“The industry is under some pressure, and as we all know, diamonds are formed under great pressure!”, says Dr Martin Leake

A veteran in the field of precious stones, Dr Martin Leake a doctorate geologist had worked for 22 years with BHP Billiton; and also set up a world-class marketing unit for Grib Diamonds in Antwerp. Later, as an Independent Consultant, Dr Martin Leake...

09 september 2019

Recovery of diamond industry within a year if end-consumer demand holds – Zimnisky

An independent diamond industry analyst and consultant said the natural diamond industry will be in a better position within a year time if end-consumer demand holds. Paul Zimnisky, CFA told Rough & Polished’s Mathew Nyaungwa in an exclusive interview...

02 september 2019

Working according to one’s weaknesses and strengths

Canon Jhaveri grew up watching his diamond-dealer father and uncle working with diamonds. The sparkles of the diamonds fascinated the young boy, who became more intrigued every time he visited his father’s office. After graduating in 2002, Canon Jhaveri...

26 august 2019

The diamond business is yet bright and has a good future in the coming days

Hitesh Patel, Managing Director of Dharmanandan Diamonds Pvt. Ltd., joined the family business in 1997 to help his father Laljibhai Patel, the founder of Dharmanandan Diamonds Pvt. Ltd. Egged on by its success, Hitesh set up the overseas presence of...

19 august 2019

The talk around LGDs is all hype

As a teenager, Luca Luterbacher began to design and manufacture single pieces and individual items for wealthy private family friends from Switzerland and Lichtenstein. In 2017, he finally invested in his own luxury trademark "Luterbacher."...

12 august 2019

Gemfields announces auction results held in Singapore

22 may 2019

news_22052019_Gemfields.pngGemfields announced the results of an auction of higher quality rough emeralds held in Singapore from 14 – 17 May 2019. The emeralds were extracted by Kagem Mining Ltd in Zambia (“Kagem”, which is 75% owned by Gemfields and 25% by the Industrial Development Corporation of Zambia), says a press note from the Gemfields.
The statement said that the proceeds of this auction will be fully repatriated to Kagem in Zambia, with all royalties due to the Government of the Republic of Zambia being paid on the full sales prices achieved at the auction
The auction saw 45 companies placing bids and generating total revenues of $22.4 mln with an overall average value of &71.85 per carat, an all‐time record for any Gemfields emerald auction. The auction saw 72% of the offered carats being sold.
The specific auction mix and exact quality of the lots offered at each auction vary in characteristics such as size, colour and clarity on account of variations in mined production and market demand. 
Adrian Banks, Gemfields’ Managing Director of Product & Sales, commented: “As the results of this auction show, we continue to see encouraging signs of recovery in the emerald sector.
We congratulate Chatree Gems of Thailand – one of our firmly established ruby auction customers. They won three lots of fine quality emeralds, including the top lot comprising two exceptional gems weighing a total of 62 carats, and which set a new record price per carat for Zambian rough emeralds at a Gemfields auction.”

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished