“Lab-Grown Diamonds is probably the biggest scam this industry has ever seen,”: Leibish Polnauer, Founder-President, Leibish & Co.

An interesting story from the Leibish & Co takes you way back to the year 1979 when young Leibish Polnauer, then a diamond polisher, was travelling to London, having just found out that the factory at which he worked had been shut down. He found an advertisement...

24 june 2019

Botswana mining industry players speak on speculative exploration licences

Speculative mineral exploration licences was a recurring theme from presentations made by three players in Botswana mining industry at a conference convened in Gaborone. The country has issued thousands of exploration licences, across the mining industry...

17 june 2019

Design is the key to all markets

Besides being an astute businessman, Mumbai-born Laksh Pahuja is a designer par excellence known globally for his awe-inspiring unusual jewellery pieces. Trained at the Gemological Institute of India and Harrow College of Art England, Laksh combines...

10 june 2019

Mutual mass destruction will not serve anybody’s purposes

The recent moves by the U.S. Federal Trade Commission (FTC), including its letters urging some companies to abide to the revised edition of FTC Jewelry Guides and the explanations from FTC attorney Robert Frisby posted on the FTC website were...

03 june 2019

Pavel Sokolov: Every stone has its beauty

THE ‘GEMSTONES BY SOKOLOV’ brand has been popular for over 25 years. The aim of this company is to supply any kind of gem studs to the Russian market including the unique ones except diamonds of any cut. The product range by the SOKOLOV Company is very...

27 may 2019

ALROSA May sales of rough and polished diamonds are down compared to the last year’s results

10 june 2019

alrosa_logo.jpgALROSA, the world’s largest diamond miner, announces diamond sales results for May and five months of 2019.
In May, ALROSA Group sold $266 million worth of rough and polished diamonds which shows the decrease in sales compared with last year when the company sold $288.0 million worth of rough and polished products. Rough diamond sales by value amounted to $261.1 million, polished diamond sales –$5.0 million, while last year rough diamond sales amounted to $277.5 million, polished diamond sales – $10.5 million.
ALROSA’s total rough and polished diamond sales in January-May 2019 also fell amounting to $1,589 million compared to USD 2.299 billion gained from the sales from January to May, 2018. During the five months of 2019, rough diamonds were sold for $1,564.9 million, polished diamonds – for $24.1 million, while in 2018 rough diamonds sales of the company went up to $2.256 billion and polished diamonds sales to $43.3 million.
“We see the market entering its seasonal slowdown phase. The India’s cutting and polishing sector is still facing a challenge of financing, which holds back the growth in demand for diamond products. The retailers’ stock level remains quite high but keeps declining – this process will take some time. At the same time, we should note the activity of end consumers of jewelry products in the main markets. While the global diamond production is expected to decrease: by 4% in Q1 compared to the same period last year. These factors give us the reasons to expect that the stock level in the system will gradually get back to normal,” commented Evgeny Agureev, Director of the United Selling Organization ALROSA, member of the Executive Committee.