Part 1: KPCSC gives insight into illegal diamond mining, trading in Africa

Although the diamond watchdog Kimberley Process (KP) prides itself for significantly reducing the flow of conflict goods since its establishment in 2003, the Kimberley Process Civil Society Coalition (KPCSC) alleged that illegal diamond...


The jewelry industry in Russia needs to be upgraded in a serious way

Dina Nasyrova is a vice-president of the International Jewelry Exhibition-Congress J-1 recently hosted by the Atrium of Gostiny Dvor in Moscow. As a partner and the Muse of the famous jeweler Ilgiz Fazulzyanov, she actively participated in the preparation...

11 october 2021

Smiling Rocks, a philanthropic business model, inspires companies to work for betterment of the world

Zulu Ghevriya, the CEO and Co-Founder of Smiling Rocks, Founder of Vedantti Jewellery and Managing Director of Prism Group has been in the diamond and jewellery industry for over 20 years. Zulu started his business, Prism Group, as a natural diamond...

04 october 2021

Work hard and you will find success

Eduard Utkin, Director General of the “Jewellers’ Guild of Russia” Association, expert of the RF Chamber of Commerce and Industry’s Committee on Precious Metals and Precious Stones, told R&P about implementing the SIIS PMPS (State Integrated Information...

27 september 2021

GOLDNET.MARKET - “We want and are working to provide business with the opportunity to develop a lot of activity areas”

Today, almost all jewellery companies have their own wholesale websites, online stores, and social media pages. But a year ago, GOLDNET.MARKET, the first jewellery wholesale marketplace appeared in Russia, a new effective tool for the jewellery market...

20 september 2021

Demand for diamonds will recover in two years after falling by 2% in 2019 - VTB Capital

19 june 2019

Demand for rough diamonds may take two years to restore after falling this year by 2% due to the passivity of jewelry retailers, FINMARKET.RU cites the report from VTB Capital.
The depletion of the Argyle diamond mine, which is located in Australia and produces small diamonds, can positively affect the profitability of diamond mining companies.
The report says that despite the fact that prices for small diamonds stabilized in the first quarter of 2019 after falling in 2018, the market continues to suffer from an overabundance of stone reserves, which at the end of 2018 were estimated at $ 3.7 billion, and also because of the low jewellery demand in China.
Low prices for diamond products also affected the profitability of the cutting sector.
“The largest diamond miners increased the rejection rates to 40%; De Beers accumulated about 700k carats in stock in the 1st quarter of this year. In 2019, the price index for diamonds, according to VTB Capital, will decrease by 4% (1% in each of the quarters),” the report said.
However, the depletion of Rio Tinto’s Argyle mine by 2023, which produces and sells small diamonds at an average price of $15 per carat compared to the world average of $100 per carat in 2018, as well as a decrease in cutter’s rough diamond reserves over two years, will boost the demand on diamond market.
The closure of Argyle will positively affect ALROSA's revenue, 35% of which is accounted for by stones less than 0.75 carats.

Victoria Quiri, Correspondent of the European Bureau, Rough&Polished, Strasbourg