Chris Del Gatto: “We provide capital to smart companies”

Chris Del Gatto, CEO & Co-Founder of DELGATTO Diamond Finance Fund L.P., a New York-based non-bank lender to the diamond and jewelry industry, started his career as a diamond cutter when he was just 17. In his early 20’s, Chris went on to co-found a...

26 october 2020

Lunhianga Project: "The forecasts for this year point to the production of about 100 thousand carats of diamonds"

Advanced information, by the coordinator of Endiama’s Lunhinga Project Management Committee, Adérito Gaspar, points to a drop in production due to the pandemic, but with good prospects in view of the potential of the kimberlites of Camatchia, in production...

19 october 2020

Crisis is the way to development

Maria Krasnova belongs to the second generation of the St. Petersburg jewellers. She is a daughter of Pavel Sokolov, the founder of ‘Samotsvety ot Sokolova’ (Gems by Sokolov), a jeweller and expert gemologist famous for his collection of unique...

12 october 2020

Gaetano Cavalieri: Diamond producers no longer insisting that clients purchase what they are offered

Dr. Gaetano Cavalieri has served for the past 19 years as president of CIBJO, the World Jewellery Confederation. Uniting national jewellery and gemstone associations from more than 40 countries, including Russia, and many of the industry’s major corporations...

05 october 2020

Worth of gold and diamonds

Initiatives in Arts and Culture and De Beers recently co-hosted a webinar on the worth of gold and diamonds. The webinar, which was moderated by Mickey Alam Khan, the founder and editor of Luxury Daily, featured Jeffrey Christian, founder and managing...

28 september 2020

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