Unifying role is the main objective of the National Gemological Association

Yuri Shelementiev runs the Gemological Centre (GC) at the Moscow State University and is a president of the National Gemological Association (NGA) uniting the gemologists of Russia. The head of the MSU’ GC and the NGA answered the R&P’s...

15 july 2019

“Our goal is to bring clarity to the offering of Lab Grown Diamonds”, asserts Chris Casey, President, Lab Grown Diamond Council

Chris Casey is a 15-year veteran of the diamond and jewelry industry.  Chris also has extensive experience in market research as Founding Managing Director of the NPD Diamond and Diamond Jewelry Service where his responsibility included the...

08 july 2019

Dr. Michael S. Krzemnicki: Our dedication to scientific research is an important foundation to our expertise

Dr. Michael S. Krzemnicki, PhD, Director of the Swiss Gemmological Institute SSEF, in an interview with R&P told about the activities and plans of one of the world's leading Gemological laboratories specializing in scientific research of diamonds...

01 july 2019

“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

RapNet Index for 1ct diamonds fell by 3.1% in H1

03 july 2019

The RapNet Diamond Index (RAPI™) for 1-carat diamonds fell 1.4% during June and 3.1% in the first half of the year. It also went down 5.6% on a year-on-year basis due to sluggish demand and tightening manufacturing profits, as per Yahoo Finance with reference to Rapaport Research report.
The diamond industry is facing challenges as there is not enough profit in the midstream as cutters are overstocked and they don’t need to buy rough from suppliers. As a result the number of diamonds listed on RapNet increased 13% from a year ago to 1.5 million stones as of July 1.
The situation influences manufacturers who have reduced polished production an estimated 30% to restore the market balance. Cutters are also shifting to smaller and lower-cost items to keep workers occupied. The result is that production of 0.25- to 0.50-carat diamonds remains steady, even though sales are slow and prices continue to soften. RAPI for 0.30-carat diamonds declined 12.2% in the first half and 20.9% over the past year.
In China and Far East the demand for smaller diamonds is slow. The tendency will continue into the second half of the year as manufacturers will focus on profitability rather than turnover. 
Recently, De Beers said that its diamond sales continued on a downward trajectory. The diamond giant saw its latest rough sales drop 33% to $390 million compared with $581 million, a year earlier. 
It also eased 6% from $416 million realised last month. 
ALROSA, a Russian diamond mining company, also announced that it does not seek to achieve the planned level of diamond sales for 2019 due to weakening demand from cutters who are under great pressure due to overflow of diamond stocks, according to TASS.