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

Correct adjustment of advertising is the major challenge

At the recent Amberforum held in the Baltic city of Svetlogorsk, Andrey Yanchevsky, Head of the trade representation of the LA VIVION jewelery company shared his opinion with the correspondent of Rough&Polished on the state and prospects of the jewellery...

05 august 2019

Small-scale diamond mining is the future in Botswana – Leon Daniels

Pangolin Diamonds, which is currently the most active diamond exploration company in Botswana, has called upon authorities in the southern African country to include diamonds into the minerals permit for small scale mining operations. Pangolin chief...

29 july 2019

“There has been a strict policy in Israel against LGDs; have been forbidden on IDE trading floor for years.”: Aviel Elia, Managing Director- IDI

Aviel Elia, an attorney by profession, has served as Legal Adviser and Company Secretary of IDI since 2013. As a key member of the Israel Diamond Institute (IDI) management team, he has been involved in developing company strategy and negotiating...

22 july 2019

Debswana to maintain 2019 production plans

14 august 2019

debswana_logo.pngDebswana said it will maintain its production plans for the year, despite the weak global demand for rough diamonds.
Botswana’s leading diamond company will keep its target of 24 million carats for the year.
“It should be noted that the De Beers Group’s production guidance for the year was initially set to be in the range of 31-33 million carats and has recently been revised down to the bottom of this range at 31 million carats,” the group’s corporate affairs manager (external communication), Agatha Sejoe was quoted as saying by BusinessWeek.
“Therefore, the production guidance for the year remains within the initially guided range.
“As such, Debswana has not changed its production plans but as always retains the flexibility to adjust production up or down as per prevailing demand conditions.”
Debswana’s maintenance of its production despite De Beers’ reduced target was due to the fact that other De Beers mines are expected to lower their production.
Sejoe, however, said Debswana was closely monitoring trends in the rough diamond market and was confident it had the plans to cope.
“We remain positive because the robust business plan that we have in place and strategic management of our operations, enable us to handle ebbs and flows in demand for rough diamonds,” she said.
The market for both rough and polished diamonds remains challenging due to an excess supply of polished diamonds and reduced credit available in the mid-stream of the supply chain.  Liquidity issues and concerns over manufacturers' profitability have resulted in weaker demand, while global trade disputes and unrest are also contributing factors, resulting in lower prices for rough diamonds.  

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished