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...

Yesterday

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

Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

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