Demand will pick up once the season starts

N Anantha Padmanaban took charge as the Chairman of the All India Gem & Jewellery Domestic Council (GJC) in January 2019. He has immense hopes and confidence in the Indian jewellery sector. His motto is to ‘ensure that after the day’s business...

14 october 2019

Prospects for discovering new diamond deposits in the Arkhangelsk Province are far from exhausted

ALMAZINTECH is engaged in technical auditing and comprehensive assessment of activities performed by exploration, diamond mining and gold mining businesses in Russia and other countries, as well as carries out research and development. It employs highly...

07 october 2019

Botswana Diamonds eyes expansion of Thorny River to include Marsfontein – Campbell

Botswana Diamonds, which has a 40% stake in Thorny River, through Vutomi, said there are plans to expand the project located in South Africa to include Marsfontein once a mining permit for the latter has been awarded. Company managing director James...

30 september 2019

Diamond knife and tender system: The tight-fisted paying twice?

LLC Kristalin is the only company in Russia that manufactures microsurgical diamond blades for domestic healthcare that meet international requirements and are used in ophthalmology, neurosurgery and plastic surgery. Mikhail Zhiltsov, the company’s Deputy...

23 september 2019

Didier Giard: Stiff competition among the diamantaires is one of the factors of the price war

On September 9, 2019, the French Association of Gemmology (l’Association Française de Gemmologie, AFG) held its regular Paris Gemmological Rendez-Vous. Its organizer, Didier Giar, the head of the AFG kindly agreed to answer questions from Rough&Polished...

16 september 2019

De Beers maintains policy of offering flexibility to diamond buyers – report

01 october 2019

de_beers_logo.pngDe Beers continued with its policy of offering flexibility to its diamond buyers in view of the current weak demand for rough, according to Bloomberg.
Unnamed people who attended the September sightholders sales last week in Gaborone, Botswana said the firm allowed buyers to reject half the stones in each parcel offered.
They were also given room to sell back some diamonds to De Beers on favorable terms.
“This year, buyers have grown increasingly frustrated with the cost of rough diamonds sold by De Beers as the prices of polished gems slumped,” said Bloomberg.
“That’s led to wafer thin margins for their buyers and in some cases losses from the stones bought from De Beers and Russian rival Alrosa PJSC.
“The industry’s problems are centred around an oversupply of polished diamonds that have led to much steeper price drops than for rough stones.”
De Beers chief executive Bruce Cleaver said last July that there are no structural problems in the industry, although he accepts it’s not an easy time for clients.
The group sold $280 million of diamonds at its August sale, 44% less than a year earlier. 
Its sales so far this year are about $1billion lower than the previous year.


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