The need for significant capital investments will be the main trend in the diamond mining industry in 2021-2030

The prospects of the diamond industry in the post-crisis period are discussed by the Rough&Polished correspondent with Sergey Mityukhin, Candidate of Geological and Mineralogical Sciences, Honored Geologist of the Russian Federation.

Yesterday

Young Diamantaires: We create initiatives for the benefit of diamond communities worldwide

The World Federation of Diamond Bourses recently launched its Young Diamantaires website. The organization has worked for the past four years with young members of the diamond community all over the world to create a platform through which they can express...

29 june 2020

Those who implement the right anti-crisis strategies have more chances

It is not surprising that because of the pandemic and the crisis, the most heated debate in the jewellery industry is about what is happening and the possible ways of survival. Irina Slesareva, an expert, art director of the Russian Diamond Line contest...

22 june 2020

The secondary diamond market in Russia is not mature although its prospects are huge

Pavel Barannik, the founder and head of the Moscow Gemological Laboratory, the founder of the Gemological Institute and President of the Moscow Diamond Club, graduated from the Gemological Institute of America (GIA). He is an expert and consultant...

15 june 2020

Johan Erikson: The industry needs to spend more on advertising and marketing

First Element is a fully independent Diamond Services Company registered in Belgium, Botswana, South Africa and Dubai. First Element is committed to providing a world class diamond service aimed at adding value to the entire supply chain, from the daily...

08 june 2020

Hallmarking to be mandatory for gold jewellery in India from 2021

04 december 2019
Hallmarking of gold jewellery and artefacts will be made mandatory across the country from January 15, 2021 to ensure purity of the precious metal.
A notification in this regard will be issued on January 15 next year and the decision will come into effect after a year, making it compulsory for all the jewellers to register with the Bureau of Indian Standards (BIS) and sell only hallmarked gold jewellery and artefacts.
Gold hallmarking is a purity certification of the precious metal and is voluntary in nature at present. The BIS is already running a hallmarking scheme for gold jewellery since April 2000 and around 40 per cent of gold jewellery is being hallmarked currently. The decision has been taken to protect consumers interest, mainly in small cities and villages, and ensure that they purchase pure gold jewellery.
According to World Gold Council data, India's cumulative gold demand declined to 496.11 tonnes during the first nine months of 2019 from 523.9 tonnes in the year-ago period. The 2018 full year gold demand stood at 760.4 tonnes. Similarly, the cumulative gold import declined to 502.9 tonnes in the first nine months of 2019 from 587.3 tonnes in the corresponding period of the previous year. India's gold imports stood at 755.7 tonnes in 2018.

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished