Part 2: KPCSC wants Russia to help end impasse on new definition of conflict diamonds

In the first installment of this two-part exclusive interview with Shamiso Mtisi, the coordinator of the Kimberley Process Civil Society Coalition (KPCSC), we focused on illegal diamond mining in the continent and where the contraband ends up...

25 october 2021

Part 1: KPCSC gives insight into illegal diamond mining, trading in Africa

Although the diamond watchdog Kimberley Process (KP) prides itself for significantly reducing the flow of conflict goods since its establishment in 2003, the Kimberley Process Civil Society Coalition (KPCSC) alleged that illegal diamond...

18 october 2021

The jewelry industry in Russia needs to be upgraded in a serious way

Dina Nasyrova is a vice-president of the International Jewelry Exhibition-Congress J-1 recently hosted by the Atrium of Gostiny Dvor in Moscow. As a partner and the Muse of the famous jeweler Ilgiz Fazulzyanov, she actively participated in the preparation...

11 october 2021

Smiling Rocks, a philanthropic business model, inspires companies to work for betterment of the world

Zulu Ghevriya, the CEO and Co-Founder of Smiling Rocks, Founder of Vedantti Jewellery and Managing Director of Prism Group has been in the diamond and jewellery industry for over 20 years. Zulu started his business, Prism Group, as a natural diamond...

04 october 2021

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...

27 september 2021

De Beers ends 2019 sight sales as ‘signs of steady demand continue’

18 december 2019
de_beers_logo.pngDe Beers concluded its 2019 rough diamond sales on a seemingly recovery path as the industry spent the better part of the year stuck in murky waters.
The Anglo American 85%-owned diamond company raked in $425 million from the tenth sales cycle of 2019 compared with $400 million realised during the ninth sales cycle.
“Following continued polished diamond price stability in the lead up to the final sales cycle of the year, we saw further signs of steady demand for rough diamonds during Sight 10,” said De Beers chief executive Bruce Cleaver.
The situation was, however, not that rosy when compared with $544 million that De Beers accrued during the same period last year.
Although still provisional, the group stated that it earned $4.04 billion this year from its diamond sales compared with $5.39 billion, a year earlier.
The diamond industry had been experiencing an oversupply of polished diamonds that have led to sharp price drops than for rough stones. 
De Beers lowered prices across the board by about 5%.
It had been offering flexibility to its diamond buyers as midstream trading conditions are still in the process of rebalancing. 

      Image credit: De Beers

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