Academician Pokhilenko: The situation with rough diamonds in the Russian Federation will start changing for the worse as early as 2025

Nikolai Petrovich Pokhilenko, Academician of the Russian Academy of Sciences (RAS), Deputy Chairman of the Siberian Branch (SB) of the RAS, Scientific Director of the Institute of Geology and Mineralogy of the SB of the RAS, is a prominent...

11 january 2021

Ilgiz Fazulzyanov: For a creator, the quarantine is the time to work on future masterpieces

Ilgiz Fazulzyanov is a successful and internationally recognized jewellery designer. He received his academic art education in Kazan and moved to Moscow in the 1990s where he lives and works now. His brand, Ilgiz F., is well known among true connoisseurs...

04 january 2021

Botswana Diamonds keen to mine KX36 kimberlite if found commercial

Botswana Diamonds intends to mine the KX36 kimberlite, which it recently acquired from Petra Diamonds if found commercial. The high-grade KX36 kimberlite pipe is part of the three Prospecting Licenses in the Central Kalahari Game Reserve in Botswana...

28 december 2020

‘We expect to completely open the Bourse for business by Q1 of the Year 2022,’ assures Vallabhbhai Patel, Chairman, SDB

Vallabhbhai Patel, Chairman of the Surat Diamond Bourse, dreamed of building the world’s largest commercial building in Surat for the Indian diamond industry. He conceptualized the ‘Surat Diamond Bourse’ (SDB), which is set to redefine...

21 december 2020

An opportunity to show your products and occupy your niche

Recently, GOLDNET.MARKET, the first jewellery wholesale marketplace, appeared on the Russian jewellery market. Vladimir Pilyushin, one of the founders of GOLDNET.MARKET, editor-in-chief of the ‘Russkyi Yuvelir’ (Russian Jeweller) magazine...

14 december 2020

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. 

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      Image credit: De Beers

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