Diamex Lab: Our technology allows you to trace the history of the origin of each stone

Gleb Sverdlov, CEO of Diamex Lab told Rough & Polished in his interview below about the development of IT technologies for the market of rough and polished diamonds and jewelry.

17 february 2020

The future of the market goes hand in hand with gemology

After 2019, a challenging year for the global diamond industry, we asked Yuri Shelementyev, head of the Moscow State University (MSU) Gemmological Center and president of the National Gemological Association (NGA), to share his views...

10 february 2020

Diamond industry in healthier position going into 2020

The diamond industry is in a healthier position going into 2020 due to actions taken last year, according to De Beers. Group spokesperson David Johnson told Rough & Polished’s Mathew Nyaungwa that the actions taken included reducing rough diamond production...

03 february 2020

Ethical sourcing and Diamonds Standards Organization

The diamond sector is ready to embrace a new decade and overcome some of its historical challenges. Ethical sourcing has proven to be undoubtedly one of the main aspects that industry professionals need to address. Antonio Cecere, President of Geneva...

27 january 2020

Ali Pastorini: Challenges make us think out of the box and be closer to customers

Ali Pastorini is the co-owner of DEL LIMA JEWERLY and President of Mujeres Brillantes, an association which brings together more than 1,000 women working in the gold and diamond trading sector, mainly from Latin America, as well as from Turkey, Spain...

20 january 2020

Anglo confirms plans to “re-think, re-imagine” De Beers’ sell of diamonds to sightholders

04 february 2020

Anglo American’s 85%-owned De Beers is mulling an overhaul in the way in which it sells rough diamonds to its sightholders.
“We have to re-think and re-imagine it, but we also need to do it with the midstream, not to the mid-stream,” Anglo chief executive Mark Cutifani was quoted as saying by Miningmx at the ongoing Mining Indaba in Cape Town. 

Image credit: De Beers Group

“I don’t know where it will land but everyone who is a partner will have to look at a different world.”
De Beers spokesperson David Johnson recently told Rough & Polished that they will be communicating directly with customers in the coming months about the new sightholder contract period, which will focus on maximising the considerable opportunities ahead in the diamond sector.
Bloomberg News reported last month that De Beers is planning to reduce the number of sightholders at the end of the current term.
The six-year sightholder contract, which governs the rules of the sights will come to an end this year.
Poor sales in the final two weeks leading up to Christmas in 2018 (due largely to US stock market volatility and US-China trade tensions), resulted in lower appetite from retailers to restock at the start of 2019. 
This led to the midstream being oversupplied with inventory and rough diamond demand subsequently reduced significantly. 
These challenges were worsened by liquidity tightness in the midstream, as well as downstream impacts including the evolution to a greater share of online sales.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished from Cape Town, South Africa