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

Gem Diamonds revenue almost halved in 2019

13 february 2020

gem_diamonds_logo.pngGem Diamonds’ revenue for the full calendar year dropped 32% to $182.1 million compared to $266.6 million, in 2018.
It recorded an average price of $1, 637 per carat in 2019, a 23% decline against $2,131 in the comparative period. 
The company said diamond prices for the smaller commercial type goods remained under last year with polished inventory levels remaining high. 
“However, improvements in demand were noted in December 2019 as the midstream started to restock,” it said.
As a result, Gem noted that diamonds sold during the quarter ended 31 December rose 41% to $51.3 million compared with $36.3 million realised in the third quarter of 2019.
Diamonds sold during the fourth quarter also jumped 17% to 29 945 carats from 25 631 carats, the previous quarter.
Meanwhile, Gem said it generated free cash flow of $1.5 million, improving its net debt position to $10.1 million during the fourth quarter compared to the previous quarter’s $11.6 million.

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