GOLDNET.MARKET - “We want and are working to provide business with the opportunity to develop a lot of activity areas”

Today, almost all jewellery companies have their own wholesale websites, online stores, and social media pages. But a year ago, GOLDNET.MARKET, the first jewellery wholesale marketplace appeared in Russia, a new effective tool for the jewellery market...

20 september 2021

Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

Alex Popov, President of the Moscow Diamond Exchange and head of the Âme jewelry brand, which uses lab-grown diamonds to produce jewelry, sat for an interview with Rough&Polished sharing his views on the coexistence of natural and man-made diamonds in...

23 august 2021

De Beers to assist struggling customers – report

03 march 2020

De Beers is considering giving a helping hand to its struggling buyers following weak diamond sales that hit the industry last year.
Bloomberg cited unnamed sources as saying that that the diamond giant outlined plans last week to place its customers into three categories – dealers, manufacturers and integrated retailers.
This was expected to help De Beers ensure that buyers get the rough best suited to their needs and business type. 

Image credit: kschneider2991 (Pixabay)

The diamond industry experienced an oversupply of polished diamonds last year, which led to sharp price drops than for rough stones.   
De Beers was forced to lower prices across the board by about 5%.  
It also offered flexibility to its diamond buyers as midstream trading conditions were in the process of rebalancing.
Media reports also claimed recently that De Beers is considering significant changes to the way it sells diamonds. 
The Anglo American unit, is reportedly planning to significantly cut the number of its sightholders as well as reconsidering the way that diamonds are allocated among the group.
De Beers’ current six-year contract with buyers expires at the end of this year. 
It is anticipated that the group will strengthen the remaining businesses by reducing the number of its customers. 
A De Beers spokesperson said they will communicate directly with customers in the coming months about the new contract, which will focus on maximizing the opportunities in the new diamond world. 

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