The need for significant capital investments will be the main trend in the diamond mining industry in 2021-2030

The prospects of the diamond industry in the post-crisis period are discussed by the Rough&Polished correspondent with Sergey Mityukhin, Candidate of Geological and Mineralogical Sciences, Honored Geologist of the Russian Federation.

Yesterday

Young Diamantaires: We create initiatives for the benefit of diamond communities worldwide

The World Federation of Diamond Bourses recently launched its Young Diamantaires website. The organization has worked for the past four years with young members of the diamond community all over the world to create a platform through which they can express...

29 june 2020

Those who implement the right anti-crisis strategies have more chances

It is not surprising that because of the pandemic and the crisis, the most heated debate in the jewellery industry is about what is happening and the possible ways of survival. Irina Slesareva, an expert, art director of the Russian Diamond Line contest...

22 june 2020

The secondary diamond market in Russia is not mature although its prospects are huge

Pavel Barannik, the founder and head of the Moscow Gemological Laboratory, the founder of the Gemological Institute and President of the Moscow Diamond Club, graduated from the Gemological Institute of America (GIA). He is an expert and consultant...

15 june 2020

Johan Erikson: The industry needs to spend more on advertising and marketing

First Element is a fully independent Diamond Services Company registered in Belgium, Botswana, South Africa and Dubai. First Element is committed to providing a world class diamond service aimed at adding value to the entire supply chain, from the daily...

08 june 2020

No shutdown in Surat’s diamond sector for coronavirus outbreak

18 march 2020
The Indian diamond industry stakeholders have unanimously decided not to shut down the industry in the wider interest of the unit owners and the diamond workers, as per a TOI report.
The Surat Diamond Association (SDA) and the Gems and Jewellery Export Promotion Council (GJEPC) had jointly organised a meeting of the industry stakeholders to gather their views on the closure of the diamond industry over the coronavirus outbreak in the diamond city.
Majority of the industry stakeholders were not in favour of shutting down the industry and rather suggested taking safety precautions in the diamond units including placing hand-sanitisers, distributing face masks and regular screening of the diamond workers and unit owners to stem the spread of coronavirus.

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Image credit: Surat Diamond Bourse

It was decided during the meeting that both the diamond markets in Varachha and Mahidhapura will operate from 11 am to 6 pm and that the diamond merchants should avoid visiting the markets when they do not have any trading activity to perform. Dinesh Navadia, regional chairman of GJEPC, said, “The industry employs about 5.5 lakh diamond workers and that the closure would mean rendering them jobless for 15 days. At present, the industry is operating at less than 40% capacity due to the major decline in export orders following the coronavirus outbreak. Still, the unit owners are running their factories to keep their workers employed.”
President of SDA, Babu Kathiriya said, “SDA will be running an awareness campaign in the industry on the health safety measures to deal with coronavirus outbreak. Pamphlets will be distributed in the diamond hub for creating awareness. We are in constant touch with the State Government and the local civic body.”

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished