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

African diamond firms on COVID-19 response, recent developments

Rough & Polished recently contacted several diamond producers and exploration companies with operations in Africa to establish how their operations were affected by the Covid-19 pandemic and what they are doing to alleviate the impact. We also sought...

01 june 2020

Gem rakes in $7.8mln from Letseng small diamond tender

19 march 2020

Gem Diamonds has raked in $7.8 million from the Letseng small diamond tender, which closed in Antwerp on Wednesday. 
However, the tender was 18% below the like for like prices reached at the last small diamond tender held in November 2019 before the Covid19 coronavirus economic crisis. 

Image credit: Gem Diamonds

"The results of the Letseng small diamond tender are resilient given the difficult circumstances under which the tender was held caused by the ongoing Covid19 situation,” said company chief executive Clifford Elphick.
“We look forward to proceeding with the flexible sales processes in respect of the Letseng large diamond parcel which contains many high quality diamonds."
Meanwhile, Gem Diamonds said its Letseng large diamond tender, which commenced on 16 March and was due to have closed next week on 25 March, has been cancelled due to the Covid19 coronavirus.
Travel and other restrictions imposed by the Belgian government and the governments of the company's clients to prevent the outbreak of has made it impossible for the auction to go ahead.
Gem said a flexible direct sale process has been put in place for large and high quality diamonds.
This sales process, it said, will include direct sales and also partnership arrangements.
“Any diamonds which are not sold under the flexible sales process will be held over for sale at a later date,” said the company.

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