Diamonds across time

Not so long ago, the global library of professional publications on precious stones was replenished with a unique book about rare diamonds and diamond jewelry published by the World Diamond Museum. Alex Popov, the founder and director of the museum told...

Today

Academician Pokhilenko: The situation with rough diamonds in the Russian Federation will start changing for the worse as early as 2025

Nikolai Petrovich Pokhilenko, Academician of the Russian Academy of Sciences (RAS), Deputy Chairman of the Siberian Branch (SB) of the RAS, Scientific Director of the Institute of Geology and Mineralogy of the SB of the RAS, is a prominent...

11 january 2021

Ilgiz Fazulzyanov: For a creator, the quarantine is the time to work on future masterpieces

Ilgiz Fazulzyanov is a successful and internationally recognized jewellery designer. He received his academic art education in Kazan and moved to Moscow in the 1990s where he lives and works now. His brand, Ilgiz F., is well known among true connoisseurs...

04 january 2021

Botswana Diamonds keen to mine KX36 kimberlite if found commercial

Botswana Diamonds intends to mine the KX36 kimberlite, which it recently acquired from Petra Diamonds if found commercial. The high-grade KX36 kimberlite pipe is part of the three Prospecting Licenses in the Central Kalahari Game Reserve in Botswana...

28 december 2020

‘We expect to completely open the Bourse for business by Q1 of the Year 2022,’ assures Vallabhbhai Patel, Chairman, SDB

Vallabhbhai Patel, Chairman of the Surat Diamond Bourse, dreamed of building the world’s largest commercial building in Surat for the Indian diamond industry. He conceptualized the ‘Surat Diamond Bourse’ (SDB), which is set to redefine...

21 december 2020

Indian diamond industry faces worst price crash in recent times

23 march 2020

The world’s largest diamond cutting and polishing centre in Surat is headed for a doomsday following the worst crash in polished diamonds prices in the international market. The prices have fallen 7%-10% due to a severe economic crisis in the key diamond consuming countries coupled with the outbreak of coronavirus pandemic, says a TOI report. 
The plummeting of prices comes on the heels of India’s export of polished diamonds crashing by 41% to $1.38 bln in February. 
It was in November and December-2019 that the diamantaires had purchased rough diamonds at high prices, anticipating good demand in the international market in 2020. However, the coronavirus outbreak came as a big disruption with export to Hong Kong and China decreasing by almost $1.5 billion during January-February, 2020. 
Rapaport Group chairman, Martin Rapaport reportedly told TOI over the phone: “Our heart goes out to Surat and India’s diamond community in these difficult times. We understand that the reduction of prices in the Rapaport Price List is upsetting, but it is important for the buyers to come back to the market as the prices have been adjusted. It is important to note that the Rapaport Price List is used by buyers and not just sellers. As such, buyers require and expect Rapaport to reflect the lower price realities of the market. We cannot misrepresent prices to the benefit of sellers and we must not mislead buyers.”

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