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

“Get Diamonds” platform will soon be available in Russian, Hindi, Arabic and any other languages as per demand from any countries

A first-generation diamantaire Yoram Dvash, currently serving as the Acting President at World Federation of Diamond Bourses (WFDB) and the President of the Israel Diamond Exchange (IDE), launched his diamond manufacturing and trading...

25 may 2020

Sustainability is the only way forward - Rahul Jauhari

Rahul Jauhari, Sr Vice President of Global Sales & Marketing, Star Rays, has forged ahead professionally for more than 14 years garnering experience in Business Development, Luxury Lifestyle Consultancy, Market Analysis, Global Fashion / Luxury trend...

18 may 2020

Keeping global supply chains functioning vital – De Beers

Diamond giant, De Beers has said that it is essential to keep global supply chains functioning in view of the substantial impact of Covid-19 on the industry. Group spokesperson David Johnson told Rough & Polished’s Mathew Nyaungwa in an exclusive interview...

11 may 2020

Gabon courts foreign investors to grow fledgling diamond sector

Diamond production in Gabon, which has been a member of the Kimberley Diamond Certification Process since 2018, is currently dominated by artisanal miners. The artisanal miners are producing about 300 carats per month, according to Gabon’s director of...

05 may 2020

IDE President calls for government & banks’ support for coronavirus-hit Israeli diamond sector

03 april 2020

The Israel Diamond Exchange in Tel Aviv has reportedly fallen silent, with trading almost ground to a halt after the coronavirus outbreak with majority of workers gone on unpaid leave, according to a report in Jerusalem Post.
Highlighting that the livelihood of some 15,000 families depends on the trading centre, one of the four largest in worldwide, Israel Diamond Exchange President Yoram Dvash had reportedly said: "The exchange is a ghost town. Traditional trade has dropped off and shifted to conferences in recent years, but the large conferences have been cancelled due to the virus. There has also been a shift to online trading, but there is currently no appetite to buy."
Given the current situation, Dvash called on the government to “offer specific tools to some 1,500 businesses of various sizes within the exchange, emphasizing that Israel must maintain its ‘competitive advantage’ in the global industry.Together with the World Diamond Council and three other leading nations for rough diamond imports, the Israel Diamond Exchange has appealed to De Beers Group and ALROSA to offer complete flexibility for purchases of rough diamonds under existing cash before delivery contracts. Also, the banks are a key factor in overcoming this crisis. If they take a flexible approach that understands the problems of the small businesses, we will be able to emerge better from the crisis.”

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