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

An opportunity to show your products and occupy your niche

Recently, GOLDNET.MARKET, the first jewellery wholesale marketplace, appeared on the Russian jewellery market. Vladimir Pilyushin, one of the founders of GOLDNET.MARKET, editor-in-chief of the ‘Russkyi Yuvelir’ (Russian Jeweller) magazine...

14 december 2020

Namibia diamond sector to contract in 2020 before solid recovery in 2021

29 april 2020

Namibia’s diamond mining sector is forecasted to decline by 14.9% in real terms during 2020 due to the anticipated fall in demand, compounded by interruption in logistics for holding sales auctions due to travel restrictions and lockdowns around the world, according to the central bank. 
The projected contraction of 14.9% for 2020 is a downward revision from a growth of 5.3% projected last February.  

AlexBanner
Image credit: AlexBanner (Pixabay)


“Diamonds constitute one of the luxury items and people are expected to shift from the consumption of luxury goods and services and rather focus on fighting COVID-19 by purchasing medical supplies and dietary foods to boost their health,” it said in an economic outlook.
“In addition, with travel restrictions, lockdowns and prevention of large gatherings of people mean that prospective buyers cannot attend auctions to view and purchase diamonds.”
However, the Bank of Namibia said the diamond sector was expected to register a growth of 4.5 percent in 2021.
De Beers recently reported that its Namibian diamond unit, Namdeb Holdings, registered a 6% production jump to 500,000 carats during the first quarter of the year due to planned higher grade at the marine operations.

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