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

Israeli diamond sector shuts down amid COVID-19 crisis

21 may 2020

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The Diamond Exchange District in Ramat-Gan                                                Image credit: Ynhockey (Wikipedia)

The once vibrant diamond exchange floor in Tel Aviv remains shut and the diamond district, one of the world’s main trade and polishing centres, is still deserted, says a report in Haaretz.com.
Israel’s diamond trade declined by 90% compared to a year earlier, missing out on transactions that would have been worth $1.5 billion in March and April.
Yoram Dvash, President of the Israel Diamond Exchange and Acting President of the World Federation of Diamond Bourses said that the diamond industry woes reach far beyond Israel. It has disrupted miners and retailers alike – heavyweights De Beers and Alrosa have been forced to cut back production. "The factories in India, in Israel, in Belgium are not working, so there are not many goods in the market,” Dvash told Reuters. 
Dvash also pointed out that the sector, which accounted for about 9% of exported goods in 2019, has lost around $300 mln in profit due to the crisis. It has a credit line with banks totalling about $850 mln and industry leaders have asked for government guarantees that would raise it to $1 bln, but that has yet to come. 

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