How Russkiye Samotsvety is coping with the current downturn

One of the key issues facing most Russian companies today is the need for an objective assessment of the new consumption decline due to the quarantine, as well as making forecasts for a way out of it. According to a RBC-Petersburg’s study made in June...

Yesterday

Global rough diamond sales down 80-90% in value in Q2 –Zimnisky

The COVID-19 pandemic, which is spreading across the globe, having originated from China’s Wuhan has left diamond traders and buyers at sixes and sevens. Traditional diamond tenders were cancelled around March as governments imposed travel restrictions...

27 july 2020

Indian diamond and polishing industry requires forward integration - Dinesh Navadiya

Dinesh Navadiya is now the Regional Chairman (Gujarat Region) of The Gems & Jewellery Export Promotion Council (GJEPC) of India for the 3rd term. He is also the Director on the Board of the Gem & Jewellery Skill Council of India (GJSCI)...

20 july 2020

GJEPC will focus on demand generation for diamonds and jewellery in the next two years

Mr. Vipul P Shah, Vice Chairman, GJEPC and also CEO & Managing Director of Asian Star Co. Ltd. has a rich experience in the diamond industry. His business acumen and professional conduct have contributed significantly in transforming a diamond manufacturing...

13 july 2020

The need for significant capital investments will be the main trend in the diamond mining industry in 2021-2030

The prospects of the diamond industry in the post-crisis period are discussed by the Rough&Polished correspondent with Sergey Mityukhin, Candidate of Geological and Mineralogical Sciences, Honored Geologist of the Russian Federation.

06 july 2020

Grib Diamonds raked in over $ 20 million at auction in Antwerp

17 june 2020
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Image credit: AGD DIAMONDS

On June 16th Grib Diamonds sold over $20M of rough diamonds from its fully owned Grib Diamond Mine in Russia.
Despite the troubled times the rough diamond market is going through, Grib was able to sell more than 90% of the goods on offer and approximately 350k carats.
Using its online appointments system and having introduced new measures to ensure the safety of all attendees and staff, over 150 companies were able to attend the viewing in Antwerp.
In a display of trust in its well-known sales assortments, some Grib customers that were unable to attend due to travel restrictions were even prepared to bid blind. Grib would like to extend its appreciation for the continued support and loyalty of its customers whose participation in the sale was the key factor for the success of this auction.
Grib CEO Igor Prokhorenko said, “We are delighted to be able to place these goods in Antwerp, the most important diamond trading centre in the world. Our world-class auction system continues to outperform, and the results show that we can sell successfully under any market conditions. We have ample viewing facilities and processes in place that would enable us to sell productions from anywhere in the world.”

Victoria Quiri, Correspondent of the European Bureau, Rough & Polished, Strasbourg