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

Young Diamantaires: We create initiatives for the benefit of diamond communities worldwide

The World Federation of Diamond Bourses recently launched its Young Diamantaires website. The organization has worked for the past four years with young members of the diamond community all over the world to create a platform through which they can express...

29 june 2020

Those who implement the right anti-crisis strategies have more chances

It is not surprising that because of the pandemic and the crisis, the most heated debate in the jewellery industry is about what is happening and the possible ways of survival. Irina Slesareva, an expert, art director of the Russian Diamond Line contest...

22 june 2020

The secondary diamond market in Russia is not mature although its prospects are huge

Pavel Barannik, the founder and head of the Moscow Gemological Laboratory, the founder of the Gemological Institute and President of the Moscow Diamond Club, graduated from the Gemological Institute of America (GIA). He is an expert and consultant...

15 june 2020

Covid-19: Zim’s plans to produce 10Mcts by 2023 may fail

23 june 2020
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Image credit: Gerd Altmann (Pixabay)

Zimbabwe’s plans to lift diamond output to 10 million carats by end of 2023 will likely fail due to the Covid-19 pandemic, according to a local environmental rights watchdog.
Centre for Natural Resources Governance (CNRG) said in a statement to Rough & Polished that there had been a sharp fall in diamond prices and demand across the globe as a result of Covid-19.
It said although diamond mining in Marange continued uninterrupted despite the lockdown, 
Zimbabwe will most likely have surplus stock of rough diamonds with no market to sell to. “Manufacturers of polished diamonds are reducing prices to raise cash and minimize their inventory risk,” said CNRG.
“The Zimbabwean diamond industry is going to be affected heavily as the international diamond industry is already in a recession due to Covid19.”
It said ZCDC had planned 11 international gem auctions outside the country, including the Asian cities, to widen marketing options amid a market glut that has steadily made polished stones cheaper.
 “ZCDC has about 300 000 carats of diamonds which were due to be auctioned at the beginning of April but were affected by the Covid-19 pandemic, which has forced many countries to close borders and embark on lockdowns to stop the spread of the deadly virus,” said CNRG.

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