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...


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

Diamond smuggling rising in Zim – report

02 july 2020
Image credit: KPCSC

The smuggling of Zimbabwean diamonds to Mozambique is on the rise following the closure of official border posts to curb the spreading of Covid-19, according to a study conducted by the Kimberly Process Civil Society Coalition (KPCSC).
The study focused on seven African countries to establish the impact of Covid-19 on the diamond industry.
KPCSC also noted that there was an increase in opportunistic and criminal actors luring artisanal miners into exploitative sponsor deals that entail selling diamonds at heavily discounted prices.
"Also in Zimbabwe, artisanal miners indicated that regular buyers do no longer have money to trade, while new players are stepping in to buy at considerably reduced prices,” reads part of the report.
“While the formal market is being squeezed even further, this indicates that illicit actors may be stocking up on cheap artisanal diamonds, which they hope to sell with huge profits when the disruptions of international supply chains will be relaxed." 
The report highlighted that the diamond industry in the countries under study had been hit hard by the coronavirus pandemic. 
“The devastation is felt across the supply chain, not the least in various African countries that depend on this precious mineral in their socio-economic development,” reads the report.
"Operations in all surveyed countries, artisanal, small as well as large-scale have been affected by Covid-19 related measures. Exports have halted almost completely.”

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