Diamonds: A cocktail of optimism, pessimism in the midst of Covid-19 pandemic

Rough & Polished’s Mathew Nyaungwa recently attended a webinar organised by CIBJO Communications to examine consumer demand at the time of the Covid-19 pandemic, importance of data, financial models and lab grown diamonds. The webinar, chaired by Edward...

Yesterday

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...

03 august 2020

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

Severalmaz resumes operations at processing plant

10 july 2020
alrosa_logo.jpgSeveralmaz, a subsidiary of ALROSA Group, resumed operations at its processing plant on the Lomonosov diamond field after a temporary shutdown.
The ore processing facility, idle since mid-May, was restarted on July 8 and will continue operation until October 8, 2020, ALROSA says in its press note. During this period, the staff will rotate in three shifts of 30 days each. The decision to increase the duration of shifts was made to prevent the spread of coronavirus infection. All the staff will be tested for COVID-19 before arriving on site.
The plant is expected to process 855,000 tons of ore in the third quarter of 2020.
The ore processing at Severalmaz will be idled from October 8, 2020 to April 1, 2021 and the plant will be put on care and maintenance.
As a response to the situation in the global diamond industry caused by the coronavirus pandemic and related restrictions, ALROSA implements a number of measures to cut costs in 2020 that would lead to the annual diamond production of 28-31 million carats vs initial guidance of 34 million carats.