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

Rio Tinto’s diamond production dips 5% in Q2 2020

21 july 2020
Rio Tinto’s Q2 2020 diamond production declined 5% to 4.23 mln carats on a y-o-y basis, but increased 23% compared with Q1 2020, as per a press release from the miner.
The Argyle mine in Australia recorded 1% decrease in carat production at 3.27 mln carats in Q2, in comparison to the production figures during the same period of 2019. This is attributed to the 11% reduction in recovered grade, partially offset by higher tonnes mined and processed. Rio Tinto indicated that preparations were going ahead for the safe closure of Argyle operations before the end of 2020.
At Diavik in Canada, 963,000 carats recovered in the Q2 of 2020 were 19% lower than the Q2 of 2019 due to lower processed tonnes and lower grade in the underground. The company noted that it continues to execute its value over volume strategy to match market demand during a challenging period for the industry.

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