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

Mozambique goes after gemstone trafficking networks in Cabo Delgado

24 july 2020
The government of Mozambique has ‘dismantled’ gemstone trafficking networks in Cabo Delgado Province where Montepuez Ruby Mining (MRM), owned in partnership between Gemfields and Mwiriti Limitada, operates.
Intruders are commonplace on the licence area, and unsafe illegal mining practices have previously contributed to fatalities in the area.
Police seized several grams of rubies and more than four tonnes of various minerals such as gold, garnets, quartzites, corundum and tourmaline.
“These crimes involve Mozambicans and foreigners, indicative of a close-knit gemstone trafficking network,” ministry of mineral resources inspector general Obete Matine said in a statement released by Gemfields.
Gemfields said extensive research previously conducted within the communities adjacent to the concession area uncovered a modern slavery network whereby vulnerable young people were becoming indebted to foreign traffickers and smuggling networks.
“The arising negative impact of an influx of illegal miners into local communities – not to mention the resulting loss of tax revenue to the government – damages the social fabric of local communities and prevents Mozambican citizens from benefiting from the true value of their gemstone resources,” it said.

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