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

ALROSA earns $ 6.8 million from the sale of large diamonds

24 july 2020
This July, the company’s revenue from sales of special-size diamonds (over 10.8 carats) at auctions held in Belgium and Israel reached $ 6.8 million. The diamond miner said in a press note that bidders coming to view the offered goods visited the company's sales offices in these countries going about it in their usual manner.
At the auction in Belgium the company sold 86 gem-quality rough diamonds weighing a total of 1,350 carats, the sales revenue amounted to $4.1 million. The auction results were summarized on July 13, goods were bought by the participants from Belgium, Israel, the UAE and India.
The Israeli auction was completed on July 20 with a revenue of $2.7 million. ALROSA fetched this amount for the sale of 70 gem-quality rough diamonds with a total weight of 1,066 carats to 26 participants. Only Israeli companies took part in this auction.
“These auctions were held in a customary mode at ALROSA’s foreign sales offices. Given the current market situation, we appreciate the results. Our company strives to support its customers, supplying them with necessary rough despite the persisting travel restrictions. We are making every effort possible to ensure that they can operate efficiently,” commented Evgeny Agureev, Deputy CEO of ALROSA.