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

WA Government cuts diamond royalty rates from 7.5 to 5%

27 july 2020
The Western Australia (WA) Government has recently announced a cut in diamond royalty rates from 7.5 to 5 percent. Diamond miners have warmly welcomed the one-third royalty rate cut, three years after the McGowan Government angered Western Australia's gold miners with a proposal to raise royalties, according to media reports.
The reduction was recommended in a 2015 Government report, that all diamond miners pay a flat rate of five per cent. The WA's diamond industry is facing a significant turning point, with the looming closure of Australia's largest producer of diamonds at Argyle Diamond mine in the East Kimberley, and the revival of the mothballed Ellendale mine. Ellendale produced half the global supply of fancy yellow diamonds made famous by Tiffany & Co jewellery.
Minister for Mines and Petroleum Bill Johnston said it was hoped the rate reduction from seven-and-a-half to five per cent, would help encourage a rejuvenation of diamond exploration in the Kimberley. "As we watch the Argyle mine come to the end of its life, it would be great to encourage explorers to get out there and find the next big thing for the diamond industry," he said.

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