GOLDNET.MARKET - “We want and are working to provide business with the opportunity to develop a lot of activity areas”

Today, almost all jewellery companies have their own wholesale websites, online stores, and social media pages. But a year ago, GOLDNET.MARKET, the first jewellery wholesale marketplace appeared in Russia, a new effective tool for the jewellery market...

20 september 2021

Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

Alex Popov, President of the Moscow Diamond Exchange and head of the Âme jewelry brand, which uses lab-grown diamonds to produce jewelry, sat for an interview with Rough&Polished sharing his views on the coexistence of natural and man-made diamonds in...

23 august 2021

Gem Diamonds business transformation programme remains on track

08 september 2020
Gem Diamonds says its business transformation (BT) programme remains on track to deliver the targeted $100 million in revenue, productivity and cost saving measured against the 2017 base. 
The BT programme has, since its inception, delivered $65.0 million, net of fees and costs, to the group’s results.
Gem Diamonds said the successful implementation of the BT initiatives over the past two years had placed the group in a stronger position to absorb the external shock of the Covid-19 pandemic. 
“Although the cumulative target of $100 million remains on track, the expected delivery by end 2021 may need to be extended into H1 2022 after taking into account the full impact of the shutdown and subsequent reduced operations in Q2 2020,” said Gem Diamonds.
The company was targeting to save $30 million per year.
Meanwhile, Gem Diamonds said the reopening of key players in the diamond industry, in particular the manufacturing sector in India and jewellery stores across the globe, is gradually taking place as lockdown restrictions are eased. 
It said positive signs of increased demand for diamond jewellery from China during the period was also encouraging.
The Covid-19 pandemic significantly impacted the diamond industry, from mining through to retail, with lockdown regulations and travel restrictions imposed across the world.
Total global rough diamond supply was estimated to decrease to about 110 million carats in 2020 compared to 141 million carats in 2019.
This was largely due to a combination of planned mine closures, Covid-19 driven marginal mine closures, suspension and slowdown of certain operations and the cancellation of scheduled sales by De Beers and Alrosa.

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