Chris Del Gatto: “We provide capital to smart companies”

Chris Del Gatto, CEO & Co-Founder of DELGATTO Diamond Finance Fund L.P., a New York-based non-bank lender to the diamond and jewelry industry, started his career as a diamond cutter when he was just 17. In his early 20’s, Chris went on to co-found a...

26 october 2020

Lunhianga Project: "The forecasts for this year point to the production of about 100 thousand carats of diamonds"

Advanced information, by the coordinator of Endiama’s Lunhinga Project Management Committee, Adérito Gaspar, points to a drop in production due to the pandemic, but with good prospects in view of the potential of the kimberlites of Camatchia, in production...

19 october 2020

Crisis is the way to development

Maria Krasnova belongs to the second generation of the St. Petersburg jewellers. She is a daughter of Pavel Sokolov, the founder of ‘Samotsvety ot Sokolova’ (Gems by Sokolov), a jeweller and expert gemologist famous for his collection of unique...

12 october 2020

Gaetano Cavalieri: Diamond producers no longer insisting that clients purchase what they are offered

Dr. Gaetano Cavalieri has served for the past 19 years as president of CIBJO, the World Jewellery Confederation. Uniting national jewellery and gemstone associations from more than 40 countries, including Russia, and many of the industry’s major corporations...

05 october 2020

Worth of gold and diamonds

Initiatives in Arts and Culture and De Beers recently co-hosted a webinar on the worth of gold and diamonds. The webinar, which was moderated by Mickey Alam Khan, the founder and editor of Luxury Daily, featured Jeffrey Christian, founder and managing...

28 september 2020

The State Duma amends Budget Code of Russia to allow higher diamond purchases by Gokhran

16 september 2020
Image credit: Gokhran

The State Duma approved in the second reading an amendment to the Budget Code of Russia allowing the government to increase diamond purchases by Gokhran in 2020 at the expense of the federal budget, TASS reported on Wednesday.
“The amendment gives the government the right to increase purchases of diamonds by Gokhran of Russia as part of amending the budget breakdown. This amendment is due to the need to fulfill the order of the Russian Federation President issued at the request of Aisen Nikolaev, Head of the Republic of Sakha (Yakutia) to increase diamond purchases by Gokhran of Russia due to the difficult situation in the international diamond markets and the need to support production in the republic, as Deputy Finance Minister Alexei Moiseev explained earlier,” the news agency said.
Following a decrease in sales suffered by ALROSA due to the coronavirus pandemic, Yakutia’s budget may fail to receive 10 to 20 billion rubles by the end of 2020, TASS said citing an earlier statement of Aisen Nikolaev, who also said that Gokhran could buy from ALROSA rough diamonds worth from $ 0.5 billion to $ 1 billion, as the company needs support in the face of a downturn in the global diamond market and the difficult situation in the global economy as a whole amid the coronavirus pandemic.