Part 1: KPCSC gives insight into illegal diamond mining, trading in Africa

Although the diamond watchdog Kimberley Process (KP) prides itself for significantly reducing the flow of conflict goods since its establishment in 2003, the Kimberley Process Civil Society Coalition (KPCSC) alleged that illegal diamond...

Yesterday

The jewelry industry in Russia needs to be upgraded in a serious way

Dina Nasyrova is a vice-president of the International Jewelry Exhibition-Congress J-1 recently hosted by the Atrium of Gostiny Dvor in Moscow. As a partner and the Muse of the famous jeweler Ilgiz Fazulzyanov, she actively participated in the preparation...

11 october 2021

Smiling Rocks, a philanthropic business model, inspires companies to work for betterment of the world

Zulu Ghevriya, the CEO and Co-Founder of Smiling Rocks, Founder of Vedantti Jewellery and Managing Director of Prism Group has been in the diamond and jewellery industry for over 20 years. Zulu started his business, Prism Group, as a natural diamond...

04 october 2021

Work hard and you will find success

Eduard Utkin, Director General of the “Jewellers’ Guild of Russia” Association, expert of the RF Chamber of Commerce and Industry’s Committee on Precious Metals and Precious Stones, told R&P about implementing the SIIS PMPS (State Integrated Information...

27 september 2021

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

India's ‘moneybags’ clamber for pink diamonds as they are not forever

16 october 2020
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Image credit: Rio Tinto

The demand for Argyle pink diamonds in India has gone up almost three times compared to last year. The country’s high net worth individuals (HNWI) are rushing to grab an Argyle pink diamond before Rio Tinto’s Argyle mine in Australia closes down operations by the end of the year.
According to Indian diamond traders, there are business families and HNWI from places like Mumbai, Bengaluru and Hyderabad who are aware of the rarity of Argyle pink diamond and are keen to own one.
Besides being a collector’s item, pink diamonds are a valuable investment too. Every year, the price of the Argyle pink diamond has witnessed double-digit growth. And once the availability dries up, prices are expected to shoot up further. 
The price of Argyle pink diamond starts at $15,000 a carat and can go up to $1 million depending upon the size and clarity. For almost 40 years now, the Argyle diamond mine in Kimberley, Western Australia has been producing about 90% of the world's most coveted pink diamonds. With no new diamond mines been discovered in the past few years, the desire for natural diamonds has only increased.

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