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

De Beers’ GemFair ropes in more than 160 Sierra Leone artisanal miners

De Beers inaugurated its GemFair pilot programme in Sierra Leone’s Kono District with 14-member mine sites in 2018 to create a secure route to market for ethically sourced artisanal and small-scale diamonds. GemFair programme manager Ruby Stocklin-Weinberg...

16 august 2021

ALROSA's net profit for three quarters of 2020 decreased by 79% compared to 2019

12 november 2020
alrosa_logo.jpgFrom the IFRS-based financial results posted by ALROSA for the nine months of this year, it follows that the company's net profit decreased by 79% compared to 2019, amounting to 10.9 billion rubles against 51 billion rubles a year earlier.
ALROSA also lowered its forecast for rough diamond production in 2020 to 30 million carats from 34 million carats at the beginning of this year.
However, the company said that due to demand recovery following a significant drop in diamond supply in the second quarter amid the COVID-19 pandemic its revenues in the third quarter grew fivefold compared to the previous quarter and reached 49.7 billion rubles, having also increased versus the third quarter of 2019 - by 9%. At the same time, the miner’s net profit increased to 7.6 billion rubles.
Alexey Filippovsky, Deputy CEO of ALROSA commenting on the financial results, noted that from mid-August the company started to see the first signs of recovery in the diamond market followed by a stronger demand for its core products.
At the same time, he said that it is too early to speak of a full recovery. “The markets still face uncertainty caused by the pandemic's impact on the global economy and subsequent developments. The key indicator for the diamond industry will be upcoming Christmas and Chinese New Year retail sales,” Alexey Filippovsky stressed.