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

De Beers to drop some of its long-term rough buyers

18 january 2021
Image credit: De Beers

De Beers has reportedly dropped some of its long-term diamond buyers in a bid to supply stones to buyers who can add the most value to the rough stones.
Bloomberg quoted unnamed sources as saying that De Beers had told some of its customers known as sightholders that they will lose their right to buy rough diamonds.
The diamond giant was reportedly interested in a smaller number of companies specializing in the 15 000 diamond categories, providing them with more pricing power and greater resilience to economic downturns.
It was not yet clear how many buyers had been culled, but they would be about 10, according to unnamed sources.
De Beers made price cuts in 2020 due to the COVID-19 pandemic, which wreaked havoc to the industry in the first half of the year.
The industry ended the year on a recovery path.
De Beers' current six-year contracts with sightholders expired at the end of 2020.
The diamond giant asked the sightholders to reapply within one of three categories – dealers, manufacturers and integrated retailers. 
The buyers would know about their status, including how many diamonds they are entitled to buy, in the coming months.

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