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

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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

De Beers ups prices of diamonds at first sale of 2021 – report

20 january 2021
Image credit: De Beers Group (Facebook)

De Beers increased prices of its rough diamonds by about 5% at its first sale of the year, which shows that the industry is now recovering from the COVID-19 pandemic, according to news reports.
Bloomberg quoted unnamed people familiar with the situation as saying that the increases largely applied to stones bigger than 1 carat.
"The diamond industry has surprised many by the speed of its recovery after being brought to a complete standstill in the first half of last year," writes Bloomberg.
"Crucial holiday sales in the U.S. and China were strong, while a shortage of stock held by industry middlemen created strong demand."
The recovery of the diamond market started in the fourth quarter of 2020 as buyers of rough stones were restocking ahead of the holiday season.
The first half of 2020 saw diamond sales tumbling, while some diamond retailers and factories were forced to close. 
De Beers had to cut production, resulting in a tighter supply just as shoppers returned to stores in parts of China and the U.S.

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