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

Gemfields earns $59m from ruby auction after 15-month trade hiatus

12 april 2021
Gemfields has realised $58.9 million in revenues from the sale of 343,952 carats of mixed quality rubies sold at an average price of $171.33 per carat. 
The company last conducted its ruby auction in December 2019, which saw 927, 130 carats of rubies being sold for $71,5 million or at an average price of 77.12 per carat.
The latest auction, which took place online as opposed to the traditional venue in Singapore due to the COVID-19 related international travel restrictions, saw only 47% of the 726, 610 carats offered, being sold.
"We're truly delighted to be back in business after the [long] pause in both mining and sales...," said Gemfields' managing director of product and sales Adrian Banks.
He said the auction, made up of seven sequential mini-auctions, yielded the third-highest revenue figure of the fourteen auctions which its 75%-owned Montepuez Ruby Mining (MRM) has run since June 2014. 
Operations at MRM were suspended in April 2020 due to the COVID-19 pandemic and operations only resumed recently with mining expected to ramp back up to full-scale by the end of this month.

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