Silver and diamonds - the "daily bread" of jeweler

GRINGOR is a St. Petersburg-based modern jewellery manufacturing company established in 2002. It successfully develops and implements the innovations, many of which resonate with the Russians and the people abroad. In 2012, GRINGOR was awarded the honorary...

Yesterday

Willie Nagel, a gentleman, who would have the strength and stamina to deal with business leaders and politicians, passes away

By Alex Popov

Willie Nagel passed away on July 14th. Friday he was buried in Israel. I was flying from New York with a stopover in London when it happened. Being unable to be there and express my feelings to Adam and Toni, I would like to...

20 july 2021

Diamond industry's reaction to KP impasse

The Kimberley Process Civil Society Coalition (CSC) recently said that it is planning to approach the United Nations (UN) over the impasse on the redefinition of conflict diamonds and the principles of responsible sourcing. The CSC representative...

19 july 2021

Natural and LGDs are two segments of the industry that will have to learn to coexist together

Having now completed half a decade in the diamond jewelry exporting and wholesaling industry, Anmol Bhansali received formal training on Diamonds from GIA in addition to a lengthy training in jewelry wholesaling from the factories at Goldiam. He has...

12 july 2021

L'ÉCOLE Van Cleef & Arpels: our mission is to share the jewelry culture with as many people as possible

France has gradually begun to lift quarantine restrictions on places of cultural recreation, including museums starting from May 19, 2021. The world-renowned L'ÉCOLE, School of Jewelry Arts (L'ECOLE des Arts Joailliers) Van Cleef & Arpels...

05 july 2021

De Beers boosts Q2 diamond output by 134% as consumer demand recovery continues

21 july 2021
De Beers’ rough diamond production rose 134% to 8.2 million carats in the second quarter of 2021, reflecting planned higher production to meet stronger demand for rough diamonds, as well as the impact of Covid-19 lockdowns across southern Africa.
Anglo American, which has an 85% stake in the diamond group, said production in Botswana jumped by 214% to 5.7 million carats.
De Beers’ South Africa production also increased by 130% to 1.3 million carats, due to planned treatment of higher grade ore from the final cut of the Venetia open pit.
Diamond production in Canada leapt 14% to 900 000 carats.
However, production in Namibia fell by 6% to 300 000 carats, mainly due to planned maintenance of the Mafuta vessel that was completed in the quarter and another vessel remaining demobilised.
Anglo said production guidance for De Beers this year is tightened to 32-33 million carats from the previous 32-34 million carats, subject to trading conditions and the extent of any further Covid-19 related disruptions.
Meanwhile, De Beers’ rough diamond sales totalled 7.3 million carats from two Sights, reflecting the impact of the reduced Indian midstream capacity on the fourth sight, compared with 300 000 carats, a year earlier and 13.5 million carats from three sights in the first quarter of 2021.
Anglo also said that the first half consolidated average realised price increased by 13% to $135 per carat from $119 per carat the previous year earlier driven by an increased proportion of higher-value rough diamonds sold. 
“While the average price index remained broadly flat, the closing index increased by 14% compared to the start of 2021, reflecting tightness in inventories across the diamond value chain as well as positive consumer demand for polished diamonds,” it said.
Anglo said consumer demand for polished diamonds continued to recover, leading to strong demand for rough diamonds from midstream cutting and polishing centres, despite the impact on capacity from the severe Covid-19 wave in India during April and May.

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