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...

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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

De Beers Officially Ends Rough Diamond Purchases From ALROSA

11 january 2009

The world’s two largest diamond producers, De Beers and ALROSA, have officially ended their trade relationship, in accordance with commitments made to the European Commission (EC), RAPAPORT reported. Under the agreement made legally binding in 2006, De Beers committed to stop purchasing diamonds from ALROSA as of 2009. The EC argued at the time that the cessation of trade between the two would “result in more rough diamonds being available on the open market, paving the way for genuine competition in the supply of rough diamonds.” 
Trade between the two companies dates back to a five-year agreement signed in December 2001, whereby ALROSA supplied De Beers with about $800 million worth of rough diamonds a year, according to Rapaport records. The companies renewed the agreement in 2006 with the EC stipulation that they would phase out trade by the end of 2008. Under the EC decision, De Beers could purchase up to $600 million worth of rough diamonds from ALROSA in 2006, $500 million the following year, and up to $400 million in 2008. 
Lynette Gould, the company spokesperson, declined to comment on whether De Beers purchased its full quota from ALROSA last year. Both companies were hit by the global recession in the final quarter of 2008, which brought on a dramatic drop in demand for rough diamonds. They each responded by reducing production as sales plummeted during the quarter. 
As it stands, however, ALROSA can still legally sell rough diamonds to De Beers, as the European Court of First Instance annulled the decision to ban trade between the two companies in July 2007, after ALROSA successfully argued it that had not been consulted about the EC ruling. The EC has since appealed the court decision, and awaits a hearing on the matter, a court spokesperson said.