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

IDMA urges industry to preserve manufacturing infrastructure

10 february 2009

The International Diamond Manufacturers Association (IDMA), the representative body of the world's diamond manufacturers, said today that in the current market situation diamond manufacturers must balance the need to retain a viable labor force with the ability to continue servicing long term clients.

"In a period of reduced demand for diamonds, it is important to maintain our industry's manufacturing infrastructure," IDMA's president Moti Ganz, said in a statement.  

The comments come in the wake of the closure of factories in some of the world's diamond manufacturing centers.

"It has been our experience from previous downturns that when workers are laid off they leave the industry and will not come back when the tide turns. Huge capital investment and efforts have gone into training, and years of dedicated effort have made our highly skilled labor force one of our finest assets".   

"Though the need to balance our inventories is unquestionably a high priority, it is not in our interests that diamond mines be closed. These are extremely capital intensive ventures, and there is no certainty that they will reopen quickly enough to satisfy demand when the economic climate improves," he said.  

Ganz also expressed concern about the diamond industry's ability to access finance.   

"The diamond industry remains attractive to the banking system, but we have to fight to keep our preferred position among many other borrowers who are seeking funding."  

He said IDMA is consulting closely with the commercial banks. "We feel confident that they understand and appreciate the current situation prevailing in the industry," Ganz said.

Alex Shyshlo, Rough&Polished European Bureau Editor, Antwerp