Work hard and you will find success

Eduard Utkin, Director General of the “Jewellers’ Guild of Russia” Association, expert of the RF Chamber of Commerce and Industry’s Committee on Precious Metals and Precious Stones, told R&P about implementing the SIIS PMPS (State Integrated Information...


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

De Beers to Keep Namaqualand Open at Reduced Capacity

20 march 2009

De Beers Group is going to keep Namaqualand Mines open, though at a reduced level, and will try to sell it when market conditions improve, the company's media relations manager, Lynette Gould, said yesterday. Talks between Trans Hex and De Beers on a possible deal were terminated two weeks ago, RAPAPORT reported.
"The company is confident that in normal trading conditions and with few known new diamond resources on the horizon and the likely growing demand for diamonds in the future, Namaqualand Mines remains an attractive alluvial deposit to an investor," Gould said. "The company will carefully consider the best route forward when the circumstances are more conducive."
The global diamond industry has been hit hard not only by pressure on consumers but also by tight credit conditions, as the diamond pipeline depends on bank financing. Industry monitor Polished Prices's index of diamond prices is 14.2 percent lower than it was a year ago.
Polished Prices said this week that the Diamond Trading Company (DTC), De Beers' marketing arm, was offering any sightholder doing business of more than $40 million in the next two sights a substantial discount on the next $20 million of business it concluded.
Gould said that in response to feedback from sightholders and "in light of surplus availability for which demand has otherwise been exhausted," the DTC was targeting high-volume business, but the terms remained strictly confidential.
Although De Beers remained vague about how much operating capacity would be suspended this year, it is likely to peak at over 70 percent with temporary closures in Namibia and Botswana. Those two operations together contributed 34 million carats of the total group production of 48 million carats in 2008.
De Beers two new Canadian mines, Snap Lake and Victor, closed for a fortnight in December and will close for another two weeks this coming December.