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

Analyst concerned De Beers problems underappreciated

17 april 2009

Debswana, the joint venture between De Beers and the Botswana government, has resumed operations at three of its mines after a two-month shutdown at the sites, RAPAPORT reported. De Beers said operations at the Jwaneng, Orapa and Letlhakane mines restarted on Wednesday, with 5,800 people returning to work. Production at the Damtshaa and Orapa No. 2 Plant will remain suspended until the end of 2009, De Beers said.
Production was suspended in February due to reduced demand for rough diamonds from DTC sightholders, brought about by the global economic crisis. “The economic downturn has impacted all stages of the diamond pipeline, and as retailers have lowered their level of purchasing it has taken time for inventory to work through the pipeline leading to a disproportionately negative knock-on effect on production,” said Stephen Lussier, chairman of De Beers Botswana. “We have begun to see signs of improvement in the market and expect this to continue as the year unfolds.”
The resumption of mining follows reports of increased demand and higher sales at the March-April DTC sight. The sight had an estimated value of $200 million, approximately double the sales at each of the three previous sights. DTC sales for the first quarter were nevertheless about 76 percent down from last year. Underpinning its difficult situation, the mining giant recently took a $500 million loan from its shareholders to help weather the depressed market in 2009.
Barclays Capital analyst Christopher LaFemina said in a note last week about the drag De Beers may have on parent company Anglo American, that the extent of De Beers’ problems may be underappreciated by the market. “We are concerned that more shareholder loans may be necessary to keep De Beers afloat,” LaFemina wrote.
LaFemina said he expects demand for diamonds to lag in the equity markets and the potential recovery in the global economy. “We believe diamond demand and prices will only gradually recover after 2009 and will not get back to 2007 levels until at least 2012,” he added.
LaFemina concluded that De Beers should ultimately be an incremental negative for the Anglo share price. Anglo owns 45 percent of De Beers, with the Oppenheimer family holding 40 percent and the Botswana government 15 percent.