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

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

Working group set to rescue SA diamond industry

28 april 2009

Reports say the Diamond Council of South Africa has brought together a working group including industry, the government and labour to find ways to ensure the survival of diamond cutters, polishers and dealers under crisis conditions and grow the industry’s global market share.
Council chief executive Braen Migogo told Business Day that South Africa’s diamond beneficiators had been under severe pressure for more than a year, which had resulted in the closure of five large companies, including some De Beers sightholders.
“Up to the middle of last year there was an acute shortage of rough diamonds for SA’s beneficiators but from mid-year the situation reversed. A sharp downturn in demand for luxury goods culminated in an estimated 20 percent decline in luxury goods purchases in the US over Christmas, the peak period for the sector,” the paper reports.
Research group Bain & Company recently forecast another 15-20 percent decline in the luxury goods market in the first two quarters of this year and a 10 percent drop for this year. SA exports 90-98 percent of its cut and polished stones, it reported.
The working group had identified the need to address liquidity pressures with assistance from banks and the government, although it was not looking for “handouts”, Migogo was quoted as saying.
The working group was also busy with a comparative study into the fiscal regimes in the world’s leading cutting and polishing countries — Belgium, Israel and India — to find out what competitive advantages they enjoyed that SA did not.

Mathew Nyaungwa, Rough&Polished from Namibia