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

China, India not a magic bullet to diamond industry woes - analyst

11 june 2009

A leading diamond consultant firm has described as “wishful thinking” suggestions that China and India will lead the recovery of the global diamond market from the ravaging effects of the economic downturn.
WWW International Diamond Consultants co-founder Charles Wyndham told participants to the 5th edition of the Botswana Resources Sector Conference in Gabarone that the monetary value of China and India’s contributions to the diamond industry was still low.
“China and India are extremely positive long term growth markets, I don’t want to be-little them in any way, but they do not (contribute immensely to) any short term progress, (rather) the industry will have to do that,” he said.
He said if one takes a look at the diamond trade figures for the first quarter of the year, it would be noted that the US went down by 6 percent, Japan 15 percent, Germany 4 percent and UK 2 percent, while China and India went up by 30 percent and 5 percent respectively, adding that these were “very impressive numbers”.
Wyndham, however, said that China and India were far away from being major drivers of the recovery of the global diamond industry as they contributed lowly to the market share last year.
“In 2008, China represented 3 percent of the market, India 4 percent, Japan 11 percent, and USA 44 percent,” he said.
Diamond prices fell about 30 to 40 percent last year while sales of rough diamonds also collapsed by about 70 percent.
However, prices are expected to improve to about a 30 percent fall, in line with underlying retail diamond jewellery sales.
Wyndham also highlighted that the debate on whether diamonds were a commodity or a non-commodity was “rubbish”.
“We all know that diamonds are a commodity, and it should be treated like that,” he said. “However, once a diamond is cut and sold as jewellery it no longer becomes a commodity.
“If a diamond is in its raw state, it is a commodity, and if diamonds are treated as a commodity, it will allow the market to change, it will allow diamonds to take advantage of the market.”
He also said that the control of the diamond industry had limited the growth of the industry and there was need to open up.
Botswana’s Minerals, Energy and Water Resources minister Ponatshego Kedikilwe opened the two day conference.

Mathew Nyaungwa, Rough&Polished from Botswana Resource Sector Conference, Gaborone