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

Is De Beers No. 2?

03 july 2009

It raised eyebrows when a statement from Anglo-American said De Beers' diamond production dropped a whopping 90 per-cent in the first quarter of 2009, JCKOnline.com reported. A New York Times article about Russian diamond producer Alrosa then rubbed salt in the wound by writing, “Russia quietly passed a milestone this year: surpassing De Beers as the world's largest diamond producer.”
De Beers has not taken too well to any suggestion it's no longer king of the diamond hill. The company does note it plans to reduce production by about 40 percent in 2009. But spokeswoman Lynette Gould notes, “De Beers is, without doubt, the world's leading diamond mining and marketing company. Given that production levels in the first quarter were an anomaly, and seven months remain in 2009, we believe it's premature to have made [the New York Times] statement.” In other words, Russia may have passed us temporarily, but we'll pass them soon enough.
De Beers, however, has certain limitations that Russia doesn't. Because its antitrust agreements with the European Union prohibit stockpiling, it has reacted to the current downturn by halting production at its mines—which arguably has the same effect as stockpiling.
Russia, which controls an estimated 25 percent of the market, has no such limitations. It has continued its diamond production, stashing the diamonds for a later date, as De Beers once did. (An Alrosa spokesperson told the Times: “If you don't support the price, a diamond becomes a mere piece of carbon.”)
De Beers also is exploring new ways to sell its goods, especially since it recently received two interest-free loans, totaling $800 million, from its corporate parents to meet its debt obligations. It also has instituted “second-week sights,” which give sightholders a crack at goods that didn't sell the first week. It's talking with investors and investment funds about buying diamonds for their long-term value. And it has instituted volume discounts for sightholders, which some call de facto price decreases.