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

Rough Diamond Prices Rise 40%, Investors Secretly Cash In

01 december 2009

As gold prices make the headlines on an almost daily basis recently, the 40% surge in uncut diamond prices has been almost a secret, until now… and investors are cashing in, reports citing
Although diamond retail sales have fallen from $74 billion last year to $65 billion this year, prices for rough diamonds have risen more than 40% since February.
With the economic climate forcing luxury purchases to the bottom of the public’s buying list, ironically, it is exactly this that has caused uncut diamond prices to soar.
In reaction to the financial crisis, privately held De Beers Group, BHP Billiton, Rio Tinto,  and Russian miner Alrosa all slashed production this year. However, these four diamond miners control over 90% of global production and as a result, prices have been naturally influenced through a Byzantine system of closed sales, secret long-term contracts and a few auctions leading to enormous profits.
The results speak for themselves, with BHP shares tripling over the last year and Rio Tinto shares up four fold. As RBC forecasts further major reductions in global diamond mine production, it is obvious that such companies have little incentive to drive down diamond prices when actually, they are literally, raking in the cash.