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

Russia's Rough Exports Drop 64%

14 december 2009

Russia's rough diamond exports have picked up considerably since ALROSA returned to the market in July, but exports still lag way behind their 2008 level. The Finance Ministry said that current Kimberley Process (KP) records show that Russia exported 8.183 million carats of rough worth $571.5 million from January through September 2009, RAPAPORT reported citing Interfax. Figures for the same period of 2008 found that Russia exported 22.843 million carats worth $1.53 billion and 24.472 million carats worth $1.6 billion for the year as a whole.
During the first quarter of 2009, diamond exports plummeted nearly 98 percent to 135,597 carats valued at $724,000 from 6.649 million carats valued at $414.8 million one year ago. Second-quarter exports totaled 2.713 million carats or $29.87 million by value. The country shipped 2.016 million carats for $12.825 million to Belgium, after having sold no diamonds to the European Union (E.U.) in the first quarter. Exports to Israel resumed in the second quarter — these totaled 253,658 carats or $14.74 million. Exports in the third quarter jumped to 5.334 million carats for $540.9 million, with exports to Belgium at 4 million carats for $430.833 million and exports to Israel at 861,000 carats for $82.15 million.
In all, ALROSA plans to sell $2.127 billion of rough diamonds in 2009, $923.4 million of which will go to Gokhran, the state repository. It is forecasting sales of $3.3 billion, with mine output given at $2.314 billion for 2010, including $872.1 million to Gokhran. It is not clear what proportion of these sales will be exports.
KP records indicate that Russia imported 122,554 carats or $96.56 million in rough diamonds in the January through September 2009 period. This included 45,392 carats for $29.55 million in the first quarter, 40,949 carats for $30.658 million in the second quarter and 36,213 carats for $36.356 million in the third quarter.
Israel and Belgium remain the main sources of imported rough. Russia imported 59,345 carats for $68.6 million from Israel and 56,175 carats for $25 million from Belgium in the January to September period. Diamond-cutting plants were the main importers.
"In Q1, when ALROSA was absent from the market and loans were hard to obtain, many small cutting plants shut down. Only the bigger ones, like Kristall, Lev Leviev's Ruis and Yakutia-based EPL Diamond, remained. They had to buy foreign rough and many of them bought nonstandard diamonds, which were either smaller or of lower quality," Rough & Polished's Sergei Goryainov said.
"Cutting plants have now started buying a more customary range of rough now that ALROSA is back on the market and supplying diamonds to the domestic market. Kristall, for example, is working with its standard range again and is cutting large stones," he added.
Many cutting plants have still not recovered from the crisis.
"Only the three major cutting plants are still working steadily. The smaller ones are still finding it hard, partly because loans are still not easy to come by," Goryainov said.