Didier Giard: Stiff competition among the diamantaires is one of the factors of the price war

On September 9, 2019, the French Association of Gemmology (l’Association Française de Gemmologie, AFG) held its regular Paris Gemmological Rendez-Vous. Its organizer, Didier Giar, the head of the AFG kindly agreed to answer questions from Rough&Polished...

16 september 2019

“The industry is under some pressure, and as we all know, diamonds are formed under great pressure!”, says Dr Martin Leake

A veteran in the field of precious stones, Dr Martin Leake a doctorate geologist had worked for 22 years with BHP Billiton; and also set up a world-class marketing unit for Grib Diamonds in Antwerp. Later, as an Independent Consultant, Dr Martin Leake...

09 september 2019

Recovery of diamond industry within a year if end-consumer demand holds – Zimnisky

An independent diamond industry analyst and consultant said the natural diamond industry will be in a better position within a year time if end-consumer demand holds. Paul Zimnisky, CFA told Rough & Polished’s Mathew Nyaungwa in an exclusive interview...

02 september 2019

Working according to one’s weaknesses and strengths

Canon Jhaveri grew up watching his diamond-dealer father and uncle working with diamonds. The sparkles of the diamonds fascinated the young boy, who became more intrigued every time he visited his father’s office. After graduating in 2002, Canon Jhaveri...

26 august 2019

The diamond business is yet bright and has a good future in the coming days

Hitesh Patel, Managing Director of Dharmanandan Diamonds Pvt. Ltd., joined the family business in 1997 to help his father Laljibhai Patel, the founder of Dharmanandan Diamonds Pvt. Ltd. Egged on by its success, Hitesh set up the overseas presence of...

19 august 2019

Tirisano gives Rockwell Diamonds headache, mull retrenchments

18 july 2012

Rockwell Diamonds said that its overall financial performance continues to be affected by the Tirisano start up.
It said although the South African mine had increased its production volumes by the end of the first quarter, mining was limited to a less clay-rich area, in the absence of a wet front end processing capability, which resulted in a smaller average diamond size.
Rockwell said in a statement that its board had approved an investigation initiated at the beginning of July to reconsider the mine plan at Tirisano.
This included strategies to alter the mining activity to Pit 4, which would reduce stripping ratios, and recover diamonds of a grade more in keeping with current market appetites.
“This plan will also reduce the mine's fixed cost structure and include retrenchments,” it said.
“The current processing plant will be temporarily placed on care and maintenance while the newly commissioned wet front end would be part of a simplified processing plant using existing equipment.”
Further technical studies would be conducted to confirm current estimates of the resource, and this would include additional independent investigations by expert persons, it said.
Meanwhile, Rockwell said that the longer-term supply and demand fundamentals for gem quality investment stones, comprising the majority of its production, remained positive. “Although the market has experienced price declines of some 20 percent for diamonds weighing less than 1.5 carats, such as those recovered this quarter at Tirisano, the +2 carat segment of the market that represents some 80 percent of Rockwell's production, is expected to be price stable for the remainder of the year,” it said.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished