News
Indian jewellers promote natural diamonds amid competition from lab-grown stones
Falling prices for lab-grown diamonds and their resulting rise in market share are transforming India’s diamond jewellery market and prompting jewellers to take proactive measures.
Yesterday
Ethiopia opens first gold refinery to serve region
Ethiopia has inaugurated its first gold refinery, a $50 million joint venture that the government hopes will establish the country as a regional hub for precious metals processing, Prime Minister Abiy Ahmed announced over the weekend, according to Reuters...
Yesterday
Anglo American bets R11.2B on South African mining's future
Anglo American has reaffirmed South Africa's potential as a premier mining investment destination, even as the company commits R11.2 billion ($677 million) to an ultra-high dense media separation iron-ore project at Sishen in the Northern...
Yesterday
Nornickel forecasts $4 billion in precious metals revenue for 2026 - report
A senior Nornickel representative noted that the company expects to generate $4 billion in revenue from precious metals sales this year.
Yesterday
Russia to build first permanent REM magnet plant
In 2028, Russia is set to start the construction of its first plant for manufacturing permanent magnets from rare-earth metals (REM) in the city of Glazov, to be commissioned in 2029 with an initial capacity of 500 tonnes per year, said Andrey...
Yesterday
“Telling the people about the beauty and value of the Baltic gem”
29 may 2023
The Kaliningrad Amber Integrated Plant belonging to the State Corporation “Rostec” is the world leader in mining amber (90% of the world’s reserves of the Baltic gem are concentrated at the Primorsky Quarry). The Moscow Representative Office of the Kaliningrad Amber Integrated Plant occupies the ground and first floors of a historic building on famous Stary (Old) Arbat Street. In addition to the Kaliningrad Amber Plant’s Representative Office, there is a company store selling amber jewellery and souvenirs, as well as the Amber Gallery’s rooms that house the amber collections brought here from the Kaliningrad Amber Integrated Plant’s reserve stock. In April, the Amber Gallery was reopened after a major renovation. Maria Zhuravel, Head of the Moscow Representative Office of the Kaliningrad Amber Integrated Plant, told Rough&Polished about its Moscow branch and its plans, about the renovated Amber Gallery, the peculiar features of the Baltic gem and amber-studded jewellery.
TaTe Diamonds: "Our goal is to successfully complete the Enterprise Development Program and work towards achieving Sightholder status in the shortest time possible"
22 may 2023
taShi Shiimi-ya-Shiimi is widely and rightly known as the 1st Namibian diamantaire. As Founder / Managing Director of TaTe, his primary focus is centred on growing and diversifying TaTe Group’s portfolio.
The company’s current holdings span a wide array of industries and include interests in the following sectors like diamond: Rough Trading & Manufacturing, Oil & Gas, and Real Estate. Armed with an undergraduate degree in Accounting and Finance, as well as an MBA - specialising in Strategic Planning from the USA, taShi Shiimi-ya-Shiimi worked for 3 Fortune 500 companies before venturing into the entrepreneurial world. Here, in an exclusive Interview with Rough&Polished, taShi Shiimi-ya-Shiimi spells out his goals for TaTe Diamonds, which he aims to grow into a fully integrated diamond company, right from mining to retail.
Philosopher’s Stones by Viktor Tuzlukov
15 may 2023
Viktor Tuzlukov is a recognized master in the art cutting of top-quality gemstones, an honored worker of gemstone cutting art, and a member of the US Faceters Guild. He is on the award panel at the international jewellery design and cutting excellence competition in Hong Kong. He is the founder of the Russian Faceters Guild (2012) and among the winners at the international faceting competitions in gemstone cutting in the USA, England, Spain, and Australia. His works have been displayed at the leading museums of the world like the Historical Museum in Moscow, the Smithsonian Museum in Washington, the Museum of Natural History in Los Angeles, the Louvre, and the Vatican Museums. The name of Viktor Tuzlukov as a diamond cutter received an entry in the Guinness Book of Records three times; the leading gemological laboratory, the Gemological Institute of America (GIA), indicates his name in the certificate for gemstones. The synthetic stones he faceted received worldwide recognition and are purchased by the world’s leading collectors. Viktor Tuzlukov told Rough&Polished about the secrets of his excellence in faceting and the philosophical significance of the one-of-the-kind collections he created.
Botswana, De Beers relationship ‘too big to fail’ – Zimnisky
08 may 2023
The government of Botswana and De Beers are currently negotiating mining licences at the same time they are negotiating a new marketing and sales agreement. The marketing agreement has already been postponed three times, amid speculation that Gaborone is looking to change the structure of its partnership to generate more revenue. Through the state-owned Okavango Diamond Company, the government currently receives 25% of Debswana goods for independent sales. President Mokgweetsi Masisi was quoted earlier this year as saying that his government wants a larger share of local output and that it is prepared to leave the talks if its demands are not met. Independent diamond industry analyst Paul Zimnisky told Rough&Polished’s Mathew Nyaungwa in an exclusive interview that Masisi’s threats were mere posturing as the relationship between Botswana and De Beers is “too big to fail”. NB: Zimnisky publishes a professional monthly subscription-based industry report called “State of the Diamond Market” that includes all of his data, forecasts and analysis. He also publishes a rough diamond price index.
India's gem and jewellery industry is all set to race ahead...
01 may 2023
This is the second tenure for Vipul P Shah as Chairman of the Gem & Jewellery Export Promotion Council of India (GJEPC). During his term from October 9, 2012, to October 16, 2015, he was at the forefront to drive export demand and was successful in strengthening ties with mining companies and diamond trade bodies. Among the many important milestones, he was instrumental in organizing GJEPC’s first World Diamond Conference which was attended by Hon. Prime Minister Narendra Modi and Finance Minister Smt. Nirmala Sitharaman. At the Council level, he implemented the policy to have members on a rotation policy so that new people come on board to bring in a fresh perspective and new energy levels. As CEO & Managing Director of Asian Star Co. Ltd., Vipul Shah has built an empire with his astuteness, focus and determination, and is a force to reckon with. A visionary with rich experience in the diamond industry, he has absolute knowledge of current business trends prevailing worldwide as well as deep insight into the future needs of the diamond market. His expertise in financial matters remains undisputed. His broad strategic vision, business acumen and professional conduct have contributed significantly to transforming Asian Star from a manufacturing company into a value-adding, vertically integrated business partner to its clients. He has been instrumental in establishing the company’s jewellery business and global distribution network, currently one of the best in the industry. Under his dynamic leadership and able guidance, the company has attained the status of being one of India’s leading diamond companies. Here, in an exclusive interview with Rough&Polished, Vipul Shah provides insights on the various challenges being faced by the Indian gem and jewellery industry.
LGDs have created a separate category for itself and sooner or later they will have to be embraced by the industry
24 april 2023
A third-generation heir of M/s Waman Hari Pethe Jewellers, established in Mumbai way back in 1909, Ashish Pethe comes with decades of experience in the jewellery sector and has been a Partner of Waman Hari Pethe & Sons since 1995. Having aced his bachelor’s degree B.E. (ELECTRICAL) from VJTI, Mumbai; followed by an MBA (Marketing) from Symbiosis Institute of Business Management, Pune with Distinction, Ashish Pethe also completed a certificate course in Diamond Grading from International Gemological Institute. Besides, taking care of the jewellery business, Ashish Pethe has been actively involved with trade bodies at various levels. Till recently, Ashish Pethe held the post of Chairman of All India Gem and Jewellery Domestic Council (GJC), during which period he took all steps to transform and energize jewellers across India and bring more synergies within the indigenous industry. Here, in an exclusive Interview with Rough&Polished, Ashish Pethe takes us through the Company, M/s Waman Hari Pethe, the Indian domestic jewellery sector, and articulates the nuances of the traditional jewellery market.
"585*GOLDEN": a strong jewelry brand is more than high sales
17 april 2023
2022 has become a turbulent year for almost everyone in Russia. And how does the country's largest jewelry chain feel? Has the structure of demand, sales volumes and approach to customer interaction changed? Andrey Shlyaev, Marketing and Sales Director of the most represented jewelry retailer in Russia, the "585*GOLDEN" chain, kindly agreed to answer these and other questions of Rough&Polished. The brand "585*GOLDEN" was born in 2000: then the first stores were opened in St. Petersburg. By 2007, the chain already had 425 stores in 130 cities of the country, having increased 10 times in seven years. In 2011, "585 * GOLDEN" launches a franchise, in 2013 – online sales. In 2014, with a symbolic number of 585 objects, "585*GOLDEN" becomes an international brand: stores are opened in Kazakhstan. In 2017, the network turns into a family of brands: the Center of Wedding Rings network is launched. In 2019, having exceeded a thousand retail outlets, "585*GOLDEN" is holding a grandiose promotion for customers: future newlyweds participate in the drawing of a wedding trip and an apartment in St. Petersburg. In 2021, the premium brand "585*Diamonds", the brand of Orthodox jewelry "Pokrov" and oriental jewelry "Dahabi" will be launched. And in 2022, the chain opened in Moscow Russia's first multi-brand jewelry hypermarket with an area of more than 1100 square meters.
"Today excellence is not about a product alone, it's a mindset," advocates Antonio Cecere, President, Geneva Diamond Exchange
10 april 2023
H.G. Antonio Cecere, CEO of Ciceres Consulting and Cecere Monaco, is President of Geneva Diamond Exchange, and Vice President of Monaco Diamond Exchange, non-profit associations watchdogs of the conflict diamonds trade to prevent their entry into the mainstream markets. In 2016, Cecere received the Honorary Diploma from the International Police Association in the Principality of Monaco for his ethical contribution and in 2006 he was awarded in the United Kingdom by Her Royal Highness Princess Royal for services rendered to the industry. Antonio Cecere's consulting activities include advising large corporations in multiple sectors, like Lamborghini and Bentley Motors, Microsoft and HSBC; his experience of over two decades includes repositioning jewellery brands of Swarovski Group and Richemont Group. He was a Professor at the International University of Monaco and a lecturer at Bicocca University in Milan. Here, in an Exclusive Interview with Rough&Polished, Antonio Cecere explains how ethical sourcing changed in the last decade and how it expanded to the industrial sector that revolves around mining.
There are increasingly more connoisseurs of lab-grown stones in Russia lately
03 april 2023
The DIATEC TRADING HOUSE specializes in the sale of lab-grown diamonds (LGD) and LGD-jewellery. Timur Khakimov, Executive Director of DIATEC TRADING HOUSE, told Rough&Polished about the technologies for growing diamonds in the laboratory, about the types of natural and synthetic diamonds, as well as about the future prospects of the market for the man-created stones based on science and the LGD-jewellery.
Lucapa boosts Angola kimberlite exploration with establishment of standalone bulk kimberlite sampling plant
27 march 2023
Lucapa Diamond and its Angolan partners are making great strides to improve the Lulo kimberlite exploration programme. Company chief executive and managing director Stephen Wetherall told Rough & Polished’s Mathew Nyaungwa on the sidelines of the Mining Indaba held recently in Cape Town, South Africa that they established a standalone kimberlite bulk sampling plant. This, he said, allows bulk sampling to take place uninterrupted. He said Kimberlite L164 is their most diamondiferous kimberlite. The early bulk sample results of kimberlite L164 showed a grade of about 3 carats per 100 cubic metres and a large average stone size of 1.61 carats per stone. Wetherall said kimberlite L164 is the 10th diamondiferous kimberlite they have discovered on the Lulo concession. Lucapa is also conducting primary source exploration programmes on Brooking in Western Australia and Merlin in the Northern Territory. The company has a drilling plan to put four holes into two targets on its Botswana tenement, but the programme was delayed due to licence renewals and the COVID-19 pandemic. Wetherall said they intend to resume drilling this year after their exploration licence for the Orapa Area F project was renewed for a further two years.
