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
Pandora’s endorsement of lab-grown stones will not devalue natural diamonds – Zimnisky
07 june 2021
Jewellery retailer Pandora recently announced that it will no longer purchase natural diamonds as it had switched to lab-grown diamonds. However, diamond market analyst Paul Zimnisky told Rough&Polished’s Mathew Nyaungwa in an exclusive interview that historically diamonds represented only a small portion of the jewellery offered by Pandora. Although the chain sells 85 million trinkets a year, only 50,000 featured diamonds, which makes it a small player in the natural diamond market. Zimnisky said that the majority of fine jewellers indicated that their customers still prefer natural stones ahead of synthetics and they do not have plans to change. He said Pandora’s announcement to only sell man-made diamonds will not lead to a devaluation of natural diamonds.
“The volume of Forevermark diamonds that we drive through Indian partners is much higher than in other parts of the world,” says Sachin Jain
31 may 2021
Sachin Jain has been a part of the Indian arm of De Beers that dates back to 2010 when he came on board as Head of Retail. In year 2014 he took over as President of Forevermark and today he is the Managing Director of De Beers, India. His single-minded focus, leadership skills and sharp vision have led to the phenomenal growth and expansion of the brand. Today, Forevermark Diamonds is one of the most trusted brands in the industry. As Managing Director of De Beers’ India operations, Sachin is responsible for the Forevermark business in the Indian subcontinent and the Middle East GCC business. He is also a very respected and invaluable member of the jewellery trade helping shape the future of the diamond business. Throughout his two-decade career, Sachin’s steely determination to succeed against all odds, his strong sense of ethics and eternal optimism has held him in good stead in the business of building and establishing global brands in India. Here, in an Interview with Rough&Polished, Sachin Jain sees immense potential for further growth of the Forevermark brand in India.
GSI's new Jaipur office to specialize in colored gemstones
24 may 2021
Gemological Science International (GSI) has opened a new laboratory in Jaipur, India. Since this state is the capital of colored gemstones, the laboratory will have a dedicated division specializing in colored gemstone geographical origin and identification. A team of GSI professionals will provide highly qualified services for the certification of gemstones.
Rough&Polished spoke with GSI's new Jaipur office Head, Meenu Vyas, an industry expert, FGA, to find out what services and initiatives the new GSI lab will offer.
“We welcome the mandatory hallmarking in the interest of consumers, but it is also essential to have proper and evenly spread infrastructure across India,” asserts Ashish Pethe, Chairman, GJC
17 may 2021
Ashish Pethe, Chairman of All India Gem and Jewellery Domestic Council (GJC), formerly known as All India Gems & Jewellery Trade Federation (GJF) is based in Mumbai. As the 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.
After completing his bachelor’s degree in B.E. (ELECTRICAL) from VJTI, Mumbai followed by masters in MBA (Marketing) from Symbiosis Institute of Business Management, Pune, and a certificate course in Diamond Grading from International Gemological Institute, Ashish has been actively involved with the trade bodies at various levels. Now, as Chairman of GJC, Ashish Pethe’s vision is to transform and energize jewellers across India to bring more synergies within the indigenous industry. His motto is to unite the entire industry and work towards achieving GJC's set goal of ‘One Industry One Voice’. Here, in an Exclusive Interview with Rough&Polished, Ashish Pethe takes us through the Indian jewellery sector, articulating the nuances of the traditional market.
ALMAR is a case in point that will serve to develop the process of funding junior companies and geological exploration in general
10 may 2021
Arkticheskaya Gornaya Kompaniya (AGK, Arctic Mining Company) develops the diamond deposits in the Lena-Anabar diamondiferous sub-province of Yakutia under the ALMAR (Diamonds of the Arctic) brand. This company attracts investments for this project and Rough&Polished asked Andrey Novikov, the company’s Deputy Director General for Commerce, to speak on this.
Stephan Wolzok: When we’re all able to go back to our “normal” lives, then the market will do the same
03 may 2021
Rubel & Ménasché, the well-known Paris-based diamond company, has been supplying the jewelry houses of Place Vendôme with high-end small goods for over 50 years. The company has been granted European Commission “Authorized Economic Operator” (AEO) status by the government of France, which means that it meets EC standards in respect of customs compliance, record-keeping, financial solvency, security, and safety standards. Rubel & Ménasché was one of the first companies to be certified by the Responsible Jewellery Council. Stephan Wolzok, CEO of Rubel & Ménasché, has kindly agreed to answer Rough&Polished's questions.
Advanced Diamond Online Academy - how Branko Deljanin raises awareness among industry professionals
26 april 2021
The intercontinental diamond educational web series, launched by BrankoGems Advanced Diamond Online Academy, premiered on April 9, 2021. A special course, created for diamond professionals, aims to raise awareness among industry players on diamonds, as well as the need to identify diamonds quickly and accurately and enhance their traceability. Rough & Polished spoke with Branko Deljanin, President and Head Gemologist at CGL Canadian Gemlab and founder of Branko Gems to learn more about the Academy's new online initiative and how it can benefit diamond professionals.
Igor Kevchenkov - “The things that will survive us”
19 april 2021
Igor Kevchenkov, Director General of ‘Russkaya Yuvelirnaya Kompaniya (Russian Jewellery Company) No. 1’, one of the seasoned professionals in the jewellery industry due to many years of experience, answered the questions about the state of the Russian jewellery industry in an interview to Rough&Polished. Russkaya Yuvelirnaya Kompaniya No. 1 that comprises the Moscow Jewellery Factory of the same name and the retail chains in Novosibirsk and Moscow manufactures exclusive jewellery pieces and sells them on the Russian market. It specializes in the production of high-standard gold jewellery studded with diamonds and precious stones.
Gold brings stability, acts as insurance, and generates higher risk-adjusted returns especially in times of heightened uncertainty
12 april 2021
Somasundaram PR (Som) joined the World Gold Council in January 2013, as Managing Director, India. Based in Mumbai, Som is responsible for leading the World Gold Council's activities across the Indian gold market. Som has over 27 years of experience across diverse industries including the FMCG and banking sectors. Before joining the World Gold Council, Som was the Chief Executive Officer of a regional private bank and earlier to that, he was with Standard Chartered Bank in India for over eight years in various senior roles as a member of the Management Committee. Previously, Som had spent over 13 years with Hindustan Unilever (HUL) in a variety of roles in financial management, logistics and M&A. He is a qualified Chartered Accountant. Here, in an exclusive Interview with Rough&Polished, Som walks you through the Indian Gold Sector, envisaging a bright future for the industry going forward.
Flun Gumerov - “I think that a diamond is a unique gift from nature. A synthetic diamond is a man-made imitation of the gift of nature”
05 april 2021
Flun Gumerov, Chairman of the Council of the “Jewellers Guild of Russia” Association and the founder of Almaz-Holding, told Rough&Polished about what is new in the legislation relating to the jewellery production and trade, about the sentiments at the Jewellers Guild of Russia and their plans for the future.
