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
“The industry is under some pressure, and as we all know, diamonds are formed under great pressure!”, says Dr Martin Leake
09 september 2019
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 was involved in many projects, including developing transparency in Commodity markets, Strategy, Sales, Marketing, Value Chain analysis, Price Discovery, Business Improvement (six sigma black belt), Optimising Processes / Process Discipline, Organisational Change Management and Sales Transformation and so on… Currently, Dr Martin Leake is the Secretary to the Dubai Diamond Exchange and is Responsible for Precious Stones at the Dubai Multi Commodity Centre (DMCC). In an interview with Rough&Polished, Dr Martin Leake talks about the much awaited ‘Dubai Diamond Conference, which is coming up later this month; and also expresses his confidence on the global diamond industry becoming stronger very soon.
Recovery of diamond industry within a year if end-consumer demand holds – Zimnisky
02 september 2019
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 that although supply indigestion is currently the biggest challenge, the natural diamond market is now through most of the mid-stream deaveraging and inventory levels will be more sustainable going forward. He said the industry will be much better positioned once wholesalers, traders and retailers digest current inventory. Zimnisky also projected that recovery of the diamond market will be within a year’s time if end-consumer demand holds.
Working according to one’s weaknesses and strengths
26 august 2019
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 started to pursue his career in diamonds. But, before joining his father’s business Amish Diamonds, he strove to learn the ropes of the business, right from understanding rough diamonds, cutting and polishing, assorting, trading… and also had a stint with the jewellery making process. Armed with all the required skills, Canon wanted to expand the business and take it globally. Travelling to the Far East, Belgium, USA helped him learn, not only the art of selling diamonds, but about creating and nurturing customers and how to cater to them. In 2007, a free zone company -- Aakar Diamonds F.Z.E-- was established in Dubai; and in 2015 moved to the main market to open Aakar Diamonds LL and have a better presence in the market. The rest, as they say, is history… Today, Canon Jhaveri steers Aakar Diamonds to spread its wings in the global markets with the confidence of a veteran. In an Interview with ROUGH and POLISHED, Canon Jhaveri tells us about his plans to grow his business, but not before expressing his admiration for Dubai and the country’s welcoming attitude to entrepreneurs, which helped him establish Aaakar Diamonds LLC.
The diamond business is yet bright and has a good future in the coming days
19 august 2019
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 the company to explore new opportunities and potential markets. Today, Dharmanandan Diamonds has reached an annual turnover of over $ 1 billion, and under Hitesh’s leadership, the company has progressed to become one of the most successful companies in the shortest time. Hitesh is also very actively involved in various social welfare projects, focusing on Education, Medical and Social Awareness, which are appreciated by social and government organisations by presenting various CSR awards to the company. Here, in an interview with Rough & Polished, Hitesh Patel expresses his views with the much-needed optimism for the diamond industry --- a breath of fresh air in an atmosphere of dismay?
The talk around LGDs is all hype
12 august 2019
As a teenager, Luca Luterbacher began to design and manufacture single pieces and individual items for wealthy private family friends from Switzerland and Lichtenstein. In 2017, he finally invested in his own luxury trademark "Luterbacher." Currently headquartered in St.Gallen, Luterbacher Diamonds is planning to move to Genf, located about 350 km in the south-west to be closer to potential customers. Since its founding in 2017, Luterbacher Diamonds has been manufacturing for the upper-class segment. Here, in an Interview with Rough & Polished, Luca Luterbacher, Founder, Luterbacher Diamonds, explains his plans for the future lucidly, and rationalizes his thoughts… straight from the heart.
Correct adjustment of advertising is the major challenge
05 august 2019
At the recent Amberforum held in the Baltic city of Svetlogorsk, Andrey Yanchevsky, Head of the trade representation of the LA VIVION jewelery company shared his opinion with the correspondent of Rough&Polished on the state and prospects of the jewellery and polished diamond markets. Andrey Yanchevsky has run the gamut of work in the jewellery industry, from a software developer to the Head of the representative office of the LA VIVION jewellery brand.
Small-scale diamond mining is the future in Botswana – Leon Daniels
29 july 2019
Pangolin Diamonds, which is currently the most active diamond exploration company in Botswana, has called upon authorities in the southern African country to include diamonds into the minerals permit for small scale mining operations. Pangolin chief executive Leon Daniels told Rough & Polished’s Mathew Nyaungwa on the sidelines of a mining conference in Gaborone recently that small-scale diamond mining is the future as most economically viable kimberlites to be discovered in Botswana will be small, including dykes and small pipes with all operations fitting into a 50-hectare area.
“There has been a strict policy in Israel against LGDs; have been forbidden on IDE trading floor for years.”: Aviel Elia, Managing Director- IDI
22 july 2019
Aviel Elia, an attorney by profession, has served as Legal Adviser and Company Secretary of IDI since 2013. As a key member of the Israel Diamond Institute (IDI) management team, he has been involved in developing company strategy and negotiating all critical company transactions. He has been responsible for many aspects of corporate and operational management, including budgets, regulatory processes and implementation, and has represented the Institute in dealings with government and official bodies. Aviel Elia holds a BA in Business Administration and LLB from the Interdisciplinary Center Herzliya and is studying towards an Executive MBA at Hebrew University. A security expert, he held a number of managerial positions in the State Security Services and the Israel Airports Authority’s security system. Now, as the Managing Director of IDI, Aviel Elia is putting in all efforts to steer the organization to grow its full potential. Here, in an Interview with Rough&Polished, Aviel Elia talks about IDI’s initiatives and plans going forward.
Unifying role is the main objective of the National Gemological Association
15 july 2019
Yuri Shelementiev runs the Gemological Centre (GC) at the Moscow State University and is a president of the National Gemological Association (NGA) uniting the gemologists of Russia. The head of the MSU’ GC and the NGA answered the R&P’s questions about the today’s trends in the international and Russian gemology as well as about the state of the Russian jewellery market.
“Our goal is to bring clarity to the offering of Lab Grown Diamonds”, asserts Chris Casey, President, Lab Grown Diamond Council
08 july 2019
Chris Casey is a 15-year veteran of the diamond and jewelry industry. Chris also has extensive experience in market research as Founding Managing Director of the NPD Diamond and Diamond Jewelry Service where his responsibility included the development of a retail panel of 4,000 doors contributing total transactional history used to drive detailed sell-in and sell-through analytics for the domestic US diamond market. Prior to NPD, Chris was Vice President of the Nielsen Jewelry Group heading National Jeweler and Europa Star media properties as well as the Couture and JA New York Trade Shows. Prior to joining the jewelry industry, Chris managed trade media and research properties in the apparel and construction industries. In an interview here with Rough & Polished, besides explaining the goals of the newly formed LGDC, Chris Casey believes clarity will help grow the LGD market and also benefit all players involved in Lab Grown Diamonds.
