News
Tharisa meets FY2026 guidance, Karo Platinum fully funded as net debt swings to $51m
Tharisa has reported full-year production in line with guidance for both platinum group metals (PGMs) and chrome concentrates, while confirming its Karo Platinum project in Zimbabwe is now fully funded following a $300 million bond issue.
Today
Israel’s diamond sector poised for revival following tax reforms and De Beers comeback
De Beers, one of the world's major diamond market players, has announced the resumption of its operations in Israel after a nine-year absence, which became the latest sign of revival of the diamond industry in the country.
Today
Kefi Gold and Copper restarts Tulu Kapi development after safety review
Kefi Gold and Copper has resumed development at its Tulu Kapi gold project in Ethiopia following a suspension that began on September 7 after a serious safety incident three days earlier.
Today
Nornickel implements smart melt monitoring system
Norilsk Nickel has installed a smart melt monitoring system at its metallurgical plant in Norilsk in collaboration with Reksoft. The system uses computer vision to assist the converter operator in identifying phases during the tapping process.
Today
ALROSA to help amplify Arctic agenda at UN
In preparation for the 31st UN Climate Change Conference (COP31), ALROSA experts and other stakeholders from Russia discussed a unified approach to strengthening the country’s position and the Arctic agenda at UN climate conferences.
Today
NDTC to supply rough worth about $400 m this year
18 december 2017
The Namibia Diamond Trading Company (NDTC), a joint venture between the Namibian government and De Beers, said it expects to supply rough diamonds worth $390 million this year. The diamond trader, which has 11 sightholders, had a fixed supply of diamonds worth $430 million under a new 10-year deal signed last year. NDTC chief executive Shihaleni Ndjaba told Rough & Polished on the sidelines of a diamond conference in Gaborone, Botswana in November that the figure, however, fluctuated annually because it was index-linked to price so that volumes do not decrease relative to any price increases. He said that the future of diamond manufacturing in Namibia was bright and he would want to see small-scale operators being established as was the case in South Africa.
It's our responsibility to capture the imagination of future generations towards diamonds
11 december 2017
As CEO of Beverly Hills-based Grand Metropolitan - a privately-held luxury goods holding company with a 130-brand portfolio - Vin Lee carries the burden rather lightly on his shoulders. Having migrated from Canada as a baby, it did not take long for Vin Lee to ascend the US luxury world and establish himself as a formidable businessman. Besides his business in the diamond industry, he monitors his companies' participation in charity auctions, celebrity events, and red-carpet functions. Constantly on the move, he spends his time in South Florida & Southern California. In an interview with Rough & Polished, Vin Lee elaborates on his earlier days; entry into business; and his hopes for the future of the industry.
‘Non-diamond producing countries shouldn’t lead KP’
04 december 2017
Non-diamond producing countries should not lead the Kimberley Process (KP) as was the case last year with the United Arab Emirates (UAE), according to the African Diamond Council and African Diamond Producers Association chairperson, M’Zee Fula Ngenge. He told Rough & Polished on the sidelines of the De Beers diamond conference in Gaborone, early November, that diamond producers cannot be “overseen” by consumers of diamonds. Diamond producers and consumers as well as the civil society were allowed to be members of KP, which was established in 2003. A country or bloc has an opportunity to chair the diamond watchdog for a year and the current leader, Australia, will pass on the baton to the European Union when its term come to an end next month. Ngenge also said that some diamond mining company heads are not prepared to hear what they were advocating for. He, however, praised De Beers for their willingness to listen to the organizations’ viewpoints.
Jewellers’ Guild of Russia sees its mission in creating highly developed national jewellery market
27 november 2017
In recent years, the Jewellers’ Guild of Russia has noticeably stepped up its activities. Eduard Utkin, General Manager of this Association told Rough & Polished about what is happening in the country’s jewellery sector, the tasks facing the community and commented on the latest developments in the industry.
Any color diamond is a great investment
20 november 2017
Bruno Scarselli belongs to the 3rd generation of the Scarselli family, which has for the last half-century been producing and selling some of the world’s highest quality yellow, blue and pink diamonds available on the market. Bruno heads the company that is known worldwide for three generations as masters in the art of colored diamonds; and possesses an extensive inventory of special and unique stones in all colors, shapes, and sizes as well as signature jewelry pieces. Here, in an interview with Rough&Polished, Bruno Scarselli speaks about the company, which has dedicated the last 30 years toward the marketing of color diamonds via museum, public lectures, auctions and private events... and more.
It’s crucial everybody feels confident that their suppliers use the System of Warranties - Stephane Fischler
13 november 2017
The System of Warranties (SoW) in the diamond industry dates back to 2002, when the World Diamond Council (WDC) in team with the World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association (IDMA) launched this package of measures to strengthen the Kimberley Process Certification Scheme (KPCS) as a voluntary pattern of industry self-regulation aimed at weeding out conflict diamonds from the supply chain. The annual general meeting of the WDC recently held in Dubai was focused on broadening the scope of the KPCS and formalizing principles related to the “duty of care” for responsible business practices in the framework of the System of Warranties. In this interview given to Rough&Polished, Stephane Fischler, Acting President of the WDC shares his views on the issues raised during the two-day event.
IIDGR’s proprietary technology gives polished diamonds unique identity
07 november 2017
The International Institute of Diamond Grading & Research (IIDGR), a unit of the global diamond giant, De Beers, grades natural stones and is also using its proprietary inscription technology to inscribe a unique identification on tables of each stone used in the “diamond bullion.” Company president Jonathan Kendall told Rough & Polished’s Mathew Nyaungwa in an interview that the minuscule inscription made it difficult to forge the identity of a polished diamond. This, he said, provided “assurance” regarding the natural origin of each diamond and physical attributes.
In future, only those who offer innovative designs will survive
30 october 2017
A science graduate from Madras University, Srinivasan's one-man venture with just 10 employees launched in 1984 has now grown into the present Emerald Group, in about 3 plus decades. The Group from Southern India is one of the largest jewellery manufacturing conglomerate employing more than 4 500 personnel, and boasting of about 300 000 designs in gold, diamond and platinum jewellery. The award-winning Group has gradually transformed gold jewellery manufacturing from the conventional methods to technology and talent-driven one. Emerald Group owns four ultra-modern production facilities in Coimbatore each specializing in different kinds of product range, with an annual jewellery production of about 20 tons. Speaking to Rough & Polished, Srinivasan expresses his opinion candidly about the Indian jewellery sector and its future prospects, with his insights on the need for focusing on the 'design aspect' to survive in the future, where changing tastes of the millennial consumers will rule the demand scenario.
Conditions are still very difficult - Ernie Blom
23 october 2017
Ernie Blom, the President of the World Federation of Diamond Bourses (WFDB) for the third term, has served on a range of industry bodies as an executive as well as chairman for many years, including Chairman, Diamond Dealers Club of South Africa; Chairman, Rough Diamond Dealers Association; Chairman, Master Diamond Cutters Association; Chairman, Jewellery Council of South Africa, South African Diamond Board; and is a Special Diplomatic Advisor to the Belgium government on trade with Africa. Here, in an interview with Rough & Polished, Ernie Blom speaks on various issues currently plaguing the global diamond industry.
Pavel Vinikhin: ALROSA will make a worthy contribution to the revival of the ‘Russian Cut’ Brand
16 october 2017
ALROSA is known as the largest diamond mining company throughout the world. However, not everyone is aware that it has its own diamond-cutting division. For a long time, the activity of DIAMONDS ALROSA remained in the shadows, only occasionally attracting the attention of journalists. However, recently the Dynasty, a unique diamond collection produced by DIAMONDS ALROSA, was sensationally presented first in Moscow, then at the Eastern Economic Forum in Vladivostok and later in Hong Kong. The collection, which already created a great deal of excitement, will be put up for sale in November at an online auction based on ALROSA's own IT platform. Pavel Vinikhin, Director of DIAMONDS ALROSA told Rough & Polished about the work on the collection, prospects of its international tour and plans for further development of the diamond cutting business he runs.
