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
‘Diamond prices have remarkable ability to recover considerably faster after a crisis than other product categories,’ observes Etan Müller, CEO DFI
06 june 2016
Etan M. Müller, CEO and Partner- DFI, has more than 25 years of experience in the financial industry. Before setting up DFI Switzerland AG, Etan Müller worked for 12 years in the private banking sector as a senior investment advisor for Ultra High Net Worth (UHNW) clients for the two of the largest Swiss banks in Zurich. He has also filled executive and trading positions at Credit Suisse First Boston, Merrill Lynch Capital Markets, Zurich Kantonalbank and Swiss Cantobank Securities in London. Currently, Etan also serves in a non-voting capacity on the Board of Directors of DFI Switzerland AG. Are you considering diamonds as investment vehicles? Etan is here to tell you all that you need to know and more in an interview with Rough&Polished.
World Diamond Congress debates reflected widespread challenges, says WFDB President Ernie Blom
30 may 2016
The 37th World Diamond Congress in Dubai carried to completion on May 19, 2016 zoomed in on the most challenging issues facing the global diamond industry with a special focus on transparency, responsibility and sustainability. The World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association (IDMA) widely represented at the Congress recognized the importance of higher integrity in the global diamond supply chain in order to boost consumer confidence in diamonds. In an interview to Rough&Polished, Ernie Blom, President of WFDB unanimously re-elected for a further two-year term, describes the discussions, which took place at the Congress and the results achieved.
Nurit Rothmann: Gradually Breaking Down Industry Barriers
23 may 2016
Diamantaire Nurit Rothmann has been working in the diamond industry for the past two decades. Starting out in polished goods, but in the past 15 years working in rough goods, she is optimistic about the future, saying the global diamond industry has a great story to sell. She also wants to see more women in the diamond trade, particularly in industry-leading positions. When one thinks of diamonds, one thinks of women wearing diamond jewelry of all sorts, but when one thinks of successful diamond manufacturers and traders, it is, usually, men that are seen running firms, and walking the corridors and trading halls of diamond bourses around the world. But In the Israel Diamond Exchange, the picture is somewhat different, with many women involved in all sectors of the trade.
The 37th World Diamond Congress in Dubai - "Finally, a chance for the entire diamond trade to speak with one voice"
16 may 2016
The World Diamond Congress is the most important forum of the global diamond industry, which, in the words of Ernie Blom, President of the World Federation of Diamond Bourses (WFDB), gives its participants an opportunity to express their views on the problems facing the industry. “We will be discussing how to create sustainable, long-term growth in the diamond supply pipeline, while bearing in mind the need for transparency, the highest levels of ethical behaviour and corporate social responsibility,” he said in the run-up to the congress. “We also want to advance across-the-board support for generic marketing of diamonds via the WFDB's World Diamond Mark initiative and to create stronger links with the Diamond Producers Association.” Alex Popov, Chairman of the World Diamond Mark Foundation (WDM) while sitting for an interview with Rough & Polished told about the issues to be raised at the Congress and about the work done by the WDM and its plans for the future.
Moscow, Kremlin, Ilgiz F. and his jewels
10 may 2016
The Kremlin Assumption Belfry housed an exhibition of Russian jeweler Ilgiz Fazulzyanov, "Jewels Inspired by Nature." Visitors still cherish the memory of other jewelry exhibitions held in the Kremlin earlier, like "Diamond in Russian Avant-Garde", Faberge, Bolin, Cartier and Lalique, so this is the first modern domestic jeweler, whose solo exhibit was welcomed by the Moscow Kremlin Museums. Ilgiz Fazulzyanov received academic art education at the Kazan Art School. Later he took part in and won numerous international jewelry contests and worked with the Christie's and Bonhams auction houses. The jewelry works of Ilgiz Fazulzyanov won the Grand Prix of the International Jewellery Design Excellence Award in 2011 and in 2013. His brand, Ilgiz F. enjoys great popularity among connoisseurs, and his clients include many celebrities.
All industry members should operate their businesses prudently
04 may 2016
Venus Jewel calls themselves ‘Leaders in Solitaires’ and rightly so, given that they are one of the leading Indian companies dealing in solitaires. Rajesh Shah, Partner at Venus Jewel, takes great pride in the fact that the company has 20 years of leadership in online sales, and is able to sell 50 percent of the company’s goods through their website. Passionate about the diamond industry, environment, company’s employees, ethical standards, and most importantly customers, Rajesh Shah’s other interests are ‘designing and architecture’. Here, Rajesh Shah speaks to Rough&Polished, about his company as well as the current scenario and issues that plague the diamond industry.
Diamonds performing ‘a little bit better’ than most commodities – Deloitte analyst
25 april 2016
Liquidity crunch and a sluggish Chinese economic growth, inter-alia, dampened the appetite for rough diamonds last year. Mining analyst and partner at Deloitte Tony Zoghby told Rough & Polished’s Mathew Nyaungwa that despite the depression, diamonds fared much better compared to other commodities. He said the diamond sector had its uniqueness far removed from the factors that were affecting other mining sectors. Despite this prognosis, Zoghby noted that it does not make sense for mining companies such as De Beers to flood the market with rough diamonds, hence, the reduction in production was ideal. He also noted that the southern African region should be innovative if it wants to continue dominating the global diamond industry, in terms of production, with the main objective being to drive costs down.
“If consumers lose confidence in diamonds, both the products, natural and synthetic, will be badly hit,” warns Sanjay Kothari, Spokesperson NDMC
18 april 2016
For a sector, which grew from just a cottage industry to one of the largest diamond manufacturing industry in the world, India’s diamond industry was, till not long ago, looked at globally with awe as an industry which operated purely on trust. Today, the recent Alibaba incident could be ‘a wakeup call’ for the Indian diamond industry, which now finds itself at the crossroads in its march forward. Is the Indian industry paying its price for the enormous growth in recent times or is it the entry of outside entrepreneurs into the industry, which was earlier a group personally known to each other? In an interview with Rough&Polished, Sanjay Kothari, former chairman of the GJEPC and currently the spokesperson for the Natural Diamond Monitoring Committee (NDMC), speaks about the recent incidents that have disturbed the sedate Indian diamond industry.
Valery Budny: "I really believe in Russian entrepreneurs"
11 april 2016
Being a media holding in the field of jewelry and watch industry and trade, RESTEC JUNWEX combines such activities as holding exhibitions and conferences, publishing magazines, operating Internet resources and providing consulting services. It runs Russia’s largest jewelry exhibitions, offers extensive programs to promote jewelry companies in the market and takes proactive part in the World Federation of Diamond Bourses (WFDB), being one of its members. In anticipation of the spring and summer show season, Valery Budny, CEO of RESTEC JUNWEX tells about the work being done by the holding and about the problems facing the jewelry industry today in an interview to Rough & Polished.
Ghanaian firm seeks to resuscitate Akwatia diamond mine
04 april 2016
Great Consolidated Diamonds (GCD), formerly known as Ghana Consolidated Diamonds, is the West African country’s only commercial diamond company. It owns the Akwatia diamond mine, which produced more than 100-million carats of diamonds since the inception of commercial operations in 1924. The mine was closed almost a decade ago when Sapper and Associates, who had won the rights to the mine, failed to inject necessary funds. This saw the new government, which came into power in 2009, opening bids for Ghana Consolidated Diamonds. The Ghanaian owned company won the bid in 2011 ahead of international firms that had shown interest in the mine. It is yet to resume production due to lack of funding and the company was open to investments to push the project forward. GCD, which conducted some exploration work until last year, was said to be in talks with South African and Irish companies, who had shown interest in the mine. Company general manager, mines Delali Komla Kabe told Rough & Polished’s Mathew Nyaungwa in an exclusive interview that once production resumes the mine was expected to record an annual output of between 400 000 carats and 500 000 carats of diamonds. This was expected to rise to 1.5 million carats per year after five years of production resumption.
