News
Saudi oil companies to engage in lithium production
The Saudi oilfield services company National Energy Services Reunited has announced that its specialized division, NESR Environmental and Decarbonisation Applications (NEDA), has entered into an agreement with the national oil and gas monopoly Aramco...
Today
India tightens standards for gold
India’s new "Good Delivery Gold" standard system establishes requirements for responsible sourcing and traceability. The Gem and Jewellery Export Promotion Council (GJEPC) has called for the swift adoption and international recognition of these standards...
Today
Orion Minerals secures $40m Glencore financing for Prieska mine development
Orion Minerals has secured $40 million in Tranche A financing from Glencore for its flagship Prieska Copper Zinc Mine in South Africa's Northern Cape, after the funding became unconditional following the execution of final concentrate offtake and intercreditor...
Today
De Beers' Q3 output falls 11%, assumes full ownership of Gahcho Kue
Anglo American has reported an 11% decrease in De Beers’ rough diamond production for the third quarter of 2026, down to 6.8 million carats compared to 7.7 million carats in the same period last year.
Today
Critical Metals gets formal approval for Tanbreez rare earth mine from Greenland authorities
US-based Critical Metals Corp. has announced that its flagship Tanbreez rare earth project has received formal mining plan and closure plan approvals from the government of Greenland, paving the way for a 24-year mine life.
Today
Is Diamond Demand Determined in Beijing and Washington?
31 august 2015
(Rapaport) - Don’t be surprised if diamantaires are suddenly talking about Zhou Xiaochuan and Janet Yellen. The actions of the two – who respectively lead the People’s Bank of China and the U.S. Federal Reserve – may put additional pressure on diamond demand and ultimately polished prices. Simply put, the sudden depreciation of China’s yuan and a looming U.S. interest rate hike couldn’t come at a worse time for the diamond market.
Cheers for Jericho
28 august 2015
(PolishedPrices) - I have been receiving several copies, all lovingly endorsed, of an article written by Chaim Even Zohar entitled ‘Love and Hate on the Rough Supply Side.’ Zohar’s article is one long diatribe against the producers and De Beers in particular. However, whilst everyone is ranting and raving about the producers, what are those within the midstream saying about themselves? As imperfect as the sightholder system is, it has been the sightholders who have often been its strongest supporters. To rail against the banks for lack of liquidity rather slithers over the opaque practices beloved of the midstream, which practices may finally caught or is catching up with them.
"Perfect Storm" in the Diamond Retail Industry
27 august 2015
(The Diamond Loupe) - Mel Moss, industry activist and President of Regal Imports Ltd., discusses the "perfect storm" of miners cluttering the pipeline with unprofitable downstream endeavors, consumers losing interest and negligible profits for all: "Diamond miners are trying to make a profit, but under current conditions, their profit does not allow any profit for their customers. Diamond cutters are faced with a consumer that is not interested in paying more for diamonds, if they are interested in buying diamonds at all. [Retailers] often compete with their own suppliers for diamond sales and Internet discounting is pushing retailers to accept lower margins. It is a vicious circle with retailers not wishing to make tiny margins on increasingly complicated diamond sales. So retailers either stop selling diamonds in favor of more profitable products or demand lower prices from their suppliers, and around and around we go with no one in the pipeline being able to make money by selling diamonds." [Watch the video]
Op-Ed: Insanity of the Diamond Industry
26 august 2015
(Rapaport) - It is the mistaken belief among those in our industry that price is all that matters that will destroy our industry. Increasing one’s revenues without making a profit is a pointless endeavor that leads nowhere. Selling diamonds to the consumer public at wholesale pricing accomplishes nothing except lowering the value of diamonds. The end result of this price-cutting actually diminishes the revenues of the industry as a whole.
Is the Midstream Working for a Wage? A call for a More Profitable Midstream for a Stronger Industry
25 august 2015
(ehudlaniado.com) - The more we examine the facts, the clearer it becomes that the main problem faced by the diamond industry is that the midstream – the manufacturing sector – does not get its fair share of the pie. The diamond sector is considered a lucrative one by the public, enticed by the allure and profitability that diamonds represent. However, the diamond industry midstream currently suffers from very low profitability, constantly verging on loss, while the upstream and downstream of the diamond pipeline maintain wide margins.
