Varvara Dmitrieva: The jewelry industry of Yakutia is distinguished by its creativity, unique cultural code and conservation of traditions

Varvara Dmitrieva, Associate Professor and Head of the Department of Precious Stones and Metals Processing Technologies of the North-Eastern Federal University, told Rough&Polished about the results of the Forum of jewelry Craftsmanship and the prospects...

16 april 2024

Valery Budny: There is no strategy and legislation in Russia enabling the full cycle processing of precious raw materials within the country

Valery Budny, Head of the Jewelry Russia program and CEO of the JUNWEX media holding, told Rough&Polished about the results of the meeting and pressing issues in the precious metals and precious stones (PMPS) and the jewelry sectors.

11 april 2024

Paul Zimnisky: Natural diamonds face the risk of eroding their appeal if constantly discounted

New York-based independent diamond and jewellery analyst and consultant Paul Zimnisky told Rough & Polished’s Mathew Nyaungwa in an exclusive interview that the industry should do away with discounts. He said the industry should treat natural diamonds...

01 april 2024

Edahn Golan: Lab-grown diamond prices to continue declining

In an exclusive interview with Rough&Polished's Mathew Nyaungwa, Edahn Golan, proprietor of the eponymous Edahn Golan Diamond Research and Data, predicted that the prices of lab-grown diamonds would continue to decline, especially at the retail and...

25 march 2024

ADPA’s Ellah Muchemwa: G7 restrictions to bring extra costs from diamond mining to retail

The African Diamond Producers Association (ADPA), which has openly registered its disdain for the G7’s rough diamond trade restrictions, is of the opinion that the move will bring extra costs on all stages, from mining to retail. ADPA executive...

18 march 2024

De Beers experiences a steep decline in rough diamond sales

30 august 2023

De Beers' sales of rough diamonds decreased by 42% to $370 million at its seventh sales cycle from $638 million a year earlier.

The group earned $411 million during its sixth sales cycle in 2023.

De Beers chief executive Al Cook said that the seventh sales cycle of the year demonstrated cautiousness among sightholders.

“With the prevailing economic environment leading to softer end client demand for diamond jewellery in key consumer markets and the traditionally lower levels of midstream trading during the summer period, sightholders continued to take a prudent approach to their purchasing during the seventh sales cycle of the year,” he said.

The tentative rough diamond sales figure for the seventh cycle indicates the anticipated sales value for the period between August 14 and August 29, according to De Beers.

The amount, it said, is subject to change based on the final value of completed sales.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished