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

Eduard Gorodetsky: Currently we see high demand for synthetic diamonds for use in technology segment rather than in jewelry

Director General of the Advanced Synthetic Research Center Eduard Gorodetsky told Rough&Polished about the current situation at the company, new exclusive technologies in the synthesis and production of lab-grown crystals, as well as the Research Center’s...

11 march 2024

Gokhran to hold auction of rough diamonds from State Fund in late September

30 august 2023

Gokhran intends to auction rough diamonds from the State Fund of Russia on September 28, aimed at the domestic market, RIA Novosti reports.

At the same time, it intends to sell smaller stones not exceeding +10.8 carats in size.

There will be 19 lots up for auction totaling 84,818 carats, with a starting aggregate price of $2.45 million. The largest lot by volume of 6,600 carats is valued at $136,139. The most expensive diamond lot weighing 5,316 carats is valued at $227,947.

Since the beginning of 2023, Gokhran has held three diamond sales. At the auction on February 27, rough diamonds with a total weight of 468,756 carats were put up for $17.29 million; all lots were sold for $23.89 million. At the auction on February 28, it managed to earn $22.15 million from the sale of 258,170 carats of diamonds. At the same time, on June 27, the state organization received $9.23 million from the sale of 229,624 carats of rough.

According to RIA Novosti, to replenish the federal budget, Gokhran plans to hold sales of precious metals and precious stones from state reserves totaling 2.5 billion rubles this year, 1.5 billion rubles in 2024, and 1 billion rubles in 2025.

Theodor Lisovoy, Editor in Chief of the European bureau, Rough&Polished