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

Suspension of rough diamond allocations to have a stabilizing effect on market by 2024 - ALROSA

20 september 2023

ALROSA expects that its decision to suspend diamond allocations for two months by request of the Gem & Jewellery Export Promotion Council's (GJEPC) of India will stabilize diamond market balance and reinforce the stability of the supply chain by the beginning of 2024, the company said in a statement received by Rough&Polished.

"ALROSA has always adhered to the practice of maintaining stability in the market and reducing its volatility. The company's strong and high-quality asset base and stable financial position make it possible to implement such measures," - the press service of ALROSA said in a statement to Rough&Polished. "We expect that this will have a stabilizing effect to maintain balance in the market and reinforce the stability of the supply chain of rough and polished diamonds by the beginning of next year."

Earlier today GJEPC cited a letter it received from ALROSA, in which the company has called upon all industry partners, including diamond mining companies, cutting facilities, and jewellery retailers, to adopt a similar responsible stance towards rough diamond purchases and sales. This collective effort aims to enhance confidence within the industry and strengthen relationships among all stakeholders.

In the letter, ALROSA said it was convinced that this strategic step will be instrumental in revitalising the diamond market by improving the stability of every link in the diamond supply chain. The recent supply-demand mismatch has raised concerns within the industry, and ALROSA is confident that only through the combined efforts of global diamond industry organisations can the necessary impact be created to benefit the market and all its participants, both on the demand and supply sides.

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