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

Lucara terminates Karowe diamond sales contract with HB

29 september 2023

Lucara Diamond has terminated its diamond sales agreement with HB Trading due to their failure to meet financial obligations.

The diamond company first partnered with HB in 2020 to sell +10.8-carat rough diamonds from its wholly owned Karowe mine in Botswana.

These high-value diamonds historically accounted for about 60% to 70% of Lucara's annual revenues.

The diamond company also extended its diamond sales agreement with HB in November 2022, and it was expected to last until December 31, 2032.

"The Lucara production profile is unique in the diamond industry, and the company will continue to look at innovative sales mechanisms to maximise the value of our rough diamonds," said Lucara chief executive William Lamb.

The diamond company said it will sell Karowe's rough diamond production through the channels already in place, such as the Clara diamond sales platform, traditional tenders, and other value-added mechanisms for stones.

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