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

De Beers halts online rough diamond auctions till the end of the year

06 october 2023

De Beers has halted online rough diamond auctions till the end of 2023, according to its parent company, Anglo American.

The move comes after Alrosa suspended sales of rough diamonds for September and October at the request of India's Gems and Jewelry Export Promotion Council (GJEPC) due to poor demand, leading to disruptions in factory operations and a reduction in resource allocation.

De Beers realised $200 million from its eighth rough sales cycle compared to $508 million the previous year or $370 million the preceding cycle.

Group chief executive Al Cook said that they reduced rough diamond availability for the cycle as the industry’s midstream rebalanced some sectors of stock build-up.

“De Beers will continue to support its sightholders to help re-establish equilibrium between wholesale supply and demand by providing full flexibility for rough diamond allocations in sights 9 and 10 of 2023, suspending De Beers group online rough diamond auctions for the remainder of 2023,” he said.

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