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

Diamond prices across all sizes are falling – Petra

18 october 2023

Petra Diamonds sold 444,029 carats for $40.5 million at its second tender of the fiscal year (FY) 2024, compared to 696,194 carats sold for $79.3 million at the first tender of FY 2024 in August.

Company chief executive Richard Duffy said like-for-like prices for goods sold fell 16.9% from the first tender of FY 2024 due to double-digit price drops across all size categories.

He said big producers' supply curbs and the two-month Indian embargo will stabilise the market and prices as inventory levels drop.

“While we anticipate that prices will remain volatile throughout calendar year (CY) 2023 and possibly into CY 2024, we continue to expect prices to benefit in the medium to longer term as a result of the structural supply deficit," said Duffy.

He said that 37,856 carats of Tanzania’s Williamson goods were sold for $7.7 million in the tender.

This was Williamson's first sale after restarting operations, marking the start of the steady ramping up of carats available for tender from the mine.

South Africa's Cullinan Mine and Finsch sold 406,200 carats of diamonds for $32.9 million.

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