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

The Russian Ministry of Finance to sell over 144,000 carats of diamonds at November auction

19 october 2023

On November 14, 2023, the Ministry of Finance of the Russian Federation will hold a domestic auction for natural rough diamonds from the State Fund.

In total, 18 lots with a total weight of 144,125.4 carats will be put up for auction. The weight of the smallest lot is 2,235.5 carats, the initial cost is $98,950.

The largest auction lot consists of rough diamonds with a total weight of 41,881.8 carats with an estimated value of $84,315. The total initial cost of all lots is $2,451,451.

Organizations and individual entrepreneurs are allowed to participate in the auction. The amount of the deposit for participation is 500,000 rubles.

At the September auction, the Ministry of Finance sold over 15,200 carats of natural diamonds for a total of $10,9 million.

Alex Shishlo for Rough&Polished