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

WDC reiterates commitment to G7 ban on Russian diamonds

14 december 2023

The World Diamond Council (WDC) yesterday has issued its statement in response to G7 leaders’ previous proclamation to ban imports of non-industrial diamonds of Russian origin.

According to WDC, it recognizes that the G7 leaders’ statement was a high-level declaration and welcomes the stated intention by the G7 to continue consultations for the establishment of an effective mechanism to deliver on these objectives. The WDC will seek further engagements with the G7 with the goal of supporting their phased introduction of import restrictions.

The organization will prioritize key points, such as providing African producing countries the freedom and independence to verify and certify the origin of rough diamonds mined in their territories.

It will also ensure that any technology-based solutions that may be used to verify the origin and provenance of diamonds are accessible to both larger and smaller industry participants, including members of the artisanal and small-scale mining sector. Lastly, WDC wants for these new measures to enhance rather than restrict access to the G7 consumer markets for responsibly sourced natural diamonds.

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