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

IDMA stresses need to protect members of the diamonds industry in the wake of G7 sanctions on Russian diamonds

28 december 2023

The International Diamond Manufacturers Association (IDMA) issued a statement following the Group of Seven (G7) decision to impose sanctions on Russian diamonds, reiterating the need to protect the lives and livelihoods of all those employed in the mining and manufacturing of diamonds.

IDMA President Ronnie VanderLinden said: “We are pleased that the G7 will seek further engagement with diamond industry organizations such as the World Diamond Council (WDC) and IDMA, to ensure that diamond producers worldwide - particularly those on the African continent - can continue to mine and market diamonds without fear of job losses and broader economic harm.”

According to VanderLinden, the global diamond industry employs several million people throughout the diamond supply pipeline, and it is of the utmost importance that none of those jobs are jeopardized due to new developments.

IDMA expressed its solidarity with the WDC's view of the matter, believing that G7's import restrictions must focus on availability of certification and associated technology-based solutions for smaller industry participants, especially in Africa; and ensure the new measures 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