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

Russia's Finance Ministry has no plans to provide state aid to ALROSA

11 january 2024

The Ministry of Finance of the Russian Federation is not yet considering the option to provide state aid to the diamond mining company ALROSA now sanctioned by EU in a form of purchasing rough and polished diamonds to the Gokhran state fund.

“There are no signs yet that [state aid] will be required. The company has a colossal resilience, it has a negative net debt, and with a large margin at that,” Interfax quotes Deputy Finance Minister Alexei Moiseev as saying.

At the same time, according to the deputy minister, the sanctions are “of course, an unpleasant story, we will see how it develops.”

Moiseev added that the company “was preparing [for sanctions], because there was no secret about it, our opponents had been talking about it for a long time.”

Gokhran operates within the budget limit for the purchase of precious metals and precious stones, which for 2024 is 51.5 billion rubles.

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