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.

Yesterday

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

Gem Diamonds revenue, prices drop due to lower demand

06 february 2024

Gem Diamonds sales dropped 26% in 2023 to $139.4 million as weak demand for rough diamonds forced its average price to weaken.

The diamond junior sold 104 520 carats in 2023 from its Letšeng mine in Lesotho, achieving an average price of $1 334 per carat, a drop of 24% compared to 107,498 carats sold in 2022 for $1 755 per carat.

The highest price achieved in the period was $ 33,745 per carat for a 117.09-carat white diamond that was sold for $4 million, it said.

It produced 32 142 carats in the fourth quarter of 2023, resulting in 109 656 carats recovered for the year from 106 704 carats a year earlier.

The diamond junior said that the ore treated in 2023 dropped to 5 million tonnes from the previous year’s 5.5 million tonnes mainly due to the expiry of the alluvial ventures' processing contract on June 30, 2022, which contributed 400 000 tonnes in that year.

Mathew Nyaungwa, Editor in Chief of the African Bureau, from Cape Town, South Africa, Rough&Polished