Varvara Dmitrieva: The jewelry industry of Yakutia is distinguished by its creativity, unique cultural code and conservation of traditions

Varvara Dmitrieva, Associate Professor and Head of the Department of Precious Stones and Metals Processing Technologies of the North-Eastern Federal University, told Rough&Polished about the results of the Forum of jewelry Craftsmanship and the prospects...

16 april 2024

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

State Diamond Trader wants to source stones beyond SA's jurisdiction

13 february 2024

South Africa’s State Diamond Trader (SDT) is considering extending sourcing of rough diamonds beyond the country’s jurisdiction to counter the negative impact of the global economic downturn, according to a senior official.

Board chairperson Maletlatsa Monica Ledingwane said in a statement accompanying the company’s financial report for the 2022-2023 year ending March 31, 2023 that the economic challenges coupled with high inflation rates created an unfavourable operating environment for SDT.

SDT buys up to 10% of the run-of-mine production from all producers in South Africa.

Its major suppliers of rough diamonds are De Beers and Petra Diamonds.

SDT purchased 492,118 carats in the 2022–2023 financial year and sold 488,718 carats at a value of R1.3 billion ($68.3 million), a drop of 8% from R1.4 billion ($73. 6 million) a year earlier.

“The current build-up in polished and rough diamonds could lead to lower revenue and profit margins for SDT,” she said.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished