Nosiphiwo Mzamo: South Africa’s State Diamond Trader to buy diamonds from other African countries

South Africa’s State Diamond Trader (SDT) is set to buy diamonds from other African countries starting with Botswana. SDT’s chief executive Nosiphiwo Mzamo told Rough & Polished’s Mathew Nyaungwa at the country’s inaugural diamond show, which...

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Edahn Golan: Halo effect from lab-grown diamonds driving high demand for large, 2-carat natural stones in the U.S.

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Paul Zimnisky: We will see a modest recovery in natural diamond demand and prices in 2025

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13 january 2025

African Diamond Council makes traceability its top priority, wants KP to embrace Authentia.io

The African Diamond Council (ADC) has made traceability its foremost priority and has been contributing to a traceability solution called Authentia.io for the last three and a half years, which is now ready to globally satisfy the traceability...

16 december 2024

Gaetano Cavalieri: CIBJO leading the jewelry industry on critical issues

One of the gem and jewellery industry’s most well-known and respected personalities, Dr. Gaetano Cavalieri, has been the president of the World Jewellery Confederation (CIBJO), for the past 23 years. CIBJO is the oldest international organisation...

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Dubai diamond trade up 2% in 2023 as polished segment shows rapid growth - DMCC

13 march 2024

Dubai Multi Commodities Center (DMCC) has published its annual trade statistics for 2023 and revealed that the value of the diamond trading increased by 2% to $38.3 billion. The five-year compound annual growth rate amounted to 11%.

The organization said that, although in recent Dubai diamond sector was mostly centered around rough diamond trade, the polished segment increased substantially last year. Polished diamond trade was up 32% year-on-year to $16.9 billion, accounting for 44% of the total trade value and consolidating UAE’s status as the world’s leading diamond trade hub for rough and polished diamonds.

Meanwhile, rough diamond trade value decreased 13% year-on-year to $21.3 billion. According to DMCC, despite the global price of rough diamonds decreasing approximately 20% in 2023, Dubai managed to maintain its strong rough trading volumes.

Dubai has also supported lab-grown diamonds (LGD) trade last year which increased 10% year-on-year to $1.6 billion.

"Our appeal to diamond industry segments across the world is exemplified by our ability to maintain strong trade volumes in rough whilst rapidly advancing polished and lab-grown diamonds. The polished segment now represents almost half of our diamond trade, consolidating our status as the world’s number one hub for rough and polished," said Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer of DMCC.

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