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

Lulo alluvial resource lifts carats by 48% - Lucapa

19 march 2024

Lucapa Diamond says the alluvial exploration activities undertaken in 2023 increased the Lulo alluvial resource in-situ carats by 48% to 228,400 carats after accounting for mining depletion of 30,585 carats.

The Lulo alluvial resource was independently estimated and reconciled on a depletion and addition basis to 31 December 2023 by external consultants, Z Star Mineral Resource Consultants.

It said to date, about 200,000 carats of diamonds have been recovered on the Lulo concession and sold by Sociedade Mineira do Lulo (SML) for about $426 million, at an average price of $2,122 per carat.

Lucapa said diamond valuations have been affected by a softening in diamond prices in 2023.

“The modelled diamond value has been escalated using a global rough diamond price index provided by GTD Consultants, an independent diamond valuation consultancy, up to 31 December 2023,” it said. “The modelled diamond values have decreased by [about] 5% from $2,000 per carat to $1,897 per carat on average.”

Meanwhile, Lucapa said sales of Lulo diamonds totalled $77.3 million in 2023 at an average diamond price of $2,700 per carat.

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