Vladimir Pilyushin: The jewelry market is not stand-alone and moves by the same laws as other markets

Vladimir Pilyushin is editor-in-chief of Russian Jeweler, a leading magazine about the jewelry industry in Russia. He told Rough&Polished about his view on the evolution of the jewelry industry in Russia and touched upon some of its problems.

16 september 2024

Sarine’s David Block: Diamond Industry at Standstill Until Chinese Demand Returns

David Block is CEO of Israel’s Sarine Technologies and has served in the position since 2012. In this exclusive interview for Rough and Polished, Block gives his opinion on the leading issues affecting today’s diamond trade.

11 september 2024

Dr M'zée Fula Ngenge: Demand for considerable-sized diamonds stronger than ever

The African Diamond Council (ADC) chairperson Dr M'zée Fula Ngenge told Rough & Polished’s Mathew Nyaungwa in an exclusive interview that although overall global diamond prices have been somewhat soft, the demand for considerable-sized diamonds...

02 september 2024

Amplats sees prospects as a standalone company

Anglo has revealed its plans to demerge Anglo American Platinum (Amplats), which has operations in South Africa and Zimbabwe, to optimise shareholder value. Rough&Polished contacted Amplats to comment on this and other issues but was referred...

19 august 2024

WFDB President Yoram Dvash Remains Confident Despite Global Diamond Challenges

Yoram Dvash is President of the World Federation of Diamond Bourses (WFDB) having been elected in 2020. He found time in his busy schedule to speak to Rough&Polished about the state of the diamond industry around the world and some of the major...

12 august 2024

Rio Tinto sees strong fundamentals for diamonds

14 september 2012

Rio Tinto PLC forecast Thursday a rise in prices for diamonds over the next decade as demand from China and India continues to surge but supply remains subdued by a lack of major new discoveries, Market Watch reported.
The Anglo-Australian mining company is the third-largest producer of rough diamonds globally after Alrosa Co. and Anglo American PLC- controlled De Beers, but is seeking to exit the industry. In a slide presentation released to the Australian stock exchange, Rio Tinto said it faced no time pressure for a transaction and it continued to review all options, including a sale of its diamonds portfolio.
The company said the U.S. is expected to remain a key market for diamond jewellery, but it would be surpassed in market size by China by 2025. Other markets are expected to move in line with growth in gross domestic product, it said.
Supplies of rough stones, meanwhile, are likely to be flat to declining over the next decade as existing mines become older and deeper.
Bruce Cox, managing director of Rio Tinto Diamonds, in the presentation delivered in Montreal said there had been no new "tier 1" diamond discoveries in the last 17 years. As a result, Mr. Cox said demand-supply imbalances are expected to widen.
Rio Tinto produced 11.7 million carats, generating revenue of US$726 million, in 2011. But its diamonds business remains relatively small, with sales revenue last year topping US$60.5 billion.
The company in late March said it had begun a strategic review of its diamonds business, which includes mines in Australia, Canada, Zimbabwe and a project in India. Rival BHP Billiton Ltd. BHP last November said it was reviewing its own diamonds operation and was considering the sale of its mine in Canada.
Rio Tinto in its presentation said that trends in China were driving wealth in the country and a push toward consumer-driven economic growth that would underpin long-term demand for diamonds and other products, including titanium dioxide, borates and salt.