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Expert reports

31.10.2014
PwC Warns Retailers: U.S. Consumers Have Less to Spend on Christmas
(Rapaport) - Consulting firm PwC expects the U.S. Christmas-shopping season to be characterized by two distinct groups of consumers: the selectionists who represent 33 percent of shoppers and earn more than the median household income of $50,000 per year, and survivalists, who represent the majority (at 67 percent) and earn less than the median. Overall, however, PwC projected that holiday spending will drop nearly 7 percent year on year to $684 per household.

30.10.2014
Luxury Goods Sales Set to Fall in Russia and China
(The Wall Street Journal) - Geopolitical troubles and anticorruption measures in China are taking their toll on the world’s luxury industry, as sales in the sector will likely fall both in China and Russia this year while spending in Europe by extra-European Union travelers has been flat in the first nine months of 2014.

29.10.2014
The Second Annual Russian Jewellery Market Conference
Last week, the second annual edition of the Russian Jewellery Market Conference was held in the Congress Centre of the Chamber of Commerce and Industry of Russia (CCI) in Ilyinka Street. The event was sponsored by the Russian Jewelers Guild and Chamber of Commerce and Industry of the Russian Federation.

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News

31.10.2014
GJEPC and BDB plan Global Brainstorming Session on issues that led to WDC Meet boycott
The Gem & Jewellery Export Promotion Council (GJEPC) and the Bharat Diamond Bourse (BDB) plan to host a brainstorming session for representatives of the global diamond industry to discuss the issues that sparked the boycott of the Annual General Meeting of the World Diamond Council (WDC) held in Antwerp, according to a news item posted on the GJEPC website.

31.10.2014
WDC meeting in Antwerp: looking to the future
From 28 to 30 October, members of the World Diamond Council assembled in Antwerp for the 2014 Annual General Meeting. The discussions focused on issues associated with the Kimberley Process, 14 years after its establishment, and the role of the WDC in relation to the risks facing the KP.

31.10.2014
WFDB соncludes EXCO meeting with plans for a new paradigm
The World Federation of Diamond Bourses EXCO has ended in Antwerp a 3 day program of discussions and meetings that included an extensive strategy session to analyse, discuss and decide on the future mission of the WFDB within the growing, global diamond trade.

31.10.2014
U.S. Army Corps of Engineers approves plans for the largest open pit gold mine in South Carolina history
Plans for the largest open pit gold mine in South Carolina history received approval from the U.S. Army Corps of Engineers after three years of study.

31.10.2014
DiamondCorp’s workers down tools at Lace mine in South Africa
The Southern African diamond development and exploration company, DiamondCorp said that members of the Association of Mineworkers and Construction Union (AMCU) employed at its Lace diamond project, in South Africa, commenced a strike action.

31.10.2014
India’s polished exports for Sept.’14 up by 11.2%
India’s Cut & Polished exports for month of Sept ’14 of US$ 2663.66 million ( 3627000 carats), registering a increase of 11.19 percent as against US$ 2395.50 million (3322000 carats) during Sept.’13, according to the provisional figures announced by the Gem & Jewellery Export Promotion Council (GJEPC) of India.

31.10.2014
Should we accumulate our personal gold reserve? - Expert opinion
Last week, the Rossiyskaya Gazeta published comments offered by Nikita Maslennikov, Head of Finance and Economics at the Institute of Contemporary Development, who tried to understand the current economic situation and answer the question whether or not we should accumulate our personal gold reserve.

31.10.2014
Marange Resources owes $3.7 mln in unpaid taxes from 2010 - report
Marange Resources, which is wholly owned by the state-owned Zimbabwe Mining Development Corporation (ZMDC), is reportedly owing the country’s revenue authority $3.7 million in unpaid taxes dating from 2010.

Exclusive

27.10.2014
ALROSA geologists exploring Africa for diamonds
victor_ustinov_preview.jpgViktor Ustinov is Doctor of Geological and Mineralogical Sciences and Deputy Director of the Geological Research and Exploration Unit at ALROSA in charge of the New Areas Evaluation Department (Saint Petersburg). In his interview to Rough&Polished he told about his recent business trip to Africa.


Analytics

A Sanction War over Ukraine Means Troubles for Gold Jewellery
While the jewellery sector has not been directly targeted by the dangerous game of sanctions and counter-sanctions played by the United States and the European Union on one side and Russia on the other, it has indeed become one of its collateral victims.

Between a rock and a rough surface: Africa’s woe as it seeks to cut, polish diamonds
De Beers said in its inaugural Insight Report, which was released last month that the global diamond cutting and polishing sector remains fragmented, with midstream companies under pressure from a mishmash of increasing costs in the upstream, the availability of credit and price-point requirements from their retail customers.

HRD Antwerp
9th China Gold & Precious Metals Summit 2014
Severalmaz

 

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