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Expert reports

Is China Luxury Demand Really ‘Weak’?
(Jing Daily) - The earnings reports from luxury powerhouses Prada and the Richemont Group illustrated how murky the global luxury market has become. Throughout 2015, observers have sought to understand whether China’s demand for high-end items has waned or intensified. Much of this concern has been tempered in recent months, with Hermès recording a 20 percent increase in sales in Japan in the first half of the year, much of that growth powered not by a Japanese consumer that has awoken from the protracted stagnation of that economy but by a resurgent Chinese tourist-shopper.

Market misery fetters Botswana ambitions
( – Botswana is regularly held up as an African success story because of its political and economic stability, a multi-party democracy and good human rights records. It has also had the benefit of spectacular diamond deposits, the revenue from which has been poured into social development.But its overweight reliance on diamonds means that Botswana is especially vulnerable to resources shocks.

Industry in Peril
( - Last week I presented here a theory that examined the cost of rough by reverse engineering the achieved price of polished. I concluded that cost of rough in the current market may be excessively high and that therefore room exists to reduce prices. This week, let us examine this same issue from another angle and see if the theory holds.

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Supervisory Board of ALROSA approved the possibility to settle payments in rubles, but prices will be pegged to USD and market
(Interfax) - The Supervisory Board of ALROSA has approved the possibility to settle payments in rubles under new export contracts, as it follows from the company’s statement. The payment format for the current clients of the company will not change, while ruble payments for diamonds will become possible not earlier than 2018. In any case, the value of diamonds will be calculated taking into account the exchange rate set by Russia’s Central Bank, as well as market prices denominated in U.S. dollars.

ALROSA to implement pillar mining at the Aikhal underground mine
ALROSA started the implementation of pillar mining with goaf stowing at the Aikhal underground mine using more efficient drill and fire system instead of traditional bench mining where tunneling machines are used.

Third International Economic Jewelry Forum concluded in Moscow
The Third International Economic Jewelry Forum held under the slogan "New Realities, New Challenges, New Strategy in a Changing Global Marketplace" concluded its work at the Chamber of Commerce of the Russian Federation on October 2, 2015. The event was organized with the support of Russia’s Ministry of Finance, Gokhran, Assay Chamber, Russian Jewellery Trade Club and RESTEC JUNWEX media holding. This year, the event was backed by the largest diamond mining company in the country, ALROSA acting as a general partner.

China Polished Diamond Sales to Jump 3-5%: De Beers
China’s polished diamond sales will grow 3 to 5 percent this year to about $290 million, according to Rapaport.

BlueRock Diamonds gets £400k to fund SA operations, expansion plans
BlueRock Diamonds has entered into an agreement with Mark Poole, a major shareholder, to issue £400,000 of convertible loan notes (CLNs) of which the full amount will be immediately drawn down to finance the company's continuing operations and expansion plans.

Third edition of Singapore Fair slated for Oct 22
Widely recognised as the largest and most significant fine jewellery event in the region, the third edition of the Singapore Jewellery & Gem Fair will begin on October 22 at the Sands Expo and Convention Centre.

SDA: Ban public programmes in Surat diamond market
A delegation of diamond merchants led by the president of Surat Diamond Association (SDA), Dinesh Navadia, have submitted a memorandum to district collector Rajender Kumar on September 28, with their demand for smooth operation of the diamond market and the well-being of over 1,000 diamond traders.

High withdrawals at SGE indicate China’s gold demand recovery
Investors have withdrawn a record amount of gold from the Shanghai Gold Exchange (SGE) this year, adding to signs that demand in China is recovering after a stock market rout and a shock devaluation of the yuan, as reported in Bloomberg Business.


The Replica of the Great Imperial Crown of the Russian Empire is a masterpiece of Russian gem cutters and evidence that they are among the best artisans in the world
maxim_shkadov_x.jpgIn early September, Interfax hosted a press conference with the participation of Maxim Shkadov, CEO of Russia's largest diamond manufacturer Kristall on the further fate of the Replica of the Great Imperial Crown made by Smolensk gem cutters. Maxim Shkadov told the audience how his company had come over the idea to recreate the Crown of the Russian Empire and discussed its further fate, as well as answered questions from Rough & Polished regarding the state of the diamond market and its prospects.


Israel Moving Ahead with New Polishing Factory for Large Diamonds
Leaders of the Israel Diamond Exchange (IDE) have presented the initial plans for the establishment of a new diamond factory for the cutting and polishing of large diamonds – from 10 carats and bigger – in the heart of the IDE complex in Ramat Gan. Management and members took part in a meeting in early September to provide information about the factory, which will be the next step in the IDE's stated aim of bringing manufacturing back to Israel.

De Beers says global greenfield diamond project pipeline remains “sparse”
De Beers said the global greenfield diamond project pipeline remains sparse with just two scale projects currently in development. These were the Gahcho Kué project owned by De Beers and Mountain Province Diamonds as well as Stornoway Diamond’s Renard project. Both projects were expected to begin production in 2016, De Beers said in its latest "Diamond Insight Report". Three new greenfield mines commenced production last year. Alrosa commissioned a further new mine, Botuobinsky, early this year. Two of these mines (Grib, operated by Lukoil, and Karpinskogo-1, operated by Alrosa) are located in Western Russia.

HRD Antwerp
Luxury China
10th China Gold & Precious Metals Summit 2015


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