Ali Pastorini: Selling just the idea of glamour is no longer enough

Ali Pastorini is the co-owner of DEL LIMA JEWERLY and President of Mujeres Brillantes, an association which brings together approximately 1000 women working in the gold and diamond trading sector, mainly from Latin America, as well as from Turkey, Spain...

21 may 2018

Diamonds are shifting from occasional to daily wear

Joy Alukkas started his first jewellery showroom in UAE in the year 1987, and today the Joyalukkas Group is a multi-billion global conglomerate with varied business interests. Beginning with a single jewellery room in Abu Dhabi, Joy Alukkas has grown...

14 may 2018

GJC has played a crucial role in the last 10 years in improving the compliance level in the industry

Coming from a renowned family of jewellers based in Akola, Maharashtra, Nitin Khandelwal heads Khandelwal Jewellers (Akola) Pvt Ltd. He has interests in the Plastic industry, Real estate, Health & Recreation and Cold storage industries as well...

07 may 2018

Johnson: ASM diamond sector a potential new source of supply for De Beers

De Beers recently said that it is planning to pilot a programme called GemFair that will create a “secure and transparent route” to market for ethically-sourced artisanal and small-scale mined (ASM) diamonds. GemFair would partner with the Diamond...

03 may 2018

Zimnisky: Hard to protect lab-diamond price as production methods, economics improve

Paul Zimnisky, an independent diamond industry analyst and consultant, said it will be very difficult for the lab-diamond manufactures to protect price as production processes and economics improve. He told Rough & Polished’s Mathew Nyaungwa in an exclusive...

23 april 2018

Russia creates tracing system for polished diamonds and jewellery

21 may 2018

Nowadays, we see that the responsible supplies and tracing the provenance of rough diamonds are thriving and widely discussed in the industry. Only recently, Human Rights Watch once again criticized jewellery retailers pointing out that not all of them can provide information about the provenance of goods they sell. At the same time, various companies try to establish their own tracing systems. Recently, IBM announced the creation of their TrustChain for the jewellery industry. Even earlier, De Beers started the development of a blockchain platform for similar purposes. Today, Russia keeps up with the trend and maybe even moving ahead of it in some aspects. On the sidelines of the annual meeting held by Responsible Jewellery Council (RJC) in Moscow last week, the representatives of the Russian Federation Ministry of Finance, regulating this market in Russia, and the world’s largest diamond miner, ALROSA, told the audience that they had been engaged in large-scale activities in this field for a long time.

There's a unique bond between Jewellery and the Indian millennials...

14 may 2018

Millennials in India are no different to millennials anywhere in the world. Whether it's their lifestyle or consciousness on the environment or even social awareness they identify with global youngsters. Therefore, when it comes to jewellery preferences, brands concerned about environmental issues, strong in philanthropy, charity and society oriented, etc., find loyalty among the Indian millennials. But, as they show distinct behavioural differences in matters related to 'investment', jewellery happens to play an important part in their purchases...

Jewelry Trade Challenges and Impact of Gold Tax on Agenda at Dubai Precious Metals Conference

07 may 2018

The 7th edition of the Dubai Multi Commodities Centre's (DMCC) annual Dubai Precious Metals Conference (DPMC) looked at the challenges facing the jewelry business globally in one of its panel sessions. More than 300 participants from across the globe listened as speakers and panelists from the precious metals sector discussed issues and opportunities critical to the future of the worldwide trade.

Concerns raised about Zim $4.2bn platinum deal

03 may 2018

The signing of a $4.2-billion deal last March between Zimbabwe and the shadowy Karo Resources to develop a platinum mine and refinery in the southern African country, received much media coverage. However, concerns were raised about the deal.

Soviet ‘garimpeiros’: artisanal diamond mining in the USSR

30 april 2018

Artisanal diamond mining is forbidden in today’s democratic Russia. But it was a thriving sector in the totalitarian Stalin’s USSR. What's interesting, free artisanal miners - actually, they were private entrepreneurs - mined at the same deposits where the Uralalmaz’s prisoners did. For example, in 1949, 533 artisanal miners worked at the Ural placers and they accounted for over 40% of all the rough diamond production. What was the reason of such a tolerant attitude of the Stalin’s administration towards the free artisanal miners even after the diamond industry came under the charge of the ‘punitive’ institution in 1946 - the Ministry of Internal Affairs? It would seem that the image of a person mining rough diamonds at his own peril and risk and having only goods-and-money relationship with the government didn't fit in the Soviet ideological persuasions and was nowhere near ‘the builder of communism’. How could this strange historic paradox be explained?

What will the impact be of De Beers rough auction sales announcement?

23 april 2018

A recent announcement to the diamond trade by Neil Ventura, Executive Vice-President, Auction Sales, at De Beers showed the direction that the mining giant heading in regarding auction sales. He said that the De Beers Auction Sales business has "acted as a catalyst for widespread industry change in selling practices" and now "the vast majority of producers of all sizes, including even producer country governments, have adopted auctions for at least a part of their overall sales mix. The firm has developed its auction program to enable customers to secure future supply at its auctions by launching a forward contract sales program to enable customers to do so. It then further developed the system from a floating price system to fixed prices. Last year, the miner started selling its own polished diamonds, as well as allowing third parties to sell their polished goods on the De Beers platform. The miner said that its aim was to provide customers with a ‘one-stop shop’ for its sourcing needs – saying this offers benefits in terms of efficiencies and reduced costs. Although diamond manufacturers – especially De Beers' sightholders – won't publicly comment, off the record they are not exactly delighted by the move.

The measurability of beauty

16 april 2018

This article opens a series of popular science publications about rough and polished diamonds, their properties and characteristics, peculiarities of their origin, mining, cutting and polishing and evaluation. And we start with the latter – a 4C system widely used for describing the jewellery characteristics and for the subsequent polished diamond pricing.

Responsible supply chains sine qua non for diamonds, other precious stones

09 april 2018

The Kimberley Process Certification Scheme (KP), which was established by the southern African diamond-producing countries in 2000, came into effect on 1 January 2003 in a bid to eliminate the use of rough diamonds to finance armed conflict. The scheme, currently under the leadership of the European Union (EU), also aimed at protecting the legitimate diamond industry, upon which many countries depended.  KP, which was also endorsed by the United Nations’ General Assembly, made a massive contribution during its formative stage to the implementation of then fragile peace agreements in Angola, the Democratic Republic of the Congo, Liberia and Sierra Leone by blocking resources to potential spoilers.  The scheme members are now said to be responsible for stemming 99.8 percent of the global production of conflict diamonds. However, some non-governmental organisations (NGOs) are not convinced that KP had made such an astounding progress.

Are SMEs in Indian diamond industry crushed between 'a rock and a hard place'?...

02 april 2018

Yes, undoubtedly... as the position right now is not conducive for small and medium manufacturing units to survive, given that bank financing and loans are hard to get and prices of rough don't allow making profits out of the manufacturing process.

New times, new challenges for shopping malls fighting to stay alive

26 march 2018

An ongoing death rattle is being heard in the US retail sector, as malls across the country are being forced to deal with what some are calling the “retail apocalypse”. Credit Suisse Bank has forecast that as many as a quarter of them will be closing their doors by around 2023. The malls have fallen victim to consumers' changing shopping habits and desires and, of course, online shopping.

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