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ALROSA reports financial results for Q3 and 9M 2017

The company’s revenue in 9M 2017 amounted to RUB 214.5 bn, EBITDA to RUB 100.0 bn, net profit to RUB 61.9 bn, and free cash flow to RUB 61.8 bn.

Yesterday

President of ALROSA ordered disciplinary sanctions following the accident at Mir

Sergey Ivanov, President of ALROSA signed an order on disciplinary sanctions against the company's executives who violated the requirements of industrial safety, which contributed to the accident at the Mir mine on August 4, 2017.

Yesterday

India's polished diamond exports down 23% in October

Exports of cut and polished diamonds from India during October reduced from $ 2.52 bn last year to $ 1.93 bn this year, a decline year-on-year of 23.33%, according to provisional data released by The Gem & Jewellery Export Promotion Council (GJEPC)...

Yesterday

Lucapa’s Lulo on track to break production target

Lucapa Diamond, which has a 40 percent stake in the Lulo diamond project in Angola, said it is on track to break its record 2017 annual production target.

Yesterday

H.H. King Philippe graces roundtable on sustainability in Mumbai

H.H. King Philippe of Belgium who was in India on an official visit, graced a Round Table on “Best Practices from the Diamond Business to Foster Socio-Economic Development” organized in Mumbai jointly by The Gem & Jewellery Export Promotion Council (GJEPC)...

Yesterday

It’s crucial everybody feels confident that their suppliers use the System of Warranties - Stephane Fischler

13 november 2017

The System of Warranties (SoW) in the diamond industry dates back to 2002, when the World Diamond Council (WDC) in team with the World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association (IDMA) launched this package of measures to strengthen the Kimberley Process Certification Scheme (KPCS) as a voluntary pattern of industry self-regulation aimed at weeding out conflict diamonds from the supply chain. The annual general meeting of the WDC recently held in Dubai was focused on broadening the scope of the KPCS and formalizing principles related to the “duty of care” for responsible business practices in the framework of the System of Warranties. In this interview given to Rough&Polished, Stephane Fischler, Acting President of the WDC shares his views on the issues raised during the two-day event.

IIDGR’s proprietary technology gives polished diamonds unique identity

07 november 2017

The International Institute of Diamond Grading & Research (IIDGR), a unit of the global diamond giant, De Beers, grades natural stones and is also using its proprietary inscription technology to inscribe a unique identification on tables of each stone used in the “diamond bullion.” Company president Jonathan Kendall told Rough & Polished’s Mathew Nyaungwa in an interview that the minuscule inscription made it difficult to forge the identity of a polished diamond. This, he said, provided “assurance” regarding the natural origin of each diamond and physical attributes.

In future, only those who offer innovative designs will survive

30 october 2017

A science graduate from Madras University, Srinivasan's one-man venture with just 10 employees launched in 1984 has now grown into the present Emerald Group, in about 3 plus decades. The Group from Southern India is one of the largest jewellery manufacturing conglomerate employing more than 4 500 personnel, and boasting of about 300 000 designs in gold, diamond and platinum jewellery. The award-winning Group has gradually transformed gold jewellery manufacturing from the conventional methods to technology and talent-driven one. Emerald Group owns four ultra-modern production facilities in Coimbatore each specializing in different kinds of product range, with an annual jewellery production of about 20 tons. Speaking to Rough & Polished, Srinivasan expresses his opinion candidly about the Indian jewellery sector and its future prospects, with his insights on the need for focusing on the 'design aspect' to survive in the future, where changing tastes of the millennial consumers will rule the demand scenario.

Conditions are still very difficult - Ernie Blom

23 october 2017

Ernie Blom, the President of the World Federation of Diamond Bourses (WFDB) for the third term, has served on a range of industry bodies as an executive as well as chairman for many years, including Chairman, Diamond Dealers Club of South Africa; Chairman, Rough Diamond Dealers Association; Chairman, Master Diamond Cutters Association; Chairman, Jewellery Council of South Africa, South African Diamond Board; and is a Special Diplomatic Advisor to the Belgium government on trade with Africa. Here, in an interview with Rough & Polished, Ernie Blom speaks on various issues currently plaguing the global diamond industry.

Pavel Vinikhin: ALROSA will make a worthy contribution to the revival of the ‘Russian Cut’ Brand

16 october 2017

ALROSA is known as the largest diamond mining company throughout the world. However, not everyone is aware that it has its own diamond-cutting division. For a long time, the activity of DIAMONDS ALROSA remained in the shadows, only occasionally attracting the attention of journalists. However, recently the Dynasty, a unique diamond collection produced by DIAMONDS ALROSA, was sensationally presented first in Moscow, then at the Eastern Economic Forum in Vladivostok and later in Hong Kong. The collection, which already created a great deal of excitement, will be put up for sale in November at an online auction based on ALROSA's own IT platform. Pavel Vinikhin, Director of DIAMONDS ALROSA told Rough & Polished about the work on the collection, prospects of its international tour and plans for further development of the diamond cutting business he runs.

William Lamb: Lucara now knows best routes to market large stones

09 october 2017

Lucara Diamond recently announced that Graff Diamonds had bought its 1,109 carat diamond Lesedi La Rona for $53 million. The stone, which is the world’s second largest diamond found since the discovery of the 3,106-carat Cullinan diamond in 1905, failed to find a buyer at a public auction in London on 29 June, 2016 and the company vowed not to auction the diamond again. Reports suggested that the stone had a reserve price of $70 million, but bidding stalled at $61 million. Lucara had, however, partnered with Nemesis International DMCC a month prior to the London auction and sold its 813 carat diamond – named “The Constellation” – for $63,1 million. Company chief executive William Lamb told Rough & Polished’s Mathew Nyaungwa that one shouldn’t fall into the trap of comparing the revenue accrued from the sale of both stones. He said what was significant was the fact that the stones were collectively sold for almost the same amount as the cost of building Karowe Mine, in Botswana. The diamonds originated from the south lobe of Karowe Mine. Lamb admitted that they had had some learning to do on the best way to market large diamonds. Below are excerpts from the interview.

GSI was the first in the world to begin testing of smaller size diamonds in bulk and has never looked back since - Mark Gershburg

02 october 2017

With more than 30 years of experience in the gem lab sector under his belt, Mark Gershburg is an industry veteran widely popular in the global gem and jewelry industry. He began his career in 1980 as a grader but his professionalism, creativity, and commitment were rewarded with increasing levels of responsibility until he became the director and CEO. In early 2005, Mark launched Gemological Science International (GSI) with a vision of creating unprecedented innovation in new technologies. His goal was to improve trade efficiencies, enhance the consumer experience and meet the rapidly changing needs of the jewelry industry in the new millennium. Currently, Gershburg is actively involved in multiple jewelry industry organizations including the Jewelers Vigilance Committee and the Responsible Jewelry Council, besides steering GSI to become a laboratory equipped with sophisticated technologies. Here, in an interview with ROUGH&POLISHED, Mark Gershburg traces the company he founded, from its inception till date; and also touches upon some points that the industry can focus on like transparency, best practices, etc.

Gaetano Cavalieri: Over the long term, demand for diamonds is likely to grow at a steady pace

25 september 2017

The World Jewellery Confederation (CIBJO) represents the entire jewelry industry embracing a whole variety of companies, from those mining precious metals and gems to those, which are manufacturing and selling final products. The confederation members are national jewelry associations from more than 40 countries, including Russia. In 2006, the CIBJO was the only organization granted the official status of a consultant to the UN Economic and Social Council on the development of the global jewelry industry. Gaetano Cavalieri, President of CIBJO, has kindly agreed to give this interview to Rough&Polished and to talk about his vision of the situation in the diamond industry.

“I am bullish on the future of the diamond business. Three reasons for this optimism... new discoveries, extending mine life and the increasing demand for diamonds”, says Martin Leake

18 september 2017

Martin Leake is a PhD exploration geologist and Six Sigma black belt who has been involved in the rough diamond market since 2004. He worked for BHP Billiton for 22 years and recently left Grib Diamonds where he helped set up a world-class marketing unit from scratch. He is currently working as an independent consultant. In an Interview with Rough&Polished, Martin Leake, who has seen it all - right from explorations to marketing - goes back in time to recall his experiences in the various positions that he had held during his long, fruitful career.

Diamond exploration junior obtained conclusive proof of diamond-bearing kimberlites in Russia’s North

11 september 2017

OOO Proex Service, which is searching for diamonds in the Arkhangelsk Region of Russia, discovered seven kimberlite pipes in the Kozolsky license area having spent 15 months for the find. One of the pipes is very similar to the highly diamondiferous Grib diamond pipe by its petrochemical characteristics and a set of indicator minerals pointing to kimberlites. Vladimir Shchukin, the head of Proex Service, is confident that diamondiferous kimberlites will be discovered in other licensed areas explored by this junior company, whose operations he described in an interview given to Rough & Polished.

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