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The long and winding road from wrestling with deep losses and large debts to the highlights of profits, major acquisitions and large returns on a divestment, was as precarious as the ice road leading to Canada’s diamond mines.
“… the game of Snakes and Ladders captures, as no other activity can hope to do, the eternal truth that for every ladder you hope to climb, a snake is waiting just around the corner, and for every snake a ladder will compensate,” Salmon Rushdie, Midnight’s Children.
Weakness crept into the diamond market in August 2011. In the year that followed, 2012 proved to be one filled with notable changes and challenges, some of which will continue to have an impact in 2013.
The moment when a leading company decides to float on the stock market is always a moment of uncertainty. All eyes are pointed to its early results, as analysts try to figure out to correctly measure its performance.
Mike Roman, th e late former chairman of Jewelers of America (JA), once told Martin Rapaport, “Don’t worry about diamonds. The industry will be okay, as long as there are three things: Christmas, sex, and guilt.” The good news is that each year he has proven correct, and his premise holds true for 2013, if […]
Bain & Company said that the surprisingly strong diamond demand growth posted in 2011 and uncertainty around fourth-quarter holiday sales in 2012 introduced significant variables into the demand outlook for the year. China and India accounted for most of the diamond demand growth last year.
ALROSA, the lesser known of the two diamond mining giants, is emerging from its own shadows and may exert greater influence on the industry in 2013. While it still has a ways to go, it has become more transparent about disclosing its resource base, building its client list and developing its marketing strategy.
Often, the manner in which the diamond industry starts a year proves more influential than the weighted importance it gives the end of year holiday season. Granted, they are interconnected, with the level of restocking naturally dependent on retail sales and prices responding to the respective supply–demand dynamic.
Assurances by diamond miners at last week’s Victoria Falls conference that they would seek to persuade the US and EU to lift sanctions against stones from Marange may not generate the floods of dollars that Zimbabwe expects, writes Charlotte Mathews in an article published on 22 November by the www.fm.co.za portal.
It’s December, and diamond markets are eyeing inventory levels across the pipeline, characteristically hopeful that the holiday season will sufficiently trigger stronger buying in 2013. Stronger being a relative term as trading has been dulled by caution throughout 2012.
The online retail experience keeps reinventing itself almost with the pace and energy of technology itself. Consider that Cyber Monday only became a referenced term in 2005 and already feels a part of the U.S. holiday tradition. Along with Black Friday, it has also become a barometer of consumer sentiment and an important avenue to […]
For news junkies in the diamond industry, this past week was a relatively exciting one. And for once it wasn’t De Beers making the headlines. This time, BHP Billiton completed its diamond exit by agreeing to sell the Ekati mine in Canada to Harry Winston for $500 million, while further west, ALROSA signed a two-year […]