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Many in our industry are wary of the NGOs, which don’t always paint the most flattering portrait of our industry. But some of them, particularly those based in African countries, often do their work under considerable threat.
New York – With demand weak both last month and in the first quarter of the year, the price of polished diamonds of all sizes were down in March, according to Rapaport’s RapNet Diamond Index.
Tiffany & Co. has appointed Anisa Costa to the newly created position of chief sustainability officer.
London – The Responsible Jewellery Council has terminated the contract of CEO Ashish Deo, who has been with the organization for only eight months, and is transitioning to an executive director-led model.
Consider this group of headlines from the last week or so: The Botswana Gazette: Diamond Crisis Looms?, Financial Times: India’s Diamond Polishers Lose Their Sparkle , Business Insider: The Diamond Capital of the World Sent Out a Warning Signal .
In a way, there were no surprises this past week, and that in itself should be a surprise. De Beers offered a large rough diamond supply to its clients – at slightly higher prices – and the market just could not digest it.
The first quarter of 2015 was a tough one for the diamond industry but it certainly was not dull – as this writer mistakenly suggested in a conversation this week.
Pessimism prevailed at De Beers March sight with more than 30 percent of goods refused, according to several sightholders.
Antwerp Diamond Centre – Friday 27 March 2015. On March 27 of this year the AWDC, Antwerp World Diamond Centre, invited members of the diamond industry to reflect on the financial future of the sector.
Disturbing events are said to be currently unsettling the diamond trade locally and internationally. Things are happening in the diamond industry.
ABN Amro has been a major lender to the midstream diamond industry over the past century. More recently, the group has called on the diamond industry to improve its “bankability” as banks tighten their lending requirements.
The middle of the diamond distribution chain is struggling to align itself with new, lower levels of wholesale demand. The result is that manufacturers and polished diamond dealers continue to be squeezed despite growth in consumer demand.