De Beers october sight estimated at $460M
De Beers October sight closed with an estimated value of $460 million. The company reportedly lowered prices for several different categories of goods between 2 percent and 4 percent.
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GJEPC raises industry concerns with Gujarat minister
A delegation led by Gems and Jewellery Export Promotion Council (GJEPC) Chairman Shri Vipul Shah met Shri Saurabhbhai Patel, Minister of Finance in the government of the state of Gujarat to present issues of importance to the diamond trade.
Sight report, October 2014
Total goods sold this month are believed to be in the region $465m, which included a range of Ex Plan material.
Where De Beers really makes its money
In May, executives from Anglo were murmuring that the company overpaid when it acquired De Beers, that it wasn’t delivering the return on capital it hoped.
No, De Beers isn’t opening a trade lab (for now)
For the last few years, De Beers has operated the International Institute for Diamond Grading and Research (IIDGR), a lab that issues reports for Forevermark-branded diamonds.
Maxim Shkadov: “We need to create our own sales channel providing maximum penetration to the market”
Taking into account the ongoing discussion about the future of the Russian diamond industry, Rough&Polished asked Maxim Shkadov, CEO of Kristall (Smolensk), the largest diamond manufacturer in Russia and Europe to answer our questions.
Getting to know kimberlite pipes
Named for Kimberley, South Africa where they were first found, kimberlite pipes are large, conical rock formations known to host diamonds.
Shifting demand
Diamond prices continued to fall in September maintaining a long-term downtrend that started in mid-2011. Apart from the positive first quarter of 2014, when polished prices rose, average prices have been on a consistent, gradual decline.
What you most need to know to profit from Millennial shoppers
New York, NY-So you think you know the Millennials? You know they’re wired, connected, and not (quite) as narcissistic as they’re made out to be.
Puff … There goes $1.9 billion in diamond financing
Nothing should have surprised the diamond sector about KBC’s announcement that it is closing down the operations of the Antwerp Diamond Bank (ADB). It was not just the many rumors in the Antwerp and global markets in the week before the announcement or the news report about it in a local daily that should have […]
De Beers woos the banks. Will it help?
Talk about timely. After the industry bank week from hell, De Beers held a bankers executive briefing at the Roosevelt Hotel in New York City yesterday.
Why the industry can no longer bank on the banks
Over the last week, the industry was hit with a double whammy, right in the balance sheet: First, Antwerp Diamond Bank announced it was shutting its doors, after owner KBC spent four frustrating, fruitless years trying to find a suitable buyer.