Diamond industry forecast for 2021 and beyond
Global diamond production this year fell by more than 20% to about 113 million carats due to planned production declines by the major producers and significant pandemic-related suspensions and curtailments across the industry, Paul Zimnisky, an independent diamond analyst and consultant told The Northern Miner. Zimnisky said that mines including Ekati, Aikhal, Verkhne-Munskoye, Williamson, Liqhobong […]
Rough demand strong at Trans Atlantic Tender
Image: Rough diamonds. (Trans Atlantic Gem Sales) Trans Atlantic Gem Sales (TAGS) sold “almost 100%” of the goods on offer at a rough tender in Dubai earlier this month as buyers showed optimism ahead of the holidays, the company reported. The group, which sells diamonds on behalf of producers and artisanal miners, offered around […]
Colored Gemstones get new ratings system
Switzerland’s Gübelin Gem Lab has launched a scoring system for colored gemstones based on wine ratings, claiming that the industry lacked a common method of describing quality and uniqueness. The numerical scale takes into account three factors: quality, rarity and salience — referring to the stone’s ability to “stand out from the crowd,” Gübelin said […]
Israel polished exports slump
Image: The trading floor at the Israel Diamond Exchange in June 2020 after a coronavirus case forced it to close temporarily. (Israel Diamond Exchange) Israel’s polished-diamond exports fell 37% year on year to $1.9 billion in the first 10 months of 2020, according to figures the government released last week. The decline, which reflects […]
MMCZ pledges to work with small-scale miners
Addressing miners at a MMCZ small scale miners training held yesterday at the HICC, MMCZ boss, Mr. Tongai Muzenda said the mineral marketer’s mandate is to work with miners to attain a productive mining sector. “As MMCZ, we do not exist to disrupt mines activities but rather to work together with miners to produce massive […]
A chance to rebuild the diamond industry
Rapaport Research Report presents a SWOT analysis on the diamond market The economic challenges resulting from Covid-19 have forced companies and industries at large to reassess their value propositions. Along with the tremendous health concerns, the coronavirus has also brought unprecedented disruption to the global economy, pushing the business community to modify the way it […]
Surat’s diamond trade regains sparkle
Diamantaires cut short workers’ Diwali vacation as orders pile up India’s diamond trade is getting closer to its pre-Covid sparkle, thanks to the renewed demand from the United States and Europe, which together account for nearly half of our polished diamond exports of about ₹1.32-lakh crore. The diamond exporters from Surat and Mumbai are seeing signs […]
Mines Ministry determined to deal with hurdles in the Mining sector
The Mines Ministry has promised to deal with all hurdles in the mining sector that limits progress and growth for miners and the country’s economy. Speaking at the 2021 pre-budget expectations of the mining sector in Zimbabwe held at Crown Plaza, the Chairman of the Mines Committee Portfolio, Honorable Mkaratigwa said the Mines ministry is […]
Rare, precious diamonds revealed in Mat South
Extensive resource definition and quantification works being undertaken by Russian firm, Alrosa, at the Malipati Diamond Project in Matabeleland South, have revealed a rare and high value species of diamonds that have potential to change the face of Zimbabwe’s gem industry. Alrosa, the Russian diamond behemoth, is the world’s largest gem miner with an annual […]
“Blitz of Prices Rises” for Some Diamonds
October saw price rises among smaller fancies and round diamonds. According to the IDEX Price Report, published by IDEX Online, October saw “a blitz of price rises among smaller fancies (0.23-0.44 carats) and some positive movement among 0.45-0.69-carat” diamonds. The report states that, while there was a rise in demand for these “smaller, less costly […]