Diamonds in the Rough
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Saturday,July 18 2020 [ Issue 3 July/ 2020 ]
Diamonds in the Rough
Both De Beers and ALROSA, both of whom control diamond production in the world have had dismal 2nd quarter results. Coronavirus has literally robbed the diamond industry of its shine, both of their combined sales has dipped by 94%.

Earlier on, when countries were going into lockdown, both the mining giants in a move to self-preserve, and to help the suppliers, drastically cut down their production plan. However, the move hasn’t stopped diamonds piling up.

What the third quarter will have in store is still unpredictable considering the Covid is ravaging the US (highest demand) and India, where 1 out of every 3 diamonds get cut and polished here.

Till we know with complete surety that the world is free from this dreadful virus, we have got to do what’s best for us, our employees, which means putting their health as topmost priority.

 
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Highlights
Lucara Diamond Corp. announced that it has entered into a definitive supply agreement for the remainder of 2020 with HB Group out ofAntwerp, Belgium("HB"), in respect of all diamonds produced in excess of 10.8 carats in size
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Anton Siluanov has been the Chairman of ALROSA Supervisory Board since 2015. Head of the Republic of Sakha (Yakutia) Aysen Nikolaev and ALROSA CEO Sergey Ivanov were re-elected as First Deputy Chairman and Deputy Chairman of
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If this pandemic has taught us one thing, it is the fact that life is uncertain and fickle. So, people want to make the most of it. People are not able to go out and celebrate as they usually would, and with people who can af
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A very rare, 21.52-carat Colombian “no oil” emerald-and-diamond ring led Phillips' sale of jewels and jadeite in Hong Kong with a presale estimate of between HK$7.5 million and HK$9.5 million (US$960,000 and US$1.
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To augment their existing research program, we are conducting additional consumer, retailer and supply chain touch-bases to understand the pain points and the opportunities for partners large and small across the pipeline. In
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Christie’s New York announces the July 29thauction ofMagnificent Jewelsand the concurrentJewels Onlinesale from July 22 to August 6/7. The auction includes a significant selection of colorless diamonds, colored diamonds
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In a major relief to the Indian diamond industry, the Central Board of Indirect Taxes And Customs, Ministry of Finance, Department of Revenue, Government of India, at the behest of the Gem & Jewellery Export Promotion Cou
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Kunming joins a global network of 13 exclusive Authorised Partners entrusted with the care and custody of Argyle pink diamonds.Patrick Coppens, General manager for Sales and Marketing for Rio Tinto’s diamonds business s
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Titled ‘Managing the Crisis, Mitigating the Impact with Survival & Revival Strategy for Jewelry Industry Related Post COVID-19’, the webinar attracted leading players in the gems and jewelry sector from both T
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Gems & Jewellery Export Promotion Council (GJEPC) reported that gems & jewellery exports declined by54.79% to US$ 2.75 bn during April 2020 to June 2020. Cut & polished diamonds exports for the same period decline
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Sales of rough and polished diamonds accounted for $31.3 million, including proceeds from rough diamond sales of $24.8 million, and from polished diamond sales of $6.5 million. ALROSA Group June 2020 sales of rough and polish
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As‌ ‌the‌ ‌diamond‌ ‌industry‌ ‌adapts‌ ‌to‌ ‌the‌ ‌disruption‌ ‌of‌ ‌the‌ ‌COVID-19‌ ‌pandemic,‌‌Everled
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