The efforts to reach out and get African producers involved in the Precious Stones Multi-Stakeholder Working Group (PS-MSWG) at last proved successful: representatives from a handful of African nations traveled to Paris. They were joined by some 50 private companies, NGOs and government members of the Multi Stakeholders Working Group. Read More...

The diamond industry is so competitive, that everyone is clamoring for an advantage, no matter how big or small. This race to improve has some fantastic aspects to it, such as a large investment of research & development in technology and even price analysis. One diamond manufacturer, when asked what is keeping him awake at night once told me, “How to improve yield by 3 percent on my 2-3 round goods.” A small technological improvement means an edge from more cost-efficient production. Read More...

On the face of it, Panama certainly seems like a logical place for a new diamond exchange. From the southern tip of Argentina, relatively close to the South Pole, all the way to Mexico and including the Caribbean, there is not a single diamond bourse. According to estimates, this is a market with diamond jewelry sales valued at around $8 billion, so it is certainly a huge region where diamond firms and jewelers can make money. Read More...

Outwardly, the annual 2013 diamond pipeline looks similar to that for 2012: the rough supplies into the value chain totaled $15.56 billion (2012: $15.5 billion), which, after cutting and polishing, yielded $21.6 billion worth of polished (2012: $20.7 billion) at polished wholesale prices (PWP). Global diamond jewelry retail sales grew by 3-4 percent from $72.1 billion to $74.48 billion, just skirting the $75 billion level. The pipeline's real story, however, plays itself out internally within the value chain: the industry's performance in 2013 significantly improved over 2012. Read More...

Columnists sometimes do the strangest things, like writing a column about something they know very little, and sometimes nothing, about, tossing some figures to give credence to their writings, and in the process causing damage. Read More...

In a Memo two weeks ago, we published a letter by South African Mineral Resources Minister Susan Shabangu addressed to the Secretary General of the OECD in which she made it clear that her government “cannot accept unilateral initiatives and policies supported by the OECD which bypass sovereign governments, discredit international agreements like the Kimberley Process and last but not least impact on minerals from Africa without proper representation from Africa.” Read More...

Few issues in the diamond industry raise more concern than financing. Bank financing is what allows most businesses to expand, overcome temporary cash flow hardships, purchase new equipment, make long-term plans and execute programs. If in many industries a popular figure of speech is, “Bank financing is oxygen” then in the diamond-manufacturing sector of the industry, financing is, quite literally, oxygen. It keeps the manufacturing sector alive. Read More...

The South African government has put the Organization for Economic Co-operation and Development (OECD) on notice of their strong objections to the so-called ‘Precious Stones Multi-Stakeholder Initiative Working Group (PSMI-WG),’ advising the global development organization this week that “it cannot accept unilateral initiatives and policies supported by the OECD which bypass sovereign governments, discredit international agreements like the Kimberley Process and last but not least impact on minerals from Africa without proper representation from Africa.” Read More...

“Even though every rough diamond is unique, buying and selling them depends upon assigning value to agreed standards of size, shape, color and clarity. De Beers combines these factors into 12,000 different, identifiable categories of diamonds. Deciding how to classify any given diamond is a task that requires skill and experience. It is at the heart of what we do,” states the De Beers company website. Read More...

Last month, I wrote in a Memo column that the economic forces that fueled the swell in recycled diamonds in the U.S. have abated, and that after a period of growth, the supply of diamonds from consumers is declining (Recycled Diamonds, Is the Party Over? February 27, 2014). The response to the column was immediate, with many asking for more figures to explain the assertion. Read More...