GJ Town India

New definition includes Synthetic Diamond-LGD!   After AGM, members are considering the amendment that made at Special Business in the 36 th AGM of Bharat Diamond Bourse (BDB) is a New Year gift! At the BDB AGM, the Special Business had amended the diamond definition and had included Synthetic Diamond-LGD (Lab Grown Diamond). Recently the BDB held the thirty sixth Annual General Meeting (AGM) of BDB on Monday, December 28, 2020 at BDB Convention Hall.   Since long- 2015, BDB boundaries remained closed for such LGDs and diamond fraternity will recollect several debate & discussion about the BDB approach. Yet the BDB de facto had gained a great reputation to source mined diamond in the world without any fear on the back of adopted definition in their AA, “Diamond, means any natural and/or mined diamond, whether rough or polished.”  Since long the managing committee of BDB was facing the members’ pressure to adopt LGDs by allowing in the premises.  Virtually ev...

The diamond market improved continuously!   At the juncture of providing the update on Q2 FY 2021 trading, Petra Diamonds said, the diamond market has continued to show improved demand for rough diamonds, as evidenced by the publicly disclosed sales from the majors De Beers and Alrosa, with polished stock and industry debt levels at lower levels than they were at the same time in 2019 due to positive consumer demand as we enter the holiday retail season.   In particular, demand for larger stones (+1 carat) have improved and there are expectations that this will carry into the new calendar year. However, there remains a risk around further disruption as a result of Covid-19. In terms of production in Q2 FY 2021 to date, the Cullinan mine continues to run ahead of the Company’s internal plan, combined with the positive revenue impact of the sale of the Letlapa Tala Collection for US$40.36 million in November 2020. The Finsch mine, however, has seen higher than expected level...

Alrosa sales reached to $377mn in March Alrosa, the world’s largest diamond producer, announces its diamond sales results for March and the first three months of 2019. January-March 2019 sales of rough and polished diamonds amounted to $1,004 million, including $987.9 million of rough diamonds, and $16.3 million that of polished. Alrosa March sales of rough and polished diamonds increased to $377.1 million, an increase of $31.5 million or 9% against previous month numbers.  Rough diamond sales grew to $369.2 million (against $340.6 million in February 2019), polished diamond sales increased to $8 million (against $5 million a month earlier). “The market is gradually stabilizing following a soft demand from cutting and polishing companies in the second half of the last year.  Demand for smaller-sized stones demonstrated recovery in the first quarter. The sector is also gradually restoring the balance between the rough diamond inventories and rough dia...