forevermark hosts botswana 'fam' trip for indian retailers · · 2016-05-23(from left)...

SPECTRUM

Forevermark Hosts Botswana 'Fam' Trip For Indian Retailers

Forevermark conducted a familiarisation trip for select Indian retail partners in December last year with the aim of providing insight into the roots of the De Beers diamond business, the positive role the brand plays, and the impact on the economic growth of the region.

The tour celebrated Forevermark’s association with the jewellers and included a visit to De Beers Global Sightholder

diamond production, from small, industrial diamonds to gem-quality treasures.

Forevermark’s retail partners got an understanding of the group’s sustained and continued contribution to communities in the region through education, health and employment services. Apart from focusing on business, the retail partners were treated to Africa’s breathtaking beauty with tours to game reserves

(From left) Chintamani Kaigaonkar, Sanjay Jagwani, Pankaj Arora, Prerna Arora, Rajendra Godra, Vaijayanti Kaigonkar, Tarun Kumar, Pratap Kamath, Vinod Hayagriv and his wife, Avinder Kumar Jain and his wife, Rahul, Ketan Chokshi, Amit Jagwani, Santosh Swant and Mahesh Jagwani enjoy the view at the Orapa mine.

(From left) Rahul, Vaijayanti Kaigaonkar, Prerna Arora, Avinder Kumar Jain & his wife, Rajendra Godra, Ketan Chokshi, Pankaj Arora, Tarun Kanwar, Santosh Sawant, Sachin Jain and Pratap Kamath (at the back) pose for a photograph during a safari.

18 solitaire INTERNATIONAL fEbRuARy 2015

Sales (formerly known as DTC Botswana), the world’s largest and most sophisticated rough diamond sorting and valuing operation. Part of the journey featured a visit to the Orapa mine where the jewellers were briefed about the various processes of the diamond value chain, including mining, blasting, crushing, treatment and recovery. The visitors also got to see expert diamond sorters categorise rough

and a traditional safari in the region of Madikwe, known to have the highest density of wild animals.

Pratap Kamath of Abaran Jewellers, Vinod Hayagriv of C. Krishniah Chetty & Sons, Chintamani Kaigaonkar of Chintamani’s, Mahesh Jagwani of Mahesh Notandass Fine Jewellery, and Sanjay Jagwani & Amit Jagwani of Notandas & Sons were accompanied on the trip by Sachin Jain, president of Forevermark.

Strong Footfall At Kolkata Jewellery & Gem FairThe second edition of the Kolkata Jewellery & Gem Fair (KJGF) hosted by UBM India in association with the Calcutta Gems & Jewellery Association was inaugurated by Dr. Amit Mitra, minister in-charge, department of finance, commerce & industry, Government of West Bengal on January 10. The show housed more than 200 exhibitors and is said to have drawn 6,000 visitors over the two-day period.

KJGF 2015 attracted attention from buyers and international sourcing delegates across Nepal, Bangladesh, Australia, Turkey and UAE, with over 200 hosted buyers. In addition to dedicated pavilions for gold, diamond, etc., the fair had a dedicated machinery pavilion promoting technical know-how in modern jewellery manufacturing with over 35 exhibitors.

Actress Nimrat Kaur also graced the occasion as the showstopper at the Golden Hand Awards which honour traditional karigars for their craftsmanship.

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Alrosa Q4 Production +7% To 10.56 Mn Cts

Alrosa’s diamond production for the fourth quarter of 2014 totalled 10.56 million carats, which is 7% higher versus the same period a year earlier and 8% higher compared to the preceding third quarter. The production increase was driven by the completion of planned maintenance at processing plants, which process ore from the international, Aikhal and Mir underground mines.

Diamond production from the first 89,000 tonnes of ore processed from the Udachny underground mine (commissioned earlier in 2014) totalled 114,000 carats. Production from 516,000 tonnes of ore from the Karpinskogo-1 pipe of the Lomonosov deposit (under development by Severalmaz) amounted to 266,000 carats.

In 2014, Alrosa’s diamond production declined 2% to 36.21 million carats and exceeded the company’s initial plan by 210,000 carats.

According to preliminary sales data, in 2014 Alrosa sold 39.57 million carats of diamonds, including 27.74 million carats of gem-quality diamonds at an average price of $171

per carat, and 11.83 million carats of industrial diamonds at an average price of $12 per carat. Revenue from diamond sales in 2014 reached $5.05 billion, including revenue from rough diamond sales of around $4.90 billion.

During the final three months of 2014, Alrosa sold 10.79 million carats of diamonds, including 6.85 million carats of gem-quality diamonds at an average price of $161 per carat, and 3.94 million carats of industrial diamonds at an average price of $11 per carat.

The company noted that Alrosa’s rough diamond prices went up by around 7% since the beginning of the year.

In 2015, the Company plans its diamond production to be at the level of 38 million carats, diamond sales at the level of 40 million carats, including sales of inventories of around 2 million carats.

The company expects moderate growth of the diamond market in 2015 driven by positive macroeconomic indicators prevailing in major diamond jewellery consuming countries.

Fyodor Andreev, Former Alrosa President, Passes AwayFyodor Andreev, the president of Alrosa from 2009 to 2014, passed away on January 30. “The management of the company on behalf of all employees expresses deep condolences to the family of Fyodor Andreev,” the company stated.

“We knew that Mr. Andreev had been sick for the past several months and was receiving treatment, but it came as a shock to hear of his death, especially at such an early age. On behalf of the WFDB, I would like to pass on our sincere condolences to Mr. Andreev’s family,” said WFDB president Ernest Blom.

Andreev was born in Voronezh on August 16, 1966. He graduated from the Leningrad State University with a diploma in political economy in 1989. In 2002-2003, he worked as first vice-president of Alrosa in charge of finance and economics.

From 2003 to 2009, he held key positions with OAO RZhD (Russian Railways). In 2009, he returned to Alrosa as president of the company and in September 2014 left his post due to medical reasons.


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H uw Daniel has been appointed global CEO of Platinum Guild International (PGI) after 12 years as president of

PGI USA. The announcement was made by the Platinum Jewellery Development Association (PJDA), which represents the major platinum producers (Anglo Platinum, Impala Platinum and Lonmin) and sponsors the PGI. Daniel succeeds long serving CEO James Courage who will retire at the end of April. While the appointment is immediate, Daniel will take on full responsibility for PGI from April 1, 2015.

PGI will relocate its head office from London to Hong Kong, aiming to be fully operational by the summer. The move reflects the growing importance of platinum demand in Asia, PGI said. As a result PGI’s head office will be closer to the two main markets of China and Japan

and the fast-growing Indian market, which together represent 85% of total consumer jewellery demand, and are also important platinum jewellery manufacturing centres. Daniel will also cover the USA which remains a key global market for PGI.

Andrew Hinkly, executive head platinum marketing at Anglo Platinum, representing the three sponsors added: “The Platinum Guild’s move to Hong Kong and the appointment of Huw Daniel recognises the importance of platinum jewellery in Asia, along with continuity of leadership from within the PGI. Jewellery represents over a third of total platinum demand and we, as the main producers, recognise the importance of continuing to invest substantially in its future development and to work even more closely with leading retailers and manufacturers in the four PGI markets.”

PGI APPOINTS Huw DanIel AS CeO;

RELOCATES HQ TO HOnG KOnG

Daniel brings his US platinum knowledge to his new role as well as Asian experience from working in Hong Kong and the Asia Pacific region in advertising and marketing. “It’s an honour to be invited to build on James’ outstanding legacy, and so exciting to return to Asia at a time when platinum is being embraced by new generations of consumers,” Daniel said.

Daniel will establish a new head office team to transfer the skills and leadership from the existing head office. For personal reasons, the COO Nicholas Graham Smith elected not to apply for the CEO role and move to Asia, but will work closely with Daniel and Courage through the transition period in addition to the other members of the head office team. The sponsors also wish to put on record their appreciation for the quality of the work and leadership from the London team.

As a consequence of Daniel’s move, Jenny Luker will become president of PGI USA effective February 2, 2015. Luker has worked with PGI USA for 20 years across every function and has served as senior vice president since 2005. Daniel added, “Jenny is loved and respected by the industry and PGI teams in the US and globally, and I cannot think of a better person to lead platinum sales to new heights as growth continues to outpace overall jewellery sales in the US.”

The PGI offices in the markets are led by Dennis Kao (China), Hisako Hankinson ( Japan), Vaishali Banerjee (India) and Jenny Luker (USA); they will all report to Daniel.

Huw Daniel


Peridot ring set with ideal-cut diamonds finished in platinum, by Michael Barin.

SPECTRUM

GSI Supports World Diamond Mark’s Dubai Shopping Festival Promotion

During the past month, Gemological Science International (GSI) has cooperated closely with the World Diamond Mark Foundation (WDMF) and the Dubai Gold and Jewellery Group (DGJG) to promote the Dubai Shopping Festival (DSF). GSI provided diamond grading services for the 35 diamonds that were raffled during the month-long event and sponsored by WDMF.

Winners of the daily diamond raffles received their diamonds in an especially designed box that carried the WDM and the GSI logos, and included the GSI diamond grading report of the diamond.

DSF started on January 1 and will conclude on February 1, 2015. Throughout the festival shoppers could win a 1-carat diamond or 1 kilo of gold in a daily raffle draw. To be eligible for the raffle, shoppers needed to purchase diamonds and gold jewellery worth AED500 (I8,415). With their purchase, they then received a coupon to enter the raffle draw.

“DSF is a perfect platform to reach out to the consumers and GSI was happy to cooperate with WDM and DGJG and to utilise this opportunity to enhance our company’s name, products and services amongst the 500 jewellery retail outlets across Dubai which are part of this grand promotion,” Mark Gershburg, GSI CEO stated.

WDMF chairman Alex Popov lauded GSI’s joining the diamond promotion and marketing efforts of the WDM. “We welcome GSI as a partner to our consumer-oriented marketing campaigns. GSI is a highly regarded, independent gem lab of impeccable reputation. We look forward to taking this relationship and cooperation further!” Popov concluded.

Forevermark Demand Growing At 47% In US MarketPhilippe Mellier, chief executive, De Beers Group, welcomed Forevermark partners during a private cocktail event in New York addressing the challenges and opportunities facing the diamond industry articulated in the 2014 Diamond Insight Report. The address culminated with attention to the strategic reasons behind the emergence of diamond brands and growth of Forevermark.

Mellier said, “It is undeniable that the consumer landscape in the US is changing...There has been a clear increase in consumer preference for brands and people are also changing how they engage in the retail process.”

He continued by summarising the benefits of the Forevermark proposition: “It answers the consumer’s growing desire for branded products that can be trusted and that can evidence their ethical credentials. It has embraced new ways of selling and of reaching out to engage with younger consumers. It has a high impact marketing approach that operates across a number of channels. And it provides reassurance in terms of grading and quality. And of course while Forevermark responds to the consumer’s needs for confidence, trust, quality and excitement, it also responds to the retailer’s

need for a differentiated and value-adding proposition.”

Referring to the inaugural Diamond Insight Report, published by the De Beers Group of Companies in September 2014, Mellier said that in the US jewellery market, diamonds continue to be by far the most coveted of gemstones. He also referenced a recent survey amongst

Forevermark retailers in which nearly three-fourths reported their overall diamond jewellery sales were equal to, or greater than, the prior year, with almost half reporting increases of 5% or more. In addition, Authorized Forevermark retail doors grew 18% in the last year, demand amounting to over 350,000 inscribed diamonds, a 47% growth over 2013.

“In short,” Mellier concluded, “Forevermark is our way of preparing for the future of diamond jewellery retailing. It is our way of helping to meet the long-term needs of industry stakeholders. It is our way of capturing forever, today.”


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De Beers Plans One-off Forward Contract Sales In Marchfeedback from customers seeking either to lock in short-term security of supply that spot sales cannot provide, or to complement their existing long-term supply contracts. They allow buyers to bid on all future contracts offered, or any combination, and to bid for the volumes of products they require in each contract. This allows buyers the flexibility to construct their own bespoke supply contracts.

Neil Ventura, De Beers’ executive vice president of auction sales, said: “FCS got off to a successful start in 2014 with over 300 contracts sold and customers demonstrating a willingness to pay a premium for short-term security of supply. This year, in response to customer

A sorter inspecting a diamond on the sorting floor.

De Beers announced a number of changes to the 2015 Forward Contract

Sales (FCS) programme for its auction sales business from the programme first launched in 2014 as a result of customer feedback. In response to customer demand for greater availability of Forward Contracts in the first half of the year and for increased range and quantity of products, a single FCS event will take place in March 2015.

At the event, registered customers will have the opportunity to bid for future supply of a wider range of products (from the +2 carats, grainers and smalls' categories), available in multiple-unit volumes and over one, two, three and four-cycle contract durations.

FCS was launched in 2014 in response to

feedback, a wider range of products will be made available including some of our +2-carat products for the first time. Furthermore, the one-off set of FCS auctions will provide our customers with a highly convenient way to secure the products they require for delivery in any one of the four cycles between March and July, or any combination of these delivery periods that suit their needs.”

Customers with a track record of demonstrated demand in the products being offered for sale will be notified and provided the full details in due course. Any customers new to auction sales or yet to participate in FCS can find out more via their account managers.

Mahiar Borhanjoo Named MD Of Venus Jewel InternationalSurat-based diamond manufacturing company Venus Jewel announced the appointment of Mahiar Borhanjoo as the managing director of Venus Jewel International. Borhanjoo left a senior management position at De Beers in 2013.

Borhanjoo will be focused on creating new business ventures and further growing the global portfolio of Venus Jewel. He comes with a wealth of experience within the industry, having spent six years at De Beers as the executive sales director and senior vice president of sales, Venus Jewel said.

Sevantilal Shah, founder partner of Venus Jewel, noted, “It is wonderful that Mahiar has decided to associate with us and we warmly welcome him. We are excited to have him work with us and foresee his experience in De Beers as well as previous expertise in relationship management and lean manufacturing, further adding value to Venus Jewel.”

“I am very excited and quite humbled to be working with Venus Jewel. Not only are they a wonderful organisation with very passionate employees and executives, but in

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addition to being an extremely ethical and transparent company, are also at the cutting edge of technology as well as research and development in diamond grading and manufacturing,” added Borhanjoo.


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Madhuri Dixit Launches P.N. Gadgil’s Panvel Showroom

Bollywood star Madhuri Dixit inaugurated 183-year-old jewellery brand P.N. Gadgil Jewellers’ newest store in Panvel city, about an hour’s drive from Mumbai. Launched in the presence of P.N. Gadgil managing director Saurabh Gadgil and executive director Parag Gadgil, the

jewellery, besides temple and casting element pieces.

“P.N. Gadgil Jewellers is a customer-centric brand and we have always focused on providing the best quality service and authentic jewellery

PC Jeweller Inaugurates First Showroom In Varanasi PC Jeweller (PCJ) continued its retail expansion across the country with the launch of its first showroom in Varanasi on January 18. Bollywood actress Bipasha Basu was present at the opening of the new store – PCJ’s 49th in India.

The Varanasi showroom is segregated into three floors, measuring a total area of 13,000 sq ft. The ground floor exhibits gold jewellery, the first floor houses diamond jewellery and a lounge for private viewings. The second floor showcases silver jewellery and daily wear fashion jewellery.

Balram Garg, managing director, PCJ, said: “This is our first launch in the city. The overwhelming love and acceptance PCJ has received all over the country has encouraged us to expand our network rapidly. There is ample opportunity in Varanasi to experiment and innovate with designs as people here appreciate craftsmanship, which also is an inspiration for designers to keep on bringing new designs and patterns. We always look forward to continue our journey with similar adulation here.”

PCJ announced special discounts and schemes exclusively available at the Varanasi showroom, including a 20% mark-down on diamond jewellery and up to 15% off on the making charges of gold jewellery.

showroom is located in the city’s renowned commercial locality of Shree Sahayya Galaxy.

The 2,500-sq-ft chic and contemporary showroom will house exclusive pieces of minakari, jadau, kundan, classic understated patent yellow gold and diamond

pieces to all our valued customers. This is another step in reaching our goal of ensuring an effective and efficient outreach to our customers worldwide. With our initiative for global expansion we can expect

a 60% growth by the end of 2017,” stated Saurabh Gadgil.

He added that the company was preparing to mark its presence in nearby states with new stores in Goa, Hubli and Indore. “Subsequently on the international front following the US, we will be venturing into Dubai for our highly valued customers.”


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Philippe Mellier: Investment Key To Capturing Long-term Success

Addressing a sightholder reception on January 20, during the first De Beers sight of 2015, Philippe Mellier, chief executive, De Beers Group, said that maintaining success in the diamond industry is dependent upon investment to sustain supply, finance and demand.

Mellier pointed to De Beers’ investment in mining projects in Botswana, South Africa and Canada to deliver sustainability of supply, in its distribution strategy to

ensure the most efficient ways of bringing the product to market, and in the sustainability of demand through Forevermark.

Highlighting the role of sightholders investing for growth he said: “Whether your focus is on economies of scale, improved use of technology or more efficient distribution, sustainably capturing value in the midstream requires ongoing investment so that your own customers’ demand remains strong and reflective of the true value of your product and service proposition.”

Marking the first anniversary of Global Sightholder Sales’ move from London to Gaborone, Mellier praised “the seamless transition [that] is testament to all the hard work put in by government, the sightholders, the local community, and the men and women at the De Beers Group of Companies.”

He concluded by saying, “We believe that the industry is approaching one of the greatest periods of opportunity in living memory, and we are committing to major investments across the pipeline so that we can unlock the full value presented by the industry’s outstanding fundamentals.”

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Niru Diamonds Declared Israel’s Outstanding Exporter Niru Diamonds Israel was among the country’s top ten exporting companies honoured in late January in an official ceremony at the residence of the President of Israel, Reuven Rivlin.

Niru Diamonds received the “Outstanding Exporter” award for 2014, during which time the company exported an impressive $112 million in polished diamonds. In 2013, the company was Israel’s fifth-largest diamond exporter.

The ceremony was held in the presence of President Rivlin and minister of economy Naftali Bennett and was attended by senior officials of the foreign trade administration of the economy ministry, representatives of major economic organisations and exporters. Prizes were awarded to exporters in several categories including advanced technology, traditional industries and the diamond industry.

Bennett said: “Israeli exports are a major part of this country’s economic strength. Israeli creativity drives our industries, both in quality of products and in the ability to break into new markets and expand our reach in existing ones.”

Niru Diamonds Israel was established in 1979 by Ranjeet Barmecha, and became a member of the Israeli Diamond Exchange in 1980. From its roots in Israel, the company has become global, with sales and manufacturing facilities located around the world, including in Geneva, New York, Hong Kong, Bangkok, Sri Lanka and Dubai. Niru was one of only three new companies that rejoined the list of DTC

Ranjeet Barmecha (second from left) accepting the award from minister Naftali Bennett, with President Reuven Rivlin (extreme left) looking on.

sightholders in 2012. A leading manufacturer of princess and baguette-cut diamonds, Niru also specialises in precision setting, making it a leading supplier of the high-end Swiss watch industry and the world’s leading jewellery brands. The Niru Group has been certified by the Responsible Jewellery Council and is a member of the council.

Niru manufactures top quality polished diamonds at state-of-the-art factories in Israel, India, Sri Lanka and Switzerland. The company also manufactures diamond jewellery and has successfully launched the Indian brand Amore, specialising in square-edge diamonds.


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Blue Nile: Americans Overpaying Up To 72% For Engagement Rings

A new study by Wakefield Research shows Americans are overpaying by as much as 72% when they buy a diamond engagement ring from a traditional jewellery store versus finding one of the same quality at a trusted online retailer such as Blue Nile, the leading online jewellery retailer said in a statement.

In the study, all rings had to meet the following criteria: a Gemological Institute of America (GIA)-certified, round-shaped diamond that shared the same “Four Cs” (1 carat, ideal cut, VS2 clarity, H colour), with a platinum six-prong setting. Prices were collected from a leading luxury jewellery chain, traditional mall-based jewellers, and independent local jewellers in the following cities: Atlanta, Boston, Chicago, Dallas/Fort Worth, Houston, Los Angeles, New York City, Philadelphia, San Francisco, Seattle, and Washington, D.C. The prices were then compared to prices at online jeweller Blue Nile.

Average price across studied markets (Source Wakefield Research).

Average percentage more than Blue Nile (Source Wakefield Research).

A comparison of the average price showed that by going to a brick and mortar store, Americans are overpaying for the same quality ring by 72% at a leading luxury jewellery chain, 40% at traditional mall-based jewellers, and 18% at independent local jewellers, than by going to online jeweller Blue Nile.

“Blue Nile was founded on the principle that there is a smarter way to buy a diamond and paying thousands of dollars less than a traditional jewellery store for the same quality diamond certainly lives up to that standard,” said Blue Nile president, CEO, and chairman Harvey Kanter. “After all, would you pay 72% more for the same car at a different dealer?”

Despite the obvious savings on quality diamonds, surprisingly only 8% of Americans will shop for diamond jewellery online. Instead, 46% go to traditional mall-based jewellers, 32% to independent local jewellers, and 15% to a leading luxury jewellery chain according to the study. The study included opinion data that revealed the reason for the discrepancy may be confusion around the world’s most precious stone, including:• Prices: 38% incorrectly believe traditional mall-based

jewellers have the best prices for quality diamonds, with another 28% incorrectly believing independent local jewellers have the best prices.

• Quality: 51% incorrectly believe a leading luxury jewellery chain provides the best quality diamonds, followed by traditional mall-based jewellers (25%), and local independent jewellers (19%).

• Four Cs: 85% incorrectly identified the Four Cs of diamonds, and by understanding the Four Cs, diamonds can be easily compared to find the best price.“There is a lot of misinformation out there about price

and quality in diamonds. Whether or not consumers decide to purchase from Blue Nile, we want them to be educated about the process so they know exactly what they're buying,” Kanter said. “There is no romance in overpaying for a diamond.”

GJEPC Addresses Trade Issues At Sparkle Show In SuratThe Gem & Jewellery Export Promotion Council (GJEPC) held a press conference in the conference hall of the Surat International Exhibition and Convention Centre (SIECC), Sarsana on January 3 on the sidelines of the Sparkle International exhibition.

GJEPC chairman Vipul Shah, GJEPC regional chairman Chandrakant Sanghavi, diamond panel convener Suresh Shah, and Surat Diamond Association (SDA) president Dinesh Navadiya were present at the meeting.

They noted that the Special Notified Zones in Surat and Mumbai would be set up soon once basic policy requirements were met and that the GJEPC is actively involved with the government to announce a decision at the earliest.

The Council also informed about the progress with regard to the signing of an MoU with the SDA for the Parichay Card, adding that it would be executed after an approval from the GJEPC Committee of Administration.


Local Jeweler Mall Jeweler High-End Jeweler

72%

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High-End Jeweler$12,959

Mall Jeweler$10,553

Local Jeweler$8,871

Blue Nile$7,542

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P.N. Gadgil To Open Nine Stores In Nine Months

GJEPC Organises Coloured Gemstones Buyer-Seller Meet In Panyu

P.N. Gadgil Jewellers is all set to expand its base with as many as nine stores over the coming nine months across the country as well as the UAE. The upcoming stores seek to mark the birth centenary as well as first death anniversary of late founder Dajikaka Gadgil.

Saurabh Gadgil, managing director, P.N. Gadgil Jewellers, said: “The new stores are a logical milestone in the course of our 183-year-old journey, which is synonymous with able craftsmanship, purity, happy occasions, endurance and trust. When gold enthusiasts approach P.N. Gadgil Jewellers, they come with the confidence that they are receiving value for money in every way. For several families, shopping at P.N. Gadgil Jewellers is a tradition across generations. We already have a long-standing bond; this just takes it a step further.”

He added: “By taking P.N. Gadgil Jewellers to addresses as diverse as Panvel, Panaji, Nanded, Chandrapur, Baramati, Hubli, Indore, Akluj and Dubai, we are simply reaching out to our cherished customers, who know their hard-earned savings are safe with us. The P.N. Gadgil Jewellers brand has strong roots, and it’s time to diversify so that the fruits can be shared with our valued customers.

The Gem & Jewellery Export Promotion Council (GJEPC) in association with the China Gems Center organised the third edition of the Indo-China Coloured Gemstones Buyer-Seller Meet at the Shawan Jewelry Industrial Park at Panyu, Guangzhou in China on January 15-16, 2015. This meet brought together representatives of more than 100 Chinese companies and 14 select coloured gemstone suppliers of repute from India.

GJEPC chairman Vipul Shah said, “China is one of India’s foremost trading partners, with gem and jewellery exports from India to China recording an impressive figure of

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$91.04 million during the period January-November 2014. We are pleased to organise the third edition of the India-China Coloured Gemstones Buyer-Seller Meet in Panyu. The last two editions which were held in Jaipur met with an astounding success and gave us insights to the enormous potential that the gemstones category possesses. Through this meet we look forward to consolidating our trade relations with China, developing close synergy and increasing direct exports of gemstones to the country.”

The predominantly Chinese trade visitors were treated to a selection of top quality gemstones from the 14 Indian exhibiting companies, most of which were based in Jaipur.

Rajiv Jain, regional chairman – Jaipur, GJEPC, added, “It is a unique opportunity for a cross section of select gemstone suppliers from India under one roof – an opportunity that may not have been possible if the Chinese traders had come in their individual capacities to transact business. We hope this will go a long way in forging trade relations and see stronger business alliances established at this forum.”

The Indian manufacturers that participated in the meet were: Amiable Jewellery Pvt. Ltd., Gems & Jewels, IGM Exports Pvt. Ltd., K.K. Gems Trading Co., K.L. Tambi & Co., Kala Gems Exports, Lord Image, Pihu Gems, Rajratan Exports, S.K. Enterprises, Satyam Gems, Sheru Gems, Shree Krishan Exports and Singhal Gems.

So, by September 11, 2015 you may see P.N. Gadgil Jewellers with 20+ stores in four states and serving more customers.”

The first of these nine stores was launched by actor Madhuri Dixit in Panvel on January 30. The company will inaugurate a store in Panaji, Goa on February 1, in Nanded, Maharashtra on February 7, and in Dubai on February 14. The launch dates and locations for stores in Chandrapur, Baramati, Hubli, Indore and Akluj are yet to be decided, it noted.

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Dubai To Host Second Diamond Conference In AprilThe Dubai Diamond Exchange (DDE), a DMCC platform, will host the second Dubai Diamond Conference on April 21-22, 2015. The conference will be held at Almas Tower, the Middle East’s tallest commercial tower and home to over 1,000 diamond, precious metals, precious stones and jewellery companies.

The two-day conference will bring together international leaders of the diamond industry ranging from several ministers of mines and mineral

Ahmed Bin Sulayem, Executive Chairman, DMCC.

resources from leading African producing countries to traders, financiers and world-renowned jewellers from the Middle East and Asia.

Ahmed Bin Sulayem, executive chairman, DMCC, said: “2015 will be an interesting year for the global diamond trade and at DMCC we are honoured to host and bring together our valued trading partners from across the globe. The global diamond industry has been going through a historic transformation over the last couple of years

with the centre of gravity shifting from West to East.”

The conference will provide an opportunity to build relationships between companies and governments in producing and consuming countries further highlighting the pivotal role Dubai plays in the global diamond trade for diamonds. The DDE programme will enable discussions and debate with a focus on stimulating innovation and growth in the African, Middle Eastern and Asian diamond industry.

Rio Tinto’s Diamond Production -13% To 13.872 Mn Cts In 2014

to increased ore processed. Murowa’s fourth quarter output fell 4% year-on-year to 101,000 carats, but increased 12% versus the preceding third quarter.

Rio Tinto’s diamond production in 2014 dropped 13% to 13.872 million carats, as against 16.027 million carats in 2013 owing to lower grades at its flagship Argyle mine in Australia where it moved to underground mining. The miner’s fourth-quarter output of 2.841 million carats was 37% lower versus a year ago and 20% below the preceding quarter.

Argyle produced a total of 1.81 million carats during the final three months of 2014, down 43% compared with the same period a year earlier and 26% below Q3 2014. Full-year 2014 production at Argyle amounted to 9.18 million carats.

“At Argyle, carats recovered during the year were 19% lower than in 2013, reflecting the move from open pit to underground mining and the processing of lower grades as underground production ramped up. In addition, a maintenance shutdown took place during the fourth quarter to implement some improved design modifications to both underground crushers,” Rio Tinto said.

In Canada, Diavik’s annual production of 4.34 million carats was in line with 2013, with improved mining rates and processing plant improvements offset by the impact of lower grades. The 927,000 carats recovered from Diavik in the fourth quarter were significantly lower (-25%) than in the previous year as improved processing rates have now fully exhausted the stockpiled ore which was processed in prior quarters.

At the Murowa mine in Zimbabwe, the 344,000 carats recovered during 2014 were 7% higher than in 2013 due


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