I received several copies - all with amiable signatures - of an article written by Chaim Even Zohar, entitled "Love and Hate in the Rough Supply Side."
Then I received a copy of the letter sent by De Beers to my sightholders, which speaks of "the flexibility of the allocation of volumes", "the flexibility of real-time demand" and the "flexibility of redistribution."
Then, to top it all off, the news of the establishment of the Diamond Producers Association, which includes De Beers, ALROSA, Rio, Dominion, Petra, Lucara and Gem.
It turns out that something is happening that can hardly be a complete surprise after the disastrous last site of the company De Beers, at which at least 70% of the site was postponed.
"Postponed" actually means, as far as I understand, "refused"; As well as "flexibility" now for the sightholders of De Beers means that the company will do everything it can to get any sales volumes.
The long-awaited wholesale delays or refusals of the goods on the last site is like summarizing the last feature on the sand, but I'm not at all sure where exactly this feature was drawn, nor is it about real problems about all this lively chatter.
Zohar's article is entirely a lengthy critical speech to the diamond producers, in particular, regarding De Beers.
The fact that De Beers was the main target is hardly surprising, given its dominant role in what is accurately called the "oligopolistic production structure where one sets the price."
Although "neat", but this somewhat contradicts the fact that at least three of the members of this new Association of Producers - Petra, Lucara and Gem - sell all or large quantities of raw materials on tenders, thereby providing price flexibility.
But, without sinking to petty quibbles, it should be said that the irritation of the middle part of the diamond pipeline is directed at De Beers as the enemy of the people number one.
Zohar singles out De Beers and suggests that she learn something from ALROSA and, quite simply, adhere to the sphere of activity of the diamond mining company, rather than digging into the world of Forevermark or retail, which, he believes, is distracting and actually in conflict with The interests of its customers - buyers of rough diamonds.
I will not object to any of the statements, but I do not consider this a fundamental issue.
And again, the Zohar reports that "some producers openly expressed" disdain "... regarding sightholders who continue to buy diamonds, knowing that they are doing it at a loss."
I'm fairly sure that this is so, and has held the same view for a long time.
It seems that a loud call was made to return to the carefree times of Oppenheimer, Ralfe and Penny, and this, in my opinion, is the essence of the problems in which the industry is mired.
It was these three musketeers of incompetence, Oppenheimer, Ralph and Penny, who gave a terrible example to those who followed them. Not everything that they, the new leaders did, was bad, but not everything was good, to put it mildly.
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