Since time immemorial, there are many "diamonds" that do not cease to amaze people with related stories. The stories, especially about the misfortunes, deaths, destruction, wars, misfortunes for the owners of such diamonds, which used them as jewelry, always excited and captured the imagination of people for many centuries. We in this heading will tell the stories of several such "diamonds" that may interest you ...
A few months ago we told in our section "News" about the demand of a member of the British Parliament to return the diamond Kohinoor (Kohinoor) of India, which aroused great interest among readers. In this publication, we will tell you some striking facts about the hotly debated diamond Kohinor, for which there are still disputes, who is the rightful owner of this famous diamond.
Kohinor is considered the largest and most famous diamond in the world, and no other diamond has caused so much controversy, admiration and interest. Although some believe that it was discovered about 5000 years ago, we now trace, for brevity, its origin and destiny for several centuries.
History says that wars were unleashed, robberies were committed, defeated kings were imprisoned in order to take possession of this stone, which won a reputation, testifying to power, pride, greed, ruin, murder, happiness, success, etc., etc. ., Passing from the hands of the powerful rulers of the world and in fact becoming a military trophy!
Kohinor was a diamond that all sought to possess, which went through many kings / emperors in various parts of the world to eventually become part of the Treasury of the British Crown when Queen Victoria was proclaimed empress of India in 1877 and he remains there until now.
Having missed many myths and historical information about the origin of Kohinoor, let's start from the time when the original stone stayed in India for over 300 years with the traditional Indian cut "rose". True historical records indicate that Kohinor was discovered several centuries ago at a diamond mine near the village of Kollur near Paritaly on the banks of the Krishna River, or in the modern Guntur district of Andhra Pradesh in southern India. From here he was transported to the diamond trading center of Golconda, where he passed from hand to hand to several rulers, until the robber brought him to Delhi in 1332 after a devastating war.
And again, Kohinor moved from one ruler to another, and among many other rulers for many centuries, the owners of this stone were the Great Moguls, then Nadir Shah, the king of Persia, and later the sighian king of Punjab Ranjit Singh, From Lahore and his son Duleep Singh (Duleep Singh), the last Indian owner of this stone. When, in 1849, there was a riot in two Sigh shelves, Britain declared the Punjab part of the British Empire in India, confiscated all the treasures of the Punjab along with the Kohinor diamond and transported it to London.
It is said that the path of Kohinor from India to London was fraught with difficulties, from overcoming difficult impassable terrain, forests, and even traveling by sea was not easy. Storms, cholera, etc., and in addition to the fact that he was a military trophy, "failures" accompanied this stone. But Queen Victoria left Kohinor to herself, and in 1853 he was inserted into the tiara together with 2000 other diamonds.
Some analysts point out that although "misfortunes" happened to men who owned and bore Cochinore, he brought fame and fortune to women - his owners, from Queen Victoria to Queen Alexandra, and later to Queen Mary, after which the stone was inserted into the Maltese cross Before being inserted into the crown, made for Queen Elizabeth, where he remains to this day in all its glory!
Interesting is the information about the weight of the diamond Kohinoor, it is worth knowing about what changes he has undergone. It is said that initially the weight was 793 carats, but it was faceted repeatedly in its history. During the reign of the Mughals, several changes were made to this stone, it was cut, becoming a stone in the "Mogul" style with a weight of 186 carats. When he was exhibited in Hyde Park in London in 1851, the famous gemstone was cut in the usual eastern Indian style - a rosette with many faces on a stone weighing 186 carats - to the disappointment for the British, since he had a diamond cut, not a "diamond" Which is familiar to them and reflects more light. Queen Victoria re-cut it in 1862 in the form of a flat cut diamond in the company Messer Coster Company, Which caused a lot of criticism and protests from the people. It is said that this cut took only thirty-eight days and cost 8,000 pounds sterling. The diamond after the final cut weighed just 108.93 carats. But in 1992, a new publication of Her Majesty's Office on the Treasury of the British Crown indicated a refined weight of 105.602 carats and dimensions of 36 x 31.9 x 13.04 mm. Currently, Kohinoor is the private property of the English royal family. This stone was estimated at that time at £ 100,000. Currently, Kohinoor is the private property of the English royal family. This stone was estimated at that time at £ 100,000. Currently, Kohinoor is the private property of the English royal family. This stone was estimated at that time at £ 100,000.
When India won its independence in 1947, Sir CW Raman (CVRaman), a famous scientist and Nobel Prize winner, expressing the firm opinion of the people of India, said that independence is not complete without the return of Kohinoor. After that, many lawsuits and counterclaims were received from anywhere, directly from India, Iran and Pakistan. In 1953, the Indian government attempted to return Kohinor, but without success. Although demands have been made from other countries, many people in the world agree that the most justified is the demand of India, because the stone was originally mined in Collura in southern India and therefore should return to India. Interestingly, as early as 2000, Kuldip Nayar, a member of the upper chamber and former High Commissioner in Britain, petitioned the parliament to return Kohinor
http://rough-polished.com/ru/expertise/99196.html
Tuesday, August 1, 2017
Legislative obstacles to extensive structural and financial reforms
Far from creating protectionist tendencies in the United States, can elected President Donald Trump, unwilling himself, help the flourishing of global trade next year?
Here we need to consider one scenario: a strong dollar and an American labor market with high labor demand combined with Trump's proposed fiscal plans can cause a rise in net imports in the United States in 2017, which is a boon to exporters and manufacturers of goods, for example, China , Contrary to the protectionist statements of Republicans in the course of the pre-election campaign.
This is the opinion expressed by Gabriel Stein, an experienced market analyst at Roubini Global Economics LLC. He argues that there are prerequisites for a large-scale increase in investment activity, which will face a growing deficit in America's balance of payments next year, as all three domestic participants - the public sector, households, corporations - are cutting their savings.
"The policy of the Trump administration seems to lead to the strengthening of the dollar and the widening of the current account deficit in the US balance of payments," Stein noted in his report in late December. "Some, including exporters to the United States (Canada, Eurozone, China, Korea), as well as exporters of oil and commodities, will benefit more or less."
Stein comes to this conclusion on the basis of what is known as the sectoral financial balance. Simply put, national current accounts reflect the interaction between savings and investment; The amount of accumulated funds in the economy equals the amount invested, according to the accounts. If corporations in America, for example, invest, and neither households nor public sectors increase their amount of savings to the appropriate level, by definition, the current account balance can go into a negative field, mirroring the growth of net inflows of savings from abroad.
The view that the government influences savings and investment balances of households, companies and foreign trading partners was central to economies with trade deficits during the discussion of austerity measures following the 2008 financial crisis. Supporters of this approach argued that the private sector's desire to increase its net saving rates caused the need for an appropriate budget deficit in order to compensate for the incentive for the private sector to save money, which was an effective solution to the frugality paradox.
Moving forward in 2017: there is a new question for economists. How can an increase in the US budget deficit affect the incentive for the US private sector to save money and how will this affect global aggregate demand?
"Expansion of the state deficit should cause an increase in net financial balances in the non-state sector, private and foreign sectors," says Naufal Sanaullah, trader and founder of the MacroBeat website. "If Trump does not create significant barriers to trade, part of the increased public deficit may flow into higher foreign net financial balances, which is equivalent to increasing the current account deficit in the United States, and the rest will serve to fill the balance sheets of the private sector."
Next year, Stein expects a slight increase in demand for imports in the United States, caused by an optimistic forecast for the investment cycle in the public and private sectors.
Next year, he expects a decline in the financial growth of the corporate sector, which was 1.9 percent of GDP in the third quarter, taking into account support at the level of fiscal stimulus and plans for reforming the tax system. In addition, it appears that household balance sheets will also decline, amounting to 0.7 percent of GDP; This is due to the fact that expectations for greater growth and increased borrowing will fix low interest rates, according to an analyst at Roubini Global Economics, who first raised this issue in a report last November.
Therefore, taking into account the fact that in 2017 all three domestic sectors will reduce the amount of their savings, the deficit of the current account of the US will increase, concludes Stein.
Even without financial changes, there is evidence that US economic activity can cause an increase in external aggregate demand next year. "We have a stable labor market, and we have a sustainable economy," said Janet Yellen, chairman of the Federal Reserve Bank, following a decision in December to raise interest rates, suggesting that the US economy can provide full employment In the absence of fiscal incentives.
A strengthened labor market can, therefore, eventually reach a level at which it will stimulate companies to increase production and investment. At the same time, the trend towards higher wages in the light of a weakening economy would cause an increase in the US purchasing power of $ 13 billion and, in theory, give a positive impetus to demand in the rest of the world as an increase in imports.
But all this depends on the forecast for free trade. "I do not think that we will see a sharp increase caused by the flow of funds through the current account channel, if trade will not remain open and tax cuts and creation of fixed monetary investments for consumption of import volume will not be applied," Sanaullah said.
And then, there is a dollar supported by Trump's victory in the elections. Although the sudden and rapid growth of the dollar in mid-2014 was not accompanied by a real increase in the volume of US imports, this time the situation may be different. Since the election, the real effective exchange rate - a weighted trade-weighted dollar against the basket of other major currencies - has grown by 4.6 percent, and Barclays Bank Plc says it is a sharp increase in seven weeks. Therefore, the stability caused by the dollar can change the forecast for trade: a 10 percent change in the exchange rate is associated with a trade balance change of about 1.5 percent of GDP, according to the IMF.
"Trade discussions often tend to be focused on trade policy, rather than on actual trade flows," Brad Setser, a senior expert at the Council on Foreign Relations, said in a blog post last month. From New York. "But it is the trade flows-and the trade deficit-that are important for the total number of jobs in the competitive goods sector, and changes in the value of the currency have a big impact on the level of export volumes and, thus, on the size of the trade deficit."
The growth of the US trade deficit will continue to fuel the loud demands in the Trump administration to follow protectionist policies. Still, the general view is that a real shift in the deficit is still unlikely. The deficit of current US balance of payments items in the next two years is unlikely to change; In 2017 it will remain at the level of 2016 in 2.6 percent of GDP and will reach 2.8 percent in 2018, according to the averaged forecasts in the survey of Bloomberg.
Legislative obstacles to extensive structural and financial reforms can be the main reason for analysts' caution, as well as difficulties in determining the direction of economic development in 2017, from the real dollar level to the trends in imports.
"We really can not know what impact Trump will have on the trade balance. I believe that he is going to cut gross flows, but the impact on the balance sheet is not direct, "said George Pearkes, who deals with strategic macroeconomic issues at the Bespoke Investment Group, and points out the difficulty of predicting final values for savings and investment flows.
One thing is clear: the world actually needs a sharp increase in the current account deficit in the balance of payments of the United States. The trend of increasing the dollar complicates international financial conditions and reduces demand in emerging markets due to insufficient liquidity.
"A strong dollar is already stifling the global economy, and therefore further strengthening will only add strain and weaken the growth of global aggregate demand," said David Beckworth, a researcher at the Mercatus Center at George Mason University in Arlington, Virginia.
Therefore, the inability of the US to increase imports in 2017 will have a strong impact on the global economy, an analyst at Macquarie Group Ltd., headed by Viktor Shvets, concludes in a report released late December.
https://www.bloomberg.com/news/articles/2016-12-22/how-trump-could-accidentally-fuel-a-global-trade-boom
Here we need to consider one scenario: a strong dollar and an American labor market with high labor demand combined with Trump's proposed fiscal plans can cause a rise in net imports in the United States in 2017, which is a boon to exporters and manufacturers of goods, for example, China , Contrary to the protectionist statements of Republicans in the course of the pre-election campaign.
This is the opinion expressed by Gabriel Stein, an experienced market analyst at Roubini Global Economics LLC. He argues that there are prerequisites for a large-scale increase in investment activity, which will face a growing deficit in America's balance of payments next year, as all three domestic participants - the public sector, households, corporations - are cutting their savings.
"The policy of the Trump administration seems to lead to the strengthening of the dollar and the widening of the current account deficit in the US balance of payments," Stein noted in his report in late December. "Some, including exporters to the United States (Canada, Eurozone, China, Korea), as well as exporters of oil and commodities, will benefit more or less."
Stein comes to this conclusion on the basis of what is known as the sectoral financial balance. Simply put, national current accounts reflect the interaction between savings and investment; The amount of accumulated funds in the economy equals the amount invested, according to the accounts. If corporations in America, for example, invest, and neither households nor public sectors increase their amount of savings to the appropriate level, by definition, the current account balance can go into a negative field, mirroring the growth of net inflows of savings from abroad.
The view that the government influences savings and investment balances of households, companies and foreign trading partners was central to economies with trade deficits during the discussion of austerity measures following the 2008 financial crisis. Supporters of this approach argued that the private sector's desire to increase its net saving rates caused the need for an appropriate budget deficit in order to compensate for the incentive for the private sector to save money, which was an effective solution to the frugality paradox.
Moving forward in 2017: there is a new question for economists. How can an increase in the US budget deficit affect the incentive for the US private sector to save money and how will this affect global aggregate demand?
"Expansion of the state deficit should cause an increase in net financial balances in the non-state sector, private and foreign sectors," says Naufal Sanaullah, trader and founder of the MacroBeat website. "If Trump does not create significant barriers to trade, part of the increased public deficit may flow into higher foreign net financial balances, which is equivalent to increasing the current account deficit in the United States, and the rest will serve to fill the balance sheets of the private sector."
Next year, Stein expects a slight increase in demand for imports in the United States, caused by an optimistic forecast for the investment cycle in the public and private sectors.
Next year, he expects a decline in the financial growth of the corporate sector, which was 1.9 percent of GDP in the third quarter, taking into account support at the level of fiscal stimulus and plans for reforming the tax system. In addition, it appears that household balance sheets will also decline, amounting to 0.7 percent of GDP; This is due to the fact that expectations for greater growth and increased borrowing will fix low interest rates, according to an analyst at Roubini Global Economics, who first raised this issue in a report last November.
Therefore, taking into account the fact that in 2017 all three domestic sectors will reduce the amount of their savings, the deficit of the current account of the US will increase, concludes Stein.
Even without financial changes, there is evidence that US economic activity can cause an increase in external aggregate demand next year. "We have a stable labor market, and we have a sustainable economy," said Janet Yellen, chairman of the Federal Reserve Bank, following a decision in December to raise interest rates, suggesting that the US economy can provide full employment In the absence of fiscal incentives.
A strengthened labor market can, therefore, eventually reach a level at which it will stimulate companies to increase production and investment. At the same time, the trend towards higher wages in the light of a weakening economy would cause an increase in the US purchasing power of $ 13 billion and, in theory, give a positive impetus to demand in the rest of the world as an increase in imports.
But all this depends on the forecast for free trade. "I do not think that we will see a sharp increase caused by the flow of funds through the current account channel, if trade will not remain open and tax cuts and creation of fixed monetary investments for consumption of import volume will not be applied," Sanaullah said.
And then, there is a dollar supported by Trump's victory in the elections. Although the sudden and rapid growth of the dollar in mid-2014 was not accompanied by a real increase in the volume of US imports, this time the situation may be different. Since the election, the real effective exchange rate - a weighted trade-weighted dollar against the basket of other major currencies - has grown by 4.6 percent, and Barclays Bank Plc says it is a sharp increase in seven weeks. Therefore, the stability caused by the dollar can change the forecast for trade: a 10 percent change in the exchange rate is associated with a trade balance change of about 1.5 percent of GDP, according to the IMF.
"Trade discussions often tend to be focused on trade policy, rather than on actual trade flows," Brad Setser, a senior expert at the Council on Foreign Relations, said in a blog post last month. From New York. "But it is the trade flows-and the trade deficit-that are important for the total number of jobs in the competitive goods sector, and changes in the value of the currency have a big impact on the level of export volumes and, thus, on the size of the trade deficit."
The growth of the US trade deficit will continue to fuel the loud demands in the Trump administration to follow protectionist policies. Still, the general view is that a real shift in the deficit is still unlikely. The deficit of current US balance of payments items in the next two years is unlikely to change; In 2017 it will remain at the level of 2016 in 2.6 percent of GDP and will reach 2.8 percent in 2018, according to the averaged forecasts in the survey of Bloomberg.
Legislative obstacles to extensive structural and financial reforms can be the main reason for analysts' caution, as well as difficulties in determining the direction of economic development in 2017, from the real dollar level to the trends in imports.
"We really can not know what impact Trump will have on the trade balance. I believe that he is going to cut gross flows, but the impact on the balance sheet is not direct, "said George Pearkes, who deals with strategic macroeconomic issues at the Bespoke Investment Group, and points out the difficulty of predicting final values for savings and investment flows.
One thing is clear: the world actually needs a sharp increase in the current account deficit in the balance of payments of the United States. The trend of increasing the dollar complicates international financial conditions and reduces demand in emerging markets due to insufficient liquidity.
"A strong dollar is already stifling the global economy, and therefore further strengthening will only add strain and weaken the growth of global aggregate demand," said David Beckworth, a researcher at the Mercatus Center at George Mason University in Arlington, Virginia.
Therefore, the inability of the US to increase imports in 2017 will have a strong impact on the global economy, an analyst at Macquarie Group Ltd., headed by Viktor Shvets, concludes in a report released late December.
https://www.bloomberg.com/news/articles/2016-12-22/how-trump-could-accidentally-fuel-a-global-trade-boom
The fall of the De Beers monopoly after it lost the legal battle
The diamond industry is striving to reach a new level in its attempts to win over younger consumers who are more interested in gadgets and gastronomic art.
The lobby of the Diamond Producers Association (DPA) will appeal to its supporters, including leading diamond miners De Beers and ALROSA (PAO), with a proposal to increase their budget from $ 6 million to $ 60 million per year, said people familiar with these plans and Who wished to remain unnamed, since the discussion was confidential.
This group was created in 2015 to try to revive the glorious times that were half a century ago, when slogans such as "Brilliant is forever" met throughout the mass culture. Such dominance, achieved with the help of stars such as Marilyn Monroe, coincided with De Beers' almost complete monopoly on diamond production, which allowed it to directly benefit from the growth in demand following its advertising efforts.
The fall of the De Beers monopoly after it lost the legal battle with the US that lasted for 10 years about setting prices in 2004 led to the fragmentation of the industry, and some diamond mining companies did not want to pay for the promotion of the goods on the market, fearing that this could help competitors . At the same time, young consumers who had money for spending, went to electronics and refined food.
Prices for diamonds are almost at the lowest levels in six years, and global demand in 2015 fell by 2 percent. At the same time, artificial diamonds began to pose a threat to diamond mining companies, since it is becoming easier and cheaper to produce such diamonds.
De Beers cut its marketing budget by half - to about $ 100 million per year in the 2000s. In 2015, it spent about $ 20 million on a new campaign to strengthen demand among the so-called two thousandth generation in the United States and China, which are the largest markets.
The lobby of the diamond mining companies that was formed in the same year seeks to expand this kind of efforts by uniting the diamond mining companies under the new slogan "True - rare. Genuine is a diamond. "(Real is rare, Real is a diamond). Participants' contributions are determined by the levels of sales, and the most paid by De Beers and ALROSA.
https://www.bloomberg.com/news/articles/2017-01-18/diamond-lobby-said-to-seek-10-fold-jump-in-budget-to-spur-demand
The lobby of the Diamond Producers Association (DPA) will appeal to its supporters, including leading diamond miners De Beers and ALROSA (PAO), with a proposal to increase their budget from $ 6 million to $ 60 million per year, said people familiar with these plans and Who wished to remain unnamed, since the discussion was confidential.
This group was created in 2015 to try to revive the glorious times that were half a century ago, when slogans such as "Brilliant is forever" met throughout the mass culture. Such dominance, achieved with the help of stars such as Marilyn Monroe, coincided with De Beers' almost complete monopoly on diamond production, which allowed it to directly benefit from the growth in demand following its advertising efforts.
The fall of the De Beers monopoly after it lost the legal battle with the US that lasted for 10 years about setting prices in 2004 led to the fragmentation of the industry, and some diamond mining companies did not want to pay for the promotion of the goods on the market, fearing that this could help competitors . At the same time, young consumers who had money for spending, went to electronics and refined food.
Prices for diamonds are almost at the lowest levels in six years, and global demand in 2015 fell by 2 percent. At the same time, artificial diamonds began to pose a threat to diamond mining companies, since it is becoming easier and cheaper to produce such diamonds.
De Beers cut its marketing budget by half - to about $ 100 million per year in the 2000s. In 2015, it spent about $ 20 million on a new campaign to strengthen demand among the so-called two thousandth generation in the United States and China, which are the largest markets.
The lobby of the diamond mining companies that was formed in the same year seeks to expand this kind of efforts by uniting the diamond mining companies under the new slogan "True - rare. Genuine is a diamond. "(Real is rare, Real is a diamond). Participants' contributions are determined by the levels of sales, and the most paid by De Beers and ALROSA.
https://www.bloomberg.com/news/articles/2017-01-18/diamond-lobby-said-to-seek-10-fold-jump-in-budget-to-spur-demand
Despite obvious concerns about consumer confidence
The global diamond industry has been forced to deal with a number of crises in recent years, but still the emergence of synthetic diamonds can be the most difficult challenge.
The sector of jewelry with synthetic diamonds, whose driving force is partly consumers' fears about the sources of supply of natural diamonds and supported by wealthy investors, is growing exponentially. The accessibility and comparative quality of synthetic diamonds compel traditional traders to resort to rearguard battles to suppress competition.
The traditional diamond sector has been disturbed for some time, chased by accusations of tax evasion and money laundering, as well as in chronically insufficient operational transparency. Competition from manufacturers of synthetic diamonds emerged just when the sources of financing in traditional diamond trading centers, for example, in Antwerp, London and New York, began to dry out because of the problems faced by the industry. At the same time, the unforeseen decline in sales in China and the weakening of demand around the world in general caused the appearance of the highest ever reserves of natural diamonds, which put even greater pressure on extremely small rates of profit.
Before traditional traders there is an acute problem, connected with the fact that the cost of natural diamonds and, consequently, their perception as purchases, which are in great demand, will decrease as uncontrolled spread of synthetic stones. Already, there is more evidence of the arrival of synthetic diamonds in the supply chain of natural diamonds, which not only threatens to undermine consumer confidence, but also the reputation of the industry.
The origin of the sector of synthetic diamonds can be attributed to the 1950s, when General Electric first developed a laboratory production that culminated in the creation of a stone that could be used as an industrial abrasive. But the process was far from perfect, and only in the early 1970's, on an industrial scale were produced and began to use crystals of jewelry quality.
At present, most laboratory-grown diamonds are made by exposing huge temperatures and pressure to graphite. There is another, perhaps more effective, method in which natural gas is exposed to a microwave beam, resulting in carbon atoms that "stick" to natural diamonds, increasing them.
Such methods of production give precious stones of purity "flawless", which cost 30-40 percent less than natural diamonds. According to conservative estimates, currently the volume of the synthetic diamonds market reaches $ 100- $ 300 million, or more than 1 percent of the global diamond trade. According to Morgan Stanley, in the next few years this share will increase, and the sectors of small and large diamonds quickly reach about 15 percent and 7.5 percent respectively, further stimulating investment.
Behind trends in synthetics is a handful of diamond manufacturers supported by some of the biggest names in Hollywood and Silicon Valley. The presence in Marquee of investors such as DiCaprio, founder of Twitter Evan Williams and Facebook co-founder Andrew McCollum has already become visible through the advertising of laboratory-grown diamonds that many consumers like, That they do not wear the stigma attached to the diamonds mined in the conflict zones. The marketing campaign inflames demand so much that Transparency Market Research expects that by 2023 the synthetic polished diamond market will reach $ 28.8 billion, and jewelry with such stones will be the fastest growing and largest component.
Although wealthy buyers will continue to pay for genuine diamonds, it seems that synthetic diamonds will expand their share in the retail market of inexpensive diamonds, where the price takes precedence over "authenticity" in decision-making.
Since the so-called "blood diamonds" continue to raise questions about the industry's reputation, it has introduced more stringent means of controlling the sources of origin of diamonds under the Kimberley Process Certification Scheme approved by the UN, which, to some extent, Related issues. But in their place there was a new threat associated with dishonest traders, mixing synthetic diamonds in the supply chain. This issue was first announced in March 2012, when more than 600 synthetic stones were found in a batch of 1,000 natural diamonds originating from India, and recent single reports show that this practice is booming.
Despite obvious concerns about consumer confidence, industry experts warned that the issue would affect the prices of natural diamonds, scaring creditors already alarmed by the financial difficulties that traditional traders are currently experiencing.
In September 2014, McKinsey & Co, a global management consulting firm, warned that if consumers lose faith in the supply chain, then the natural diamond industry could experience the same "reputational demand shock", like that that hurt the fur trade in Late 1980s, when a campaign of animal rights activists attracted attention to the atrocities associated with the production of many types of clothing.
Being under enormous pressure, traditional traders are struggling. Their work included advertising workers, reminding consumers of the romantic appeal of natural diamonds. But to convince investors of the perfection of the supply chain remains the most difficult task.
While great efforts are being made to clearly delineate synthetic diamonds and natural diamonds through the identification and disclosure process, considerable investment and time will be required.
http://europe.newsweek.com/why-diamonds-could-be-about-lose-their-luster-520146?rm=eu
The sector of jewelry with synthetic diamonds, whose driving force is partly consumers' fears about the sources of supply of natural diamonds and supported by wealthy investors, is growing exponentially. The accessibility and comparative quality of synthetic diamonds compel traditional traders to resort to rearguard battles to suppress competition.
The traditional diamond sector has been disturbed for some time, chased by accusations of tax evasion and money laundering, as well as in chronically insufficient operational transparency. Competition from manufacturers of synthetic diamonds emerged just when the sources of financing in traditional diamond trading centers, for example, in Antwerp, London and New York, began to dry out because of the problems faced by the industry. At the same time, the unforeseen decline in sales in China and the weakening of demand around the world in general caused the appearance of the highest ever reserves of natural diamonds, which put even greater pressure on extremely small rates of profit.
Before traditional traders there is an acute problem, connected with the fact that the cost of natural diamonds and, consequently, their perception as purchases, which are in great demand, will decrease as uncontrolled spread of synthetic stones. Already, there is more evidence of the arrival of synthetic diamonds in the supply chain of natural diamonds, which not only threatens to undermine consumer confidence, but also the reputation of the industry.
The origin of the sector of synthetic diamonds can be attributed to the 1950s, when General Electric first developed a laboratory production that culminated in the creation of a stone that could be used as an industrial abrasive. But the process was far from perfect, and only in the early 1970's, on an industrial scale were produced and began to use crystals of jewelry quality.
At present, most laboratory-grown diamonds are made by exposing huge temperatures and pressure to graphite. There is another, perhaps more effective, method in which natural gas is exposed to a microwave beam, resulting in carbon atoms that "stick" to natural diamonds, increasing them.
Such methods of production give precious stones of purity "flawless", which cost 30-40 percent less than natural diamonds. According to conservative estimates, currently the volume of the synthetic diamonds market reaches $ 100- $ 300 million, or more than 1 percent of the global diamond trade. According to Morgan Stanley, in the next few years this share will increase, and the sectors of small and large diamonds quickly reach about 15 percent and 7.5 percent respectively, further stimulating investment.
Behind trends in synthetics is a handful of diamond manufacturers supported by some of the biggest names in Hollywood and Silicon Valley. The presence in Marquee of investors such as DiCaprio, founder of Twitter Evan Williams and Facebook co-founder Andrew McCollum has already become visible through the advertising of laboratory-grown diamonds that many consumers like, That they do not wear the stigma attached to the diamonds mined in the conflict zones. The marketing campaign inflames demand so much that Transparency Market Research expects that by 2023 the synthetic polished diamond market will reach $ 28.8 billion, and jewelry with such stones will be the fastest growing and largest component.
Although wealthy buyers will continue to pay for genuine diamonds, it seems that synthetic diamonds will expand their share in the retail market of inexpensive diamonds, where the price takes precedence over "authenticity" in decision-making.
Since the so-called "blood diamonds" continue to raise questions about the industry's reputation, it has introduced more stringent means of controlling the sources of origin of diamonds under the Kimberley Process Certification Scheme approved by the UN, which, to some extent, Related issues. But in their place there was a new threat associated with dishonest traders, mixing synthetic diamonds in the supply chain. This issue was first announced in March 2012, when more than 600 synthetic stones were found in a batch of 1,000 natural diamonds originating from India, and recent single reports show that this practice is booming.
Despite obvious concerns about consumer confidence, industry experts warned that the issue would affect the prices of natural diamonds, scaring creditors already alarmed by the financial difficulties that traditional traders are currently experiencing.
In September 2014, McKinsey & Co, a global management consulting firm, warned that if consumers lose faith in the supply chain, then the natural diamond industry could experience the same "reputational demand shock", like that that hurt the fur trade in Late 1980s, when a campaign of animal rights activists attracted attention to the atrocities associated with the production of many types of clothing.
Being under enormous pressure, traditional traders are struggling. Their work included advertising workers, reminding consumers of the romantic appeal of natural diamonds. But to convince investors of the perfection of the supply chain remains the most difficult task.
While great efforts are being made to clearly delineate synthetic diamonds and natural diamonds through the identification and disclosure process, considerable investment and time will be required.
http://europe.newsweek.com/why-diamonds-could-be-about-lose-their-luster-520146?rm=eu
Currently, the leading diamond mining companies are focusing on optimizing existing resources
How rare were the bulbs of tulips in the 1630s? Were there ways to play them fast? Or, perhaps, it was difficult to grow them? These are all questions for historians. What I do know is that diamonds are rare.
It is important to know that diamonds are rare stones. In the last few weeks, I've described how to create a market for diamonds as an asset to preserve wealth. I have already talked about the need to reach a critical mass of adherents of such assets - groups of people who are interested in diamonds and are confident that whatever the diamond they buy, they will find a buyer who will acquire from them this asset by paying them a premium, As we are already doing with other assets. This group should be large enough to create a resale value, which, in turn, will create demand and form a market. To make this happen, we need a critical mass of supporters who will maintain the stability of the value of traded diamonds.
Next, we need education. Training, which begins with lessons on natural history at the elementary level. Children should know that diamonds are rare creations of nature. That the diamonds are formed deep in the bowels of the planet for a million years, then they are brought to the surface by the activity of volcanoes. Another important point is the museum expositions. They show how diamonds are formed, how diamonds are polished and polished and traded.
Auction houses are another important source of information. They already provide information on diamonds of fancy colors for educating potential buyers.
Recently I added one more component to this idea - transparency. Informing potential buyers about the characteristics of a diamond is important. Knowing what the 4C characteristics mean (weight, color, purity and cut) is just the beginning. They also need to know about the heterogeneities and how much they affect the price of the diamond. This is a reasonably good reason to make this information available to those who are interested in making an informed decision about buying a diamond.
The commitment to transparency is not limited to providing consumers with detailed information about the characteristics of the diamond. It also includes giving them a history of price formation. Educated buyers will also want to know about what fluctuations in diamond prices have been in the past.
Rarity is a prerequisite for diamonds
Rarity creates value. This is an old economic rule. The collection of old cars has a value due to its rarity. Works of art have a higher price because of their rarity. After the artist's death, the cost of his paintings tends to rise. This economy is a rarity in action.
Diamonds are also rare. About 82 percent of the world's diamond production comes from just five countries. This is Russia, Botswana, the Democratic Republic of the Congo, Australia and Canada. According to the Kimberley Process (Kimberley Process, CD), in 2015, they combined to export 104 million carats of diamonds.
Together with five other leading countries (Angola, South Africa, Zimbabwe, Namibia and Sierra Leone), the ten leading diamond-producing countries exported 99 per cent of the world's diamond in 2015.
Approximately 85-90 percent of all diamonds are found in kimberlite pipes. About 10,000 kimberlite pipes are known in the world. Only about 1,000 of them are diamondiferous (contain diamonds). Of these, only 100 pipes are (or were) economically suitable for mining operations - approximately only one percent of the number of kimberlite pipes. Out of these 100 tubes, currently only 26 are operating diamond mines, and about half of them have crossed half their lifetime. Billions of dollars were invested in exploration work to find new resources - with very little success. And prospective diamond mines do not compensate for the depleting reserves of old mines.
Diamonds are found in different regions. In those regions there are very few viable resources. In 2015, about 127 million carats of diamonds were mined. You may think that this is a lot, but only 15 percent have a jewelry quality. Carat is one fifth of a gram, so out of a total of 127 million carats, only 19.05 million carats have a jewelry quality, or about 3,800 kg per year. You should know that about 65 percent of the weight of the diamond is lost during the cutting and polishing. Therefore, out of 19.05 million carats of diamonds of jewelry quality, about 6.6 million carats are produced, or about 1,330 kg of jewelery quality diamonds. Of these, only 40 percent are diamonds weighing one carat or more. This is about 2.7 million carats, or 533 kilograms. About a quarter of diamonds weighing one carat and above, or 133 kg, Are suitable for preserving value or investment. That is, they weigh over one carat, have a color index of H or higher, a purity of VS or higher.
This means that out of 127 million carats of diamonds mined in 2015, we will receive only 665,000 carats of diamonds, suitable for use as assets to preserve wealth. This is only 133 kg per year.
In the period from 1999 to 2008, the cost of exploration increased by 26 percent. The motivation was the reduction of reserves and the desire to find new diamond sources. This ended, and in 2009, the costs of exploration fell by about 64 percent. Currently, the leading diamond mining companies are focusing on optimizing existing resources rather than conducting exploration work. Diamonds hide deep in the bowels of the earth. You can say they are hidden in a very deep storage. In order to open this storehouse, special skills are required that are not easy to acquire, and very large funds, so only a handful of companies can deal with this. On the other hand, this means that we can not expect that someone will simply appear and start mining diamonds, And at the same time the volume of supply will immediately increase. Therefore, given the reduced resources for diamond mining and the fact that a small number of diamond mining companies are reducing their exploration costs in general, the amount of diamonds that can serve as assets for preserving wealth will decline over time.
All this indicates that diamonds are an unusual creation of nature. This very long process means that we can not expect nature to create more diamonds during our lifetime. Or during the life of any of our descendants, at least those to whom we can expect to leave an inheritance.
We also can not produce diamonds based on demand - as some countries print money. So inflationary forces act on diamonds in a different way.
The only conclusion we can draw from all this is that diamonds that are suitable for use as an asset for preserving wealth are rare. And rarity is an economic indicator that is widely used in asset trading. The category of diamonds as an asset for preserving wealth may include diamonds weighing two carats and higher, having a color score of H and above, purity of VS and higher. They may include even smaller diamonds, for example, diamonds weighing 1 carat in color H, "without flaw." Having high-quality information, the necessary education, conducting constant marketing and having an understanding that diamonds are rare, we can bring this to the consciousness of other people and show an untapped opportunity
http://www.ehudlaniado.com/home/index.php/news/entry/from-tulips-to-diamonds-rarity
It is important to know that diamonds are rare stones. In the last few weeks, I've described how to create a market for diamonds as an asset to preserve wealth. I have already talked about the need to reach a critical mass of adherents of such assets - groups of people who are interested in diamonds and are confident that whatever the diamond they buy, they will find a buyer who will acquire from them this asset by paying them a premium, As we are already doing with other assets. This group should be large enough to create a resale value, which, in turn, will create demand and form a market. To make this happen, we need a critical mass of supporters who will maintain the stability of the value of traded diamonds.
Next, we need education. Training, which begins with lessons on natural history at the elementary level. Children should know that diamonds are rare creations of nature. That the diamonds are formed deep in the bowels of the planet for a million years, then they are brought to the surface by the activity of volcanoes. Another important point is the museum expositions. They show how diamonds are formed, how diamonds are polished and polished and traded.
Auction houses are another important source of information. They already provide information on diamonds of fancy colors for educating potential buyers.
Recently I added one more component to this idea - transparency. Informing potential buyers about the characteristics of a diamond is important. Knowing what the 4C characteristics mean (weight, color, purity and cut) is just the beginning. They also need to know about the heterogeneities and how much they affect the price of the diamond. This is a reasonably good reason to make this information available to those who are interested in making an informed decision about buying a diamond.
The commitment to transparency is not limited to providing consumers with detailed information about the characteristics of the diamond. It also includes giving them a history of price formation. Educated buyers will also want to know about what fluctuations in diamond prices have been in the past.
Rarity is a prerequisite for diamonds
Rarity creates value. This is an old economic rule. The collection of old cars has a value due to its rarity. Works of art have a higher price because of their rarity. After the artist's death, the cost of his paintings tends to rise. This economy is a rarity in action.
Diamonds are also rare. About 82 percent of the world's diamond production comes from just five countries. This is Russia, Botswana, the Democratic Republic of the Congo, Australia and Canada. According to the Kimberley Process (Kimberley Process, CD), in 2015, they combined to export 104 million carats of diamonds.
Together with five other leading countries (Angola, South Africa, Zimbabwe, Namibia and Sierra Leone), the ten leading diamond-producing countries exported 99 per cent of the world's diamond in 2015.
Approximately 85-90 percent of all diamonds are found in kimberlite pipes. About 10,000 kimberlite pipes are known in the world. Only about 1,000 of them are diamondiferous (contain diamonds). Of these, only 100 pipes are (or were) economically suitable for mining operations - approximately only one percent of the number of kimberlite pipes. Out of these 100 tubes, currently only 26 are operating diamond mines, and about half of them have crossed half their lifetime. Billions of dollars were invested in exploration work to find new resources - with very little success. And prospective diamond mines do not compensate for the depleting reserves of old mines.
Diamonds are found in different regions. In those regions there are very few viable resources. In 2015, about 127 million carats of diamonds were mined. You may think that this is a lot, but only 15 percent have a jewelry quality. Carat is one fifth of a gram, so out of a total of 127 million carats, only 19.05 million carats have a jewelry quality, or about 3,800 kg per year. You should know that about 65 percent of the weight of the diamond is lost during the cutting and polishing. Therefore, out of 19.05 million carats of diamonds of jewelry quality, about 6.6 million carats are produced, or about 1,330 kg of jewelery quality diamonds. Of these, only 40 percent are diamonds weighing one carat or more. This is about 2.7 million carats, or 533 kilograms. About a quarter of diamonds weighing one carat and above, or 133 kg, Are suitable for preserving value or investment. That is, they weigh over one carat, have a color index of H or higher, a purity of VS or higher.
This means that out of 127 million carats of diamonds mined in 2015, we will receive only 665,000 carats of diamonds, suitable for use as assets to preserve wealth. This is only 133 kg per year.
In the period from 1999 to 2008, the cost of exploration increased by 26 percent. The motivation was the reduction of reserves and the desire to find new diamond sources. This ended, and in 2009, the costs of exploration fell by about 64 percent. Currently, the leading diamond mining companies are focusing on optimizing existing resources rather than conducting exploration work. Diamonds hide deep in the bowels of the earth. You can say they are hidden in a very deep storage. In order to open this storehouse, special skills are required that are not easy to acquire, and very large funds, so only a handful of companies can deal with this. On the other hand, this means that we can not expect that someone will simply appear and start mining diamonds, And at the same time the volume of supply will immediately increase. Therefore, given the reduced resources for diamond mining and the fact that a small number of diamond mining companies are reducing their exploration costs in general, the amount of diamonds that can serve as assets for preserving wealth will decline over time.
All this indicates that diamonds are an unusual creation of nature. This very long process means that we can not expect nature to create more diamonds during our lifetime. Or during the life of any of our descendants, at least those to whom we can expect to leave an inheritance.
We also can not produce diamonds based on demand - as some countries print money. So inflationary forces act on diamonds in a different way.
The only conclusion we can draw from all this is that diamonds that are suitable for use as an asset for preserving wealth are rare. And rarity is an economic indicator that is widely used in asset trading. The category of diamonds as an asset for preserving wealth may include diamonds weighing two carats and higher, having a color score of H and above, purity of VS and higher. They may include even smaller diamonds, for example, diamonds weighing 1 carat in color H, "without flaw." Having high-quality information, the necessary education, conducting constant marketing and having an understanding that diamonds are rare, we can bring this to the consciousness of other people and show an untapped opportunity
http://www.ehudlaniado.com/home/index.php/news/entry/from-tulips-to-diamonds-rarity
The projected diamond content is consistent with what we see
In early March 2016, DiamondCorp reported that, as a new study of the Lace mine in South Africa showed, which belongs to it by 74%, its total resource is 38.48 million tons at a level of up to 920 meters.
This is 16 percent more than the 33.12 million tons received in March 2012, although those figures were for a depth of up to 855 meters.
The company then claimed that the projected diamond content was based on the fact that the enrichment plant would be equipped with sieves with cells measuring 1.25 mm instead of previous sieves with 1.00 mm cells.
The company also indicated that the diamond content will decrease, although the value of the carat of extracted raw materials will be higher.
The volume of diamond mining from this resource at a sieve size increased to 1.25 mm was estimated at 9.39 million carats compared to 13.39 million carats with a sieve size of 1.00 mm.
DiamonCorp stated that within the total resource the volume of 2.21 million tonnes in the UK4 area was classified as reserves at levels from 230 to 370 m.
"The new data on resources and reserves gives a lot more confidence in preliminary data on the content of diamonds and their cost per carat at the Leys field," said Paul Loudon, chief executive officer of the company. "This confirms the possibility of obtaining a high operating profit, which will increase with increasing production depth, which was one of the factors that attracted us in this project from the very beginning."
"The projected diamond content is consistent with what we see when we increase production in UK4, and the actual cost per carat that will be achieved will be known when we start selling diamonds in Antwerp in the last week of March," he added.
As can be seen from the above words, the company showed great confidence in the future of the Leys mine, until a catastrophe erupted at the end of last year.
In October 2016, Lace Diamond Mines received a notification from the South African Department of Natural Resources (DMR) about the closure of underground works after a fire in a dump truck that was extinguished without any damage.
Before the incident, the company stated that in the very near future it was going to seek additional financing of £ 500,000 to fulfill urgent financial obligations in order to continue trading as an operating enterprise.
She also sought to attract additional equity and / or borrowed capital from one or more parties in the amount of £ 2.5 million to £ 3.0 million in the near future in order to cover the expected cash outlays needed to fund its operations before entering the industrial Production and achieving positive cash inflows from operations.
Its troubles began to increase when a third party, with whom negotiations for the provision of convertible debt obligations were at an advanced stage, withdrew from these negotiations due to unfavorable changes in the prices of the company's shares after the fire.
In addition, at the end of 2016, DiamondCorp began reorganizing its Lace Diamond Mines (LDM) manufacturing subsidiary after the suspension of trading its shares in the Alternative Investment Market (AIM) market of the London Stock Exchange and the Alternative Exchange Alternative Exchange of the Johannesburg Stock Exchange (JSE), which slowed down the clarification of its financial position after the flood in the Leys mine.
According to the company, in November two powerful thunderstorms hit the Leys mine and almost 90 mm of rain fell there in just an hour.
This, according to the company, caused overloading of pumping systems of the mine and flooded the production level 310 m to the roof of the reservoir.
DiamondCorp reported that over an open pit and access roads to the mine received more than 10,000 cubic meters. M of water.
According to the company, it was necessary to restore the drilling rig for deep hole drilling, which worked during the flooding, and repair the power supply system.
Undoubtedly, with the advent of 2017, DiamondCorp hoped that all of its adversities would remain in the past.
But, when this date came, the placement of shares was delayed, "bringing the phantom of bankruptcy", according to Mining Weekly.
DiamondCorp said on January 27 that it is postponing the placement of its shares until January 31 to give the State Corporation Industrial Development (IDC), South Africa, the time for the entry into force of the provisional terms of the relevant treaty, and give the Association of Mining And Construction Union, AMCU) to issue the documents and finally agree on the principled agreement that it adhered to with the union.
http://rough-polished.com/ru/expertise/105866.html
This is 16 percent more than the 33.12 million tons received in March 2012, although those figures were for a depth of up to 855 meters.
The company then claimed that the projected diamond content was based on the fact that the enrichment plant would be equipped with sieves with cells measuring 1.25 mm instead of previous sieves with 1.00 mm cells.
The company also indicated that the diamond content will decrease, although the value of the carat of extracted raw materials will be higher.
The volume of diamond mining from this resource at a sieve size increased to 1.25 mm was estimated at 9.39 million carats compared to 13.39 million carats with a sieve size of 1.00 mm.
DiamonCorp stated that within the total resource the volume of 2.21 million tonnes in the UK4 area was classified as reserves at levels from 230 to 370 m.
"The new data on resources and reserves gives a lot more confidence in preliminary data on the content of diamonds and their cost per carat at the Leys field," said Paul Loudon, chief executive officer of the company. "This confirms the possibility of obtaining a high operating profit, which will increase with increasing production depth, which was one of the factors that attracted us in this project from the very beginning."
"The projected diamond content is consistent with what we see when we increase production in UK4, and the actual cost per carat that will be achieved will be known when we start selling diamonds in Antwerp in the last week of March," he added.
As can be seen from the above words, the company showed great confidence in the future of the Leys mine, until a catastrophe erupted at the end of last year.
In October 2016, Lace Diamond Mines received a notification from the South African Department of Natural Resources (DMR) about the closure of underground works after a fire in a dump truck that was extinguished without any damage.
Before the incident, the company stated that in the very near future it was going to seek additional financing of £ 500,000 to fulfill urgent financial obligations in order to continue trading as an operating enterprise.
She also sought to attract additional equity and / or borrowed capital from one or more parties in the amount of £ 2.5 million to £ 3.0 million in the near future in order to cover the expected cash outlays needed to fund its operations before entering the industrial Production and achieving positive cash inflows from operations.
Its troubles began to increase when a third party, with whom negotiations for the provision of convertible debt obligations were at an advanced stage, withdrew from these negotiations due to unfavorable changes in the prices of the company's shares after the fire.
In addition, at the end of 2016, DiamondCorp began reorganizing its Lace Diamond Mines (LDM) manufacturing subsidiary after the suspension of trading its shares in the Alternative Investment Market (AIM) market of the London Stock Exchange and the Alternative Exchange Alternative Exchange of the Johannesburg Stock Exchange (JSE), which slowed down the clarification of its financial position after the flood in the Leys mine.
According to the company, in November two powerful thunderstorms hit the Leys mine and almost 90 mm of rain fell there in just an hour.
This, according to the company, caused overloading of pumping systems of the mine and flooded the production level 310 m to the roof of the reservoir.
DiamondCorp reported that over an open pit and access roads to the mine received more than 10,000 cubic meters. M of water.
According to the company, it was necessary to restore the drilling rig for deep hole drilling, which worked during the flooding, and repair the power supply system.
Undoubtedly, with the advent of 2017, DiamondCorp hoped that all of its adversities would remain in the past.
But, when this date came, the placement of shares was delayed, "bringing the phantom of bankruptcy", according to Mining Weekly.
DiamondCorp said on January 27 that it is postponing the placement of its shares until January 31 to give the State Corporation Industrial Development (IDC), South Africa, the time for the entry into force of the provisional terms of the relevant treaty, and give the Association of Mining And Construction Union, AMCU) to issue the documents and finally agree on the principled agreement that it adhered to with the union.
http://rough-polished.com/ru/expertise/105866.html
The issue of price and quality compliance fades into the background in front of beauty
When you buy jewelry, you will rarely sell a round cut diamond. Instead, you will buy a round-cut stone called a "diamond" - an additional definition refers to the cut invented in 1919 by Marcel Tolkowsky, who changed the game of light in diamonds and the way they were sold. But a century later we see the emergence of a generation of new fences.
The modern round cut "diamond" Tolkowski became revolutionary. It uses 58 faces to achieve the fullest possible reflection of light, and it provides shine and sparkling of the stone - giving birth to a rainbow color game and ice flicker - which is not the case with old fences. By the middle of the century, most new diamond jewelry went to this style of making faces, according to the Gemological Institute of America.
The round cut diamond remained essentially unsurpassed until the beginning of this century, when the price wars that began with the advent of diamantaires trading only on the Internet and offering the lowest prices, caused the emergence of innovations. Jewelers from the retail segment in stores with high overheads could not compete for prices based solely on carat weight, purity and color, and therefore the diamond manufacturers decided to add the latest characteristic of 4C-cut. They invented branded premium-class stones that shone brighter with additional facets.
"The new millennium has brought a lot of branded diamonds," recalls Willie Hamilton, CEO of the Company of Master Jewelers, a network of independent jewelry retailers. One reason for this abundance, according to one industry leader, was the desire to celebrate the new millennium with the longevity that the diamond represents.
The organization of Mr. Hamilton joined the trend by creating Mastercut, a brand of jewelry exclusively for the group that claims to give brilliants the ability to glare 30 percent brighter by increasing the number of facets in the diamond cut to 89. "The average cost of a diamond engagement The ring in the UK is still below £ 1,500, which means that diamond manufacturers are constantly complaining about the drop in profits, "he says. "When such a decline occurs, diamond manufacturers are forced to start looking for ways to increase value added, rather than trying to cut costs ... This can be done through special fences and branded diamonds, but this requires a significant investment."
Many of the brands that offer modified round cut diamonds have since disappeared from the real market segment, prompting the question, was not this just a promotional move. "In my opinion, the only additional facets are a marketing trick, and it should be treated with suspicion," says Andrew Coxon, president of the De Beers Institute of Diamonds. - The truth is that the additional facets do not in themselves guarantee an additional play of light in the stone. More important is the correct location of each face. The fact that larger faces do less, dividing them and increasing their number, often leads to a decrease in the brilliance of the diamond, and not to its strengthening. "
De Beers Diamond Jewelers, a division of the retail trade of the diamond mining corporation, which was established as a joint venture with LVMH, offered a patented cut when it began work in 2001 - an octagonal square diamond, but the concept could not get into fashion, and Mr. Coxon On this occasion says: "Our experience shows that buyers can look at new cuts with pleasure, but they usually buy stones with perfectly built classic cuts that shine more brightly at any angle and in any light Tion. "
Other cuts of the new millennium have stood the test of time. Like De Beers, Tiffany & Co and Garrard preferred to design special fantasy cuts by the year 2000 (a fancy cut is the one that differs from the round cut diamond), and not just to modify round cuts. Lucida's square facet, which has the trademark of Tiffany, was launched in 1999 and is still the cornerstone of its wedding ring offerings, as does Garland's Eternal facet. This is a border pattern with 81 sides for a larger play of light, which was developed by Gabi Tolkowsky, grandchild of Marcel Tolkowski's nephew and can be used in a number of fences, such as the "marquise" or "heart", as well as in round Forms of faceting.
The latest innovations are concentrated on fantasy cuts, but this is more expensive than making small changes to the modern round cut diamond. "It was difficult," admits Jonathan Kendall, director of global production for Forevermark, the retail brand of De Beers, which this year launched a collection of diamonds for the modified fantasy black-box fences. "We invested tremendous resources in the development of these fences. We have 60 or 70 scientists in Maidenhead working on diamond projects - very few people in the industry have such an opportunity. "
Although the process of developing the Black Label collection requires the participation of scientists, this does not mean that the result will be related to the number of faces or percentages of an additional game of light in diamonds. "Many people talk about the indicators of light, graphics and means of measurement, but the reality is that consumers want to have visually the most beautiful diamond," says Mr. Kendall.
The collection of the Black Label now has five forms of cut - "kushon", "heart", "square", "oval" and "circle", and Mr. Kendall hints that there may be more. Although the price of brilliant cut diamonds from the Black Label collection is 30 percent higher than the diamonds of its standard fantasy fences-in part because of the increase in the amount of stone that goes into waste-soft launches for sale this year were well received in the United States , Japan, China and Great Britain. The most popular was the "oval" cut, the first batch of which was sold in four months from the launch, and retailers are waiting for new drains. "I'm not really surprised," says Mr. Kendall. "The industry desperately needs innovation both in jewelry design and in diamond cuts."
Still, for some jewelers - and their customers - the issue of price and quality compliance fades into the background in front of beauty. Nirav Modi, who opened a store on Bond Street this year, has developed his patented cut. "I think it will arouse great interest," says founder and creative director Nirav Modi. "When you can offer something new, something great, then the customers are interested in it."
Although his cuts "Jasmine" and "Mughal", inspired by the floral theme, are the most popular, Mr. Modi is most proud of his facet "Endless", in which Diamonds are so "curved" that their series can curve around a finger, creating a continuous diamond ring without a visible metal frame. "It's incredibly difficult to do - there are no diamonds of this shape, so the yield of diamonds is very low, 85% of the diamond goes into waste," says Mr. Modi, who has been dreaming of such a cut for 20 years. And, of course, the creation created for the sake of the beloved cause - the first "endless" ring - was a gift for Mr. Modi's wife.
https://www.ft.com/content/bdbedf82-895a-11e6-8cb7-e7ada1d123b1
The modern round cut "diamond" Tolkowski became revolutionary. It uses 58 faces to achieve the fullest possible reflection of light, and it provides shine and sparkling of the stone - giving birth to a rainbow color game and ice flicker - which is not the case with old fences. By the middle of the century, most new diamond jewelry went to this style of making faces, according to the Gemological Institute of America.
The round cut diamond remained essentially unsurpassed until the beginning of this century, when the price wars that began with the advent of diamantaires trading only on the Internet and offering the lowest prices, caused the emergence of innovations. Jewelers from the retail segment in stores with high overheads could not compete for prices based solely on carat weight, purity and color, and therefore the diamond manufacturers decided to add the latest characteristic of 4C-cut. They invented branded premium-class stones that shone brighter with additional facets.
"The new millennium has brought a lot of branded diamonds," recalls Willie Hamilton, CEO of the Company of Master Jewelers, a network of independent jewelry retailers. One reason for this abundance, according to one industry leader, was the desire to celebrate the new millennium with the longevity that the diamond represents.
The organization of Mr. Hamilton joined the trend by creating Mastercut, a brand of jewelry exclusively for the group that claims to give brilliants the ability to glare 30 percent brighter by increasing the number of facets in the diamond cut to 89. "The average cost of a diamond engagement The ring in the UK is still below £ 1,500, which means that diamond manufacturers are constantly complaining about the drop in profits, "he says. "When such a decline occurs, diamond manufacturers are forced to start looking for ways to increase value added, rather than trying to cut costs ... This can be done through special fences and branded diamonds, but this requires a significant investment."
Many of the brands that offer modified round cut diamonds have since disappeared from the real market segment, prompting the question, was not this just a promotional move. "In my opinion, the only additional facets are a marketing trick, and it should be treated with suspicion," says Andrew Coxon, president of the De Beers Institute of Diamonds. - The truth is that the additional facets do not in themselves guarantee an additional play of light in the stone. More important is the correct location of each face. The fact that larger faces do less, dividing them and increasing their number, often leads to a decrease in the brilliance of the diamond, and not to its strengthening. "
De Beers Diamond Jewelers, a division of the retail trade of the diamond mining corporation, which was established as a joint venture with LVMH, offered a patented cut when it began work in 2001 - an octagonal square diamond, but the concept could not get into fashion, and Mr. Coxon On this occasion says: "Our experience shows that buyers can look at new cuts with pleasure, but they usually buy stones with perfectly built classic cuts that shine more brightly at any angle and in any light Tion. "
Other cuts of the new millennium have stood the test of time. Like De Beers, Tiffany & Co and Garrard preferred to design special fantasy cuts by the year 2000 (a fancy cut is the one that differs from the round cut diamond), and not just to modify round cuts. Lucida's square facet, which has the trademark of Tiffany, was launched in 1999 and is still the cornerstone of its wedding ring offerings, as does Garland's Eternal facet. This is a border pattern with 81 sides for a larger play of light, which was developed by Gabi Tolkowsky, grandchild of Marcel Tolkowski's nephew and can be used in a number of fences, such as the "marquise" or "heart", as well as in round Forms of faceting.
The latest innovations are concentrated on fantasy cuts, but this is more expensive than making small changes to the modern round cut diamond. "It was difficult," admits Jonathan Kendall, director of global production for Forevermark, the retail brand of De Beers, which this year launched a collection of diamonds for the modified fantasy black-box fences. "We invested tremendous resources in the development of these fences. We have 60 or 70 scientists in Maidenhead working on diamond projects - very few people in the industry have such an opportunity. "
Although the process of developing the Black Label collection requires the participation of scientists, this does not mean that the result will be related to the number of faces or percentages of an additional game of light in diamonds. "Many people talk about the indicators of light, graphics and means of measurement, but the reality is that consumers want to have visually the most beautiful diamond," says Mr. Kendall.
The collection of the Black Label now has five forms of cut - "kushon", "heart", "square", "oval" and "circle", and Mr. Kendall hints that there may be more. Although the price of brilliant cut diamonds from the Black Label collection is 30 percent higher than the diamonds of its standard fantasy fences-in part because of the increase in the amount of stone that goes into waste-soft launches for sale this year were well received in the United States , Japan, China and Great Britain. The most popular was the "oval" cut, the first batch of which was sold in four months from the launch, and retailers are waiting for new drains. "I'm not really surprised," says Mr. Kendall. "The industry desperately needs innovation both in jewelry design and in diamond cuts."
Still, for some jewelers - and their customers - the issue of price and quality compliance fades into the background in front of beauty. Nirav Modi, who opened a store on Bond Street this year, has developed his patented cut. "I think it will arouse great interest," says founder and creative director Nirav Modi. "When you can offer something new, something great, then the customers are interested in it."
Although his cuts "Jasmine" and "Mughal", inspired by the floral theme, are the most popular, Mr. Modi is most proud of his facet "Endless", in which Diamonds are so "curved" that their series can curve around a finger, creating a continuous diamond ring without a visible metal frame. "It's incredibly difficult to do - there are no diamonds of this shape, so the yield of diamonds is very low, 85% of the diamond goes into waste," says Mr. Modi, who has been dreaming of such a cut for 20 years. And, of course, the creation created for the sake of the beloved cause - the first "endless" ring - was a gift for Mr. Modi's wife.
https://www.ft.com/content/bdbedf82-895a-11e6-8cb7-e7ada1d123b1
The market for small diamonds has been weak
A huge number of diamond wedding rings have a weight less than one carat, but still look impressive on the finger of the future bride.
The Letseng Mine in Lesotho is in a different category and is known for producing the finest diamonds in the world. Findings made on it in the past decade include seven stones weighing 300 to 600 carats, the largest of which were the size of a golf ball. And constantly on it find diamonds weighing 25 carats and above, which is completely inaccessible even to a very devoted groom.
Letseng is owned by Gem Diamonds, and she works in an exclusive section of the market, selling stones to super-rich people at tenders that are not attracting attention, which are held eight times a year in Antwerp, Belgium.
Firm Midas cited data that the shares of this company in July 2014 reached a price of 192 pence apiece. Currently, the shares are at 116.25 pence apiece, and at the beginning of last year fell below 100 pence. Shareholders were upset, but the prospects look good, the shares should again significantly strengthen in the next year and in the future.
Gem Diamonds was founded in 2005 by Chief Executive Officer Clifford Elphick. A man with an impeccable record of working in the diamond industry, he spent most of his career working for the Oppenheimer family, which had previously been associated with the diamond mining giant De Beers. Over the years, Gem Diamonds has gained a reputation for mining huge stones, but the year 2016 brought disappointment, mainly due to the fact that a few large stones were mined.
The situation should change in 2017, as Elfik and his team took measures to improve the situation. Firstly, they are mining in different locations on the Letseng site, which promises to be more productive. And secondly, they improved their equipment, ensuring the safety of precious stones in the process of crushing ore.
Letseng is an unusual mine in the sense that although it produces diamonds of exceptional size and quality, there are few of them, so this group is forced to crush hundreds of tons of rock to get a fantastic gem for it. The larger the stone, the more buyers are willing to pay for the carat, so it is extremely important that Gem can maintain the original size of its stones.
It is expected that Gem will also make progress at its other Ghaghoo mine, located in the center of the Kalahari Desert in Botswana.
Acquired in 2007, this mine is more conventional, designed rather to produce a large number of small stones, rather than to random huge stones. But on this site there were many problems, beginning with the financial crisis in 2008 until recently discovered underground groundwater and the collapse of sand in the mine.
Costs increased, diamond production was suspended, and large investors were upset. But the company is going to fully start production in the first half of this year, hoping for a profit.
In the past four years, the market for small diamonds has been weak, but at the end of last year there were signs of recovery. And the market for large diamonds is much more stable, as super-rich people, especially Asian moguls, are looking for them as a symbol of status.
Diamond tenders conducted by Gem are another reserve option, helping to sharply raise the rate of profit. Highly exclusive, only leading diamond buyers are invited, including Laurence Graff, a major shareholder of Gem, who is one of the world's most famous jewelers and is known as the "king of diamonds".
Brokers expect the profit of 2016 to be $ 45.4 million (£ 37.3 million), which is less than $ 99 million in 2015. But it is projected that it will increase by 18 percent this year to $ 53.6 million, and then in 2018 growth is expected. Also, following the results of 2016, it is expected to pay dividends of 4 pence per share, which will remain at the same level in 2017, ensuring a confident 3.4 percent of return on invested capital.
http://www.thisismoney.co.uk/money/investing/article-4143608/MIDAS-UPDATE-Gem-Diamonds-prepares-add-polish.html
The Letseng Mine in Lesotho is in a different category and is known for producing the finest diamonds in the world. Findings made on it in the past decade include seven stones weighing 300 to 600 carats, the largest of which were the size of a golf ball. And constantly on it find diamonds weighing 25 carats and above, which is completely inaccessible even to a very devoted groom.
Letseng is owned by Gem Diamonds, and she works in an exclusive section of the market, selling stones to super-rich people at tenders that are not attracting attention, which are held eight times a year in Antwerp, Belgium.
Firm Midas cited data that the shares of this company in July 2014 reached a price of 192 pence apiece. Currently, the shares are at 116.25 pence apiece, and at the beginning of last year fell below 100 pence. Shareholders were upset, but the prospects look good, the shares should again significantly strengthen in the next year and in the future.
Gem Diamonds was founded in 2005 by Chief Executive Officer Clifford Elphick. A man with an impeccable record of working in the diamond industry, he spent most of his career working for the Oppenheimer family, which had previously been associated with the diamond mining giant De Beers. Over the years, Gem Diamonds has gained a reputation for mining huge stones, but the year 2016 brought disappointment, mainly due to the fact that a few large stones were mined.
The situation should change in 2017, as Elfik and his team took measures to improve the situation. Firstly, they are mining in different locations on the Letseng site, which promises to be more productive. And secondly, they improved their equipment, ensuring the safety of precious stones in the process of crushing ore.
Letseng is an unusual mine in the sense that although it produces diamonds of exceptional size and quality, there are few of them, so this group is forced to crush hundreds of tons of rock to get a fantastic gem for it. The larger the stone, the more buyers are willing to pay for the carat, so it is extremely important that Gem can maintain the original size of its stones.
It is expected that Gem will also make progress at its other Ghaghoo mine, located in the center of the Kalahari Desert in Botswana.
Acquired in 2007, this mine is more conventional, designed rather to produce a large number of small stones, rather than to random huge stones. But on this site there were many problems, beginning with the financial crisis in 2008 until recently discovered underground groundwater and the collapse of sand in the mine.
Costs increased, diamond production was suspended, and large investors were upset. But the company is going to fully start production in the first half of this year, hoping for a profit.
In the past four years, the market for small diamonds has been weak, but at the end of last year there were signs of recovery. And the market for large diamonds is much more stable, as super-rich people, especially Asian moguls, are looking for them as a symbol of status.
Diamond tenders conducted by Gem are another reserve option, helping to sharply raise the rate of profit. Highly exclusive, only leading diamond buyers are invited, including Laurence Graff, a major shareholder of Gem, who is one of the world's most famous jewelers and is known as the "king of diamonds".
Brokers expect the profit of 2016 to be $ 45.4 million (£ 37.3 million), which is less than $ 99 million in 2015. But it is projected that it will increase by 18 percent this year to $ 53.6 million, and then in 2018 growth is expected. Also, following the results of 2016, it is expected to pay dividends of 4 pence per share, which will remain at the same level in 2017, ensuring a confident 3.4 percent of return on invested capital.
http://www.thisismoney.co.uk/money/investing/article-4143608/MIDAS-UPDATE-Gem-Diamonds-prepares-add-polish.html
Representatives of other countries, speaking at the UN General Assembly
Ahmed Bin Sulayem, Chairman of the Kimberley Process in 2016, delivered a speech on the draft resolution "The Role of Diamonds in Fueling Conflict" At the 69th plenary meeting and the 71st session of the UN General Assembly on February 2, 2017.
The resolution on "The role of diamonds in fomenting conflict", presented by the UAE, includes important decisions of the Kimberley Process that were adopted on the basis of consensus during the UAE's stay as chairman of the KP in 2016.
The resolution, developed in co-authorship with 41 countries and adopted by the UN, notes that at its plenary meeting, the CP took note of the proposal by the UAE to develop a methodology for the valuation of diamonds, and considered it appropriate to establish the Permanent Secretariat of the Kimberley Process and to accept the proposal of the Chairman of the KP In 2016 to establish a trust fund with the participation of many donors to finance civil society. This work will now continue under the leadership of Australia, which assumes the role of chairman of the KP in 2017.
Speaking at the United Nations General Assembly, the chairman of the KP, Ahmed bin Sulayem, said:
"Representing governments, industry and civil society engaged in diamond trading, I was able to visit over 20 countries, both members of the Kimberley Process and its future participants. We believe that everything we do in the Kimberley Process should support and guide the work that is carried out mainly in the developing world. During my presidency, I was proud to represent officials who regulate diamond trade in producing countries of rough stones. My trip to the Central African Republic, which was excluded from the Kimberley Process, was particularly important in helping that country to meet the requirements of the Kimberley Process, which made it possible to resume diamond exports from the new zones of the country,
The UN also expressed its gratitude to the participants in the plenary meeting of the Kimberley Process for their approval of the resumption of the participation of the Bolivarian Republic of Venezuela in the work of the CP and its readiness to receive the delegation for the review tour.
Ahmed bin Sulayem outlined three specific proposals made by the UAE as chairman in 2016, which are also reflected in the resolution:
"Firstly, the Kimberley Process is suffering from structural limitations - the lack of a Permanent Secretariat, having the skills and resources that will last longer than the duration of the period of rotation presiding country. For example, the Kimberley Process team worked hard with the authorities of the Central African Republic to restore the legitimate diamond industry. But our working groups and teams consist entirely of volunteers, working without administrative infrastructure. Ideally, we should have had the opportunity to work much faster and more efficiently, but this was impossible without the establishment of the Permanent Secretariat. I am glad that the proposal of the UAE to establish a permanent secretariat was welcomed and included in the draft resolution.
Secondly, the participation of civil society is important for the success of the Kimberley Process, but many very experienced NGOs have been excluded from the job because they do not have direct access to financing participation. For this reason, the draft resolution welcomes the readiness of the Kimberley Process to continue discussing the proposal of the UAE to establish a trust fund or similar mechanisms that will provide financial support for the broad participation of civil society in the Process.
Thirdly, underestimation and overestimation undermine the legitimacy of information about Kimberley Process certificates. During our presidency, we initiated a series of seminars to develop a unified methodology for the valuation of diamonds. Although there was no consensus on a detailed proposal, the draft resolution includes elements of what the methodology should cover. The UAE, as a participant in the Kimberley Process, will continue to explore ways to improve the assessment by producing countries so that they can obtain the most reliable estimate of the value of their natural resources.
We are especially grateful that these initiatives were reflected in the draft resolution and that they will continue to be discussed with the future chairman. "
Representatives of other countries, speaking at the UN General Assembly, expressed gratitude to the UAE for their work as the chairman of the KP in 2016.
"The European Union and its member countries participating as a single participant in the Kimberley Process Certification Scheme would like first of all to thank the United Arab Emirates for presiding over the Kimberley Process and to endorse the results achieved to strengthen the Kimberley Process and Fight against the challenges of the future, "the EU representative said and added:" The EU is pleased to note that in the past twelve months a high priority has been given to the issue of valuation of diamonds, in particular STI, development of a unified methodology. We strongly support the efforts of the KP to create decent living conditions for people engaged at the very beginning of the diamond pipeline. "
The representative of Australia said: "Let me begin by expressing my deep gratitude to Australia for the United Arab Emirates for their work on the chairmanship of the Kimberley Process in 2016. We thank the UAE for being generous in meeting the Kimberley Process, and for organizing additional meetings in special forums. " The representative of Australia further noted: "The CAR monitoring team carried out important work in 2016, including its ongoing work to ensure compliance with the Kimberley Process requirements by creating special zones in the country that are compatible with the organization's rules."
The representative of Angola said: "On behalf of my delegation, I would like to express my gratitude and gratitude to the United Arab Emirates, who is completing the presidency of the Kimberley Process, for their outstanding leadership and for their hard work in ensuring and coordinating the negotiations on the draft resolution that we will adopt today."
The representative of Botswana said: "Let me express our deep gratitude and appreciation to the United Arab Emirates for the qualified conduct of the Kimberley Process cases during their presidency in 2016. We express our gratitude to them for their leadership in contributing to the ideals of the CP, and also for being part of the KP structure, which itself is committed to transformations and transformation. " He further stated: "For us, diamonds are the source of life. They give food to our tables, help to invest in our children through education and training, as well as provide technical training to people and promote comprehensive development for sustainable growth. "
http://rough-polished.com/ru/expertise/105795.html
The resolution on "The role of diamonds in fomenting conflict", presented by the UAE, includes important decisions of the Kimberley Process that were adopted on the basis of consensus during the UAE's stay as chairman of the KP in 2016.
The resolution, developed in co-authorship with 41 countries and adopted by the UN, notes that at its plenary meeting, the CP took note of the proposal by the UAE to develop a methodology for the valuation of diamonds, and considered it appropriate to establish the Permanent Secretariat of the Kimberley Process and to accept the proposal of the Chairman of the KP In 2016 to establish a trust fund with the participation of many donors to finance civil society. This work will now continue under the leadership of Australia, which assumes the role of chairman of the KP in 2017.
Speaking at the United Nations General Assembly, the chairman of the KP, Ahmed bin Sulayem, said:
"Representing governments, industry and civil society engaged in diamond trading, I was able to visit over 20 countries, both members of the Kimberley Process and its future participants. We believe that everything we do in the Kimberley Process should support and guide the work that is carried out mainly in the developing world. During my presidency, I was proud to represent officials who regulate diamond trade in producing countries of rough stones. My trip to the Central African Republic, which was excluded from the Kimberley Process, was particularly important in helping that country to meet the requirements of the Kimberley Process, which made it possible to resume diamond exports from the new zones of the country,
The UN also expressed its gratitude to the participants in the plenary meeting of the Kimberley Process for their approval of the resumption of the participation of the Bolivarian Republic of Venezuela in the work of the CP and its readiness to receive the delegation for the review tour.
Ahmed bin Sulayem outlined three specific proposals made by the UAE as chairman in 2016, which are also reflected in the resolution:
"Firstly, the Kimberley Process is suffering from structural limitations - the lack of a Permanent Secretariat, having the skills and resources that will last longer than the duration of the period of rotation presiding country. For example, the Kimberley Process team worked hard with the authorities of the Central African Republic to restore the legitimate diamond industry. But our working groups and teams consist entirely of volunteers, working without administrative infrastructure. Ideally, we should have had the opportunity to work much faster and more efficiently, but this was impossible without the establishment of the Permanent Secretariat. I am glad that the proposal of the UAE to establish a permanent secretariat was welcomed and included in the draft resolution.
Secondly, the participation of civil society is important for the success of the Kimberley Process, but many very experienced NGOs have been excluded from the job because they do not have direct access to financing participation. For this reason, the draft resolution welcomes the readiness of the Kimberley Process to continue discussing the proposal of the UAE to establish a trust fund or similar mechanisms that will provide financial support for the broad participation of civil society in the Process.
Thirdly, underestimation and overestimation undermine the legitimacy of information about Kimberley Process certificates. During our presidency, we initiated a series of seminars to develop a unified methodology for the valuation of diamonds. Although there was no consensus on a detailed proposal, the draft resolution includes elements of what the methodology should cover. The UAE, as a participant in the Kimberley Process, will continue to explore ways to improve the assessment by producing countries so that they can obtain the most reliable estimate of the value of their natural resources.
We are especially grateful that these initiatives were reflected in the draft resolution and that they will continue to be discussed with the future chairman. "
Representatives of other countries, speaking at the UN General Assembly, expressed gratitude to the UAE for their work as the chairman of the KP in 2016.
"The European Union and its member countries participating as a single participant in the Kimberley Process Certification Scheme would like first of all to thank the United Arab Emirates for presiding over the Kimberley Process and to endorse the results achieved to strengthen the Kimberley Process and Fight against the challenges of the future, "the EU representative said and added:" The EU is pleased to note that in the past twelve months a high priority has been given to the issue of valuation of diamonds, in particular STI, development of a unified methodology. We strongly support the efforts of the KP to create decent living conditions for people engaged at the very beginning of the diamond pipeline. "
The representative of Australia said: "Let me begin by expressing my deep gratitude to Australia for the United Arab Emirates for their work on the chairmanship of the Kimberley Process in 2016. We thank the UAE for being generous in meeting the Kimberley Process, and for organizing additional meetings in special forums. " The representative of Australia further noted: "The CAR monitoring team carried out important work in 2016, including its ongoing work to ensure compliance with the Kimberley Process requirements by creating special zones in the country that are compatible with the organization's rules."
The representative of Angola said: "On behalf of my delegation, I would like to express my gratitude and gratitude to the United Arab Emirates, who is completing the presidency of the Kimberley Process, for their outstanding leadership and for their hard work in ensuring and coordinating the negotiations on the draft resolution that we will adopt today."
The representative of Botswana said: "Let me express our deep gratitude and appreciation to the United Arab Emirates for the qualified conduct of the Kimberley Process cases during their presidency in 2016. We express our gratitude to them for their leadership in contributing to the ideals of the CP, and also for being part of the KP structure, which itself is committed to transformations and transformation. " He further stated: "For us, diamonds are the source of life. They give food to our tables, help to invest in our children through education and training, as well as provide technical training to people and promote comprehensive development for sustainable growth. "
http://rough-polished.com/ru/expertise/105795.html
Excessive criticism because of their strong "automatic alliances"
In a recent issue of Diamond Intelligence Briefs, "Keeping Stock of US Kimberley Process Certificates," Chaim Even-Zohar, an industry analyst, is once again considering Trade in diamonds in the United States and the country's lack of enthusiasm when it comes to implementing Kimberley Process certification standards (Kimberley Process, KR). Judging by the title of the publication, it gives the impression that no one, or at least the government in charge of it, actually monitors the stock of empty KP certificates. The United States Government relies on the United States Kimberley Process Authority (USKPA), a non-profit trade association, which licenses transport and diamond companies to issue KP certificates for diamond exports from the United States. Or, as Even-Zohar writes, she "gives away" the confirmation of such KP certificates "at the level of the exporter", "avoiding legal responsibility" and shifting her responsibility to those whom the KPI's Certification Scheme is called to control.
In this regard, the subtitle of his essay "Will the Trump Administration revitalize the domestic diamond industry" is somewhat misleading: from the very beginning it has been suggested that the diamond industry will have an ally in the person of the first daughter of Ivanka Trump and Jared Kushner, , Her husband (and the senior adviser to the president). The main question is whether the president will exercise his authority over the American department for working with the Kimberley Process to do something more than to use the KP to advance the goals of US foreign policy - something the State Department has shown in the past, According to the author, "extraordinary interest". Will the Trump administration be sufficiently interested in diamond trading to assume the legal responsibility associated with this,
The influence of Ivanka
The first daughter of President Ivanka Trump will bring a good knowledge of the business of diamonds and diamond jewelry to the administration, even if - as announced on January 11 - she will officially leave work for The Trump Organization and her brand of diamond jewelry until her father holds this position. The most obvious consequence will be an advantage for the American diamond business and the strengthening of existing strong ties between the government and the Diamond Dealers Club. "It is reasonable to assume that the diamond community in New York will continue to be important for both Ivanka and her husband ... They can do a lot of good for this sector," writes Even-Zohar.
He suggests that the company's recent involvement, (Madison Avenue Diamonds) in a lawsuit with KGK Jewelry, De Beers Indian sightholder (which Madison lost) caused her to focus her attention and perhaps the attention of the White House on consumer protection issues and confidence in the jewelry industry . "The diamond industry in New York could not have dreamed of more knowledgeable friends in Washington," writes Even-Zohar, and even suggests the possibility that President Trump will be able to actively engage in diamond trading in the context of the tasks he spoke about widely in the election - such , As employment and trade regulation. "In New York there is almost no production of diamonds. Will the elected president return Trump cutters? "- the author of the essay asks the question. At the same time, the main issue is,
Double standards
Even-Zohar begins with an explanation: "KP is undoubtedly falling into the sphere of responsibility of the US president," but the most active participant is the State Department, whose main interest in the requirements and rules of the KP seems to be to control other countries so that they Contributed to the achievement of American interests. Sanctions against the diamond trade of Zimbabwe, introduced in 2011, which have not yet been lifted (the EU lifted its sanctions in 2013), are one of the clear examples. Another example is the partial resumption of exports of rough diamonds from the Central African Republic last year: "Without diminishing the merits of the chairman of the KP, (partial) lifting of sanctions for the export of diamonds from the CAR, it became possible because the State Department wanted to do this, Because the United States was very interested in this, "the author notes. But within the US, the authority to work with the Kimberley Process was delegated to "half a dozen government departments and agencies" in a terribly bureaucratic system.
"From the very first days of the KP," writes Even-Zohar, "the State Department was not very interested in implementing the KP requirements in the United States, but was more focused on protecting the interests of international politics abroad." Some argue that the United States has failed to meet even the "minimum requirements" of the KPCS, and among the 81 member countries it is believed that there is one law for the United States, and another law for everyone else. The United States has not been subjected to excessive criticism because of their strong "automatic alliances" in the CP (Australia, Europe, Canada) and their "warm relations" with non-governmental organizations working with the KP, who often count on the US to finance its activities. Even-Zohar summarizes: "In the latest KP Peer Review Mission mission (2012), civil society representatives did not participate. Undoubtedly, if the same American standards were applied to African countries, Dubai, Switzerland or other states, NGOs would take advantage of this opportunity and write sharp critical reports. " Instead, they preferred to close their eyes. But this situation can change.
"Swamp" Certification scheme KP
The US Kimberley Process Authority (USKPA) is responsible for issuing CA certificates in the US, but Even-Zohar specifies in detail that there are many inconsistencies, statistical deviations and alarming signs indicating that there is "an obvious Lack of proper oversight "for the diamond trade in the United States. Wild statistical discrepancies in diamond trade data in the US indicate prosperous "ring deals" (multiple imports and re-exports of the same goods in order to increase performance and obtain funding from banks, which allows among other things to obtain legal means for money laundering "Or more profitable investments), although he believes that this is probably done by foreign players, rather than by members of the domestic industry.
However, one of the positive developments is that in September 2016, the US State Department, the Census Bureau (monitors official trade figures) and the USKPA announced that they had created a Public-Private Partnership to "strengthen the process, With the help of which the US industry can acquire KP certificates approved by the government. " This was expected a long time ago (the USKPA was established in 2003), and this is good news, even if there are still no reports of the implementation of his work. However, Even-Zohar wonders why it was required to create USKPA. The answer is this: because the US government "has never assumed responsibility for issuing state certificates of the KP." But if a well-established non-profit education has been doing this for 13 years, There should not be problems ..., but there is a problem, because "USKPA also avoids legal responsibility".
This did not escape the attention of the independent expert review missions of the KP, which "politely" called for the removal of the disclaimer on the KP certificates issued by the US Department of Operations with the KP: "The person who issues this certificate does not bear any responsibility for the accuracy of the data Registered by the exporter of the mentioned supply ". Needless to say, this is very surprising. Even-Zohar writes: "How can the government issuing the KP certificate evade responsibility, stating that it is not responsible for its content"? This did not escape the attention of the independent expert review missions of the KP, which "politely" called for the removal of the disclaimer on the KP certificates issued by the US Department of Operations with the KP: "The person who issues this certificate does not bear any responsibility for the accuracy of the data Registered by the exporter of the mentioned supply ". Needless to say, this is very surprising. Even-Zohar writes: "How can the government issuing the KP certificate evade responsibility, stating that it is not responsible for its content"? This did not escape the attention of the independent expert review missions of the KP, which "politely" called for the removal of the disclaimer on the KP certificates issued by the US Department of Operations with the KP: "The person who issues this certificate does not bear any responsibility for the accuracy of the data Registered by the exporter of the mentioned supply ". Needless to say, this is very surprising. Even-Zohar writes: "How can the government issuing the KP certificate evade responsibility, stating that it is not responsible for its content"? Does not bear any responsibility regarding the accuracy of the data registered by the exporter of the said supply. " Needless to say, this is very surprising. Even-Zohar writes: "How can the government issuing the KP certificate evade responsibility, stating that it is not responsible for its content"? Does not bear any responsibility regarding the accuracy of the data registered by the exporter of the said supply. " Needless to say, this is very surprising. Even-Zohar writes: "How can the government issuing the KP certificate evade responsibility, stating that it is not responsible for its content"?
http://www.thediamondloupe.com/articles/2017-01-16/chaim-even-zohar-potential-impact-trump-us-diamond-trade-kp-certification
In this regard, the subtitle of his essay "Will the Trump Administration revitalize the domestic diamond industry" is somewhat misleading: from the very beginning it has been suggested that the diamond industry will have an ally in the person of the first daughter of Ivanka Trump and Jared Kushner, , Her husband (and the senior adviser to the president). The main question is whether the president will exercise his authority over the American department for working with the Kimberley Process to do something more than to use the KP to advance the goals of US foreign policy - something the State Department has shown in the past, According to the author, "extraordinary interest". Will the Trump administration be sufficiently interested in diamond trading to assume the legal responsibility associated with this,
The influence of Ivanka
The first daughter of President Ivanka Trump will bring a good knowledge of the business of diamonds and diamond jewelry to the administration, even if - as announced on January 11 - she will officially leave work for The Trump Organization and her brand of diamond jewelry until her father holds this position. The most obvious consequence will be an advantage for the American diamond business and the strengthening of existing strong ties between the government and the Diamond Dealers Club. "It is reasonable to assume that the diamond community in New York will continue to be important for both Ivanka and her husband ... They can do a lot of good for this sector," writes Even-Zohar.
He suggests that the company's recent involvement, (Madison Avenue Diamonds) in a lawsuit with KGK Jewelry, De Beers Indian sightholder (which Madison lost) caused her to focus her attention and perhaps the attention of the White House on consumer protection issues and confidence in the jewelry industry . "The diamond industry in New York could not have dreamed of more knowledgeable friends in Washington," writes Even-Zohar, and even suggests the possibility that President Trump will be able to actively engage in diamond trading in the context of the tasks he spoke about widely in the election - such , As employment and trade regulation. "In New York there is almost no production of diamonds. Will the elected president return Trump cutters? "- the author of the essay asks the question. At the same time, the main issue is,
Double standards
Even-Zohar begins with an explanation: "KP is undoubtedly falling into the sphere of responsibility of the US president," but the most active participant is the State Department, whose main interest in the requirements and rules of the KP seems to be to control other countries so that they Contributed to the achievement of American interests. Sanctions against the diamond trade of Zimbabwe, introduced in 2011, which have not yet been lifted (the EU lifted its sanctions in 2013), are one of the clear examples. Another example is the partial resumption of exports of rough diamonds from the Central African Republic last year: "Without diminishing the merits of the chairman of the KP, (partial) lifting of sanctions for the export of diamonds from the CAR, it became possible because the State Department wanted to do this, Because the United States was very interested in this, "the author notes. But within the US, the authority to work with the Kimberley Process was delegated to "half a dozen government departments and agencies" in a terribly bureaucratic system.
"From the very first days of the KP," writes Even-Zohar, "the State Department was not very interested in implementing the KP requirements in the United States, but was more focused on protecting the interests of international politics abroad." Some argue that the United States has failed to meet even the "minimum requirements" of the KPCS, and among the 81 member countries it is believed that there is one law for the United States, and another law for everyone else. The United States has not been subjected to excessive criticism because of their strong "automatic alliances" in the CP (Australia, Europe, Canada) and their "warm relations" with non-governmental organizations working with the KP, who often count on the US to finance its activities. Even-Zohar summarizes: "In the latest KP Peer Review Mission mission (2012), civil society representatives did not participate. Undoubtedly, if the same American standards were applied to African countries, Dubai, Switzerland or other states, NGOs would take advantage of this opportunity and write sharp critical reports. " Instead, they preferred to close their eyes. But this situation can change.
"Swamp" Certification scheme KP
The US Kimberley Process Authority (USKPA) is responsible for issuing CA certificates in the US, but Even-Zohar specifies in detail that there are many inconsistencies, statistical deviations and alarming signs indicating that there is "an obvious Lack of proper oversight "for the diamond trade in the United States. Wild statistical discrepancies in diamond trade data in the US indicate prosperous "ring deals" (multiple imports and re-exports of the same goods in order to increase performance and obtain funding from banks, which allows among other things to obtain legal means for money laundering "Or more profitable investments), although he believes that this is probably done by foreign players, rather than by members of the domestic industry.
However, one of the positive developments is that in September 2016, the US State Department, the Census Bureau (monitors official trade figures) and the USKPA announced that they had created a Public-Private Partnership to "strengthen the process, With the help of which the US industry can acquire KP certificates approved by the government. " This was expected a long time ago (the USKPA was established in 2003), and this is good news, even if there are still no reports of the implementation of his work. However, Even-Zohar wonders why it was required to create USKPA. The answer is this: because the US government "has never assumed responsibility for issuing state certificates of the KP." But if a well-established non-profit education has been doing this for 13 years, There should not be problems ..., but there is a problem, because "USKPA also avoids legal responsibility".
This did not escape the attention of the independent expert review missions of the KP, which "politely" called for the removal of the disclaimer on the KP certificates issued by the US Department of Operations with the KP: "The person who issues this certificate does not bear any responsibility for the accuracy of the data Registered by the exporter of the mentioned supply ". Needless to say, this is very surprising. Even-Zohar writes: "How can the government issuing the KP certificate evade responsibility, stating that it is not responsible for its content"? This did not escape the attention of the independent expert review missions of the KP, which "politely" called for the removal of the disclaimer on the KP certificates issued by the US Department of Operations with the KP: "The person who issues this certificate does not bear any responsibility for the accuracy of the data Registered by the exporter of the mentioned supply ". Needless to say, this is very surprising. Even-Zohar writes: "How can the government issuing the KP certificate evade responsibility, stating that it is not responsible for its content"? This did not escape the attention of the independent expert review missions of the KP, which "politely" called for the removal of the disclaimer on the KP certificates issued by the US Department of Operations with the KP: "The person who issues this certificate does not bear any responsibility for the accuracy of the data Registered by the exporter of the mentioned supply ". Needless to say, this is very surprising. Even-Zohar writes: "How can the government issuing the KP certificate evade responsibility, stating that it is not responsible for its content"? Does not bear any responsibility regarding the accuracy of the data registered by the exporter of the said supply. " Needless to say, this is very surprising. Even-Zohar writes: "How can the government issuing the KP certificate evade responsibility, stating that it is not responsible for its content"? Does not bear any responsibility regarding the accuracy of the data registered by the exporter of the said supply. " Needless to say, this is very surprising. Even-Zohar writes: "How can the government issuing the KP certificate evade responsibility, stating that it is not responsible for its content"?
http://www.thediamondloupe.com/articles/2017-01-16/chaim-even-zohar-potential-impact-trump-us-diamond-trade-kp-certification
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