Las Vegas Antique Jewelry & Watch Show reports good attendance

Extensive breadth of merchandise found at the show makes it popular with serious trade jewellery buyers and sellers.

Post By : IJ News Service On 15 June 2011 10:53 AM
The Third International Rough Diamond Conference of Israel opened at the hands of Israel Diamond Institute Group (IDI), Managing Director, Eli Avidar, on February 11 2008, with the opening of the renovated Harry Oppenheimer Diamond Museum at the Ramat Gan Diamond Complex. The conference was graced with representatives of more than 99 per cent of the world’s rough diamond production including the leadership of the five largest world producers: Botswana, Russia, Canada, Angola and South Africa.%% The Conference has also ensured participation of leaders from current and future production companies, as well as ministers and delegations from most major diamond producing countries in Africa. The world’s major diamond producing companies are represented by their top executives, including De Beers Managing Director Gareth Penny, DTC Managing Director Varda Shine, Alrosa Managing Director Sergei Vybornov, Harry Winston Diamond Corporation President Robert Gannicott, Petra CEO Adonis Pouroulis, Gem Diamonds Managing Director Clifford Elphick, Namdeb Managing Director Inge Zaamwani and Mwana Africa CEO Kalaa Mpinga. African diamond producing countries have sent significant delegations, mostly headed by mining ministers. These include Botswana Minister of Minerals, Energy & Water Resources Ponatshego Kedikilwe, Lesotho Minister of Natural Resources Monyane Moleleki, Angolan Minister of Geology & Mines Manuel Africano; Liberian Minister of Land, Mines & Energy Eugene Shannon, DRC Deputy Minister of Mines Victor Kasongo, as well as Namibian Diamond Commissioner Kennedy Hamutenya. %% The conference saw many prominent members express their views on various issues in the industry. President of Alrosa, Russia, Sergey Vybornov discussed Alrosa’s initiative to put money in advisement and promotion of the diamond the industry. Managing Director of De Beers, Gareth Penny, focused on four key questions that the diamond industry is facing: What are the major achievements of the industry in the last 5-10 years? What are the present challenges? What can the industry do? What can De Beers do? %% Chairman of Petra, Adonis Pouroulis, spoke about Petra’s activities that stretch over 3 areas: Production, exploration (in the future), and some polishing. “We are interested in substantially expanding our production base and have demonstrated this in the last 18 months. Today, there are a few mines around the world and a shortage in supply is anticipated in the future. However, on the basis of the mines we have today, our rough reserve total is 230 million carats,” noted Pouroulis.
The Harry Oppenheimer Museum’s Chairman, Shmuel Schnitzer, remarked on the upheaval that the Israeli Diamond industry has undergone since the Museum was first opened, with sophisticated technological developments becoming an integral part of the industry. “The Museum needed to change and adapt itself to an industry that uses state-of-the-art technology. I hope that the Museum will continue to serve as an example of the cooperation between De Beers and DTC on the one hand, and the Israeli Diamond Industry, on the other.” %% Israel’s IDI Chairman Moti Ganz delivered a clear message to diamond miners, producing countries and fellow manufacturers at a session devoted to “Producer Strategies” at the Third International Rough Diamond Conference. Ganz disputed claims that there is not enough rough in the pipeline. “There is no shortage of rough. But even more than that – we also have plenty of polished…Manufacturers have accumulated stock in an unprecedented volume of $14 – 17 billion,” he said. He also called on producers to refrain from the use of tenders and auctions, which he said hurts manufacturers and in the long-run the producers themselves. “What hurts manufacturers will also hurt the rough producers -- countries that base their income, or a considerable portion of it, on rough diamonds.” Ganz added. %% In a short presentation before the participants of the Third International Rough Diamond Conference, Alrosa President Sergei Vybornov stated that Alrosa has reserves valued at $109.3 billion. Vyboronov added that four of Alrosa’s mines are to be transferred underground soon. “In the past year we found two significant kimberlite pipes with reserves estimated at about $5 billion.” %% Jeffrey Fischer, President of IDMA, represented the polishers. “There is no doubt that these are hard times. We are seeing rising prices for rough. In some cases these are described as unavoidable but others are unsupportable,” he said. Ernie Blom, WFDB President, said that a decade ago the issue of rough was not in our hands. Most of the manufacturers received rough from the DTC in London and a lot of merchandise was available in Antwerp through the DTC as well. So much has changed. Now rough can be purchased in London, Ramat Gan, Mumbai, Dubai, Russia and over the Internet. CIBJO President Gaetano Cavalieri thought that the conference was a perfect example of leadership. We are looking to the future and are not waiting for surprises. We see an increase in the number of companies and entities involved in the industry as well as a more intense involvement of the producing countries. We must understand this in order to plan the future accordingly.” %% Future sources of rough supply were addressed by Rockwell Diamonds CEO Jeffrey Brenner, Stornoway Diamond Corp. CEO Eira Thomas, Shore Gold Senior Vice-President George Read and Stellar Diamonds CEO Karl Smithson. In addition the Conference is to be addressed by Israel Deputy Prime Minister & Minister of Industry, Trade & Labor Eli Yishai. Other speakers include Israeli diamantaire Lev Leviev, Director-General of the Diamond Administration of China Li Mu and India’s Gem & Jewellery Export Promotion Council’s Praveen Shankar Pandya. %% {{India & China Prime Targets for Israel:}}$$ Israel Diamond Exchange (IDE) President, Avi Paz said, “Despite the decrease in sales to the U.S., Israeli diamantaires had succeeded by dispersing their sales to additional markets. We have targeted China and India for the New Year, since they have the greatest potential for future growth. Japan is also a very important market for our industry.”

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