After the publication of the Report of De Beers on the state of the diamond industry (Diamond Insight Report) in 2014, the diamond company said in a new report in 2016 identified the new global and regional trends that are associated with changes in macroeconomic trends in emerging economies, as well as volatility forecasts of global economic growth.
The De Beers also stressed the need for members of the diamond industry to strengthen its competitive opportunities through better planning and increased investment in innovation and marketing.
A new report on the state of the diamond industry in 2016 is focusing on a number of new developments in the market, namely the new consumer preferences. According to the authors of the report, the representatives of "two thousandth generation" are becoming more and more important age group, and in addition, there is the economic empowerment of women, which causes the increase in purchases of jewelry. In addition, the growing competition from other categories of luxury goods increased individualization of jewelry products and innovations in the retail sector, according to De Beers.
At the same time, financial problems for the cutting and polishing segment is expected to continue, and enterprises in the industry will have to adapt, adhering to the tightening of lending standards and professional activity, which will lead to greater transparency in the supply chain of the diamond.
As for the diamond producers, that a large proportion of all rough stones, is expected to be produced from the increasingly deep mines, which are complex and costly to operate. Manufacturers require additional investment to increase production volumes, say in De Beers, while diamond production is expected to remain relatively stable and predictable for the next 10 years.
According to De Beers to analysts, consumer demand for synthetic diamonds currently negligible, but synthetic stones production possibilities for jewelry, will likely continue to expand. Over time, costs and the ultimate cost of these stones to consumers is expected to be reduced.
Independent analysts from large banks expect the sale of diamond jewelry will grow at the expense of the US, while the pressure on the diamond cutting segment is likely to continue. Their findings for the most part consistent with the data report of the company De Beers.
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Canadian company Eldorado Gold has signed an agreement for the sale of 82 percent stake in Jinfeng mine in China, a subsidiary of China National Gold Group for $ 300 million in cash, according to the portal mining.com
is expected that in 2016 at the Jinfeng project will produce 95,000 - 105,000 ounces gold with the final transition to underground mining at the mine.
Pol Rayt (Paul Wright), President and CEO of Eldorado Gold, noted that the China National Gold Group, one of the largest gold producers in China, was a minority shareholder in the Jinfeng more than 14 years.
Perhaps that is why the logical step was the acquisition of the Chinese company's operations in the open pit and underground gold mining at Jinfeng. According to Wright, the mine has brought a stable and good results from the beginning of production in 2007.
It is expected that the transaction will close in the 3rd quarter of this year after the number of the necessary permits.
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