Russia to continue buying diamonds through state fund in 2025
The Russian budget for 2025-2027 has set aside $1.55 billion for the purchase of precious metals and gems.
The International Institute of Diamond Grading & Research (IIDGR), part of De Beers Group, is pleased to announce that its ground-breaking synthetic diamond screening device, SYNTHdetect, has been shortlisted as a finalist for Industry Innovation of the Year in this year’s JNA Awards.
SYNTHdetect, launched last year, is the first synthetic diamond screening device to simultaneously test multiple stones in set jewellery and has the industry’s lowest referral rate at around 0.05 per cent. The device thereby significantly increases efficiency and reduces costs for retailers and manufacturers when it comes to ensuring they do not buy any undisclosed synthetic diamonds.
Jonathan Kendall, President, IIDGR, said: “We’re delighted that SYNTHdetect has been shortlisted in this year’s JNA Awards. SYNTHdetect was developed using IIDGR’s proprietary technology and it’s wonderful to see our scientists recognised for their innovation through this nomination. We are very proud of this device’s pioneering approach to screening for synthetic diamond content and continue to receive excellent feedback from our customers.”
The awards shortlisting process involved three rounds, including a visit by the judges to IIDGR’s lab in Surat, India, for a demonstration of SYNTHdetect in action.
Winners will be announced at the JNA Awards Ceremony and Gala Dinner on 16 September during the Hong Kong Jewellery & Gem Fair. The JNA Awards champion best business practices in the jewellery and gemstone community by recognising and promoting companies and individuals that demonstrate outstanding leadership, innovative thinking, and sustainable and socially responsible strategies, with a focus on their contribution in Asia, and whose ideas and actions have made a positive impact in the trade and communities.
The International Institute of Diamond Grading & Research has been established by De Beers Group to provide a premium service and proprietary equipment to the diamond industry. Based in the UK, Belgium and India, and run by the world’s top diamond experts, the International Institute of Diamond Grading & Research offers a range of expert services. The International Institute of Diamond Grading & Research works only on diamonds that meet the requirements of the United Nations’ mandated World Diamond Council Kimberley Process. For more information, visit www.iidgr.com.
De Beers Group is a member of the Anglo American plc group. Established in 1888, De Beers Group is the world’s leading diamond company with expertise in the exploration, mining and marketing of diamonds. Together with its joint venture partners, De Beers Group employs more than 20,000 people across the diamond pipeline and is the world’s largest diamond producer by value, with mining operations in Botswana, Canada, Namibia and South Africa. As part of the company’s operating philosophy, the people of De Beers Group are committed to ‘Building Forever’ by making a lasting contribution to the communities in which they live and work, and transforming natural resources into shared national wealth. For further information about De Beers Group, visit www.debeersgroup.com.
