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CIBJO releases Diamond Special Report examining issues at the faultline between natural and laboratory-grown stones

OCTOBER 2, 2019

With fewer than seven weeks to go to the opening of the 2019 CIBJO Congress in Manama, Bahrain, on November 18, 2019, the fourth of the CIBJO commissions’ Special Reports has been released. Prepared by the CIBJO Diamond Commission, headed by Udi Sheintal, the report focuses predominantly on what it refers to as the “faultline” between diamonds mined in nature and man-made diamonds.

“Because laboratory-grown diamonds prices were deliberately benchmarked against the price of natural diamonds at the outset, the risk exists that the consuming public will continue to associate the one with the other, even after the economics have changed,” Mr. Sheintal writes. “While natural diamonds may once have inflated the price of laboratory-grown stones, the price war in the laboratory-grown diamond sector could have the effect of depressing the value of goods in the natural diamond sector.”

“This makes the task of disconnecting the natural diamond sector and the laboratory-grown diamond sectors even more important, not only from our professional perspective, but from the perspective of the consumer as well. The appeal of both products is different, and so clearly are the economics. They both should be provided the opportunity to thrive, in harmony alongside each other,” he continues.

In the report, Mr. Sheintal calls for the creation of agreed-to rules of engagement between the natural diamond and laboratory-grown diamond sectors in marketing their products, and warns about a readiness to pitch one as being more ethical or environmentally acceptable than the other. “This is not only a self-destructive marketing strategy, but it is also questionable in terms of the claims being made and the data upon which they are based,” he writes.

“Proper rules of engagement need to be created. I suggest that one of them would be for all sides to agree that any stone, which may be precious, but always is a lifeless object, is neither ethical nor environmentally friendly. These qualities refer to the way in which they are mined or manufactured. The onus of responsible behaviour always falls upon the individuals and companies mining or synthesising, processing and marketing these products,” he notes.

To download a full copy of the CIBJO Diamond Commission’s special report, PLEASE CLICK HERE.

By |2019-10-02T10:28:35+00:00October 2nd, 2019|NEWS|Comments Off on CIBJO releases Diamond Special Report examining issues at the faultline between natural and laboratory-grown stones

CIBJO releases Precious Metals Special Report, looks at market drivers, trends and increased scrutiny

SEPTEMBER 25, 2019

With fewer than eight weeks to go to the opening of the 2019 CIBJO Congress in Manama, Bahrain, on November 18, 2019, the third of the CIBJO commissions’ Special Reports has been released. Prepared by the CIBJO Precious Metals Commission, headed by Huw Daniel, the report examines the increasing readiness of national authorities, particularly in the United States, to examine the integrity of the gold supply chain. The report also provides an overview of supply, demand and their effect on prices in the gold, platinum, palladium and silver markets.

“In a time of increasing uncertainty, investors predictably are seeking safe havens in these commodities, and that has implications on price. However, the outlook for demand is less clear, because the integrity of the gold supply chain has come under increasing scrutiny,” writes Mr. Daniel.

The focus on practices in the gold industry is coming from two different sources, the report notes. First, the mainstream media is intensifying reportage of “dirty gold” and issues around where and in what way the metal is sourced, and how it is moved through the supply chain. Second, the U.S government has given notice to the jewellery industry that, for purposes of national security, imported goods should be labelled with all of the countries they have passed through on the journey to the American consumer.

But, despite the increased pressure, the market-analysis section of the report predicts a favourable supply-demand balance for precious metals. But general, however, it is not jewellery that is the deciding factor, but rather the investment market or the automotive sector. In the case of palladium, for example, there has been increasing pressure on supply due to to auto-catalyst systems, because of stricter fuel emissions legislation being imposed globally.

To download a full copy of the CIBJO Precious Metals Commission’s special report, PLEASE CLICK HERE.

By |2019-09-25T10:38:33+00:00September 25th, 2019|NEWS|Comments Off on CIBJO releases Precious Metals Special Report, looks at market drivers, trends and increased scrutiny

CIBJO releases Responsible Sourcing Special Report, describes principles applicable to all members of industry

SEPTEMBER 18, 2019

With fewer than nine weeks to go to the opening of the 2019 CIBJO Congress in Manama, Bahrain, on November 18, 2019, the second of the CIBJO commissions’ Special Reports has been released. Prepared by the CIBJO Responsible Sourcing Commission, headed by Philip Olden, the report provides an overview of the first Responsible Sourcing Blue Book, which was approved in January of this year. It defines a universally agreed-to set of recommended responsible sourcing principles, which can be applied by all members of the greater jewellery industry.

“CIBJO has steadfastly stated that no ethical member or company in the jewellery business should be denied the opportunity to participate because, at any particular point in time, it lacks the financial capacity to meet the demands of a compliance system. At the same time, CIBJO does not accept the contention that a company with limited financial resources should be exempt from conducting any form of responsible sourcing due diligence,” writes Mr. Olden.

“The Responsible Sourcing Blue Book indicates what initial steps can be taken at minimal expense and effort, and proposes a programme of continual improvement, which companies can apply at their own pace,” Mr. Olden adds. The system suggested is based on the OECD’s Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas.

The special report also outlines a programme that CIBJO’ Responsible Sourcing Commission has initiated with the Coloured Gemstone Working Group, facilitated by The Dragonfly Initiative, involving the creation of an online toolkit that will provide supporting documentation to help companies address the Responsible Sourcing Blue Book guidance. It will be presented at the upcoming CIBJO Congress in Bahrain, and subsequently will be made available to the industry at no cost.

To download a full copy of the CIBJO Responsible Sourcing Commission’s special report, PLEASE CLICK HERE.

By |2019-09-18T17:43:52+00:00September 18th, 2019|NEWS|Comments Off on CIBJO releases Responsible Sourcing Special Report, describes principles applicable to all members of industry

CIBJO releases Marketing & Education Special Report, analyzes next great jewellery-buying generation

SEPTEMBER 11, 2019

With fewer than 10 weeks to go to the opening of the 2019 CIBJO Congress in Manama, Bahrain, on November 18, 2019, the first of the CIBJO commissions’ Special Reports has been released. Prepared by the CIBJO Marketing & Education Commission, headed by Jonathan Kendall, the report returns to what has been defined as the next great jewellery-consuming group, Generation Z, providing a breakdown of what the industry needs to consider if it is to ensure that jewellery remains a favoured purchase.

Generation Z refers to young consumers, who currently are 15 to 25 years of age.

“Gen Z is coming to our markets very soon if it has not already arrived in reality,” writes Mr. Kendall. “Its members are forecast to spend a whopping $143 billion this year alone. So we better get them on our side if we want to enjoy a rosy future. In fact, the future success of the jewellery industry will depend on our understanding the needs and wants of Generation Z. Get this right and we can all look forward to strong profitable years moving forward. Get it wrong and we could be destined for the scrap heap – not overnight maybe, but ultimately.”

Communicating predominantly via the social media, studies show that Generation Z is more environmentally conscious and gender neutral than any generation that preceded it. It celebrates authenticity, diversity and human imperfection. It is more likely to heed the advice of a friend, rather than a celebrity.

“Gen Z is prepared to splurge but it must be worth it. The more added value the better, and that can come from its environmental credential or its social value,” notes Mr. Kendall.

To download a full copy of the CIBJO Market & Education Commission’s special report, PLEASE CLICK HERE.

By |2019-09-18T12:00:49+00:00September 11th, 2019|NEWS|Comments Off on CIBJO releases Marketing & Education Special Report, analyzes next great jewellery-buying generation

Registration for CIBJO Congress 2019 now open, dedicated congress website launched

MAY 22, 2019

Registration for the 2019 congress of CIBJO, the World Jewellery Confederation, is now open. Delegates and other participants may register for the congress via a dedicated congress website located at: http://www.cibjo.org/congress2019.

CIBJO’s 2019 annual congress will take place in Manama, the capital of the Kingdom of Bahrain, from November 18 to November 20, with pre-congress meetings beginning on November 16. It is being organised by DANAT, the Bahrain Institute for Pearls and Gemstones. The venue for the event is the Four Seasons Hotel Bahrain Bay.

The dedicated website includes the congress programme, the various congress venues, important travel information, background information about Bahrain, news and photo galleries. An online registration form for the congress is available, and, since the CIBJO Congress 2019 will be a carbon neutral event, participants are also requested to complete a carbon foot-printing form. A registration form for the programme organised for accompanying persons will be added shortly.

Upon registering, CIBJO Congress will also be able to book hotel rooms using links provided on the dedicated website, both for the official congress hotel, the Four Seasons Hotel Bahrain Bay, and the alternate hotel, the Wyndham Grand Manama, which is located within walking distance from the official venue.

CIBJO Congresses serve as the gathering place for the World Jewellery Confederation’s Assembly of Delegates, and also are the venue for the annual meetings of CIBJO’s sectoral commissions, where amendments can be introduced to the organisation’s definitive directories of international industry standards for diamonds, coloured stones, pearls, gem labs, precious metals coral and responsible sourcing, known as the Blue Books.

The CIBJO Congress is also where the programme of World Jewellery Confederation Education Foundation (WJCEF), relating to responsible and sustainable activities in the industry, and its ongoing cooperation with the United Nations is reported upon.

By |2019-05-22T11:34:47+00:00May 22nd, 2019|NEWS|Comments Off on Registration for CIBJO Congress 2019 now open, dedicated congress website launched

2019 CIBJO Congress to take place in Bahrain, November 18-20

ABOVE: The Four Seasons Hotel Bahrain Bay, the official venue and hotel of the 2019 CIBJO Congress, with the city of Manama in the background.

APRIL 9, 2019

CIBJO, the World Jewellery Confederation, will hold its 2019 annual congress in Manama, the capital of the Kingdom of Bahrain, from November 18 to November 20. Pre-congress meetings will be held November 16 and 17, and the congress will follow the World Pearl Forum, which is due to take place on November 14 and 15.

The CIBJO Annual Congress will be organised by DANAT, the Bahrain Institute for Pearls and Gemstones, which is dedicated to developing the local and regional pearl and gemstone industry, and operates one of the world’s most sophisticated laboratories in the field.

The official venue and hotel of the 2019 CIBJO Congress is the Four Seasons Hotel Bahrain Bay.

CIBJO congresses serve as the official gathering place for the World Jewellery Confederation’s Assembly of Delegates, and are also the venue for the annual meetings of CIBJO’s sectoral commissions, where amendments can be introduced to the organisation’s definitive directories of international industry standards for diamonds, coloured stones, pearls, gem labs, precious metals, coral and responsible sourcing, known as the Blue Books.

The CIBJO Congress is also where the programme of World Jewellery Confederation Education Foundation (WJCEF), relating to responsible and sustainable activities in the industry and CIBJO’s ongoing cooperation with the United Nations and its development programme is reported upon.

Located on an archipelago in the Arabian Gulf, Bahrain is home to a pearling industry dating back to at least the 3rd century B.C., giving it claim to what is almost certainly the world’s longest unbroken fine jewellery tradition. The natural pearl oyster beds to the north of the island, as well as Bahrain’s advantageous position as a port city on the trade routes between east and west, led to its old capital of Muharraq becoming the centre of the world’s first pearl-dominated economy. Today, the country remains the world’s preeminent producer of natural pearls, and also is a jewellery centre in its own right, serving the markets of the region.

“We are delighted to accept DANAT’s invitation and to bring the CIBJO Congress to Bahrain,” said Gaetano Cavalieri, CIBJO President. “What participants will discover is a country and an industry that blends its millennia-old legacy and tradition with cutting-edge technology and a vision for the future. We invite members of the gem and jewellery sectors from around the world to join us in Bahrain and be part of the discussion about how our industry will operate moving forward. Great changes are taking place, creating a series of challenges that will shape our business. The CIBJO Congress is where we can meet them together.”

A dedicated CIBJO Congress 2019 website will be launched shortly.

By |2019-09-11T14:27:05+00:00April 9th, 2019|NEWS|Comments Off on 2019 CIBJO Congress to take place in Bahrain, November 18-20
CIBJO Congress 2019