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Pavel Vinikhin: ALROSA will make a worthy contribution to the revival of the ‘Russian Cut’ Brand

ALROSA is known as the largest diamond mining company throughout the world. However, not everyone is aware that it has its own diamond-cutting division. For a long time, the activity of DIAMONDS ALROSA remained in the shadows, only occasionally attracting...

16 october 2017

William Lamb: Lucara now knows best routes to market large stones

Lucara Diamond recently announced that Graff Diamonds had bought its 1,109 carat diamond Lesedi La Rona for $53 million. The stone, which is the world’s second largest diamond found since the discovery of the 3,106-carat Cullinan diamond in 1905, failed...

09 october 2017

GSI was the first in the world to begin testing of smaller size diamonds in bulk and has never looked back since - Mark Gershburg

With more than 30 years of experience in the gem lab sector under his belt, Mark Gershburg is an industry veteran widely popular in the global gem and jewelry industry. He began his career in 1980 as a grader but his professionalism, creativity, and...

02 october 2017

Gaetano Cavalieri: Over the long term, demand for diamonds is likely to grow at a steady pace

The World Jewellery Confederation (CIBJO) represents the entire jewelry industry embracing a whole variety of companies, from those mining precious metals and gems to those, which are manufacturing and selling final products. The confederation...

25 september 2017

“I am bullish on the future of the diamond business. Three reasons for this optimism... new discoveries, extending mine life and the increasing demand for diamonds”, says Martin Leake

Martin Leake is a PhD exploration geologist and Six Sigma black belt who has been involved in the rough diamond market since 2004. He worked for BHP Billiton for 22 years and recently left Grib Diamonds where he helped set up a world-class marketing...

18 september 2017

Dominion Diamond Corporation announced financial and production targets for 2018

20 march 2017
Dominion Diamond Corporation has released its guidance for sales, Adjusted EBITDA, unit operating costs, and capital and exploration expenditures for fiscal 2018 (ending January 31, 2018).
Sales are expected to be between $875 and $975 million, an increase of 62% compared to fiscal 2017 sales.
Adjusted EBITDA is forecast to be between $475 and $560 million, reflecting a high margin ore mix, combined with ongoing cost containment and efficiency initiatives.
The cash cost of production is expected to be between $70 and $80 per tonne processed and between $35 and $40 per carat produced. The average price per carat sold is expected to range from $70 to $90 per carat.
Growth capital expenditures are expected to total between $115 and $140 million, demonstrating a commitment to investment in growth. Sustaining capital expenditures, including capitalized production stripping, are expected to total between $160 and $190 million.
Combined production at the Ekati mine (100% basis, fiscal 2018) and the Diavik mine (40% share, calendar 2017) is expected to be between 9.1 and 10.0 million carats.
"We continue to execute on our long-term strategic plan and to deliver results. Our strong sales and Adjusted EBITDA forecasts for fiscal 2018 are driven by high value production from Koala and Misery Main, as Ekati moves to the first full year of the new phase of the mine plan," said Jim Gowans, Chairman of the Board of Directors.
According to the company, the diamond market continues to recover from the impact of demonetization in India. The guidance for fiscal 2018 foresees the sale of a higher volume of lower value diamonds that were previously held back from sale due to the weaker market conditions following the demonetization. This is expected to affect the average price per carat sold as well as the number of carats sold, Dominion notes.

Alex Shishlo, Editor of the Rough&PolishedEuropean Bureau in Brussels

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