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It's our responsibility to capture the imagination of future generations towards diamonds

As CEO of Beverly Hills-based Grand Metropolitan - a privately-held luxury goods holding company with a 130-brand portfolio - Vin Lee carries the burden rather lightly on his shoulders. Having migrated from Canada as a baby, it did not take long for...

11 december 2017

‘Non-diamond producing countries shouldn’t lead KP’

Non-diamond producing countries should not lead the Kimberley Process (KP) as was the case last year with the United Arab Emirates (UAE), according to the African Diamond Council and African Diamond Producers Association chairperson...

04 december 2017

Jewellers’ Guild of Russia sees its mission in creating highly developed national jewellery market

In recent years, the Jewellers’ Guild of Russia has noticeably stepped up its activities. Eduard Utkin, General Manager of this Association told Rough & Polished about what is happening in the country’s jewellery sector, the tasks facing the community...

27 november 2017

Any color diamond is a great investment

Bruno Scarselli belongs to the 3rd generation of the Scarselli family, which has for the last half-century been producing and selling some of the world’s highest quality yellow, blue and pink diamonds available on the market. Bruno heads the company...

20 november 2017

It’s crucial everybody feels confident that their suppliers use the System of Warranties - Stephane Fischler

The System of Warranties (SoW) in the diamond industry dates back to 2002, when the World Diamond Council (WDC) in team with the World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association...

13 november 2017

Firestone lowers FY 2018 production guidance

10 august 2017
Firestone Diamonds has revised its production guidance for the fiscal year 2018 as it begins a review of its current life of mine plan to optimise mining operations at its 75 percent-owned Liqhobong Diamond Mine in Lesotho.
It now expects to produce between 800,000 and 850,000 carats in the fiscal year 2018 from the previous guidance of 1 million carats.
However, the overall life of mine carats was not anticipated to change.
“As part of this review, Firestone will be extending the mining of the weathered kimberlite over the coming months, in order to access the lower areas of the pit that have historically yielded higher grade and higher value diamonds,” it said.
“The company also plans to mine additional waste rock in the coming year, in order to improve the long term mining operations.”
Firestone said the move was also expected to impact revenues in the current financial year.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished

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