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In a world where transparency is more and more the standard, our business must address the lab grading issue willingly

Jeweler-Designer Arnaud Flambeau started his career in the jewelry business in 1993 at European Gold Company CLAL as Key Account Manager for the Jewelry Division, where he was in charge of international brands like Cartier or VCA and their subcontractors...

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Vallabhbhai Shamjibhai Patel tells about the ongoing construction of the Surat Diamond Bourse

The under-construction Surat Diamond Bourse (SDB) is India's second diamond trading hub based at Surat, Gujarat, spread across 35.54 acres with more than 4,000 offices for national & international traders. On the onset, the project which...

18 june 2018

The strategy of regulating the Russian jewellery industry

At the General Meeting of the Russian Jewellers Guild Association held in April, two principally important documents were adopted: The Strategy of Regulating the Jewellery Industry of Russia and The Charter of a Good Faith Taxpayer. Besides, the issues...

13 june 2018

Our first priority is to better understand artisanal and small-scale mining - Elodie Daguzan

The Diamond Development Initiative (DDI), the organization dealing with the traditional diamond mining, recently announced the appointment of Élodie Daguzan as its first Goodwill Ambassador. Ms. Daguzan, who currently works as head of communication...

04 june 2018

Zimnisky on De Beers’ Lightbox: It’s a strategic, bold move that will benefit the entire natural diamond industry

De Beers shocked all and sundry end of May when it announced the launch of a new company called Lightbox Jewelry, which will market a new brand of laboratory-grown diamond jewellery in September. This effectively meant that the group had departed from...

01 june 2018

Stornoway earns $48M from diamond sales during Q3

13 november 2017
Stornoway Diamond Corporation has announced that its diamond sales in the third quarter of 2017 amounted to $48.1 million, or 405,643 carats sold.
The average diamond prices achieved were $95 (CAD$119) per carat compared to $87 per carat in the second quarter and $81 in the first quarter.
The company also said it has produced 442,154 carats of diamonds at 87 carats per hundred tonnes during the period under review from its wholly-owned Renard project in Canada. Operating costs at the project amounted to CAD$66.39 per carat.
"Strong production results in the third quarter were matched by continued good performance in cost management. Our average operating cost of CAD$66.39 per carat compares favourably with an average sales price of CAD$119 per carat, with a beat on carats produced and grade over our mine plan. This strong underlying operating result in our business is being achieved even as we continue our work to improve the quality of our diamond recoveries," said Matt Manson, Stornoway president and CEO.
"Our pricing at sale is increasing quarter by quarter, although a correction at the end of the third quarter served to slow the rate of increase, and we foresee a flat outlook for the rest of the year.”
At quarter end, cash, cash equivalents and short-term investments of Stornoway stood at $52.6 million.

Theodor Lisovoy, Rough&Polished, Moscow

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