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Diamonds performing ‘a little bit better’ than most commodities – Deloitte analyst

Liquidity crunch and a sluggish Chinese economic growth, inter-alia, dampened the appetite for rough diamonds last year. Mining analyst and partner at Deloitte Tony Zoghby told Rough & Polished’s Mathew Nyaungwa that despite the depression, diamonds...

25 april 2016

“If consumers lose confidence in diamonds, both the products, natural and synthetic, will be badly hit,” warns Sanjay Kothari, Spokesperson NDMC

For a sector, which grew from just a cottage industry to one of the largest diamond manufacturing industry in the world, India’s diamond industry was, till not long ago, looked at globally with awe as an industry which operated purely on trust. Today...

18 april 2016

Valery Budny: "I really believe in Russian entrepreneurs"

Being a media holding in the field of jewelry and watch industry and trade, RESTEC JUNWEX combines such activities as holding exhibitions and conferences, publishing magazines, operating Internet resources and providing consulting services. It runs Russia’s...

11 april 2016

Ghanaian firm seeks to resuscitate Akwatia diamond mine

Great Consolidated Diamonds (GCD), formerly known as Ghana Consolidated Diamonds, is the West African country’s only commercial diamond company. It owns the Akwatia diamond mine, which produced more than 100-million carats of diamonds since the inception...

04 april 2016

We allowed things to go wrong at the beginning – Ex Zim Fin Minister on Marange diamond mining

When Zimbabwe discovered the vast Marange diamond fields in 2006, there was so much hope that the gems would bring economic relief as was the case in the neighbouring Botswana. However, what happened is no secret and President Robert Mugabe recently...

28 march 2016

Petra to produce 1.5m ct per year at newly-acquired Finsch Diamond mine

10 february 2011

Petra Diamonds, which recently acquired Finsch Diamond mine from De Beers, said it will produce 1.5 million carats annually.
Company chief executive Johan Dippenaar told the ongoing Mining Indaba in Cape Town that this was lower than the 2 million carats De Beers produced annually over the last five years.
He, however, said Petra would build production back towards 2 million carats over time, reaching 1.9m carats by 2019.
"It’s not a well known fact but Finsch has produced a number of large, special diamonds over its history and the recovery of significant large, high- value stones can substantially increase the total value of production in any one year,” he told delegates.
Dippenaar said on average, 27 diamonds larger than 50 carats had been recovered annually over the past four years at Finsch.

Mathew Nyaungwa, Rough&Polished, from Cape Town, South Africa

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