Diamond production in Surat begins in a phased manner

Diamond cutting units in Surat have been allowed greater flexibility to operate from 31 July Saturday on condition that they will adhere to a set of norms that include mandatory Covid-19 tests for traders and staff, as per media reports.

Today

De Beers H1 revenue more than halves as Covid-19 continues to wreak havoc

De Beers’ revenue dropped by 54% to $1.2 billion in the first half of 2020 compared with $2.6 billion, a year earlier, according to Anglo American.

Today

Lucapa’s Lulo earns $3.7m from latest tender

Lucapa Diamond has sold 2,625 carats from its 40%-owned Lulo alluvial diamond mine, in Angola for $3.7 million, representing an average price of $1,400 carat.

Today

Just Diamonds offers unique software to retailers

Just Diamonds, a Birmingham-based CMJ supplier of certified diamonds with unique buying software, has reported record results in its fourth year of trading driven by new customers, with turnover up 9.5 percent year-on-year in 2018/19.

Today

WGC releases Global Gold Demand Trends for Q2 and H1 2020

According to the World Gold Council’s Report released recently, the following are the highlights of the Gold Demand Trends for Q2 and H1 2020.

Today

Jilted by lockdown: Why marriage after global isolation is just what the diamond sector needs

30 july 2020

(miningmx.com) - The wedding economy is estimated to be worth $300bn annually with a host of industries, from travel and hospitality to the garment sector, hanging on to its finely-tailored coattails. Perhaps no industry is more desirous, therefore, of sweet nuptials than the jewellery sector – diamonds in particular. The last three years have been torrid for the global diamond sector. De Beers exemplified the rut: its 2019 profit of $558m was the lowest in a decade. A sales upturn in January suggested the beginning of the long-anticipated recovery, until COVID-19 sent consumers from high street into lockdown. Unpolished or rough diamond sales to the secondary sector, the cutters and polishers who like to inspect goods in person, was stopped in its tracks. Botswana, where De Beers convenes ten sales meetings a year with selected buyers, closed its borders. Other miners ran into similar travel bans as the pandemic tore through the world. Yet the forces that brought the diamond sector to a halt in March might yet provide the seeds of its recovery.