GOLDNET.MARKET - “We want and are working to provide business with the opportunity to develop a lot of activity areas”

Today, almost all jewellery companies have their own wholesale websites, online stores, and social media pages. But a year ago, GOLDNET.MARKET, the first jewellery wholesale marketplace appeared in Russia, a new effective tool for the jewellery market...

20 september 2021

Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

Alex Popov, President of the Moscow Diamond Exchange and head of the Âme jewelry brand, which uses lab-grown diamonds to produce jewelry, sat for an interview with Rough&Polished sharing his views on the coexistence of natural and man-made diamonds in...

23 august 2021

Gemfields H1 revenue down 9%; profits drop 65%

01 march 2016
Releasing its Interim Report and Financial Statements, Coloured gemstone miner Gemfields has reported a 9% drop in revenue for the six months ending Dec 31, 2015 (first half of the financial year) and a major 65% fall in profits.
For the six months ending December, the company reported a revenue of US$94 million as against US$103.4 million for same period in 2014. A 42% drop in EBITDA to US$35.6 million was recorded compared to US$61.7 million in 2014; and net profit too showed heavy drop to US$8.2 million compared to US$23.2 million for the same period in 2014.
This low performance was attributed to “a more equally planned auction mix between the first and second halves of the 2016 financial year when compared to the 2015 financial year wherein a significant part of the revenue (and margin) was achieved in the first half”.
"The company had carried out three auctions during the period…one rough emerald and beryl auction of higher quality goods and one of lower quality emerald and beryl, and a rough ruby and corundum of lower quality compared to a higher quality rough ruby auction held in the comparative prior period," – the company said.
Gemfields produced 15.7 million carats of emerald and beryl at its 75% owned Kagem mine in the six months to December compared to 12.1 million carats in H2 of 2014 with an average grade of 254 carats per tonne. Ruby and corundum production at the Montezpuez mine amounted to 2.1 million carats with an average grade of 15 carats per tonne against 6.3 million carats in H2 2014.
The lower grade but significantly higher value alluvial ore resources mined in this period delivered a 341% increase in overall volume of higher quality rubies recovered.
Wholly owned Fabergé Ltd saw the value of realised sales during the period increase by 70% when compared with the same period in 2014.
Gemfields noted that the coloured gemstone market continued to expand in the second half of the 2015 calendar year and retained its production forecast of 25 to 30 million carats for rough emerald and beryl, and 8 million carats of ruby and corundum for the 2016 financial year.

Aruna Gaitonde, Editor-in-Chief of Asian Bureau, Rough & Polished