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

Firestone Diamonds loss widens to $4.6m, to start production at Lesotho mine in Q4

18 march 2016
Firestone Diamonds has recorded a loss of $4.6 million in the first half of the fiscal year 2016, an increase from a $4.4 million loss realised, a year earlier.  
The company was currently in the process of developing the Liqhobong Mine in Lesotho to become a 1-million carat per annum producer.
Its loss before finance charges and income tax of $2.1 million was lower compared to the prior year's loss of $2.3 million for the same period.
Meanwhile, Firestone said that it was still on track for initial production in the fourth quarter of the year.
The project was also within the original $185.4 million budget due to the depreciation of the South African Rand against the US Dollar.
“The six months to 31 December 2015 saw substantial development at Liqhobong and importantly, we have continued this into 2016. Accordingly, the Project remains on budget and on target to achieve first production during Q4 2016,” said company chief executive Stuart Brown.
He said Firestone completed a new Mine Plan and Project economics in October 2015, which further de-risked the project and enhanced its economics.
Meanwhile, Firestone said that and the BK11 mine in Botswana remains on care and maintenance following its conditional disposal to Tango Mining.

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