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

De Beers’ GemFair ropes in more than 160 Sierra Leone artisanal miners

De Beers inaugurated its GemFair pilot programme in Sierra Leone’s Kono District with 14-member mine sites in 2018 to create a secure route to market for ethically sourced artisanal and small-scale diamonds. GemFair programme manager Ruby Stocklin-Weinberg...

16 august 2021

Rockwell Q1 revenue up 41pc to C$12.1m

14 july 2016
Rockwell Diamonds said its rough diamond revenues leaped 41 percent to C$12.1 million during the first quarter of the fiscal year 2017.
The increase was attributed mainly to the contribution of new production from Remhoogte-Holsloot (RHC) where better mining and processing volumes were achieved during the quarter.
Beneficiation revenue was, however, down 56 percent to C$400 000 during the period under review from C$900 000 realised during the first quarter of the fiscal year 2016.
This brought the group’s total revenues for the period to C$12.5 million compared to C$9.2 million, a year earlier.
“Rockwell has begun fiscal 2017 with a significantly changed operational profile from just one year ago. Niewejaarskraal has been placed on care and maintenance, Tirisano sold, Remhoogte – Holsloot (RHC) acquired and, against most expectations, Saxendrift is still in production, albeit at a reduced rate and grade,” said chief executive James Campbell.
“Fiscal 2016 was a challenging time of change and restructuring. Our substantially improved results for the first quarter of fiscal 2017 reflect the benefit of the strategic interventions of late fiscal 2016.”
A profit of C$3.3 million was reported for the first quarter compared to a loss of C$3.1 million realized during the first quarter of the fiscal year 2016.
Campbell said production at RHC was “stabilising” after a difficult six months.
“We are encouraged by the steady progress on the re-commissioning of Wouterspan which should commence initial operational ramp-up in August, 2016. We are confident that our renewed MOR operational profile will enable us to process 350,000 m3 of gravel per month before the end of fiscal 2017.”
Meanwhile, Rockwell said the diamond market remained stable during the period under review after some price recovery in the open market at the beginning of the year.
“Secondary market demand has improved due to restocking by manufacturers, but concerns exist over a potential oversupply within the polished market once these goods reach polished inventories,” it said.
“Whilst polished prices have recovered a couple of percent during this quarter compared with January 2016, prices for goods sized 1ct and below are down 5 percent and 3ct polished prices are down 15 percent compared with Q1 2016.”

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