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 revenue up 13pc to $193.1mln as profit almost doubles

29 september 2016
Gemfields, which has operations in Zambia and Mozambique, said its revenues for the year ended 30 June 2016 rose 13 percent to $193.1 million from $171.4 million, a year earlier.
The company’s net profit almost doubled to $23.5 million from last year’s $12.3 million.
"This financial year has seen Gemfields consolidate its position as an industry leader. The Company has achieved record operational progress which has translated into strong financial results for the group,” said company chief executive Ian Harebottle.
“Over the past five years, Gemfields revenue has increased 380 percent and total revenue generated since the Company's first auction in 2008 has reached $717.6 million, an impressive achievement given the challenges faced by the mining and luxury goods industries.”
Meanwhile, output from the company’s flagship Kagem emerald mine, in Zambia, was steady at 30 million carats, which were mined at rock handling cost of U$2.48 per tonne, down from $2.90.
A recent resource update estimated Kagem to be host to a “measured, indicated and inferred” 1.8bn carats of emerald and beryl worth a “net present” $520 million, said Harebottle.
Gemfields produced 10.3 million carats of rough ruby and corundum at Montepuez in Mozambique during the period under review compared with 8.4 million carats, a year earlier.
Meanwhile, Gemfields said a drilling team had been put in place to work on the Dogogo South Block in Ethiopia, while it also expanded the size of its team in Colombia.
Both were new emerald projects.

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