Diamex Lab: Our technology allows you to trace the history of the origin of each stone

Gleb Sverdlov, CEO of Diamex Lab told Rough & Polished in his interview below about the development of IT technologies for the market of rough and polished diamonds and jewelry.

17 february 2020

The future of the market goes hand in hand with gemology

After 2019, a challenging year for the global diamond industry, we asked Yuri Shelementyev, head of the Moscow State University (MSU) Gemmological Center and president of the National Gemological Association (NGA), to share his views...

10 february 2020

Diamond industry in healthier position going into 2020

The diamond industry is in a healthier position going into 2020 due to actions taken last year, according to De Beers. Group spokesperson David Johnson told Rough & Polished’s Mathew Nyaungwa that the actions taken included reducing rough diamond production...

03 february 2020

Ethical sourcing and Diamonds Standards Organization

The diamond sector is ready to embrace a new decade and overcome some of its historical challenges. Ethical sourcing has proven to be undoubtedly one of the main aspects that industry professionals need to address. Antonio Cecere, President of Geneva...

27 january 2020

Ali Pastorini: Challenges make us think out of the box and be closer to customers

Ali Pastorini is the co-owner of DEL LIMA JEWERLY and President of Mujeres Brillantes, an association which brings together more than 1,000 women working in the gold and diamond trading sector, mainly from Latin America, as well as from Turkey, Spain...

20 january 2020

Rio Tinto’s diamond net earnings up in H1 2018; revenue drops

03 august 2018
The mining major Rio Tinto has posted overall positive results for the Group for its performance in the first half of 2018. So, the total returns to shareholders amounts to $ 7.2 bn: $ 3.2 bn from operations and $4.0 bn from asset disposals.
However, the Company’s diamond revenue for Q1 2018 was marginally lower at $323 mn as compared to $340 mn for H1 2017. But EBITDA for diamonds for the period rose to $132 mn from US $97 mn for the same period in the previous year; and net earnings were substantially higher for H1 2018, standing at $55 mn as compared to $19 mn for H1 2017.
Rio Tinto’s diamond production was nine per cent higher than in H1 2017 with higher carat production at Argyle. This was due to an increase in tonnes processed, following improved plant availability which offset the marginally lower production at Diavik due to lower recovered grades.
The development of the A21 project at Diavik is ahead of schedule with first ore uncovered in March and the mine is expected to be at full production capacity during the fourth quarter of 2018. Rio Tinto’s diamond production guidance for 2018 is between 17 and 20 mn carats.
J-S Jacques, Chief Executive of Rio Tinto, said, “We have reported another strong set of results with underlying EBITDA of $9.2 bn and operating cash flow of $5.2 bn. In a favourable market environment, our Tier 1 assets and strong operational capability have achieved a 43 per cent EBITDA margin. Inflationary pressures are being experienced across the industry, but we have been able to offset these through our mine-to-market productivity programme. As a result, we continue to deliver superior shareholder returns with a record interim dividend of $2.2 bn and a $1.0 bn top-up to our existing share buy-back programme. In addition, in 2018 we have announced $5.0 bn of divestments. The board has today approved that these disposal proceeds, net of tax, will be returned to our shareholders, with the precise timing and form to be determined.”

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