Vladimir Zboykov: New times have come for jewelers

How a personal collection of minerals was thrown on the scrap-heap, who is behind the destruction of gemstone consumption culture in Russia and why jewelers will soon have to choose between business and prison – all this was told to Rough & Polished...

Yesterday

Changing preconceptions in the diamond and financial markets

Eli Avidar is a man on the move…literally. In April, the former Israeli diplomat stepped away from the CEO’s office at the Israel Diamond Exchange, a position he had held for more than two years, and from the Israel Diamond Institute, where he had been...

13 august 2018

Chasing a dream…

Elina Chan, MD of Shenzhen Shi Qing Yu Zhubao Ltd completed her higher education from Xiamen University and Master’s degree from Hong Kong University. To achieve her dream to start a business, Elina gave up numerous job opportunities in Hong Kong and...

06 august 2018

Pangolin Diamonds using termites to find kimberlite indicators in Botswana

It is not a secret that the rate of kimberlite discovery in Botswana has dropped considerably and research has shown that termites can help diamond explorers have an understanding of the transport mechanism of kimberlite indicator minerals from the kimberlite...

30 july 2018

In another fifty years, we’ll have a different scale of valuation, and all those items of natural origin – including diamonds – will sharply increase in price

Within the framework of the Qatar-Russia 2018 Year of Culture, the World Diamond Museum hosts an exhibition of the Qatar Museums at the State Historical Museum in Moscow – "Pearls: Treasures of the Seas and the Rivers," that opened on 11 July...

24 july 2018

Lucara Diamond’s Q2 core earnings drop 36 pct to $36 mln

13 august 2018
news_18062018_lucara.pngLucara Diamond’s adjusted earnings before interest, tax, depreciation and amortization (EBITDA) eased 35.7 percent to $36.1 million in the second quarter of 2018 compared to $51.8 million, a year earlier, according to the company’s latest financial results.
It said the decreased EBITDA reflects lower revenues attributable to a smaller volume and lower average price of exceptional stones sold, as compared to the second quarter of 2017.
The company recorded revenues of $64.5 million for its two tenders in the quarter compared to $79.6 million, in the second quarter of 2017.
It also said lower revenues show natural variability in the number and quality of exceptional diamonds recovered in any quarter and the recent decision not to inventory exceptional diamonds over multiple production periods.
Lucara produced 81,507 carats in the second quarter from its Karowe mine in Botswana.
A total of 253 specials (single diamonds larger than 10.8 carats) were recovered during the period under consideration including 11 diamonds greater than 100 carats in weight.

Mathew Nyaungwa, Rough&Polished