An alliance between a diamond producer and a diamond manufacturer in Russia is simply inevitable and necessary

What is a diamond manufacturer’s margin composed of? What is the profession of diamond processing engineer about? How much time does it take to become a diamond cutter? How does a polishing factory work? The Russian Cut, is it alive? Lightbox from De...

15 october 2018

High technologies make it possible to create a product that can be obtained in natural stones only for very big money

Andrey Zharkov, having left the position of President at diamond mining company Alrosa, has established and headed the Ultra C company, which will be engaged in the production of diamonds from the reactor. In this interview with industry news agency...

08 october 2018

The once unorganised domestic jewellery sector in India is now growing

A veteran businessman, former Chairman of Gem & Jewellery Council (GJC), Bullion Expert, a third-generation jeweller born with a silver spoon (or was it gold?) in his mouth, a perpetual optimist … yes, the list could go on. As the first...

01 october 2018

India is poised to become a major fine jewellery market in the near future - Pramod Agrawal, Chairman GJEPC

Pramod Kumar Agrawal, the current Chairman of the Gem & Jewellery Export Promotion Council (GJEPC) of India is a successful entrepreneur in his own right. Despite belonging to a jewellery business family, with his father dealing in gemstones...

24 september 2018

Color diamonds are more valuable and desirable and a better investment

In 1993, Eyal Cohen started his career as a diamond cutter, sitting by his father’s side as an apprentice. 4 years later, he was recruited by a jewelry firm, where he learned to appreciate natural colored diamonds. In 2003, Eyal opened his own company...

17 september 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