Indian gem and jewellery manufacturers have the skill and capabilities to cater to any market in the world

Besides spearheading the “White Paper” last year, Colin Shah, Vice Chairman of the Gem & Jewellery Export Promotion Council (GJEPC) has been actively involved in the initiatives of the Council like MyKYCBank and many more… A first generation...

11 february 2019

The Indian gems and jewellery industry was progressing in the past and will certainly progress in the future

Dinesh Navadiya, the Regional Chairman (Gujarat Region) of The Gems & Jewellery Export Promotion Council (GJEPC) of India, is also the representative of the Gujarat G&J sector at various organisations as well as government authorities...

04 february 2019

The Russian Diamond Line: We do not believe that gifted persons would win through on their own

The Russian Diamond Line, a Moscow international jewellery contest of jewellery design, has been held for a decade already. At the end of the year, the results of the jubilee RDL-2018 contest were summed up, and on December 14, the prizewinners of the...

28 january 2019

New lending will have to be fully asset-backed with true provenance and transparency in the flow of goods and monies

After handling Gem & Jewellery (G&J) industry financing as a banker for many years, Erik A Jens sees an opportunity now that numerous banks are withdrawing from the sector. He is exploring opportunities to establishing a financing firm focusing...

21 january 2019

The majority of women don’t care whether their diamonds are mined or lab grown - Alex Popov, CEO of Âme

Alex Popov, President of the Moscow Diamond Bourse and former Chairman of the World Diamond Mark Foundation (WDMF) launched a new jewelry brand under the name of Âme focused on design and using lab grown diamonds to produce jewelry meant to meet...

14 january 2019

Stornoway Diamonds stabilises production in Q4

21 january 2019

stornoway-logo.pngDiamond production of Stornoway Diamonds has stabilised in Q4 after boosting the underground operations at the Renard Diamond Mine in Canada. This might help the company to lift its production guidance 2019, says
According to the report, the production, sales and company’s income  showed a significant decrease compared to the same period in 2017, however, there was an increase in the average price per carat by 24% disregarding the slow down of the market in the second half of 2018.
The Renard’s production in the 2018 FY went down by 21% from 1.64 million carats to 1.3 million carats while the volume of sales decreased by 41% from 1.7 million carats to 1 million carats thus leading to the decline of total income by 24% from C$186 million ($140 million) to C$140.7 million ($106 million) though the average price per carat went up to $105 from $85 in 2017. The price wasn’t influenced by the law rates in Q4 when it dropped to $92 per carat. Such results reflect the uncertain situation on the market at the moment, says the agency. 
The Diamond Loupe quoted Stornoway Diamonds as saying that such problems were due to a weaker rupee, the lack of available credits for Indian diamantaires and seasonal fluctuations caused by long-lasting Indian and Jewish holidays in Q3 and Q4. 
It is noted that Stornoway’s production performance in Q4 went back to the level of 2017. The company produced 485,616 carats of diamonds against 453,646 carats for the same period in 2017. In 2018 Stornaway’s outlook amounted to 1.32 billion carats after processing 2.33 million tonnes of ore with the grade of 57 cpht. The volume of diamonds mined turned out to be lower than the minimum of the reviewed guidance. In 2019 the company intends to produce between 1.80 million carats to 2.10 million carats after processing 2.40 million to 2.55 million tonnes of ore. It is planned that the company will hold 8 tenders in Antwerp during the year to sell 1.80 million to 2.10 million carats for the average price per carat yielding $80-105. 

Alex Shishlo, Editor in Chief of the European Bureau, Rough&Polished, Brussels