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

Firestone lifts Q2 grade to 25.4 cpht, but output drops to 225k ct

04 february 2019

firestone_diamonds_logo.pngFirestone Diamonds produced 224,947 carats in the second quarter of the company's 2019 financial year compared with the first quarter’s 240,733 carats.
The latest output resulted in a year-to-date total of 465,680 carats, which was on track with the company’s guidance of between 820,000 and 870,000 carats for the financial year 2019.
A higher grade of 25.4 cpht was also achieved during the quarter compared with the first quarter’s 23.8 cpht.
However, Firestone said that the grade was expected to decrease during the second half of the financial year as mining returns to the lower grade ore blocks in the northern part of the pit during the rainy season.
The company also sold 191,735 carats during the period under review, realising revenue of $13.9 million at an average value of $72 per carat.
"We had a reasonable second quarter, barring a scrubber failure sustained in November, ending the financial half year with all our production parameters on track to meet guidance by year end,” said Firestone chief executive Paul Bosma.
“The demand for the smaller, lower value stones deteriorated further during the quarter albeit that it stabilised at the December sale and remained at the same level for the January sale.”
He said the demand for larger, better quality stones remained strong.

Mathew Nyaungwa, Editor in Chief of the African Bureau, from Cape Town, South Africa, Rough&Polished