The diamond business is yet bright and has a good future in the coming days

Hitesh Patel, Managing Director of Dharmanandan Diamonds Pvt. Ltd., joined the family business in 1997 to help his father Laljibhai Patel, the founder of Dharmanandan Diamonds Pvt. Ltd. Egged on by its success, Hitesh set up the overseas presence of...

19 august 2019

The talk around LGDs is all hype

As a teenager, Luca Luterbacher began to design and manufacture single pieces and individual items for wealthy private family friends from Switzerland and Lichtenstein. In 2017, he finally invested in his own luxury trademark "Luterbacher."...

12 august 2019

Correct adjustment of advertising is the major challenge

At the recent Amberforum held in the Baltic city of Svetlogorsk, Andrey Yanchevsky, Head of the trade representation of the LA VIVION jewelery company shared his opinion with the correspondent of Rough&Polished on the state and prospects of the jewellery...

05 august 2019

Small-scale diamond mining is the future in Botswana – Leon Daniels

Pangolin Diamonds, which is currently the most active diamond exploration company in Botswana, has called upon authorities in the southern African country to include diamonds into the minerals permit for small scale mining operations. Pangolin chief...

29 july 2019

“There has been a strict policy in Israel against LGDs; have been forbidden on IDE trading floor for years.”: Aviel Elia, Managing Director- IDI

Aviel Elia, an attorney by profession, has served as Legal Adviser and Company Secretary of IDI since 2013. As a key member of the Israel Diamond Institute (IDI) management team, he has been involved in developing company strategy and negotiating...

22 july 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