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

Gem Diamonds boosts 2018 output

07 february 2019

news_21062018_gem.pngGem Diamonds said output at its 70 percent-owned Letšeng mine, in Lesotho rose 13% to 126, 875 carats in 2018 compared with 111,811 carats, a year earlier.
Company chief executive Clifford Elphick said 2018 was unique as they recovered 15 diamonds greater than 100 carats, breaking a recorded registered in 2015 when it found 11 diamonds of the same size.
Production in 2018 also included a record number of diamonds greater than 20 carats recovered in a single year, he said.
Elphick said the revised mine plan resulted in a significant reduction in Letšeng's overall stripping ratio due to steeper slope angles, which was expected to result in a significantly improved net present value of the mine.
“Good progress has been made on the business transformation process which remains on track to achieve its cumulative 4-year target of $100 million, with already implemented initiatives expected to deliver $60 million over the 4-year target period," he said.
Gem said the highest diamond price achieved during the fourth quarter was $64, 067 per carat for a 4.06 carat, pink diamond, which was also the highest price per carat achieved in 2018. 
It said a strong pricing was achieved at the first tender of 2019, with an average price of $2 004 per carat.
This was due to an improved quality in production.

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