“Up till now 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...

Today

Unifying role is the main objective of the National Gemological Association

Yuri Shelementiev runs the Gemological Centre (GC) at the Moscow State University and is a president of the National Gemological Association (NGA) uniting the gemologists of Russia. The head of the MSU’ GC and the NGA answered the R&P’s...

15 july 2019

“Our goal is to bring clarity to the offering of Lab Grown Diamonds”, asserts Chris Casey, President, Lab Grown Diamond Council

Chris Casey is a 15-year veteran of the diamond and jewelry industry.  Chris also has extensive experience in market research as Founding Managing Director of the NPD Diamond and Diamond Jewelry Service where his responsibility included the...

08 july 2019

Dr. Michael S. Krzemnicki: Our dedication to scientific research is an important foundation to our expertise

Dr. Michael S. Krzemnicki, PhD, Director of the Swiss Gemmological Institute SSEF, in an interview with R&P told about the activities and plans of one of the world's leading Gemological laboratories specializing in scientific research of diamonds...

01 july 2019

“Lab-Grown Diamonds is probably the biggest scam this industry has ever seen,”: Leibish Polnauer, Founder-President, Leibish & Co.

An interesting story from the Leibish & Co takes you way back to the year 1979 when young Leibish Polnauer, then a diamond polisher, was travelling to London, having just found out that the factory at which he worked had been shut down. He found an advertisement...

24 june 2019

Petra on a roll, recovers another big stone at Cullinan

19 april 2019

Petra Diamonds has recovered a 209.9 carat D colour Type II gem quality diamond at its Cullinan diamond mine, in South Africa.
This was the third +100 carat Type II D colour gem quality diamond recovered from the mine since last month and the fourth such stone in the current financial year. 

news_19042019_cullinan.png
   Image credit: Petra Diamonds


“[The] recovery again demonstrates the prevalence of these types of stones in the Cullinan orebody, with an improved incidence of large and high-value stones as the C-Cut Phase 1 block cave progresses across the footprint, and the ability of the mine’s plant to recover the full spectrum of diamonds,” said Petra.
The stone was expected to be sold during the fourth quarter ending 30 June 2019.
Meanwhile, Petra said that ‘The Legacy’, a 425 carat D colour Type II A diamond recovered from the Cullinan mine on 29 March, would be offered for sale during the course of the company’s next sales cycle in South Africa.
Petra had been desperate to recover big stones to boost its revenues and pay a swelling debt. 
Debts from the Cullinan mine were said to be around 65% of Petra’s overall $650 million in borrowing. 
The miner borrowed heavily to revamp the mine and began mining a new section of ore last July.   

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished