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...

Yesterday

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 Q3 output weakens as revenue rise on strong demand for special stones

29 april 2019

firestone_diamonds_logo.pngFirestone Diamonds said output at its Liqhobong diamond mine, in Lesotho dropped 37% to 155,206 carats during the third quarter ended 31 March 2019 compared with 224,947 carats, recovered the previous quarter.
The diamonds were produced at a grade of 18.0 cpht compared with second quarter’s 25.4 cpht.
The company said most of the mining during the quarter took place in the lower grade northern part of the pit.
Firestone chief executive Paul Bosma said mining will return to the higher grade, southern part of the pit, during the final quarter of the year. 
“Waste stripping is accelerating according to plan and we achieved our highest ever monthly tonnes moved in March,” he said.
Meanwhile, the company sold 211,368 carats during the period under review from the previous 191,735 carats, realising revenue of $16.8 million at an average value of $80 per carat.
“Besides continued strong demand for our special stones it was also encouraging to see a modest increase in pricing for the smaller, lower value goods at the March sale,” said Bosma.

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