Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

Alex Popov, President of the Moscow Diamond Exchange and head of the Âme jewelry brand, which uses lab-grown diamonds to produce jewelry, sat for an interview with Rough&Polished sharing his views on the coexistence of natural and man-made diamonds in...

23 august 2021

De Beers’ GemFair ropes in more than 160 Sierra Leone artisanal miners

De Beers inaugurated its GemFair pilot programme in Sierra Leone’s Kono District with 14-member mine sites in 2018 to create a secure route to market for ethically sourced artisanal and small-scale diamonds. GemFair programme manager Ruby Stocklin-Weinberg...

16 august 2021

Stornoway announced 2Q 2019 production and sales results

12 july 2019

stornoway-logo.pngStornoway Diamond Corporation announced production and sales results at the Renard Diamond Mine for the quarter ended June 30, 2019. Second quarter diamond production was 463,136 carats recovered from the processing of 695,934 tonnes of ore at an average grade of 67 carats per hundred tonnes (“cpht”). Carats recoveries increased by 4% compared to the first quarter, mainly due to greater plant utilization. The average processing rate was 7,648 tonnes per day, above the budgeted rate of 7,000 tonnes per day.
460,832 total carats sold in two tender sales for gross proceeds of $47 million at an average price of US$76 per carat ($102 per carat). In terms of total carats sold, pricing and gross proceeds, this represents variations of +7%, -9% and -1% over the first quarter, respectively. Second quarter diamond sales represent diamonds recovered during the first quarter.
Patrick Godin, Second President and CEO of Stornoway, commented “During the second quarter, both mining and processing operations at Renard have demonstrated strong performance, with an average ore hauling rate of 6,813 tonnes per day from the underground mine, and an average processing rate well above the budgeted rate… The rough diamond market continues to be challenging, with further decreases in pricing observed during the second quarter sales. Nevertheless, the Corporation maintained comparable gross proceeds relative to the first quarter, as volume of carat sold increased.”

Alex Shishlo, Editor of the Rough&Polished European Bureau