Diamonds: A cocktail of optimism, pessimism in the midst of Covid-19 pandemic

Rough & Polished’s Mathew Nyaungwa recently attended a webinar organised by CIBJO Communications to examine consumer demand at the time of the Covid-19 pandemic, importance of data, financial models and lab grown diamonds. The webinar, chaired by Edward...

10 august 2020

How Russkiye Samotsvety is coping with the current downturn

One of the key issues facing most Russian companies today is the need for an objective assessment of the new consumption decline due to the quarantine, as well as making forecasts for a way out of it. According to a RBC-Petersburg’s study made in June...

03 august 2020

Global rough diamond sales down 80-90% in value in Q2 –Zimnisky

The COVID-19 pandemic, which is spreading across the globe, having originated from China’s Wuhan has left diamond traders and buyers at sixes and sevens. Traditional diamond tenders were cancelled around March as governments imposed travel restrictions...

27 july 2020

Indian diamond and polishing industry requires forward integration - Dinesh Navadiya

Dinesh Navadiya is now the Regional Chairman (Gujarat Region) of The Gems & Jewellery Export Promotion Council (GJEPC) of India for the 3rd term. He is also the Director on the Board of the Gem & Jewellery Skill Council of India (GJSCI)...

20 july 2020

GJEPC will focus on demand generation for diamonds and jewellery in the next two years

Mr. Vipul P Shah, Vice Chairman, GJEPC and also CEO & Managing Director of Asian Star Co. Ltd. has a rich experience in the diamond industry. His business acumen and professional conduct have contributed significantly in transforming a diamond manufacturing...

13 july 2020

Lucapa’s Lulo targets 30k ct in 2020 as it moves to flood plain blocks

10 september 2019

news_02072018_lucapa.pngLucapa Diamond is projecting output at its 40%-owned Lulo mine, in Angola to improve in the second half of the year following the move to flood plain blocks which are expected to produce average grades much higher than those achieved during the first half.
Lulo’s first half production totalled 7,236 carats and included 216 +4.8 carat stones.
Lucapa said in a presentation delivered last week at Africa Down Under Conference that it is targeting an annualised increase to 30 000 carats in 2020.
Production volumes will be boosted by the arrival of a new fleet of Volvo and Caterpillar earthmoving equipment, comprising six excavators, eight trucks and three bulldozers.
The new fleet, it said, is part of the Sociedade Mineira Do Lulo (SML)-funded $12 million expansion of alluvial mining operations.
SML held a 3,147 carat diamond inventory at the end of the June half, which included the 46 carat pink held over from sale earlier in the year.

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