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

‘Petra’s 20.08-ct blue diamond could fetch $15 million’

15 october 2019

Petra Diamonds could earn up to $15 million for the 20.08-carat blue diamond it found last month at its Cullinan mine, in South Africa, according to a media report. 


                 Image credit: Petra

The miner is set to conduct a special tender of the exceptional stone from 8 to 15 November 2019 at the Diamond Exchange and Export Centre (DEEC) in Johannesburg.  
The rare stone is expected to boost the struggling company’s revenue. 
The group’s revenue for the year ended 30 June 2019 eased 6% to $463.6 million, which resulted in adjusted EBITDA margin declining to 33% against the previous year’s 39%. 
Its net debt at 30 June 2019 was $564.8 million compared with $520.7 million, a year earlier
“We expect this stone to fetch a good price — we are hoping for at least $13 million to $15 million — despite the rough market’s well-publicized travails,” Shore Capital’s Yuen Low was quoted as saying by 
“If this proves the case, it should provide a welcome, significant boost to [Petra’s fiscal-year] 2020 profits.”
Petra sold “The Blue Moon of Josephine”, a 29.6 carat blue stone, for $48.5 million, in 2015.

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