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

The need for significant capital investments will be the main trend in the diamond mining industry in 2021-2030

The prospects of the diamond industry in the post-crisis period are discussed by the Rough&Polished correspondent with Sergey Mityukhin, Candidate of Geological and Mineralogical Sciences, Honored Geologist of the Russian Federation.

06 july 2020

Young Diamantaires: We create initiatives for the benefit of diamond communities worldwide

The World Federation of Diamond Bourses recently launched its Young Diamantaires website. The organization has worked for the past four years with young members of the diamond community all over the world to create a platform through which they can express...

29 june 2020

Those who implement the right anti-crisis strategies have more chances

It is not surprising that because of the pandemic and the crisis, the most heated debate in the jewellery industry is about what is happening and the possible ways of survival. Irina Slesareva, an expert, art director of the Russian Diamond Line contest...

22 june 2020

The secondary diamond market in Russia is not mature although its prospects are huge

Pavel Barannik, the founder and head of the Moscow Gemological Laboratory, the founder of the Gemological Institute and President of the Moscow Diamond Club, graduated from the Gemological Institute of America (GIA). He is an expert and consultant...

15 june 2020

Lucapa upbeat despite global headwinds in the diamond sector

24 october 2019

news_02072018_lucapa.pngLucapa Diamond has achieved year to date to September sales of $38.2 million, with a further $10.4 million in sales already booked post quarter-end from its 70%-owned Mothae mine, in Lesotho and 40%-owned Lulo mine, in Angola against a backdrop of challenging global diamond market conditions.
It said total sales in 2019 were achieved at an overall average price of $1,249 per carat.
Year to date to September quarter output was 35,113 carats from both mines.
Mothae recovered 7,007 carats in the third financial quarter, which was 30% ahead of plan, while Sociedade Mineira Do Lulo (SML) produced 7,603 carats during the same quarter, a 67% increase over the previous corresponding period.
This was primarily due to an 88% increase in the recovered diamond grade of 10.5 carats per 100 cubic metres as more material was processed from the new higher-grade flood plain Mining Blocks 19 and 31.
“Our continued focus on operational and productivity improvements and reductions in operating costs at Mothae and Lulo have enabled Lucapa to deliver robust results, including record production of premium-quality diamonds, in the face of global headwinds in the diamond sector,” said company managing director Stephen Wetherall.
“The decline in global rough diamond demand throughout 2019 brought about by factors including macroeconomic uncertainty, rising inventories and liquidity issues in the midstream has impacted the revenues of all diamond producers and industry sentiment.”

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