De Beers’ GemFair delivering ‘positive impacts’ to ASM sector in Sierra Leone – David Johnson

GemFair, a pilot project developed by De Beers to create a secure and transparent route to market ethically sourced artisanal and small-scale mined (ASM) diamonds, is already delivering “important positive impacts” in Sierra Leone. Group head...

11 november 2019

Belgian-quality diamond boiling in Dubai from TRIGEM

Born in New York, David Zabinsky is CEO & Co-Founder of TRIGEM, an independent diamond service provider in Dubai. Before TRIGEM, David was Manager at Ras Al Khaimah Economic Zone, where he was responsible for securing North and South American investment...

05 november 2019

Pavel Shelkov: "Our project is an attempt to fit Russia into the global trend and create a new private company in the diamond industry"

At the end of September, Moscow hosted the Second Annual Conference, "Gold and Diamond Mining Companies of Russia and Europe." The audience showed great interest to the presentation made by diamond geologist Pavel Shelkov of Almazy Zapolyarya...

28 october 2019

The team that turns sleeping stones into beautiful polished diamonds

Maxim Zemlyakov is the Director General of ADMS OOO, a company cutting and polishing natural and synthetic diamonds in Oryol. He has been the Director General of Oryol-ALROSA since 2007. Before heading it, he worked as a grinder, cutter, instructor...

21 october 2019

Demand will pick up once the season starts

N Anantha Padmanaban took charge as the Chairman of the All India Gem & Jewellery Domestic Council (GJC) in January 2019. He has immense hopes and confidence in the Indian jewellery sector. His motto is to ‘ensure that after the day’s business...

14 october 2019

Gem Diamonds lowers sales outlook, renews Letšeng mine lease

07 november 2019

gem_diamonds_logo.pngGem Diamonds, which owns the Letšeng mine in Lesotho, has reduced its outlook on diamond sales due to the lower contribution from the higher-grade Satellite pipe.
It is now expecting to sell between 111, 000 and 113, 000 carats in 2019 from the previous guidance of between 115,000 and 119,000 carats.
Gem Diamonds said the overall impact on carats recovered for the year remain unchanged between 114 000 and 118 000 carats.
The company said it sold 25,631 carats during the third quarter ending September 30, down 10% from 28,379 carats in the second quarter.
Its diamond prices eased by 6% to $1,417 per carat from the previous $1,501.
"Prices for smaller and commercial type goods remain under pressure with polished inventory levels remaining high," it said.
"Larger high-quality diamonds have also experienced some price pressures in 2019, contributing to the lower prices achieved during the period."
Production from Letseng was up 1% to 27,539 carats in the third quarter from 27,210 carats in second quarter. 
Meanwhile, Gem Diamonds said it has renewed the lease for its 70%-owned Letseng mine with the government of Lesotho for a further 10 years.

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