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

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