High-tech trend is most promising for industries using diamonds

Synthesis Technology is a leading diamond producer in Russia. The company produces carbon single crystals - lab-grown diamonds and single-crystal wafers. The diamonds completely identical to natural ones are ‘grown’ at the laboratory using advanced HPHT...

25 february 2020

Diamex Lab: Our technology allows you to trace the history of the origin of each stone

Gleb Sverdlov, CEO of Diamex Lab told Rough & Polished in his interview below about the development of IT technologies for the market of rough and polished diamonds and jewelry.

17 february 2020

The future of the market goes hand in hand with gemology

After 2019, a challenging year for the global diamond industry, we asked Yuri Shelementyev, head of the Moscow State University (MSU) Gemmological Center and president of the National Gemological Association (NGA), to share his views...

10 february 2020

Diamond industry in healthier position going into 2020

The diamond industry is in a healthier position going into 2020 due to actions taken last year, according to De Beers. Group spokesperson David Johnson told Rough & Polished’s Mathew Nyaungwa that the actions taken included reducing rough diamond production...

03 february 2020

Ethical sourcing and Diamonds Standards Organization

The diamond sector is ready to embrace a new decade and overcome some of its historical challenges. Ethical sourcing has proven to be undoubtedly one of the main aspects that industry professionals need to address. Antonio Cecere, President of Geneva...

27 january 2020

Lucara incurs Q3 loss as smaller goods impact average price per carat

08 november 2019

lucara_news.pngLucara Diamond has recorded a net loss of $4.0 million for the nine months ended September 30, resulting in a $0.01 loss per share for the quarter.  
This compares to net income of $5.1 million for Q3 2018 and earnings per share of $0.01. 
An increase in operating expenses and depletion and amortization (a non-cash expense) had the most significant impact on the current quarter's results, it said.
Its third quarter revenue totalled $45.3 million or $390 per carat from the sale of 116,200 carats compared with the previous year’s $45.7 million or $450 per carat from the sale of 101,600 carats. 
It said better recoveries in smaller, lower value diamonds resulted in a 14% increase in the number of carats sold. 
“While still profitable, the smaller goods impact the average price per carat sold,” said Lucara. 
The company’s revenue for the nine months ended September 30 was $136.5 million from three tenders and sales through Clara compared to $135.6 million, a year earlier in which three regular stone tenders and one exceptional stone tender were held. 
It said total revenue in 2019 is expected to be at the lower end of guidance, between $170 million and $180 million.
Previous guidance was between $170 million and $200 million.
Total carats recovered and sold is expected to be between 400,000 and 425,000 carats for the year.

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