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

Johan Erikson: The industry needs to spend more on advertising and marketing

First Element is a fully independent Diamond Services Company registered in Belgium, Botswana, South Africa and Dubai. First Element is committed to providing a world class diamond service aimed at adding value to the entire supply chain, from the daily...

08 june 2020

African diamond firms on COVID-19 response, recent developments

Rough & Polished recently contacted several diamond producers and exploration companies with operations in Africa to establish how their operations were affected by the Covid-19 pandemic and what they are doing to alleviate the impact. We also sought...

01 june 2020

Diamcor Q2 revenue down on limited processing volumes

15 november 2019

news_10082018_diamcor.jpgDiamcor Mining has realised $560,059 in revenue from its Krone-Endora at Venetia project, in South Africa during the period ended September 30, 2019 compared to revenues of $726,846, realised during the same period in the prior fiscal year.
It said the decrease in sales during the current quarter was a result of limited processing volumes due to contract equipment reliability issues experienced early in the quarter, as well as the timing of rough diamond tenders during the period. 
“Extensive work during the later portion of the quarter was undertaken to further refine the project’s processing facilities, implement a new operational team, and on efforts to replace the existing contract equipment provider with new providers and larger equipment to enhance both reliability and processing volumes,” said Diamcor.
It realised a price per carat of $146 during the period under review, compared to an average price per carat of $278, recorded in the same period in 2018. 
The average dollar per carat during the current period was in line with company expectations due to continued weakness in various categories of rough diamonds.
Diamcor said the potential for increases in the average dollar per carat due to increases in the number of larger gem quality rough diamonds recovered, and rough diamond market pricing improvement moving forward, remain relevant as the project continues to demonstrate the potential of the deposit.

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