Diamonds: A cocktail of optimism, pessimism in the midst of Covid-19 pandemic

Rough & Polished’s Mathew Nyaungwa recently attended a webinar organised by CIBJO Communications to examine consumer demand at the time of the Covid-19 pandemic, importance of data, financial models and lab grown diamonds. The webinar, chaired by Edward...

10 august 2020

How Russkiye Samotsvety is coping with the current downturn

One of the key issues facing most Russian companies today is the need for an objective assessment of the new consumption decline due to the quarantine, as well as making forecasts for a way out of it. According to a RBC-Petersburg’s study made in June...

03 august 2020

Global rough diamond sales down 80-90% in value in Q2 –Zimnisky

The COVID-19 pandemic, which is spreading across the globe, having originated from China’s Wuhan has left diamond traders and buyers at sixes and sevens. Traditional diamond tenders were cancelled around March as governments imposed travel restrictions...

27 july 2020

Indian diamond and polishing industry requires forward integration - Dinesh Navadiya

Dinesh Navadiya is now the Regional Chairman (Gujarat Region) of The Gems & Jewellery Export Promotion Council (GJEPC) of India for the 3rd term. He is also the Director on the Board of the Gem & Jewellery Skill Council of India (GJSCI)...

20 july 2020

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

Lucapa successfully cuts, polishes first diamond

14 january 2020

lucapa_logo.pngLucapa Diamond has successfully cut and polished its first diamond, marking a milestone for the company’s move along the diamond value chain.
A 36 carat rough diamond from the company’s 70%-owned Mothae kimberlite mine, in Lesotho was manufactured into six polished D-colour diamonds under a cutting and polishing partnership with an unnamed “leading” international diamantaire.
Lucapa said under the partnership agreements, net profits from the sale of the polished diamonds are shared equally with the diamantaire. 
“The exceptional diamonds manufactured under our first profit-sharing cutting and polishing partnership represent another milestone for Lucapa’s growth as a global diamond group as we progress along the diamond value chain,” said Lucapa managing director Stephen Wetherall. 
“This strategy was implemented to maximise the rough value of our diamond production from our Mothae and Lulo mines and to access additional revenues streams for Lucapa and our mining partners into the future.”  

news_14012020_lucapa.png
Image credit: Lucapa

The two largest polished diamonds produced from the 36 carat Mothae stone were both graded as D-colour and Flawless by the Gemological Institute of America, including the exceptional 8.88 carat Pear diamond. 
Meanwhile, Lucapa said it will soon announce the first results from the cutting and polishing of Lulo production.

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