Part 2: KPCSC wants Russia to help end impasse on new definition of conflict diamonds

In the first installment of this two-part exclusive interview with Shamiso Mtisi, the coordinator of the Kimberley Process Civil Society Coalition (KPCSC), we focused on illegal diamond mining in the continent and where the contraband ends up...

25 october 2021

Part 1: KPCSC gives insight into illegal diamond mining, trading in Africa

Although the diamond watchdog Kimberley Process (KP) prides itself for significantly reducing the flow of conflict goods since its establishment in 2003, the Kimberley Process Civil Society Coalition (KPCSC) alleged that illegal diamond...

18 october 2021

The jewelry industry in Russia needs to be upgraded in a serious way

Dina Nasyrova is a vice-president of the International Jewelry Exhibition-Congress J-1 recently hosted by the Atrium of Gostiny Dvor in Moscow. As a partner and the Muse of the famous jeweler Ilgiz Fazulzyanov, she actively participated in the preparation...

11 october 2021

Smiling Rocks, a philanthropic business model, inspires companies to work for betterment of the world

Zulu Ghevriya, the CEO and Co-Founder of Smiling Rocks, Founder of Vedantti Jewellery and Managing Director of Prism Group has been in the diamond and jewellery industry for over 20 years. Zulu started his business, Prism Group, as a natural diamond...

04 october 2021

Work hard and you will find success

Eduard Utkin, Director General of the “Jewellers’ Guild of Russia” Association, expert of the RF Chamber of Commerce and Industry’s Committee on Precious Metals and Precious Stones, told R&P about implementing the SIIS PMPS (State Integrated Information...

27 september 2021

Petra H1 revenue down 6% as production goes up 3%

27 january 2020

petra_diamonds_logo.pngPetra Diamonds’ first half revenue for the fiscal year 2020 dropped 6% to $193.9 million from 1,743,807 carats sold compared to $207.1 million realised from 1,736,357 carats sold, a year earlier.
The decline was attributed to lower diamond prices and the previously reported adverse product mix at Finsch, in South Africa and Williamson, in Tanzania, partially offset by the sale of the exceptional blue diamond from Cullinan, also in South Africa,
Petra said revenue for the first half included $14.9 million for the sale of the exceptional 20.08 carat Type IIb blue diamond from Cullinan.
Meanwhile, the diamond company said its first half output rose 3% to about 2,1 million carats compared with 2,0 million carats, the previous year. 
The company said its proactive management coupled with the implementation of “Project 2022” saw operations exceeding production plans during the second quarter, despite disruptions relating to Eskom load shedding in December at its South African mines.
"I am very pleased with the progress made in implementing Project 2022 across our operations and at corporate level,” said Petra chief executive Richard Duffy.
“The buy in to this project from all of our Petra employees and contractors has supported the strong operational performance across all sites, resulting in us achieving our highest level of ROM tonnes mined and carats recovered over the last six months, and has positioned us to meet or exceed full year guidance.”
Petra is currently on track to meet or exceed FY 2020 production guidance of about 3.8 million carats.
The company said although the 2019 calendar year was very challenging for the rough diamond market, stability in pricing was registered as the year closed.
It said demand has continued to improve as the midstream looks to replenish inventory after robust holiday season retail sales. 

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