Academician Pokhilenko: The situation with rough diamonds in the Russian Federation will start changing for the worse as early as 2025

Nikolai Petrovich Pokhilenko, Academician of the Russian Academy of Sciences (RAS), Deputy Chairman of the Siberian Branch (SB) of the RAS, Scientific Director of the Institute of Geology and Mineralogy of the SB of the RAS, is a prominent...

11 january 2021

Ilgiz Fazulzyanov: For a creator, the quarantine is the time to work on future masterpieces

Ilgiz Fazulzyanov is a successful and internationally recognized jewellery designer. He received his academic art education in Kazan and moved to Moscow in the 1990s where he lives and works now. His brand, Ilgiz F., is well known among true connoisseurs...

04 january 2021

Botswana Diamonds keen to mine KX36 kimberlite if found commercial

Botswana Diamonds intends to mine the KX36 kimberlite, which it recently acquired from Petra Diamonds if found commercial. The high-grade KX36 kimberlite pipe is part of the three Prospecting Licenses in the Central Kalahari Game Reserve in Botswana...

28 december 2020

‘We expect to completely open the Bourse for business by Q1 of the Year 2022,’ assures Vallabhbhai Patel, Chairman, SDB

Vallabhbhai Patel, Chairman of the Surat Diamond Bourse, dreamed of building the world’s largest commercial building in Surat for the Indian diamond industry. He conceptualized the ‘Surat Diamond Bourse’ (SDB), which is set to redefine...

21 december 2020

An opportunity to show your products and occupy your niche

Recently, GOLDNET.MARKET, the first jewellery wholesale marketplace, appeared on the Russian jewellery market. Vladimir Pilyushin, one of the founders of GOLDNET.MARKET, editor-in-chief of the ‘Russkyi Yuvelir’ (Russian Jeweller) magazine...

14 december 2020

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