GOLDNET.MARKET - “We want and are working to provide business with the opportunity to develop a lot of activity areas”

Today, almost all jewellery companies have their own wholesale websites, online stores, and social media pages. But a year ago, GOLDNET.MARKET, the first jewellery wholesale marketplace appeared in Russia, a new effective tool for the jewellery market...

20 september 2021

Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

Alex Popov, President of the Moscow Diamond Exchange and head of the Âme jewelry brand, which uses lab-grown diamonds to produce jewelry, sat for an interview with Rough&Polished sharing his views on the coexistence of natural and man-made diamonds in...

23 august 2021

Firestone revises production guidance

26 february 2020

firestone_diamonds_logo.pngFirestone Diamonds, which has a 75% stake in the Liqhobong mine, in Lesotho, has revised its production guidance for the fiscal year 2020 due to power disruption and a subsequent review of the mine plan.
The company said it is now expecting diamond recoveries of between 720 000 and 750 000 carats from the previous’ target of between 820 000 and 870 000 carats.
"The unexpected power disruption had a devastating impact on production and revenue generation,” said Firestone chief executive Paul Bosma.
“…due to the production setback and continued lacklustre market conditions, the board has decided that it is imperative that it does all it can to reduce costs in order to survive the prolonged downturn.”
This includes delisting from London’s AIM and reducing the size of the board.
Meanwhile, Firestone said its sales volumes decreased by 21% during the second quarter of the fiscal year due to the power disruption to 132 885 carats compared to 168 612 carats sold in the previous quarter. 
However, average diamond values of $73 per carat were higher than $63 per carat in the previous quarter due to a number of larger and better-quality diamonds that were recovered and sold including one plus 100 carat diamond and two plus 90 carat diamonds.

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