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

Diamcor Q3 revenue leaps to $1,4 million

11 march 2020

Diamcor Mining realized $1,4 million in revenue from its Krone-Endora at Venetia project during the third quarter ended December 31, a slight increase when juxtaposed to $1,39 million, a year earlier.
“Sales increased during the current quarter when compared to the previous quarter despite limited processing volumes being achieved due to contract equipment reliability issues,” it said. “Extensive work during the quarter continued on further refinements to the project’s processing facilities by the new operational team, and on the replacement of previous contract equipment with new larger equipment from Caterpillar to enhance both reliability and processing volumes.”

                               Image credit: Diamcor

Diamcor realised a price per carat of $106, against an average price per carat of $194 in the same period in 2018. 
It said the significantly lower average dollar per carat recorded during the current period was expected and a direct result of the short-term processing of tailings material to support the evaluation efforts being undertaken by the project’s new operational team to improve plant and final recovery efficiencies.
“Despite this short-term reduction in the average dollar per carat achieved, the refinement efforts and processing of tailings were nearing completion by the end of the quarter, and the company expects the average dollar per carat to return to historical norms early in 2020,” said Diamcor.
“Additional increases in the average dollar per carat due to the number of larger gem quality rough diamonds recovered or rough diamond market pricing improvement, both remain relevant over the longer-term.”
Meanwhile, the company said the project had demonstrated significant potential with regard to rough diamond quality, as well as the recovery of larger diamonds in the 10.8 carat plus special category.
The recovery of all rough diamonds to date, were incidental to the ongoing commissioning and testing and trial mining exercises.

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