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...

Today

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

Gem Diamonds Q1 revenue, output slump as Covid-19 wreak havoc

22 april 2020

Gem Diamonds’ first quarter revenue for the year 2020 eased 8% to $47.3 million compared with $51.3 million realised in the fourth quarter of 2019.
The diamond junior said that average price achieved for the period was down 6% to $1 615 per carat from the previous quarter’s $1 713 per carat.
It said prices for Letšeng's diamonds were negatively impacted in March due to the global Covid-19 pandemic.
The company sold 29 298 carats during the first quarter compared to 29 945 carats in the fourth quarter of 2019. 

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Image credit: Gem Diamonds


At least 11 diamonds were sold for more than $1 million each during the period, generating revenue of $20.7 million. 
“Letšeng's mining progressed well during the period and we are confident that the mine will be able to rapidly ramp-up to full production once the lock-down period is lifted and it is safe for all our employees and contractors to return to site,” said Gem chief executive Clifford Elphick.
Meanwhile, production at Letšeng dropped 12% to 26 110 carats in the first quarter from the previous quarter’s 29 768 carats.
Mining and treatment volumes were impacted during the period primarily by drill rig availability issues, testing of different blasting parameters, additional maintenance to the tertiary cone crusher and scrubber drive-arrangement in plant 2.
Mining and treatment volumes were also impacted as a result of the lockdown and the placing of the mine temporarily on care and maintenance which commenced on 28 March 2020.

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