GJEPC will focus on demand generation for diamonds and jewellery in the next two years

Mr. Vipul P Shah, Vice Chairman, GJEPC and also CEO & Managing Director of Asian Star Co. Ltd. has a rich experience in the diamond industry. His business acumen and professional conduct have contributed significantly in transforming a diamond manufacturing...

13 july 2020

The need for significant capital investments will be the main trend in the diamond mining industry in 2021-2030

The prospects of the diamond industry in the post-crisis period are discussed by the Rough&Polished correspondent with Sergey Mityukhin, Candidate of Geological and Mineralogical Sciences, Honored Geologist of the Russian Federation.

06 july 2020

Young Diamantaires: We create initiatives for the benefit of diamond communities worldwide

The World Federation of Diamond Bourses recently launched its Young Diamantaires website. The organization has worked for the past four years with young members of the diamond community all over the world to create a platform through which they can express...

29 june 2020

Those who implement the right anti-crisis strategies have more chances

It is not surprising that because of the pandemic and the crisis, the most heated debate in the jewellery industry is about what is happening and the possible ways of survival. Irina Slesareva, an expert, art director of the Russian Diamond Line contest...

22 june 2020

The secondary diamond market in Russia is not mature although its prospects are huge

Pavel Barannik, the founder and head of the Moscow Gemological Laboratory, the founder of the Gemological Institute and President of the Moscow Diamond Club, graduated from the Gemological Institute of America (GIA). He is an expert and consultant...

15 june 2020

Lucara conducts diamond tender in Antwerp

18 june 2020
Image credit: Lucara Diamond

Lucara Diamond is currently conducting an auction of its diamonds from the Karowe mine, in Botswana, according to a notice by the Bonas Group.
The auction, which is taking place in Antwerp, Belgium closes today (18 June).
The company announced last month that the government of Botswana had temporarily granted it permission to conduct sales in Antwerp.
It then rescheduled its second quarter tender which was originally scheduled to close mid-May in Gaborone to Antwerp.
Despite the challenges presented by the COVID-19 pandemic, the Karowe Mine continues to operate at full production levels, with social distancing and other critical health and safety measures designed to limit the spread of the virus being observed.
The global travel restrictions put in place to curb the spreading of Covid-19, has seriously affected diamond sales.
However, major diamond trading centres such as Antwerp and Dubai have since opened their trading floors.
Lucara realised revenue of $34.1 million from the sale of 86,178 carats in the first quarter of 2020, which was 10% lower compared to 95,053 carats sold for $48.7 million carats or $512 per carat, a year earlier. 
The decrease in the average price per carat sold and in total revenue achieved in the first quarter of 2020 was due to a combination of variability in quality of the stones available for sale along with lower achieved prices similar to those realised in mid-2019.  

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