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03 august 2020

Global rough diamond sales down 80-90% in value in Q2 –Zimnisky

The COVID-19 pandemic, which is spreading across the globe, having originated from China’s Wuhan has left diamond traders and buyers at sixes and sevens. Traditional diamond tenders were cancelled around March as governments imposed travel restrictions...

27 july 2020

Indian diamond and polishing industry requires forward integration - Dinesh Navadiya

Dinesh Navadiya is now the Regional Chairman (Gujarat Region) of The Gems & Jewellery Export Promotion Council (GJEPC) of India for the 3rd term. He is also the Director on the Board of the Gem & Jewellery Skill Council of India (GJSCI)...

20 july 2020

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

Ekati mine expects to return to full operations in Q4 2020

29 june 2020
Main camp at the Ekati Diamond Mine                                                          Image credit: Dominion Diamond Mines

The Ekati Mine is set to resume full operations in the fourth quarter of 2020, as informed on 26 June by the major Canadian miner Dominion Diamond Mines to its employees.
Incidentally, Ekati was shut down in mid-March on health and safety grounds as the Covid-19 pandemic reached the territory. The two other active diamond mines, Diavik and Gahcho Kué, have continued to operate.
Pat Merrin, Dominion’s interim chief executive, said the financially troubled company expects its assets to be sold to its parent, The Washington Companies or a higher bidder, sometime between August and October this year. So far, Washington has made the only firm bid. 
“The sales process does not need to be completed for us to reopen the Ekati mine,” Merrin reportedly told staff, adding that a phased approach to reopening would be taken and restarting Ekati depended on three main factors: the ongoing process of selling Dominion, resumption of the global diamond market, and pandemic-related health and safety. “We anticipate returning to full operations in the fourth quarter of this year,” he predicted. 
About 400 furloughed employees were initially told to expect a return to work at Ekati in August, but this timeline had been pushed back.
According to the mining company, as reopening Ekati in the northern winter would be challenging, it is expected to reopen before the cold fully sets in. However, some employees may be permanently laid off due to the current fluid and dynamic situation, which makes it difficult to predict the future.

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished