How Russkiye Samotsvety is coping with the current downturn

One of the key issues facing most Russian companies today is the need for an objective assessment of the new consumption decline due to the quarantine, as well as making forecasts for a way out of it. According to a RBC-Petersburg’s study made in June...

Today

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

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

Covid-19 pandemic slows Lucapa Q2 output in Angola

10 july 2020
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Image credit: Lucapa Diamond

Lucapa Diamond’s second quarter output at its 40%-owned Lulo alluvial project, in Angola eased 24% to 2,944 carats compared to 3,868 carats, a year earlier.
The carats recovered during the quarter were impacted by the State of Emergency implemented in Angola as a result of the COVID-19 pandemic.
It said the diamond recoveries during the quarter under consideration included 86 diamonds +4.8 carats.
The largest diamond recovered during the quarter was a 171-carat gem-quality stone recovered from Mining Block 06, making it the 15th +100 carat diamond recovered to date.
“A much improved third quarter is expected as Lulo ramped back to full production capacity at the end of the quarter,” it said.
Lucapa also said that Mothae remained on care and maintenance for the whole quarter due to the ongoing impact of the COVID-19 pandemic on the operation.
Meanwhile, the diamond junior said Lulo sold 3,346 carats of diamonds during the quarter for gross revenues of $2 million, achieving an average price per carat of $594 per carat.
The diamonds, it said, were sold into the cutting and polishing partnership with Lulo’s preferred buyer. Total sales year to date totalled 6,164 carats for $9.8 million or $1,583 per carat.
Lucapa also sold 3,962 carats of Mothae diamonds into a cutting and polishing partnership during the quarter for gross sale proceeds of $2 million, representing an average price of $505 per carat.
Total sales year to date totalled 10,268 carats for $4.1m or $402 per carat.

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