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...

Yesterday

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

Lucapa submits diamond marketing proposal to Lesotho

30 july 2020
Lucapa Diamond has submitted a diamond marketing proposal to the government of Lesotho who are 30% partners in the Mothae diamond mine.
Mothae is currently mothballed due to the ongoing impact of the COVID-19 pandemic and Lucapa seeks to restart operations at the mine as “soon as possible”.
The ASX-listed company said it believes that the proposal underpins the future of the Mothae diamond mine, especially in these uncertain times.
“The Mothae diamond mine is an important contributor to the Basotho nation and Lucapa’s strong marketing proposal, we believe, will see the full value of the Mothae kimberlite mine unlocked,” Lucapa managing director Stephen Wetherall.
The commercial terms of the proposal are subject of current interaction with the government and the key terms, which include an offtake arrangement, will be outlined in a separate update once finalised, said Lucapa.
Lucapa sold 3,962 carats of Mothae diamonds into a cutting and polishing partnership during the second 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 $4.1 million or $402 per carat.

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