GOLDNET.MARKET - “We want and are working to provide business with the opportunity to develop a lot of activity areas”

Today, almost all jewellery companies have their own wholesale websites, online stores, and social media pages. But a year ago, GOLDNET.MARKET, the first jewellery wholesale marketplace appeared in Russia, a new effective tool for the jewellery market...

20 september 2021

Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

Alex Popov, President of the Moscow Diamond Exchange and head of the Âme jewelry brand, which uses lab-grown diamonds to produce jewelry, sat for an interview with Rough&Polished sharing his views on the coexistence of natural and man-made diamonds in...

23 august 2021

Lucara H1 revenue plummets

11 august 2020
Lucara Diamond has realised revenue of $41.6 million or $268 per carat for the six months ended June 30, 2020 from the sale of 155,158 carats mined at its wholly-owned Karowe Mine, in Botswana. 
This, it said, represents a decrease from revenue of $91.2 million or $463 per carat recognised during the same period last year from the sale of 196,989 carats.
The decrease in revenue was largely attributed to the sales of second quarter production of the +10.8 carat diamonds being deferred to the third quarter of 2020 under the new supply agreement with HB.  
The +10.8 carats diamonds, which represent about 70% of Lucara's revenue, will be sold under the recently announced 2020 supply agreement with HB. 
The purchase price paid for Lucara's +10.8 carat rough diamonds will be based on the estimated polished outcome, with a true up paid on actual achieved polished sales thereafter, less a fee and the cost of manufacturing. 
Lucara said this pricing mechanism is expected to deliver regular cash flow starting third quarter of the year.
The company received a deposit of $13.5 million as partial payment for +10.8 carat goods delivered to HB under the new sales agreement.
The company raked in $7.5 million from the sale of 68,979 carats in the second quarter of 2020 compared to $42.5 million realised from 101,931 carats sold the previous year.
Only stones in size classes below 10.8 carats were sold during the second quarter in Antwerp and through Clara. 
The second quarter sales registered an average price of $109 per carat from $417 per carat, a year earlier. 
“The achieved price in the [second quarter of] 2020 for the stones in size classes below 10.8 carats reflects the overall rough market price erosion,” said Lucara.
Lucara recorded a net loss of $13.9 million for the second quarter 2020 resulting in a $0.04 loss per share for the quarter.
The company said the full impact of COVID-19 on its operations and production outlook for 2020 remains highly uncertain, and as a result, it is maintaining the suspension of its 2020 guidance until further notice.

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