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

BlueRock records operating loss of £1,5 mln

05 october 2020
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Image credit: BlueRock

BlueRock Diamonds, which owns the Kareevlei mine in South Africa, has recorded an operating loss of about £1,5 million on turnover of about £1,3 million in the six months ended 30 June 2020 compared with a loss of £471,000 on turnover of approximately £1,4 million in the first half of 2019.
It said the increase in operating loss was caused by the impact of Covid-19 on production and prices; the cost of creating KV Main Pit; and the impact of the heavy rainfall in the first three months of the year.
“The impact of Covid-19 was significant as it stopped production for 50 days and has had and continues to have an ongoing impact on prices,” said BlueRock.
“It is difficult to be exact about the financial impact that this has had but we estimate that the revenue impact to date is approximately £700,000 to £800,000.”
Despite being closed for almost two months as a result of Covid-19, production increased by 37% to 165,000 tonnes compared with the first half of 2019. 
It produced 4,981 carats in the first half of 2020 compared to 4,938 carats, the previous year.
BlueRock recommenced mining in the lower levels and the grade has improved averaging 4.4 cpht since the beginning of July 2020.
Meanwhile, continued expansion plans at Kareevlei, combining KV1 and KV2 to mine more efficiently, increased plant size by 20% to handle one million tonnes per annum, and advanced work to upgrade the
Resource.

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