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...

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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

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23 august 2021

De Beers’ GemFair ropes in more than 160 Sierra Leone artisanal miners

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16 august 2021

Diamcor Q2 revenue dips to $339k

02 december 2020
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Image credit: Diamcor


Diamcor Mining sold 2,426.63 carats of rough diamonds from its Krone-Endora at Venetia project, in South Africa generating revenue of $339,280 in the second quarter compared to $730,692, a year earlier.
The company said the diamonds sold were held in inventory as of March 31, 2020 and it realised an average price of $109.32 per carat in the six-month interim period ended September 30, 2020.
“This lower than historical average was expected given these rough diamonds were recovered as part of tailings re-treatment exercises completed prior to the mandated COVID-19 shutdown,” it said.
Diamcor said ongoing trial mining exercises at the project from inception through September 30, 2020 had resulted in the incidental recovery, tender, and sale of 156,631 carats of rough diamonds generating revenue of about $26 million, resulting in an average of $165.84 per carat. 
A net loss of $621,016 was recorded for the three months ended resulting in a $0.01 per share loss. 
Diamcor was forced to suspend operations in March due to a government mandated COVID-19 shutdown in South Africa.
The company resumed operations in October with reduced staffing levels.

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