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

Petra lauds Project 2022 as it stabilises operations

18 february 2021
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   Image credit: Petra Diamonds


Petra Diamonds says the Project 2022 is helping stabilise its operations and ensure that continuous improvement is embedded in the company's operating model and culture. 
The key drivers of Project 2022 are to identify bottlenecks and increase throughput capacity and capacity utilisation at all of Petra's mines while improving cost and process efficiencies. 
"Project 2022 has been very successful in increasing throughput and throughput ideas are targeting an estimated annualised contribution of [about] $70 million by the end of FY 2021," it said.
"This may be negatively impacted by various factors including the very significant rainfall at Finsch and Koffiefontein in December through to February 2021, COVID-19 and Williamson remaining in care and maintenance."
Petra also said it is expected that Project 2022's cost-saving initiatives will deliver an annualised contribution of about $22 million from the end of the third quarter of the fiscal year 2021.
"The key cost savings initiatives driving this saving are reduced water cost at Finsch, ventilation efficiency improvement at Cullinan and savings on electricity," it said.
"The design phase of the Organisational Design Review, which forms part of Project 2022, has been completed and will provide for more focused delivery of support by the various Group functions to the operations and alignment of operational structures across the different sites."
The implementation of Project 2022 was cited as one of the factors that helped Petra's profit from mining activities less exploration and corporate overhead (adjusted EBITDA), jump by 20% to $80.8 million from $67.2 million, the corresponding period last year.

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