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

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

De Beers inaugurated its GemFair pilot programme in Sierra Leone’s Kono District with 14-member mine sites in 2018 to create a secure route to market for ethically sourced artisanal and small-scale diamonds. GemFair programme manager Ruby Stocklin-Weinberg...

16 august 2021

Gemfields suffers $93 mln net loss

02 april 2021
Gemfields says it suffered a $93 million net loss in the year ended December 31, 2020, compared to a net profit of $39-million, a year earlier.
Its loss a share was $0.07 in 2020, compared with earnings a share of $0.02 in the prior year.
The group attributed the loss to the Covid-19 pandemic, which forced the company to suspends auctions in their traditional format since February 2020.
Gemfields was forced to suspend operations at the emerald and ruby mines operated by Kagem Mining, in Zambia, and Montepuez Ruby Mining, in Mozambique, to save cash.
"We believe the difficult decisions taken during 2020 best position Gemfields for an optimal recovery in 2021," said company chief executive Sean Gilbertson.
Gemfields has since restarted operations at both Kagem and Montepuez and both would be fully operational by the end of April.
The group managed to host only one regular-format auction in 2020, realising $11.4-million from the sale of commercial-quality emeralds in February 2020 in Lusaka.

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