Gold brings stability, acts as insurance, and generates higher risk-adjusted returns especially in times of heightened uncertainty

Somasundaram PR (Som) joined the World Gold Council in January 2013, as Managing Director, India. Based in Mumbai, Som is responsible for leading the World Gold Council's activities across the Indian gold market. Som has over 27 years of...

12 april 2021

Flun Gumerov - “I think that a diamond is a unique gift from nature. A synthetic diamond is a man-made imitation of the gift of nature”

Flun Gumerov, Chairman of the Council of the “Jewellers Guild of Russia” Association and the founder of Almaz-Holding, told Rough&Polished about what is new in the legislation relating to the jewellery production and trade, about the sentiments at the...

05 april 2021

Lucapa narrows kimberlites search

Lucapa Diamond and its Lulo partners have been for close to a decade searching for the kimberlite source or sources of alluvial diamonds being recovered from within the Lulo diamond concession, in Angola. The company believes that the frequent recovery...

29 march 2021

Shashikant D Shah: “Mined diamonds and LGDs are separate categories”

Armed with a commerce degree, Shashikant D Shah entered the diamond trade by opening a diamond Jewellery Showroom exclusively for Nakshatra and Asmi brands in 2003 and has not looked back since. DM Gems came into being in 2003 with Shashikant as Founder/Owner...

22 march 2021

Andre Messika: “The natural diamond industry today is one of the most transparent, regulated, and ethical industries in the world”

Andre Messika, a Paris-based topnotch distributor of polished diamonds migrated to Israel in 2003, to establish Andre Messika Diamonds in the Israel Diamond Exchange in Ramat Gan …and has not looked back since. In 2012, in recognition of the continuous...

15 march 2021

Southstone produces 94 diamonds at Oena in Q2

06 april 2021
Southstone Minerals (SML) says it produced 94 diamonds weighing 144.24 carats at its Oena Diamond Mine in South Africa during the second quarter of the fiscal year 2021.
It said the diamonds recorded an average price of $1,105 per carat.
In the first quarter, SML's operations were at 38% of capacity due to holiday-related breaks, COVID-19 related matters and extremely high water in the Orange River which prevented access to the Sandberg area for much of the period. 
"There is currently one mining contractor on-site with four pan plants, of which two are currently in operation, to process run of mine (ROM) material and one Bourevestnik unit used for diamond recovery," it said.
"Mining and processing of ROM material only occurred from Oena area during the period…"
Diamonds sold at Oena during the first quarter include an 8.47 carat, which was snapped for $30,797 or $3,636 per carat, a 6.22 carat for $20,155 or $3, 233 per carat and a 7.77 carat for $11,027 or $1,418.
Meanwhile, Southstone said production at the Gumrock Joint Venture during the second quarter of 2021 operated at greater than 47% of capacity due to significant delays caused by rain. 
The joint venture produced 18 diamond weighing 26.36 carats in the second and third quarter valued at an average price of $962 per carat.

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