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

Lucapa ups Lulo diamond resource by 35%

20 april 2021
Lucapa Diamond has reported a 35% increase in the resource carats at its 40%-owned Lulo alluvial diamond mine in Angola to a new high of 135,900 carats from the previous 100,700 carats.
However, the mine's diamonds are now modelled at an average value of $1,440 per carat from the previous year's $1,620 per carat.
Lucapa said the total diluted volume of gravel available for mining in the updated Lulo Diamond Resource increased to 2 million cubic metres, which equates to a minimum of four years throughput at current processing rates. 
"As per prior updates, the Lulo Diamond Resource is continually being added to, as the alluvial exploration drilling and pitting program continues in the areas yet to be explored," it said.
Meanwhile, Lucapa said record performances across its operating mines, in Angola and Lesotho with a supported pricing environment, has led to a strong first quarter of 2021.
The group generated a consolidated EBITDA of $3.5 million for the quarter or an adjusted EBITDA of $4.1 million, which includes 40% of Sociedade Mineira Do Lulo (SML)'s EBITDA.
"After a testing 2020, the recovery in the diamond sector has continued its momentum, resulting in strongly supported prices across the diamond industry," said Lucapa managing director Stephen Wetherall.
"This together with the stellar performances at our mining operations has resulted in record recoveries, mining volumes and diamond revenues delivering outstanding quarterly operating profits and cash flows."
The group's cash and diamond sales receivables balance at quarter-end was $9.3 million with 2,259 carats held in Mothae's diamond inventory.
SML associate held a cash balance of $5.2 million as well as a 3,652-carat diamond inventory at quarter-end.
Meanwhile, Lucapa said it produced 4,655 carats at Lulo during the quarter, which was 5% weaker compared to 4,891 carats recovered the previous year.
Recoveries for the quarter included 136 diamonds greater than 4.8 carats, which in turn included 65 specials.
It said Mothae recovered 5,264 carats for the quarter down 23% from 6,853 carats in the first quarter in 2020.
The diamonds recovered in the quarter included 96 diamonds of more than 4.8 carats and 19 specials, including the high-value 213-carat D-colour Type IIa white diamond.

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