Work hard and you will find success

Eduard Utkin, Director General of the “Jewellers’ Guild of Russia” Association, expert of the RF Chamber of Commerce and Industry’s Committee on Precious Metals and Precious Stones, told R&P about implementing the SIIS PMPS (State Integrated Information...


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

Petra boosts Q3 revenue as output dips

21 april 2021
Petra Diamonds says its third-quarter revenue for the financial year 2021 jumped 16% to $106 million compared to $91.3 million, a year earlier.
It said the increase was driven by improved pricing, the sale of a 299.3-carat exceptional diamond in February for $12.2 million, and the carryover of 382 000 carats, of mostly lower value stock from the first half of the financial year 2021 (H1 FY 2021), sold last January.
Petra said realized diamond prices increased by about 12% on a like-for-like basis from those achieved in H1 FY 2021.  
"We are seeing encouraging signs of a recovery in the diamond market, supporting better pricing, reflected in the third quarter revenue numbers," said Petra chief executive Richard Duffy.
"Post completion of the capital restructuring, Petra is in a far stronger position, with a solid platform for future growth and development."
Meanwhile, the group's third-quarter production eased 24% to 704,498 carats compared to the previous year's 932,456 carats, with production for the nine months decreasing 19% to 2,4 million carats as opposed to 3 million carats in the comparative period last year.
Production at Cullinan in South Africa was up 9% to 436,703 carats, while a 43 decrease in production was registered at Finsch, also in South Africa with 253,607 carats.
The Koffiefontein mine in South Africa recorded an 18% decrease in production to 14,188 carats and the Williamson mine in Tanzania remained on care and maintenance.
Petra said discussions with the government of Tanzania concerning various issues at the Williamson mine, including the overdue VAT receivables and the blocked diamond parcel, are ongoing and are expected to conclude in the next quarter.

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