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

Gem Diamonds boosts Q1 output at Letšeng as revenue dips

26 april 2021
Gem Diamonds says it produced 29,010 carats at its 70%-owned Letšeng mine in Lesotho during the first quarter of 2021, an 11% jump compared with 26,110 carats produced a year earlier.
However, the company's revenue for the period eased 7% to $43.9 million from the previous year's $47.3 million.
The average price achieved in the first quarter of 2021 went up by 1% to $1,630 per carat against $1,615 per carat in the comparative period last year.
Gem said the prices achieved for Letšeng's diamonds reflected the continued improvement in market conditions.
"It is pleasing to see that carat production during the period was up [against] some 11% on the same period in 2020 and that the average price of $1,630 per carat was also slightly up on Q1 2020," said company chief executive Clifford Elphick.
"Although the production from the mining mix was not as impressive as the second half of 2020, with fewer large diamonds recovered due to the areas accessed under the mining plan, prices achieved on a like for like basis remained strong for Letšeng's high-value diamond production."
Gem ended the period with $26.9 million of cash on hand and Letšeng paid the remaining dividend of $10.0 million that was declared in 2020.

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