Silver and diamonds - the "daily bread" of jeweler

GRINGOR is a St. Petersburg-based modern jewellery manufacturing company established in 2002. It successfully develops and implements the innovations, many of which resonate with the Russians and the people abroad. In 2012, GRINGOR was awarded the honorary...

Yesterday

Willie Nagel, a gentleman, who would have the strength and stamina to deal with business leaders and politicians, passes away

By Alex Popov

Willie Nagel passed away on July 14th. Friday he was buried in Israel. I was flying from New York with a stopover in London when it happened. Being unable to be there and express my feelings to Adam and Toni, I would like to...

20 july 2021

Diamond industry's reaction to KP impasse

The Kimberley Process Civil Society Coalition (CSC) recently said that it is planning to approach the United Nations (UN) over the impasse on the redefinition of conflict diamonds and the principles of responsible sourcing. The CSC representative...

19 july 2021

Natural and LGDs are two segments of the industry that will have to learn to coexist together

Having now completed half a decade in the diamond jewelry exporting and wholesaling industry, Anmol Bhansali received formal training on Diamonds from GIA in addition to a lengthy training in jewelry wholesaling from the factories at Goldiam. He has...

12 july 2021

L'ÉCOLE Van Cleef & Arpels: our mission is to share the jewelry culture with as many people as possible

France has gradually begun to lift quarantine restrictions on places of cultural recreation, including museums starting from May 19, 2021. The world-renowned L'ÉCOLE, School of Jewelry Arts (L'ECOLE des Arts Joailliers) Van Cleef & Arpels...

05 july 2021

Petra FY2021 output down as revenue jumps

22 july 2021
Petra Diamonds produced 3.24 million carats during the fiscal year 2021, a drop of 10% compared to the 3.59 million carats, a year earlier.
The company said it registered an increased year-on-year performance at Cullinan that produced 1.94 million carats, but this was offset by lower production at Finsch and Koffiefontein, while Williamson remained on care and maintenance
“The Petra team has navigated a difficult FY2021 by delivering credible results whilst addressing numerous challenges around COVID-19 and the completion of our capital restructuring,” said Petra chief executive Richard Duffy.
“This makes Cullinan’s record performance, driven by Project 2022, all the more noteworthy.”
Petra said its fiscal year 2022 production guidance was between 3.3 million carats and 3.6 million carats, with the South African operations estimated to contribute about 3.1 million carats to 3.4 million carats.
Williamson, which is set to restart operations during the first quarter of the fiscal year 2022, was also estimated to produce 220 000 carats to 270 000 carats for the year.
Meanwhile, the company said that its fiscal year 2021 revenue rose 38% to $406.9 million from the previous year’s $295.8 million driven by sales from exceptional stones.
“We enter FY 2022 with a considerably strengthened balance sheet and a more supportive diamond market than we have seen for some time,” said Duffy.

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