Lab-grown diamond jewellery sales to breach the 10% mark for the first time this year – Zimnisky

The supply and demand for man-made diamonds had been on an increase in recent years, much to the discomfort of the natural diamonds industry. Some companies in the mid-stream segment of the natural diamond industry are now involved in the lab-grown business...

28 november 2022

Diamond mining and diamond synthesis: Which is more efficient?

Vladislav Zhdanov - Professor at the National Research University Higher School of Economics and former Vice President of ALROSA (2015-2018). He is a physicist by profession. Vladislav Zhdanov was educated at the Ural Federal University (General...

21 november 2022

The success of TAGS over the past 5 years has encouraged many large tender houses to establish regular and sizeable tender operations in Dubai

Mike Aggett is an experienced Private Consultant with a demonstrated history of working in the mining and metals industry. Skilled in Luxury Goods, Business Planning, Sales, Gemology, and Jewelry, Mike is a professional who graduated from Dover College...

14 november 2022

It all starts with stones - it is they that give impetus, determine the image and embodiment

Maxim Selikhov is the founder of the SelikhoV Diamonds brand launched in 2006, and the company manufactures unique handmade jewellery with rare high-quality gemstones. He is also known as a collector of unique and large-size jewellery stones who considers...

07 november 2022

‘Our technologies – CVD machines and growing technology – are game changers’, asserts Arnaud Flambeau, Executive Chairman, 2DOT4 Diamonds LLC

Arnaud Flambeau is the Executive Chairman of ‘2DOT4 Diamonds LLC’, Dubai, a fully integrated lab-grown diamonds company. The Company provides rough 'as grown' diamonds, in-house polished IGI certified loose polished diamonds and high-quality...

31 october 2022

Petra Diamonds nearly doubles Q1 revenue

26 october 2021
Petra Diamonds’ revenue was up 48% to $114.9 million in the first quarter of the fiscal year 2022 compared with $77.7 million, a year earlier driven by proceeds from the sale of exceptional stones during the quarter totalling $50.2 million.
It said the first-quarter revenue also benefited from realised diamond prices on a like-for-like basis rising about 3% compared to the fourth-quarter fiscal year 2021.
“The company has delivered a very strong revenue result due to the contribution of exceptional stone sales, supported by the continued strength in the diamond market,” said Petra chief executive Richard Duffy.
However, year-on-year production down 12% to 861,991 carats in the first quarter from 974,346 carats, due to planned decreases in tonnages and grade as part of the strategy to mitigate the waste ingress at the Finsch mine in South Africa.
Production rose 8% compared to 794,952 carats in the fourth quarter of the fiscal year 2021.
The increase, it said, follows steps to address the impact of waste ingress at the Finsch mine in South Africa.
Petra said its fiscal year 2022 production guidance is between 3.1 million carats and 3.4 million carats.
It said the re-engineering projects at Finsch and Koffiefontein initiated in July 2021 continue and the company will provide further information on these projects in February 2022.

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