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 more than doubles adjusted EBITDA

14 september 2022
Petra Diamonds’ adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) grew 103% to $264.9 million for the year ended 30 June 2022 from the previous year’s 130.2 million, reflecting positive operational leverage from its revenue growth and improved efficiencies from Project 2022.
Its revenue rose 44% to $585 million during the period under review compared to 406.9 million, a year earlier.
The increase in revenue from rough diamond sales was driven by a 41.5% growth in year-on-year like-for-like prices and the contribution from the sale of a record number of exceptional stones of $89.1 million.
Project 2022, which was announced in 2019, seeks to improve throughput at the company’s operations, cost efficiencies and strategic sourcing.
“We have created a business improvement function to ensure that the systems and processes developed as part of Project 2022, which concluded this year, will continue to deliver benefits and seek out further improvement opportunities,” it said.
Meanwhile, Petra said its production increased 3% to 3,353,670 carats, largely owing to the resumption of mining at the Williamson mine in Tanzania.
The mine recommenced operations in August 2021 following 17 months of care and maintenance. 
“Williamson ore is lower grade in comparison to our South African mines and this translated into a 3% increase in diamonds recovered, within our guidance range,” said Petra.

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