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...

Yesterday

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’s Cullinan Mine May Produce 27% More Carats

23 january 2009

Petra Diamonds Ltd., a producer of the gems in Africa, said its Cullinan mine in South Africa will yield as much as 27 percent more than initial estimates, Bloomberg reported.
The mine is targeted to produce 950,000 carats in the fiscal year to June, compared with an initial projection of between 750,000 and 850,000 carats, Petra said in a presentation distributed at the mine today.
Gem prices have “virtually halved” since November, Chief Executive Officer Johan Dippenaar told reporters at the site.
Consumers in the U.S., which accounts for about half of the world’s retail diamond sales, are reining in spending as the economy shrinks. ZAO Alrosa, Russia’s diamond monopoly, said last month it expected fourth-quarter sales last year to drop 31 percent below average quarterly levels. Toronto-based BRC DiamondCore Ltd. said last week it would extend a shutdown at its South African operations and start talks with labor unions over job cuts because of “depressed” prices.
Petra doesn’t plan any production cuts, Dippenaar said, adding that he expected the market wouldn’t improve until the end of next year.
The company is on course to produce 1 million carats this year, compared with 200,000 the previous year, Petra said. The company has interests in three other mines in South Africa, another in Tanzania and exploration projects in Angola, Botswana and Sierra Leone.
Petra’s shares fell 2 pence, or 3 percent, to 68 pence in London trading at 8:40 a.m., valuing the company at 125 million pounds ($174 million).