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

DiamondCorp Nets Almost $2M from Lace Tailings Tenders

28 january 2009

DiamondCorp plc reported Tuesday that it sold 31,906 carats of diamonds $1.7 million, or an average $53.52 per carat, from tenders at  Lace tailings re-treatment plant in South Africa during 2008. The company added, however, that it has ceased activities at the plant as the “significant drop in prices” in the second half of the year meant it was “no longer economic” to operate.
The company earlier reported that in the first half of the year it sold 19,214 carats for $1.16 million, or $61 per carat. According to RAPAPORT calculations, sales in the second half amounted to 12, 692 carats for approximately $550,000, or $43 per carat.
“The world wide economic downturn has impacted significantly on the diamond market, with prices received for Lace diamonds falling 50 percent during the fourth quarter of 2008,” DiamondCorp CEO Paul Loudon said. He added that reduced demand and lower prices were expected to continue throughout 2009.
DiamondCorp owns 74 percent of the Lace mine, comprising the Lace kimberlites which have the potential to support an above 20 year underground mining operation, and the tailings re-treatment activities. The company said it recovered 50,521 carats at the tailings operation in 2008, of which 70 percent were gem quality.
DiamondCorp reported that it has received mining rights for the phase two Lace underground development and that initial mining of kimberlite from the satellite pipe has commenced. Loudon said the license will allow the company to ramp up to full underground production at Lace without limitations.
“The decision last year to accelerate development of the Lace underground mine has proven to be timely, with mining of higher value kimberlite now underway and able to take over from tailings re-treatment activities, which have become uneconomic as a result of a fall in diamond prices,” Loudon explained.
The company reported that it had cash balances of ZAR 45.2 million at the end of 2008 and long term debt of $5 million to finance the Lace development.