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

BHP Billiton 1H Diamond & Specialty Products Revenue +9%

05 february 2009

BHP Billiton stated Wednesday that that revenues from its diamond and specialty products unit rose 9.3 percent to $457 million in the six months ending December 31, 2008, compared with the same period a year earlier, RAPAPORT reported. The mining giant’s results for the first half of fiscal 2009 showed that the segment's profits from operations fell 88 percent to $9 million due to the writeoff of “exceptional items” amounting to $70 million. BHP did not expound on what these exceptional items relating to the diamond and specialty group were. Discounting these, underlying earnings before interest and taxation (EBIT) at the diamond and specialty business rose 9.7 percent to $79 million.
The rise in revenues and earnings came despite a 27 percent drop in production from its only diamond operation, the Ekati mine in Canada, to 1.367 million carats during the period, which BHP reported in January. Earnings were positively impacted by a stronger U.S. dollar and reduced exploration and business development costs, the company explained. During the year, BHP divested from its Angola diamond exploration projects, Alto Cuilo and Luangue, in which it had partnered with Petra Diamonds.
Total group revenues rose 16.6 percent to $29.78 billion, while after tax profits fell 56.5 percent to $2.617 billion, impacted by a number of exceptional items, notably the indefinite suspension of its Ravensthorpe Nickel Operations in Australia. The company explained that economic uncertainty forced it to take such actions, as it witnessed “an unprecedented fall in commodity prices” during the reporting period.
“As the global economy continues to deteriorate, we are witnessing further demand contraction for our products,” the company stated. “We believe it is likely that uncertainty will extend into the medium term.”
BHP is the world’s largest mining company and the fourth-largest diamond producer, behind De Beers, ALROSA and Rio Tinto. The company's diamond and specialty products group comprises diamonds and titanium minerals, according to BHP's website.