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...

Today

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

De Beers' Snap Lake Cutbacks

06 march 2009

Mining Weekly reports that De Beers Canada CEO, Jim Gowans reported that it is running the Snap Lake diamond mine at about 30%-40% of design capacity.
In an interview at a MineAfrica event, Gowans said that another operation in Ontario is operating at just under 100%.
As the world financial crisis and slumping economy continue, the demand for precious gems is declining and the first six months of the year will be "a real challenge" Gowan remarked.
An announcement by the De Beers group tells of production cutbacks and job cuts at its operations around the globe.  Last week De Beers said that they are laying off 128 employees and cutting back on 90 contractor positions at Snap Lake as part of the restructuring.
There has not been significant movement in diamond prices, says Gowan, despite the changing market conditions, "It's just that people are not buying:  if there is uncertainty in the market, they sit on their money," he added.
Like the rest of the group, De Beers Canada is trying to suit production to sales levels, and will continue to adapt output levels as conditions shift, particularly at Snap Lake.
"It's basically changing every week, as we monitor the industry and the sights."
The healthy margins at Victor, Ontario, will ensure that cash-flow from the mine is better protected than at lower-grade mines.
The Victor and Snap Lake facilities, which De Beers officially opened in July 2008, are the group's first producing mines above the Southern Hemisphere.
According to the mines outlook, Snap Lake is projected to produce 1.4-million carats a year for 20 years, and Victor is expected to provide 600,000 carats for a life-of-mine of 12 years.