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’ GemFair ropes in more than 160 Sierra Leone artisanal miners

De Beers inaugurated its GemFair pilot programme in Sierra Leone’s Kono District with 14-member mine sites in 2018 to create a secure route to market for ethically sourced artisanal and small-scale diamonds. GemFair programme manager Ruby Stocklin-Weinberg...

16 august 2021

Firestone Diamonds Expects Significant Cash Flow from Two Projects in 2010

31 march 2009

Firestone Diamonds reported Monday that it expects to generate significant cash flow from two diamond development projects in 2010. The company said that its flagship BK11 kimberlite project in Botswana could contribute up to $30 million in yearly revenue. An evaluation indicated that diamonds on the west side of the site, which contains 7 million metric tons (7.7 tons), have a value of $175 per carat. The project has a total inferred resource of 12 million metric tons (13.2 million tons) containing 830,000 carats, RAPAPORT reported.
Phillip Kenny, Firestone’s chief executive officer (CEO), said that if the company makes a mine development decision in the third quarter of 2009, production could commence by the middle of 2010, with an initial capacity of around 1.5 million metric tons (1.7 million tons) per annum. At revenues of $20 per metric ton, BK11 could produce approximately $30 million a year and become profitable in less than 6 months, the company stated. “It is a major achievement for us to have identified significant economic potential at BK11 despite current low rough diamond prices,” Kenny said.
Kenny reported that Firestone is also making progress in contract negotiations with Debswana about the Jwaneng tailings project. “If we achieve our targets for these projects, we expect to start generating significant long-term cash flow from both projects in 2010, and the company will be well positioned to take advantage of opportunities that arise when the rough diamond market recovers,” he added.