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

Debswana Mines set to re-open

15 april 2009

Debswana Diamond Company will tomorrow, (15 April 2009), resume production at Orapa, Letlhakane and Jwaneng mines which has been suspended since December 2008. Production was suspended in the light of reduced demand for rough diamonds by the Diamond Trading Company’s Sightholders, brought about by the global economic crisis. Production at the fourth and smallest mine, Damtshaa, and at Orapa No.2 Plant will remain suspended until the end of 2009 as demand is expected to be depressed for much of this year, according to De Beers press release.
The primary purpose of the production suspension was to protect the company’s cash position by reducing production costs thereby preserving jobs. 
During the suspension of operations, Debswana carried out maintenance work on its major assets in readiness for the eventual upturn in the market. 
At the time of suspending operations, the company was carrying uneconomic quantities of inventories (diamonds) occasioned by very low sales of the 2008 fourth quarter production. It was therefore able to continue to sell diamonds during the suspension of operations to meet DTC demand.
Debswana realised substantial savings from the two shutdowns in December-January and February-April, which made much-needed contributions to the Company’s bottom line. 
Debswana which has been producing and selling over 30 million carats of rough diamonds per year since 2003, is expected to produce less than half its normal production in 2009 in line with the drop in demand.