Work hard and you will find success

Eduard Utkin, Director General of the “Jewellers’ Guild of Russia” Association, expert of the RF Chamber of Commerce and Industry’s Committee on Precious Metals and Precious Stones, told R&P about implementing the SIIS PMPS (State Integrated Information...


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

Firestone's Liqhobong Tender Nets $5M

16 may 2012

Firestone Diamonds sold a total of 67,148 carats from its Liqhobong mine for $4.7 million or an average $71 per carat at two tenders held during the company's first quarter, Rapaport reported.
The junior miner noted that while prices for better-quality diamonds are strengthening and in some categories the prices have crept up to levels not seen since June 2011, the prices of brown diamonds, near-gem quality and small stones remains depressed and under pressure.
In April, Firestone recovered an unbroken 74-carat light yellow stone, the largest stone to date from Liqhobong, while a 39-carat light yellow diamond and a white 26-carat diamond, both fragments from much bigger stones were recovered in March. These three diamonds will be sold at Firestone's upcoming tender in the second quarter and the company indicate that Liqhobong can produce large high-quality diamonds.
The company noted that production at Liqhobong was affected during the quarter as a result of plant modifications to increase tonnage throughput. The company is planning a second maintenance shutdown in June aimed at decreasing the breakage of larger diamonds. The company is also in the process of reviewing it strategy for its exploration portfolio.
Following the completion of a $23 million fund raising effort and operational restructuring during the first quarter, the company is in a stronger financial position, with sufficient cash resources to meet working capital requirements, according to Firestone.
The company also appointed South African based chartered accountant Grant Ferriman as its chief financial officer as of July 1, 2012. Ferriman is currently group financial controller of Mwana Africa Plc. His appointment follows the resignation of Angus Ogilvie as finance director during April 2012.