Indian gem and jewellery manufacturers have the skill and capabilities to cater to any market in the world

Besides spearheading the “White Paper” last year, Colin Shah, Vice Chairman of the Gem & Jewellery Export Promotion Council (GJEPC) has been actively involved in the initiatives of the Council like MyKYCBank and many more… A first generation...

11 february 2019

The Indian gems and jewellery industry was progressing in the past and will certainly progress in the future

Dinesh Navadiya, the Regional Chairman (Gujarat Region) of The Gems & Jewellery Export Promotion Council (GJEPC) of India, is also the representative of the Gujarat G&J sector at various organisations as well as government authorities...

04 february 2019

The Russian Diamond Line: We do not believe that gifted persons would win through on their own

The Russian Diamond Line, a Moscow international jewellery contest of jewellery design, has been held for a decade already. At the end of the year, the results of the jubilee RDL-2018 contest were summed up, and on December 14, the prizewinners of the...

28 january 2019

New lending will have to be fully asset-backed with true provenance and transparency in the flow of goods and monies

After handling Gem & Jewellery (G&J) industry financing as a banker for many years, Erik A Jens sees an opportunity now that numerous banks are withdrawing from the sector. He is exploring opportunities to establishing a financing firm focusing...

21 january 2019

The majority of women don’t care whether their diamonds are mined or lab grown - Alex Popov, CEO of Âme

Alex Popov, President of the Moscow Diamond Bourse and former Chairman of the World Diamond Mark Foundation (WDMF) launched a new jewelry brand under the name of Âme focused on design and using lab grown diamonds to produce jewelry meant to meet...

14 january 2019

Tirisano gives Rockwell Diamonds headache, mull retrenchments

18 july 2012

Rockwell Diamonds said that its overall financial performance continues to be affected by the Tirisano start up.
It said although the South African mine had increased its production volumes by the end of the first quarter, mining was limited to a less clay-rich area, in the absence of a wet front end processing capability, which resulted in a smaller average diamond size.
Rockwell said in a statement that its board had approved an investigation initiated at the beginning of July to reconsider the mine plan at Tirisano.
This included strategies to alter the mining activity to Pit 4, which would reduce stripping ratios, and recover diamonds of a grade more in keeping with current market appetites.
“This plan will also reduce the mine's fixed cost structure and include retrenchments,” it said.
“The current processing plant will be temporarily placed on care and maintenance while the newly commissioned wet front end would be part of a simplified processing plant using existing equipment.”
Further technical studies would be conducted to confirm current estimates of the resource, and this would include additional independent investigations by expert persons, it said.
Meanwhile, Rockwell said that the longer-term supply and demand fundamentals for gem quality investment stones, comprising the majority of its production, remained positive. “Although the market has experienced price declines of some 20 percent for diamonds weighing less than 1.5 carats, such as those recovered this quarter at Tirisano, the +2 carat segment of the market that represents some 80 percent of Rockwell's production, is expected to be price stable for the remainder of the year,” it said.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished