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

Lucara Diamond in Q2 loss, cuts sales target

13 august 2012

Lucara Diamond, which has operations in Botswana and Lesotho, recorded a loss of $7.6 million in the second quarter of 2012.
The diamond junior said in a statement emailed to Rough&Polished that it also posted a net loss of $11.8 million during the first six months of the year, compared to a net loss of $7.8 million a year ago.
Company president and chief executive William Lamb said diamonds recovered during this year were sold in two sales of production from its Karowe mine in Botswana earning proceeds in excess of $12 million.
About 66,181 carats of diamonds were sold over the two auctions at an average price of $182 per carat.
However, Lucara withheld goods in both auctions, mainly in the high color, high quality categories, due to the recent softening of the diamond market.
“We continue to believe that the medium to long term fundamentals of the diamond sector remain strong with demand outpacing supply, resulting in future price improvement," Lamb said.
Meanwhile, Lucara said that it expects to sell 230,000 carats of diamonds in 2012, lowering its previous target of 300,000 carats.
The downward revision was due to insufficient water supply to the plant at Karowe, which was commissioned in April, it said.

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