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

BHP Billiton's Diamond Revenue -29%

23 august 2012

BHP Billiton reported that revenue from its diamond operations fell 30 percent during the fiscal year that ended on June 30, 2012. Earnings before interest and tax (EBIT) declined 58 percent to $224 million, Rapaport reports.
BHP Billiton explained that production at its 80 percent owned Ekati mine in Canada was the main contributing factor to the compression of operating margins, while diamond prices were stronger than the previous year.
The company’s diamond production fell 29 percent to 1.784 million carats during the fiscal year. BHP Billiton stated that production at Ekati is expected to remain constrained as the operations extract lower grade material, consistent with the mine plan.
BHP Billiton did not provide separate data for the second half of its fiscal year, however, Rapaport calculations indicated that the decline in diamond revenue accelerated in the second half. For the six months that ended on June 30, BHP Billiton’s diamond revenue fell 40 percent year on year to $350 million while EBIT dropped 69 percent to $104 million.
BHP Billiton stated that its review of the diamond business, announced in December 2011, is ongoing.