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

Petra almost doubled FY 2012 diamond output, incurs loss after tax

25 september 2012

Petra Diamonds said that its production for the financial year ended 30 June, 2012, nearly doubled to 2,208 million carats from 1,117 million carats a year earlier.
It said in a statement emailed to Rough & Polished that the boost in output was mainly due to the contribution from Finsch - South Africa's second-biggest diamond mine, which it acquired from De Beers last year.
Profit from mining activity was up 35 percent to $103.3 million during the period under review when compared with $76.4 million accrued a year earlier, it said.
Revenue was also up 44 percent to $316.9 million from FY 2011’s $220.6 million.
However, Petra said that it recorded a loss after tax of $2.1 million from a profit after tax of $59.2 million recorded the year before.
The loss was attributed to “unrealised” foreign exchange losses of $38.6 million and non-recurring transaction costs of $3.1 million.
Meanwhile, Petra said that it expected the diamond market to remain under pressure in the near future due to the global economic uncertainty.
“In view of the declining medium and long term supply of rough diamonds, combined with the advancement of our development programmes to increase production to 5 million carats in FY 2019, Petra is poised to continue its rapid development as a market leading diamond mining company,” said company chief executive Johan Dippenaar.

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