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...

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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

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23 august 2021

Namakwa reduces FY 2012 loss to $41 mln

20 november 2012

Namakwa Diamonds said it reduced its loss for the fiscal-year ended 31 August 2012 by 47 percent to $41.2 million.
The company recorded a net loss of $76.74 million during the same period last year.
The FY 2012 loss, it said, included an impairment to the carrying value of Kao mine in Lesotho of $10.39-million, losses from discontinued operations of $2.67-million and net financing costs of $4.32-million.
Namakwa also said that its revenue fell 41 percent year-on-year to $51.02 million for the period under review due to the reduction of third party trading and increased contributions from the Kao mine.
Namakwa chief executive Theo Botoulas said the company’s objective during the period under review had been to establish sustainability at the core of the company to ensure future success.
“The main aims were to cut costs, establish Phase 1 production of the Kao mine and restore the company to profitability,” he said.
“I am pleased to report to shareholders that we have indeed made considerable progress to achieve these goals, ensuring we are in good stead for the coming year to deliver quality production in fiscal year 2013.''
Meanwhile, Namakwa said its Lesotho operation, which commenced commercial diamond production in March, produced 121,521 carats.
The mine also sold 87,010 carats at an average price of $283 per carat.
Namakwa said it restructured its operations in South Africa, where it produced 23,830 carats of which 21,054 carats were sold at an average price of $919 per carat.

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