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Petra Diamonds full-year profit slides, resumes Williamson operations

Petra Diamonds said its adjusted earnings before interest, tax, depreciation and amortization (EBITDA) slowed 4 percent to $157.2 million from last year’s $164.3 million.

Yesterday

Lucapa posts $1.1 million H1 loss

Lucapa Diamond Company, which has a 40 percent stake in Sociedade Mineira do Lulo (SML), in Angola said it recorded a $1.1 million loss for the six months ended 30 June 2017 compared with a $3.25 million profit, a year earlier.

Yesterday

MIJEX slated for Oct. 24-28 in Muscat

Oman International Exhibition Centre is proud to announce the 8th Muscat International Jewellery Exhibition 2017 (MIJEX) to take place on October 24-28, 2017 at Oman Convention and Exhibition Centre, Muscat, Oman, says a press note from the organiser...

Yesterday

Botswana’s Okavango appoints new managing director

Botswana’s state-owned rough trader, Okavango Diamond Company, has appointed Marcus ter Haar as its managing director.

Yesterday

India's overall exports from gem and jewellery sector down almost 25% in August

Overall exports from the gem and jewellery sector during August 2017 was at $ 2.77 bn, a drop of 24.42% over the $ 3.66 bn exported in the same month the previous year.

19 september 2017

“I am bullish on the future of the diamond business. Three reasons for this optimism... new discoveries, extending mine life and the increasing demand for diamonds”, says Martin Leake

18 september 2017

Martin Leake is a PhD exploration geologist and Six Sigma black belt who has been involved in the rough diamond market since 2004. He worked for BHP Billiton for 22 years and recently left Grib Diamonds where he helped set up a world-class marketing unit from scratch. He is currently working as an independent consultant. In an Interview with Rough&Polished, Martin Leake, who has seen it all - right from explorations to marketing - goes back in time to recall his experiences in the various positions that he had held during his long, fruitful career.

Diamond exploration junior obtained conclusive proof of diamond-bearing kimberlites in Russia’s North

11 september 2017

OOO Proex Service, which is searching for diamonds in the Arkhangelsk Region of Russia, discovered seven kimberlite pipes in the Kozolsky license area having spent 15 months for the find. One of the pipes is very similar to the highly diamondiferous Grib diamond pipe by its petrochemical characteristics and a set of indicator minerals pointing to kimberlites. Vladimir Shchukin, the head of Proex Service, is confident that diamondiferous kimberlites will be discovered in other licensed areas explored by this junior company, whose operations he described in an interview given to Rough & Polished.

People do not just make fun in the social media, they make purchases there

04 september 2017

Oksana Senatorova has been famous in the jewellery world for a long time as a publisher of the ‘Navigator in the Jewellery Trade’ journal, organizer of the international contest ‘The Best Jewellery Store of the Year’, curator of professional events and industry workshops on sales in the jewellery sector and an active blogger. She was given credit for her achievements and merits with a ‘Memorial Faberge Foundation’ award. Oksana Senatorova answered the questions of Rough&Polished.

‘There is no illegal tanzanite mining in Tanzania’

28 august 2017

Richland Resources, which wholly-owned TanzaniteOne until the Tanzanian government forced it to relinquish half of its stake to the State Mining Corporation (STAMICO), exited the country in 2015 to focus on its operations in Australia. The formalisation of the JV with Stamico in December 2013 saw Richland receiving assurances that illegal miners in Block C would be removed, allowing reinvestment in the mining infrastructure and consequently improve output. However, owing to what Richland called “government inaction”, they continued to experience interruptions in most of the undersigned mining areas in the mining licence area. Before its departure, the company bemoaned a “significant” increase in illegal underground mining at its then joint venture tanzanite operation. It said illegal miners were entering underground areas from neighbouring blocks posing danger to its employees. But, local dealers don’t see any problem of illegal tanzanite mining in the country as suggested by Richland. Begoti Enterprises marketing manager Bahati Mollel told Rough & Polished that Richland’s claims of illegal mining was a ruse and their eventual departure of the country was because they had “harvested” enough. He also commented on challenges they are facing in marketing cut and polished tanzanite. Mollel, however, posited that there was need for locals to meet international standards to ensure penetration of international polished markets of their stones.

David Block: “Intellectual property theft is not just Sarine's problem...whole industry should combat this phenomenon.”

21 august 2017

For more than 15 years, David Block served in various senior positions at Sarine Technologies in Israel and India. From 2012 until his appointment as CEO in 2017, Block was Sarine's Deputy CEO and Chief Operating Officer, with responsibility for global operations and sales. He previously served as Deputy CEO and VP of Sales. Until 2009, Block held the position of CEO of Sarine India, managing over 70% of the Group's revenues. Prior to joining Sarine, Block worked at several major Israeli hi-tech companies in the management of large scale development projects. Block holds an MBA from the Kellogg-Recanati School of Business, a joint degree from Northwestern University and Tel Aviv University, and a Bachelor's degree in Computer Science from the Tel Aviv-Jaffa Academic College in Israel. Here, in an interview with Rough&Polished, David Block speaks about new developments at the company, future plans, new products as well as the recent attempt by infringers from India to steal the company's technology.

A new brand has come to the Russian market - LA VIVION

14 august 2017

How this had happened was disclosed in an interview with Rough&Polished by Andrey Yanchevskiy, CEO of LA VIVION, who, having turned from a programmer into a jeweler, proved that algorithms and diamonds are a promising combination in business.

KGK says Botswana lacks capacity, expertise to produce diamond jewellery

07 august 2017

KGK Diamonds Botswana opened its operations in the southern African country and the world’s second largest diamond producer in value terms, in 2014 and it is currently cutting and polishing rough sourced from De Beers’ Diamond Trading Company. Company representative Omphile Masuku told Rough & Polished’s Mathew Nyaungwa in an interview that Botswana was not as good as India and Belgium in producing diamond jewellery at the moment. So when they locally cut and polish diamonds they are shipped to India and Belgium for further value-addition. She, however, said that there was a possibility that the company will in future start producing its own diamond jewellery.

Jewellery might not come under the category of basic necessity, but for women it is a need

31 july 2017

Enchanted by the City of Gold-Dubai, brothers Kiran Pethani and Anil Pethani travelled from their little village in Gujarat, India to Dubai in search of a better livelihood. In 1993, they started working for a jeweller in Gold Souk where they learnt enough about the trade of diamonds, gemstones, jewellery, manufacturing and in year 2004, braved it out to start on their own and the rest, as they say, is history. Today, Cara Jewellers is a Dubai based fine jewellery brand, known globally for their phenomenal diamond and coloured gemstone jewellery. With their 24 years of experience in the jewellery industry and their team of 300 sales staff, craftsmen and designers, for Kiran and Anil the sky is the limit. In an interview with Rough & Polished, both Kiran and Anil give us a peep into their mindsets; and their thoughts about the global jewellery industry; their business; and their dreams...

"The government should financially support the setting up of skills development units and Gems and Jewellery parks" suggests Sanjeev Agarwal, CEO, Gitanjali Exports Pvt Ltd.

24 july 2017

Sanjeev Agarwal has a unique combination of experience encompassing FMCG, Banking & Finance and the Luxury Retail Sectors with Unilever, Cadburys and Deutsche Bank. Sanjeev’s next move to World Gold Council as Managing Director (India-subcontinent) saw him work on a number of market & category development initiatives…conceptualizing and creating an “all India gold buying day” on ‘Akshaya Tritiya’ and ‘retailing of gold coins’ through the Bank branches and the Post Office in India. Sanjeev has also held positions such as Chairman FICCI (Federation of Indian Chamber of Commerce) Gems & Jewellery Committee; Chairman of the Indo-Armenian Joint Business Council; Honorary Managing Director of the World Silver Council; was on Panel of Advisors to the Government of India on the gold policy matters and many others... With Gitanjali Gems Group, Sanjeev has been spearheading a number of new business initiatives both in India and the overseas market, including the development of a unique ‘point of sale’ - a diamond & jewellery ATM machine. He recently launched a “concept’ precious metal called – Lumineux Uno – which is a combination of the 4 precious metals (Gold, Silver, Platinum and Palladium) for a US-based body called ‘The Leading Jewellers of the World’. Here Sanjeev speaks at length to Rough & Polished about the Indian G&J industry, Gitanjali Group as well as all the challenges that the industry is facing currently.

Virtual Possibilities of Jewellery Market

17 july 2017

Online jewellery trading in Russia – since it started boosting and becoming more popular among the consumers - is of keen interest among the market players and is a topical issue. Dmitry Zamyshlyaev, Deputy Head of the Federal State Enterprise ‘Assay Chamber of Russia’ on financial monitoring and governmental control over imports and exports of precious metals and special registering, under the Ministry of Finance of the RF, answered the R&P questions.  

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