News
Tharisa meets FY2026 guidance, Karo Platinum fully funded as net debt swings to $51m
Tharisa has reported full-year production in line with guidance for both platinum group metals (PGMs) and chrome concentrates, while confirming its Karo Platinum project in Zimbabwe is now fully funded following a $300 million bond issue.
Today
Israel’s diamond sector poised for revival following tax reforms and De Beers comeback
De Beers, one of the world's major diamond market players, has announced the resumption of its operations in Israel after a nine-year absence, which became the latest sign of revival of the diamond industry in the country.
Today
Kefi Gold and Copper restarts Tulu Kapi development after safety review
Kefi Gold and Copper has resumed development at its Tulu Kapi gold project in Ethiopia following a suspension that began on September 7 after a serious safety incident three days earlier.
Today
Nornickel implements smart melt monitoring system
Norilsk Nickel has installed a smart melt monitoring system at its metallurgical plant in Norilsk in collaboration with Reksoft. The system uses computer vision to assist the converter operator in identifying phases during the tapping process.
Today
ALROSA to help amplify Arctic agenda at UN
In preparation for the 31st UN Climate Change Conference (COP31), ALROSA experts and other stakeholders from Russia discussed a unified approach to strengthening the country’s position and the Arctic agenda at UN climate conferences.
Today
William Lamb: Lucara now knows best routes to market large stones
09 october 2017
Lucara Diamond recently announced that Graff Diamonds had bought its 1,109 carat diamond Lesedi La Rona for $53 million. The stone, which is the world’s second largest diamond found since the discovery of the 3,106-carat Cullinan diamond in 1905, failed to find a buyer at a public auction in London on 29 June, 2016 and the company vowed not to auction the diamond again. Reports suggested that the stone had a reserve price of $70 million, but bidding stalled at $61 million. Lucara had, however, partnered with Nemesis International DMCC a month prior to the London auction and sold its 813 carat diamond – named “The Constellation” – for $63,1 million. Company chief executive William Lamb told Rough & Polished’s Mathew Nyaungwa that one shouldn’t fall into the trap of comparing the revenue accrued from the sale of both stones. He said what was significant was the fact that the stones were collectively sold for almost the same amount as the cost of building Karowe Mine, in Botswana. The diamonds originated from the south lobe of Karowe Mine. Lamb admitted that they had had some learning to do on the best way to market large diamonds. Below are excerpts from the interview.
GSI was the first in the world to begin testing of smaller size diamonds in bulk and has never looked back since - Mark Gershburg
02 october 2017
With more than 30 years of experience in the gem lab sector under his belt, Mark Gershburg is an industry veteran widely popular in the global gem and jewelry industry. He began his career in 1980 as a grader but his professionalism, creativity, and commitment were rewarded with increasing levels of responsibility until he became the director and CEO. In early 2005, Mark launched Gemological Science International (GSI) with a vision of creating unprecedented innovation in new technologies. His goal was to improve trade efficiencies, enhance the consumer experience and meet the rapidly changing needs of the jewelry industry in the new millennium. Currently, Gershburg is actively involved in multiple jewelry industry organizations including the Jewelers Vigilance Committee and the Responsible Jewelry Council, besides steering GSI to become a laboratory equipped with sophisticated technologies. Here, in an interview with ROUGH&POLISHED, Mark Gershburg traces the company he founded, from its inception till date; and also touches upon some points that the industry can focus on like transparency, best practices, etc.
Gaetano Cavalieri: Over the long term, demand for diamonds is likely to grow at a steady pace
25 september 2017
The World Jewellery Confederation (CIBJO) represents the entire jewelry industry embracing a whole variety of companies, from those mining precious metals and gems to those, which are manufacturing and selling final products. The confederation members are national jewelry associations from more than 40 countries, including Russia. In 2006, the CIBJO was the only organization granted the official status of a consultant to the UN Economic and Social Council on the development of the global jewelry industry. Gaetano Cavalieri, President of CIBJO, has kindly agreed to give this interview to Rough&Polished and to talk about his vision of the situation in the diamond industry.
“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.
