Ellah Muchemwa: ADPA to launch Africa's first diamond mining standard next year

The African Diamond Producers Association (ADPA), which is based in Luanda, Angola, and represents the interests of mainly African diamond producers and those with the potential to produce diamonds, will next year launch the Sustainable Development...

04 november 2024

Dmitry Fedorov: I want our jewelry to be displayed at a museum in the future

Dmitry Fedorov is the founder of the eponymous jewelry house. His main focus is the creation of Orthodox-inspired premium luxury jewelry of high artistic merit. He told Rough&Polished about his journey in the jewelry industry, about choosing the ‘Orthodox...

28 october 2024

Responsible business practices ‘no longer optional’, says WDC President Feriel Zerouki

The president of the World Diamond Council takes time out of her busy schedule to tell Rough&Polished readers about the critical work of the WDC. Zerouki, the first female present of the body, which includes all the important industry organizations among...

14 october 2024

James Campbell: Botswana Diamonds optimistic as it enters uncharted territory of using AI for mineral exploration

London-listed Botswana Diamonds has expressed optimism about the company’s use of artificial intelligence (AI) to scan the exploration database in Botswana to look for new mineralised deposits. Company managing director James Campbell told Rough...

07 october 2024

Artur Salyakayev: For me, happiness is freedom to make my ideas happen and create valuable products

Artur Salyakayev is an art entrepreneur, founder of the International Jewelry Academy (IJA) and the INCRUA jewelry company. He has initiated and developed successful projects in jewelry industry and services sector. He is also a leading expert...

30 september 2024

Higher costs push De Beers H1 earnings down

26 july 2018

news_26072018_debeers.pngDe Beers said its underlying earnings before interest, taxes, depreciation and amortization (EBITDA) eased 9 percent to $712 million in the first half of 2018 compared to $786 million, a year earlier, due to higher costs.
The group’s cost of production jumped 6 percent to $67 per carat driven by the impact of unfavourable exchange rate movements and waste mining costs.
De Beers’ total revenue was $3.2 billion from last year’s 3.1 billion, while rough diamond sales were maintained at $2.9 billion.
The average realised rough diamond price increased by 4 percent to $162 per carat compared with last year’s $156 per carat due to a 1.6 percent increase in the average rough price index and an improvement in the sales mix.
Meanwhile, De Beers said the outlook for 2018 global consumer demand remained positive in most of the main diamond consuming countries, based on world economic prospects, positive consumer sentiment and continued investment in marketing.

Mathew Nyaungwa, Rough&Polished