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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

Paul Zimnisky: China key for sustained recovery in demand for natural diamonds, prices

The curtailing of upstream and midstream natural diamond production in the past months is starting to have an effect on prices, according to the New-York-based independent diamond and jewellery analyst and consultant, Paul Zimnisky. He told Rough & Polished’s...

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Lucapa incurs H1 loss after tax of $15.9mln

02 september 2022
Lucapa Diamond recorded a loss after tax of $15.9 million in the first half of 2022 compared to a profit of $5.7 million, a year earlier.
It said the loss was recorded despite a relatively stable demand environment for diamonds, particularly higher-value productions of Lulo in Angola and Mothae in Lesotho, as a result of the global inflationary environment and supply chain constraints adversely impacting mining costs and critical equipment availability.
Lucapa, however, registered a $700 000 earnings before interest, taxes, depreciation, and amortization (EBITDA) profit for the June half compared to a $1 million EBITDA profit, the previous year.
Lucapa said it received a $4 million dividend payment from Lulo following the strong operating and financial performance in 2021. 
The group also had a cash balance of $4.5 million on 30 June 2022.
Meanwhile, Lucapa produced 13,018 carats in the first half of the year at its 40%-owned Lulo alluvial mine, an increase of 16% compared to 11,206 carats, a year earlier.
It also produced 17,486 carats at its 70%-owned Mothae mine in the first six months of 2022, a growth of 18% against 14,868 carats in the comparative period last year.

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