Varvara Dmitrieva: The jewelry industry of Yakutia is distinguished by its creativity, unique cultural code and conservation of traditions

Varvara Dmitrieva, Associate Professor and Head of the Department of Precious Stones and Metals Processing Technologies of the North-Eastern Federal University, told Rough&Polished about the results of the Forum of jewelry Craftsmanship and the prospects...

Yesterday

Valery Budny: There is no strategy and legislation in Russia enabling the full cycle processing of precious raw materials within the country

Valery Budny, Head of the Jewelry Russia program and CEO of the JUNWEX media holding, told Rough&Polished about the results of the meeting and pressing issues in the precious metals and precious stones (PMPS) and the jewelry sectors.

11 april 2024

Paul Zimnisky: Natural diamonds face the risk of eroding their appeal if constantly discounted

New York-based independent diamond and jewellery analyst and consultant Paul Zimnisky told Rough & Polished’s Mathew Nyaungwa in an exclusive interview that the industry should do away with discounts. He said the industry should treat natural diamonds...

01 april 2024

Edahn Golan: Lab-grown diamond prices to continue declining

In an exclusive interview with Rough&Polished's Mathew Nyaungwa, Edahn Golan, proprietor of the eponymous Edahn Golan Diamond Research and Data, predicted that the prices of lab-grown diamonds would continue to decline, especially at the retail and...

25 march 2024

ADPA’s Ellah Muchemwa: G7 restrictions to bring extra costs from diamond mining to retail

The African Diamond Producers Association (ADPA), which has openly registered its disdain for the G7’s rough diamond trade restrictions, is of the opinion that the move will bring extra costs on all stages, from mining to retail. ADPA executive...

18 march 2024

Diamcor reduces net loss

03 august 2023

Canadian diamond mining company Diamcor has reduced its net loss for the year ended March 31, 2023, to C$762,308, compared to C$2,4 million, a year earlier.

This resulted in a C$0.01 per share loss compared to the previous year’s C$0.03 per share loss.

Diamcor generated gross revenues of C$7,2 million from operations in the year, a 37% increase as compared to C$5,8 million for the same period in the previous year.

However, expenses were C$6,4 million during the period under review compared to the previous year’s C$7 million, resulting in a net loss of C$762,308.

Meanwhile, Diamcor said the overall average dollar per carat achieved on all rough diamonds sold during the period increased by 39% to US$340.51 per carat as a result of increased recoveries of larger +10.8 carat special diamonds.

It sold 18,476 carats of rough diamonds in the year, compared to 18,781 carats during the same period in 2022.

“We are pleased to be able to announce these improved results in virtually every metric over the previous year given the significant challenges with consistent power supply we had to endure during the latter half of the fiscal year,” said company chief executive Dean Taylor.

“We believe these results demonstrated the potential the project has, and we now look to shift our focus to advancing the drilling and bulk sampling efforts over the greater areas of the project to further support increased processing volumes and operational consistency.”

Diamcor's primary focus is on the mining and development of its Krone-Endora at Venetia project, which is co-located and directly adjacent to De Beers' Venetia Diamond Mine in South Africa.

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