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's first-half net loss widens

31 august 2023

Diamcor Mining, the owner of the Krone-Endora at Venetia project in South Africa, reported a net loss of C$1.2 million ($898,423) for the interim period ending June 30, 2023, compared to a net loss of C$918,953 ($677,361) for the same period in 2022.

The company sold 2,752.66 carats of rough diamonds in the current period, compared to an impressive 3,061.70 carats sold in the same period the previous year.

The decline in carats sold was compensated by an increase in the recovery of larger exceptional rough diamonds (+10.8 carats), resulting in a 57% gain in revenue to $874,663 from $545,553 in 2022.

As a result of the increase in recoveries of larger +10.8 carat special diamonds, the average dollar per carat realised on rough diamonds sold during the period increased by 74% to $317.75 per carat, compared to the average dollar per carat realised on all rough diamonds sold during the preceding interim period, which was $182.11.

Diamcor said that continuous trial mining activities at the Venetia project from inception through June 30, 2023, resulted in the incidental recovery, tender, and sale of 201,032 carats of rough diamonds, accruing $38.7 million in revenue at an average price of $192.52 per carat.

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