Dr M'zée Fula Ngenge: ADC shall continue to encourage sustainable and positive transformation of the African mining industry for years to come

Dr M'zée Fula Ngenge, Chairman of the African Diamond Council (ADC) & African Diamond Producers Association (ADPA), not only mirrors the recent INDABA event in Cape Town, but also clarifies his thoughts on the G7’s push to sanction...

26 february 2024

Nosiphiwo Mzamo: South Africa's State Diamond Trader wants more cutting and polishing centres by 2027

South Africa’s State Diamond Trader (SDT), which is mandated to buy and sell rough diamonds as well as promote beneficiation and equitable access to the country’s diamonds, is targeting having 20 cutting and polishing factories in the country...

19 february 2024

Vipul Shah, Chairman of GJEPC: Indian manufacturers are making cautious decisions to align inventory with demand

Vipul P Shah as Chairman of the Gem & Jewellery Export Promotion Council of India (GJEPC) has been at the forefront to drive export demand. Here, in an exclusive interview with Rough&Polished, Vipul Shah opines on the various challenges being...

12 february 2024

James Campbell: Botswana Diamonds optimistic of receiving Thorny River mining permits this year

Botswana Diamonds had hoped to commence operations in the second half of 2023 at the Thorny River hard rock kimberlite dyke system in South Africa; however, the company was unable to secure the necessary mining permits in time.

05 february 2024

Underground operations are the most economical approach to extend Jwaneng mine's lifespan – De Beers

Debswana, a 50/50 joint venture between De Beers and Botswana's government, recently announced plans to make an initial investment of $1 billion in the Jwaneng underground project. In an exclusive interview with Rough & Polished's Mathew Nyaungwa...

29 january 2024

Gemfields earns $69.5mln from mixed-quality ruby auction

07 december 2023

Gemfields has realised $69.5 million in revenues from 239,591 carats recovered at Montepuez Ruby Mining (MRM) in Mozambique.

It said the mixed-quality rubies sold at its December auction attracted an average realised price of $290.02 per carat

Gemfields’ total auction revenue for 2023 stands at $242 million, the second highest in the company’s history.

The company has conducted 21 auctions of MRM gemstones since June 2014, generating more than $1 billion in total revenue.

“We’ve seen ruby prices at our auctions go from strength to strength in recent years and our final auction of 2023 has further endorsed that trend,” Gemfields managing director of product and sales Adrian Banks.

“This auction has shown that the demand and pricing for rough rubies is decidedly healthy.”

This auction also takes Gemfields past the milestone of $2 billion in cumulative emerald and ruby auction sales.

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