Nosiphiwo Mzamo: South Africa’s State Diamond Trader to buy diamonds from other African countries

South Africa’s State Diamond Trader (SDT) is set to buy diamonds from other African countries starting with Botswana. SDT’s chief executive Nosiphiwo Mzamo told Rough & Polished’s Mathew Nyaungwa at the country’s inaugural diamond show, which...

10 february 2025

Edahn Golan: Halo effect from lab-grown diamonds driving high demand for large, 2-carat natural stones in the U.S.

Edahn Golan, owner of the eponymous Edahn Golan Diamond Research and Data, told Rough & Polished's Mathew Nyaungwa in an exclusive interview that their research found a halo effect from lab-grown diamonds. He said the trend among lab-grown diamond...

27 january 2025

Paul Zimnisky: We will see a modest recovery in natural diamond demand and prices in 2025

According to Paul Zimnisky, an independent diamond and jewellery analyst and consultant based in the New York metro area, the natural diamond industry will see a modest recovery in demand and prices this year. Zimnisky said a moderate recovery would...

13 january 2025

African Diamond Council makes traceability its top priority, wants KP to embrace Authentia.io

The African Diamond Council (ADC) has made traceability its foremost priority and has been contributing to a traceability solution called Authentia.io for the last three and a half years, which is now ready to globally satisfy the traceability...

16 december 2024

Gaetano Cavalieri: CIBJO leading the jewelry industry on critical issues

One of the gem and jewellery industry’s most well-known and respected personalities, Dr. Gaetano Cavalieri, has been the president of the World Jewellery Confederation (CIBJO), for the past 23 years. CIBJO is the oldest international organisation...

09 december 2024

Burgundy Diamond Mines recovers 1.2 mn carats & $ 166 mn revenue for Q4 of 2023

29 january 2024

An ASX-listed Burgundy Diamond Mines provided its financial and operating results for the Q4 2023 ended December 31, 2023.

Burgundy continues to improve production and performance at Ekati mine, in Canada’s Northwest Territories, with more efficient mining operations and highest ore processing in 10 years, including revenues of $166 mn, EBITDA of $60 mn (unaudited) and 1.2 mn carats recovered.

Fourth quarter highlights three months ended December 31, 2023 shows Revenue of $166 mn, up 37% against the Q4 2022 revenue of $121 mn. Carats recovered were 1.2 mn, up 19% against results of 1.0 mn for Q 4 0f 2022, including a 75-carat rough diamond. The average grade showed 1.17, up 12% from 1.05 of Q4 2022. Carats sold were 1.8 mn, up 41% from 1.3 mn of Q4 2022. Tonnes processed showed 1.1 mn tonnes, up 6% from 1.0 mn in Q4 of year 2022.

The increased focus on provenance and traceability is highlighted by the ongoing efforts of the G7 sanctions to restrict the flow of Russian diamonds, which should further restrict the supply of natural diamonds to the market, ultimately leading to increased prices.

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished