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...

16 april 2024

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

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