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

Lucapa incurs loss after tax of $17.2 million

01 march 2024

Lucapa Diamond recorded a loss after tax of $17.2 million for the year 2023, compared to $15.1 million in 2022, after recognising a non-cash impairment charge of $13.4 million in respect of Mothae’s Property Plant and Equipment.

It also attributed the loss to a $3.5 million unrealised foreign exchange loss on the intergroup loan due to the weakening of the South African rand against the United States dollar.

The loss after tax for the year attributable to members of the company amounted to $9.1 million, up from the previous year’s $10.3 million.

It said rough diamond revenue per carat sold for the full year at Mothae was $775, down from the $940 achieved for the first half of 2023.

Earnings before interest, taxes, depreciation, and amortisation EBITDA per carat sold was $90, compared with a loss of $35 in 2022.

The group’s equity-accounted share of Lulo's after-tax profit was $4.2 million, up from $7.7 million in 2022.

Lucapa recorded an attributable EBITDA of $8.3 million in 2023, compared with $10.8 million in 2022. Attributable rough diamond revenue increased from $1,335 in 2022 to $1,425 for the current period, and EBITDA was reduced from $304 to $245 per carat sold.

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