Dmitry Fedorov: I want our jewelry to be displayed at a museum in the future

Dmitry Fedorov is the founder of the eponymous jewelry house. His main focus is the creation of Orthodox-inspired premium luxury jewelry of high artistic merit. He told Rough&Polished about his journey in the jewelry industry, about choosing the ‘Orthodox...

28 october 2024

Responsible business practices ‘no longer optional’, says WDC President Feriel Zerouki

The president of the World Diamond Council takes time out of her busy schedule to tell Rough&Polished readers about the critical work of the WDC. Zerouki, the first female present of the body, which includes all the important industry organizations among...

14 october 2024

James Campbell: Botswana Diamonds optimistic as it enters uncharted territory of using AI for mineral exploration

London-listed Botswana Diamonds has expressed optimism about the company’s use of artificial intelligence (AI) to scan the exploration database in Botswana to look for new mineralised deposits. Company managing director James Campbell told Rough...

07 october 2024

Artur Salyakayev: For me, happiness is freedom to make my ideas happen and create valuable products

Artur Salyakayev is an art entrepreneur, founder of the International Jewelry Academy (IJA) and the INCRUA jewelry company. He has initiated and developed successful projects in jewelry industry and services sector. He is also a leading expert...

30 september 2024

Paul Zimnisky: China key for sustained recovery in demand for natural diamonds, prices

The curtailing of upstream and midstream natural diamond production in the past months is starting to have an effect on prices, according to the New-York-based independent diamond and jewellery analyst and consultant, Paul Zimnisky. He told Rough & Polished’s...

23 september 2024

Mountain Province revenue and sales up in Q3 2024

24 october 2024

Mountain Province Diamonds has reported a rise in revenue and carats sold during the third quarter of 2024, while its production volumes fell.

The company sold 679,599 carats of rough diamonds for $50.8 million at an average price of $75 per carat in Q3 2024 as compared to 478,653 carats sold for total proceeds of $45.3 million at an average price of $95 per carat year on year.

Meanwhile, its diamond production for the reporting quarter has decreased by 10% to 1,187,912 carats, from 1,326,160 carats in Q3 2023.

The company has maintained its production guidance for 2024 at 4.2 - 4.7 million carats, expecting it to be in the mid to upper portion of this range. Total tonnes mined is expected to finish lower than the bottom of guidance of 36 million tonnes.

"The rough diamond market during Q3 was unsettled by continued price decreases announced by leading polished diamond price indices. This was compounded by reports of delayed polished buying by downstream retailers and precipitated sales of polished stock by the industry midstream. Many rough producers addressed this by cancelling or delaying their rough diamond sales during the third quarter,” said Reid Mackie, Vice President of Diamond Sales and Marketing at Mountain Province.

“For Mountain Province, which held its usual two scheduled sales during the quarter, prices achieved were largely stable. We look forward to the upcoming holiday season demonstrating demand for diamond jewellery at retail and firming up rough diamond market sentiment."

Theodor Lisovoy, Managing Editor, Rough&Polished