TSX- and Aim-listed Avesoro Resources has reported earnings before interest, taxes, depreciation and amortisation (Ebitda) of $64.6-million for the six months ended June 30, compared with Ebitda of $1.1-million reported for the first half of the 2017 financial year.With a 318% year-on-year increase in production to 128 319 oz of gold, the West African gold producer achieved revenue of about $165.9...Read More
RAPAPORT... Sarine Technologies saw a slight decline in revenue during the secondquarter after orders for its diamond-mapping units fell in India. Total sales fell 1.1% year on year to $18 million for the threemonths ending June 30. Revenue from India declined 5% to $12 million, even as 16 of the 20 Galaxy systems that Sarine sold during thequarter were in that market. North America sales tumbled...Read More
RAPAPORT... India's Gem & Jewellery Export Promotion Council (GJEPC)will open an office in China's Shenzhen Rough Diamond Exchange (SRDE) in aneffort to promote trade between the countries.GJEPC chairman Pramod Agrawal signed a Memorandum ofUnderstanding (MOU) with Julius Zheng, vice president of the SRDE, at the IndiaInternational Jewellery Show (IIJS) in Mumbai last week. Under the MoU, the...Read More
RAPAPORT... A ring featuring an untreated 7.16-carat Russian emeraldtook the top prize at the 2018 American Gem Trade Association (AGTA) SpectrumAwards. Joseph Ambalu, of New York-based Amba Gem Corp., won theBest of Show award for the piece (pictured), which was set in platinum andyellow gold, and accented with diamonds. The design competition took place inNew York last week. The Best Use of Col...Read More
RAPAPORT... Mountain Province recorded a net loss in the second quarteras the weaker Canadian dollar inflated its debt levels. The loss amounted to $4.8 million (CAD 6.3 million) for thethree months ending June 30, compared with a $5.8 million (CAD 7.6 million) profita year ago, it said last week. The depreciation of the Canadian currency againstthe US dollar since late 2017 has had a detrimental...Read More
RAPAPORT... Alrosa's sales climbed 16% year on year to $339.1 million inJuly as rough demand remained strong despite the summer lull, the miner saidFriday. "Compared to last year, demand for rough diamonds remainsmore balanced - almost all diamond categories benefit from continueddemand in key markets globally," said Alrosa deputy CEO Yury Okoemov. "In July,there was a minor seasonal softening on...Read More
(IDEX Online) - Royal Asscher has opened a new flagship boutique in Fukuoka Tenjin, the leading downtown shopping district in the Kyushu region. Replicas of Great Britain's Crown Jewels will be on permanent display in the store. The collection lineups include the new limited edition European Architecture Collection, high jewelry and diamond jewelry featuring bridal jewel...Read More
(IDEX Online) - Some of the best British designers will be on display at the inaugural Uniquely UK showcase at this year's International Jewellery London (IJL). A group of 13 leading British designers will bring examples of their signature work to the UK's leading trade event for the international jewelry industry running from September 2-4. An expert team at Goldsmiths' Craft...Read More
RAPAPORT... Mountain Province recorded a net loss in the second quarteras the weaker Canadian dollar inflated its debt levels. The loss amounted to $4.8 million (CAD 6.3 million) for thethree months ending June 30, compared with a $5.8 million (CAD 7.6 million) profita year ago, it said last week. The depreciation of the Canadian currency againstthe US dollar since late 2017 has had a detrimental...Read More
(IDEX Online) - Ernesto Max Elias Tonela, Mozambique's Minister of Mineral Resources and Energy, visited Thailand to meet the directors of the Thai Gem and Jewelry Traders Association (TGJTA) at the Jewelry Trade Center to discuss cooperation between the two countries. Prida Tiasuwan, the 1st vice president of the TGJTA, Henry Ho, president of the Jewelry Trade Center, and the TGJTA board...Read More
(IDEX Online) - ALROSA reported rough diamond sales of $333.8 million in July, and $2.97 billion in the first seven months of this year. ALROSA's rough and polished diamond sales increased by 16% on the year to $339.1 million in July, with polished diamond sales accounting for $5.3 million. In January-July, total diamond sales grew 9% on the year to $3.03 billion, with polished...Read More
(IDEX Online) - A new promotional campaign aimed at highlighting the contribution that the gem and jewelry industry makes to India's economy was unveiled by The Gem & Jewellery Export Promotion Council (GJEPC) during IIJS Premiere 2018. The campaign's central message is portraying the industry as "A Valuable Asset to India". Five different aspects are portrayed to get the message a...Read More
RAPAPORT... India's Gem & Jewellery Export Promotion Council (GJEPC)will open an office in China's Shenzhen Rough Diamond Exchange (SRDE) in aneffort to promote trade between the countries.GJEPC chairman Pramod Agrawal signed a Memorandum ofUnderstanding (MOU) with Julius Zheng, vice president of the SRDE, at the IndiaInternational Jewellery Show (IIJS) in Mumbai last week. Under the MoU, the...Read More
(IDEX Online) - The Department of International Trade Promotion (DITP) of Thailand's Ministry of Commerce will be supporting the 62nd edition of the Bangkok Gems & Jewelry Fair (BGJF) under the theme of Heritage & Craftsmanship. The show aims to highlight Thailand's cultural heritage and the craftsmanship of Thai artisans. The 62nd BGJF is expected to welcome over 20,000 buyers...Read More
TSX-listed Lucara Diamonds’ Karowe mine, in Botswana, delivered 253 diamonds larger than 10.8 ct during the second quarter, ended June 30, representing 10.5% of the total recovered carats.This is also the highest number of specials recovered, by quarter, since production started at Karowe.Advertisement“The Karowe mine continued to perform well in the second quarter, underpinned by the...Read More
Diamcor Mining has recovered six special rough diamonds at its Krone-Endora at Venetia project, in South Africa’s Limpopo province. The diamonds were recovered from material processed through the company's newly upgraded facilities.AdvertisementThe diamonds recovered include a high-quality 18.45 ct gem octahedron rough diamond, two gem-quality rough diamonds weighing 18.56 ct and 14...Read More
The strong performance of the Gahcho Kué diamond mine – a joint venture between De Beers Canada and Mountain Province – is benefitting the junior company’s shareholders, who will receive their first dividend from the diamond miner.The board of Mountain Province, which maintains listings on the TSX and Nasdaq, announced this week that shareholders would be paid a 4c-a-share...Read More
Aim-listed BlueRock Diamonds has reached an agreement with former CEO Riaan Visser that his application for the liquidation of Kareevlei Mining be removed from the court roll, subject to security being provided for the full amount of his alleged claim of about £230 000.Accordingly, the provisional liquidation hearing scheduled for August 10 was cancelled. AdvertisementThe security...Read More
Lucapa recovered several coloured diamonds from its Mothae diamond mine operations in Lesotho, the company announced yesterday.During a bulk sampling program, the company found the following:A 28 carat stone from the North zone of the Mothae kimberlite pipe89 carat yellow from the South-East zone25 carat yellow from the Neck zone12 carat white from the North zone and 2 light pink diamondsThe Motha...Read More
Mumbai IIJS show opens to busy jewelry section, due to pent-updemand after India's 2Q gold jewelry sales -8% to 147.9 tonnes, according tothe World Gold Council. Diamond halls quiet, with larger companies displaying finishedpieces rather than loose stones. Global markets slow and still in vacationmode. Some improvement in US, with retailers focused on custom bridal piecesduring summer wedding seas...Read More