Post Covid-19, full support to restart MSMEs

Full government support to MSMEs post Covid-19

Gadkari assures industry representatives of full government

Support for restarting enterprises after Covid-19 lockdown!

Union Minister for Road Transport & Highways and MSMEs Shri Nitin Gadkari has assured the industry of full cooperation from the government in restarting their enterprises after the lockdown is lifted post Covid-19. Interacting with FICCI representatives on a web based seminar, the Minister informed them about the various financial decisions taken by the government in this direction.

Lucara production outlook for 2020 uncertain

Lucara Diamond announced today that it has implemented a crisis management strategy in relation to COVID-19, to protect the health and well-being of its employees in Botswana and Canada. Lucara's 100% owned Karowe Diamond Mine, situated in north central Botswana remains fully operational, under new measures and guidelines implemented by the Government of Botswana ("GRB") earlier this week. 

These measures include increased travel restrictions, reduced staffing and increased social distancing pertaining to all aspects of its business. Employees who are able to work remotely are doing so.  As travel restrictions relating to COVID-19 are expected to remain in place for an unknown period of time, the Company's ability to complete tenders in Botswana may be impacted.  As a temporary measure, the Government of Botswana has granted Lucara permission to hold diamond sales in Antwerp, Belgium if required.

Gemfields in record high revenue

Gemfields, the owner of 75% of Kagem Mining Limited, boosted its group-wide revenue by 5% in 2019, exceeding US$200 million of income from emerald and ruby auctions for the first time. Total group revenue rose to a record high of US$216.2 million from US$206.1 million in 2018, following six successful auctions of emeralds from Zambia and rubies from Mozambique.

Kagem, which is 25% owned by the Zambian Government through the Industrial Development Corporation (IDC), contributed close to US$80 million of Gemfields’ overall revenue. The Lufwanyama-based Kagem emerald mine continued its run of robust growth throughout 2019. Total rock handling at Kagem increased to 12.6 million tonnes from 11.9 million tonnes in 2018. Overall production in 2019 amounted to 36.3 million carats at an average grade of 228 carats per tonne.

Nexus Gold Signs LoI with Leocor Ventures

Nexus Gold Corp has entered into a binding Letter of Intent (LoI) with Leocor Ventures Inc, pursuant to which the parties intend to cooperate in the development of the recently acquired Dorset Gold Project, located in the Province of Newfoundland, south of the Pine Cove Gold Mine.

The Letter contemplates a transaction in which Leocor is granted the right to acquire up to a one-hundred percent interest in the Project in consideration for completing a series of cash payments totaling $1,250,000 over a four year term, with a cash payment of $100,000 upon the execution of definitive documentation, and incurring expenditures on the Project of at least $1,500,000 over a five year term.

The iconic watches of the Maison Chaumet

The iconic watches of the Maison Chaumet – Boléro, Hortensia Éden and Dandy – are available in new models this spring. At this time when the disrupted course of current affairs is almost all that is on anybody’s minds, it is a pleasure for us to sometimes be able to speak about something else, and to introduce you to new creations.

Boléro, Hortensia Éden and Dandy each claim to be a guarantee of the “uniqueness of a personality, a state of mind or a vision of elegance”.  Whilst the elegance of Dandy is aimed at men, it is the new versions of Boléro and Hortensia Éden on which diamonds are so beautifully represented that have made Rubel & Ménasché decide to stop and take a look.

Retailer speaks at GJEPC webinar!

Recently GJEPC organised webinar, Jewellery Business Post Covid-19 lockdown where known retail players participated & expressed their views including, Fatehchand Ranka, Ranka Jewellers, Western Region, Anil Talwar, Talwarsons Jewellers, Northern Region, Suvankar Sen, Senco Jewellers, Eastern Region, Rajesh Kalyanaraman, Kalyan Jewellers, Southern Region, Chandraprakash Siroya, Siroya Jewellers LLC, International, Dubai.

India supports exporters to soften hardship

Update 1: Department of Commerce has provided a number of Relaxations /Extensions of various

Compliance Deadlines etc to address Corona Pandemic Related Hardships of Exporters!

In order to give relief to businesses and affected individuals amidst the stress caused by the novel coronavirus pandemic, Department of Commerce, Ministry of Commerce and Industry has introduced several relaxations and extensions in deadlines etc. with regard to compliances mandated under its schemes and activities. The key relaxations pertaining to the Department of Commerce are as follows,

Hummingbird sold gold of 24,575 ozs in Q1

Hummingbird Resources provides the update for the first quarter 2020, at its Yanfolila Gold Mine in Mali.

Yanfolila Operational Highlights indicates, 30,282 ozs of gold poured in Q1 2020 over the 33,892 ozs in Q4 2019. US$875/oz AISC recorded in Q1 2020 while US$839/oz AISC were recorded in Q4 2019.

24,575 ozs of gold sold in Q1 2020 at an average price of US$1,568/oz and 2020 Exploration program well established with over 1,200m of drilling completed so far! Total Recordable Injury Frequency Rate at 2.3, meeting target of lower than 2.5.

Eldorado expansion permit approved

Eldorado Gold Corporation reports that, it has received a Certificate of Authorization from the Quebec Ministry of Environment to allow for the expansion of underground production from the Triangle deposit at Lamaque from 1,800 tonnes per day (tpd) to 2,650 tpd, once operations resume.

Effective March 25, 2020, Eldorado will ramp down operational activity and maintain only essential personnel on site responsible for maintaining appropriate health, safety, security and environmental systems. The Company remains committed to resuming operations in a timely manner once the suspension is lifted.

IEG re-scheduled Oroarezzo to July

Italian Exhibition Group (IEG) today decided to move Oroarezzo 2020 (OA) to July and is working to guarantee customers, visitors, partners and, of course, its own workers, with the highest safety standards. OA 2020 will be held from Saturday 18th to Tuesday 21st July in the Arezzo Expo Centre with a proactive listening approach

on the part of IEG and a punctual response to sector companies that have been at a standstill for weeks due to the health crisis.