2nd sale Lulo diamond bags strong price!

Lucapa Diamond reports further strong prices from the second sale of diamonds in 2020 from the Lulo alluvial diamond mine in Angola.

The parcel of 1,223 carats of Lulo diamonds achieved gross sales proceeds of US$1.9 million (A$2.84 million), representing an average price of US$1,535 (A$2,324) per carat. The sale brings to US$5.3 million (A$7.9m) total sales of Lulo diamonds to date in 2020 at an average price of US$1,906 (A$2,842) per carat.

Firestone sales over 132K carats in Q2

Firestone Diamonds provides its quarterly update on operations at its Liqhobong Diamond Mine for the quarter ended 31 December 2019 or say Q2, FY 2020.

Diamond recoveries remained of 138K carats against the Q1 of over 201K carats. Overall result says that two sales took place during the quarter at which 132 885 carats were sold while Q1 sales had of 168 612 carats, realising revenue of  US$9.7 million over the revenue of Q1 of US$10.6 million at an average value of  US$73  per carat against Q1 of US$63  per carat.

Karowe diamond production exceeds over guidance!

Lucara Diamond reports its results for the year ended December 31, 2019 & that says, total revenues of $192.5 million generated over 2018 of $176.2 million. Earning in term of carat remained of $468 per carat over 2018 of $502 per carat, during fiscal year 2019.

Strong operational performance registered at Karowe, that is including record production through the plant in 2019, 1: Total tonnes mined of 9.8 million, 2: Ore and waste mined were 3.3 million tonnes and 6.5 million tonnes respectively, 3: Ore processed totaled 2.8 million tonnes, 4: 433,060 total carats recovered, including 29,990 carats recovered from previously milled material against the 2019 guidance of 400K to 425K carats.

Gemfields auctions 64% of the total carats offered

Gemfields announces the result of an auction of predominantly commercial quality rough emerald held in Lusaka, Zambia from 18-21 February 2020. The emeralds were extracted by Kagem Mining Ltd in Zambia- Kagem. The proceeds of this auction will be fully repatriated to Kagem in Zambia, with all royalties due to the Government of the Republic of Zambia being paid on the full sales prices achieved at the auction.

According to the key highlights of the Emerald Auction, revenues remained of USD 11.5 million. Out of the 25 lots offered, 19 were sold is shows a sales of 76% in term of lot while in the term of caratage, 64% of the carats offered were sold at the average price of USD 4.01 per carat.

India Pavilion at DJWE Inaugurated by Sonam Kapoor Ahuja

25th The India Pavilion at the 17th Doha Jewellery & Watches Exhibition (DJWE) was inaugurated by DJWE brand ambassador and Bollywood Diva Mrs. Sonam Kapoor Ahuja in the presence of Indian Ambassador His Excellency P. Kumaran. India Pavilion is one of the highlights of the show.

India Pavilion located at New Luxury area and Concourse area, with 27 exhibitors spread across 31 booths showcases a complete range of products including diamond and studded jewellery with stones like, rubies, emeralds, sapphires and pearls; plain and handmade jewellery catering to the Middle-East and its neighbouring countries. There were also a wide range of contemporary, along with modern jewellery, with detailed craftsmanship and designs inspired by European and Middle Eastern trends over the last few decades.

DGCX Joins UN WEPs

Women’s Empowerment Principles (WEPs) are a set of Principles offering guidance to businesses on how to promote gender equality and women’s empowerment in the workplace!

The Dubai Gold and Commodities Exchange (DGCX) today announced that it is now a signatory of the Women’s Empowerment Principles (WEPs), an initiative by United Nations (UN) Women and UN Global Compact dedicated to promoting women’s empowerment and advancing gender equality in the workplace, marketplace and community.

GIA Graduate Recognized with Awards

GIA (Gemological Institute of America) students put their skills and talent to the test for the third annual Gianmaria Buccellati Foundation Award for Excellence in Jewelry Design. Yi-Hsuan Chiang, who earned her Jewelry Design certificate at the GIA Taiwan campus, received the top honor at the GIA Alumni Association event in Tucson, AZ on Wednesday, Feb. 5. In addition to the recognition, Chiang will travel to Italy to meet Rosa Maria Bresciani Buccellati, president of the foundation, and visit the foundation’s collection.

“All of the students’ designs exhibit immense natural talent, revealed through the techniques they learn in the Jewelry Design course at GIA,” said Laurie Bailyn, senior manager of jewelry manufacturing arts, research & development. “Yi-Hsuan’s piece exhibited exceptional detail and craftsmanship.”

Sarine Expands Profitability in Q4 2019

Sarine Technologies Ltd announced its financial results for the fourth quarter and year ended 31 December 2019.

Q4 2019 and FY2019 Financial Results Review:

With a gradual stabilisation of industry conditions in the second half of 2019, the Group was able to reverse the net loss of US$2.8 million (mostly non-cash) in the first half of FY2019 into a modest net profit of US$0.2 million in Q3 2019 with further improvement on profitability to US$1.2 million in Q4 2019.

Gemfields began on London’s AIM market

Fittingly for a coloured gemstone company, Gemfields began trading on London’s AIM market on 14 February. We continue to see significant value in this stock, which was previously under the radar, and our updated sum of-the-parts valuation is US$522m (previously US$449m).

The removal of the 15% export duty on Zambian emeralds has a significant positive impact on Kagem, which we now value at US$246m (previously US$153m). We expect Gemfields to generate US$75m in EBITDA in 2020 (previously US$59m), putting it on a 2020e EV/EBITDA of just 1.8x.

Alrosa sells 6 carat diamond to Larry West

For over 40 years, Larry J. West, the owner of New York’s L.J. West Diamonds, has been searching for the most extraordinary natural color diamonds in the world. His magnificent collection has been featured in museums like the Natural History Museum of Los Angeles County and worldwide Auctions.

“As global production declines, pink diamonds will become rarer and thus more valuable,” said Larry West. “This is the first diamond from Russia that I have bought directly from Alrosa. It possesses excellent characteristics and will certainly take a worthy place in my collection.”