NEWS

Alrosa Q3 produces 10.5 mn carats

Alrosa Q3 produces 10.5 mn carats

According to Alrosa, a global leader in diamond production, reports its Q3 2018 and 9M 2018 production and sales, Q3 2018 diamond production grew by 23% q-o-q (up 2% y-o-y) to 10.5 m carats due to seasonal growth in output at alluvial deposits, an increase in ore and gravels processing, and the ramp-up of the recently launched assets to design capacity.

 

An 11% decrease in 9M output 2018 to 26.4 m carats was mainly due to the shutdown of the Mir underground mine (UM) and the completion of open-pit mining at the Udachnaya pipe. In Q3 2018, the volume of processed ore and gravels grew by 70% q-o-q (up 10% y-o-y) to 17.2 m tonnes, due to seasonal return to production at alluvial deposits.

 


 

De Beers Q3 production reaches 8.7mn cts

De Beers Q3 production reaches 8.7mn cts

Anglo American just announced its Production Report for the third quarter ended 30 September 2018. At the juncture Mark Cutifani, Chief Executive of Anglo American, said, “Our focus on driving efficiency and productivity across the business resulted in another strong quarter, with volumes 1% higher than the solid operational performance seen in Q3 2017.

 

Production per employee has increased by 5% in 2018, compared to 2017, as we maintain relentless discipline on controllable costs yet, more than offsetting planned lower volumes at De Beers and the impact of rail infrastructure constraints at Kumba in the first half of the year.”

 


Firestone sold 194206 carats in first sale

Firestone sold 194206 carats in first sale

Firestone Diamonds, a new diamond producer with operations focused in Lesotho, provides its quarterly update on operations at its Liqhobong Diamond Mine for Q1 of the Company's 2019 financial year. According to the summary, first lost time injury recorded in the quarter after 6.7 million hours worked LTI-free since July 2014, with the employee returning to work three days later.

 

About 240,733 carats recovered with cost per tonne treated of US$10.05 substantially lower than FY19 guidance of US$15-16 per tonne treated. In the Q1, a total of 194,206 carats sold in first sale of the financial year while that was 261,985 carats in Q4, FY18, realising revenue of US$13.5 million in Q1 2019 was lower than Q4, FY18 had earned US$18.6 million.

 


 

New board members elected for AJA!

New board members elected for AJA!

AJA General Assembly was held in the Association’s headquarters in MERIDIAN Expo center. The meeting was attended by AJA members, representatives of jewelry industry from different countries. AJA chapters’ boards worldwide offered candidacies from their Board members to be elected to AJA International Board.

 

The newly elected Board proceeded to AJA Executive Board elections. The following members were elected unanimously: President: Krikor Yessayan (Lebanon), Vice-President: Aris Demir (Istanbul), Vice-President: Leon Haytayan (AJA West Coast USA), Vice-President: Zohrab Istanboulian (Thailand), Treasurer: Anna Vardanyan (Armenia) & Secretary: Ruben Kotanchyan (Russia).

 


Signet appoints Independent Director

Signet appoints Independent Director

Signet Jewelers Limited, the world’s largest retailer of diamond jewelry, announced that its Board of Directors has appointed Zackery A. Hicks as an Independent Director, effective October 26, 2018. Hicks currently serve as Executive Vice President and Chief Digital Officer of Toyota Motors North America (TMNA) Inc and President and Chief Executive Officer of Toyota Connected Inc.

 

Signet Jewelers Announces Appointment of Zackery A. Hicks to Its Board of Directors “As part of our Path to Brilliance transformation plan, we identified the need to continue to strengthen our digital and data analytics capabilities across Signet to advance each of our three strategic priorities – Customer First, Omnichannel, and a Culture of Agility and Efficiency,” said H. Todd Stitzer, Chairman of Signet’s Board of Directors.

 


Diamond Shines with SS Jewellers

Diamond Shines with SS Jewellers

‘Make Hay While the Diamond Shines’ this party season as SS Jewellers introduces a splendid diamond edition. This magnificent ensemble comprises of earrings, neckpieces, bracelets and cuffs and is carved out in combination of rose, yellow and white gold in 18k. Furthermore, this edition has been studded with fine cut diamond.

 


Alrosa pilots Tracr platform!

Alrosa pilots Tracr platform!

Tracr, the end-to-end diamond industry blockchain traceability platform being developed by De Beers Group in collaboration with industry stakeholders, is pleased to announce that Alrosa has joined the platform’s pilot programme. Alrosa will join industry leaders from the diamond manufacturing and retail sectors in creating the blockchain platform by the industry, for the industry.

 

Following the announcement of the Tracr pilot earlier this year, Alrosa’s involvement brings the world’s two largest diamond producers together to provide enhanced assurance for consumers and trade participants about the provenance and authenticity of their diamonds, and in creating a digital foundation for new services that can only be developed on an end-to-end platform.

 



 

 

Petra Diamonds appoints Varda Shine!

Petra Diamonds appoints Varda Shine!

Petra Diamonds Limited announces the appointment of Mrs Varda Shine and Mr Bernard Pryor to its Board as Independent Non-Executive Directors, with effect from 1 January 2019.

 

These appointments have been made in accordance with the Nomination Committee’s three year Succession Plan which is in line with Petra’s development from a phase of intensive capital expenditure and expansion to a focus on steady-state operations.

 


 

 

Kagem discovered 5655 carat emerald!

Kagem discovered 5655 carat emerald!

Kagem Mining has discovered an exceptionally rare high quality 5,655 carat (1.13kg) emerald crystal at its mine in Lufwanyama. The emerald – dubbed ‘Inkalamu’, the Lion Emerald - shows remarkable clarity with a perfectly balanced golden green colour, and is already creating a buzz in the global gemstone industry ahead of its auction in Singapore next month in November.

 

Inkalamu was discovered at Kagem, the world’s largest emerald mine, which is 75% owned by London-based Gemfields and 25% by the Zambian government through the Industrial Development Corporation of Zambia. “The discovery of this exceptional gemstone is such an important moment both for us and for the emerald world in general” commented Gemfields’ London-based gemmologist Elena Basaglia.

 


A good demand for small & big ticket items!

A good demand for small & big ticket items!

Ishu Datwani, Founder-Anmol says, “Gold temple jewellery & classic diamond jewellery is trending this festive season. We're expecting an increase in demand for both gold & diamond jewellery this festive season. It is also the onset of the wedding season, so there will be a good demand for small & big ticket items. Keeping these factors in mind, we are expecting at least 20-25% increase in sales.”

 

By looking at the season at latch, Tanya Rastogi, Director-Lala Jugal Kishore says, “The increased rate of gold has worked in favor of the metal and the industry, as the consumer is reminded that gold is still an investor friendly metal. There is a lot of promotion and buzz around offers and collection launches around this season.” On the other hand, the consumer is expected to make small purchases this year due to the high price but a good footfall and sales are expected.

 


 

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