Archive

  • Lucapa Q1 Results Down, Q2 Starts Promising

    30/04/2024 07:21

    Lucapa, operating the Lulo mine in Angola and Mothae in Lesotho, reports Q1 results were down with revenues clocking at US$13.1m, down 28% y-o-y, and rough prices down 41%, from avg 1,350US$/ct to 798US$/ct. Lulo production focused on lower grade areas due to flooding, resulting in low grades in carats recovered, while Mothae production improved in terms of carats recovered but with a significantly lower frequency of exceptional, high value diamonds.

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    Rough Market

  • Petra Diamonds Soars with $8.2m Blue Diamond Sale

    25/04/2024 22:01

    Petra Diamonds recently made headlines with the sale of an exceptional US$8.2 million blue diamond, propelling its fifth tender of FY 2024 to new heights. Despite selling fewer carats, Petra achieved higher prices, with an average of US$136 per carat on sales of 362,000 carats, totaling US$49 million.

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    Rough Market

  • India Gem And Jewellery Exports Up by More Than 8 %

    09/01/2023 14:22

    India’s gem and jewellery exports have seen an increase of 8.26 percent in the current financial year, thanks in part to the Comprehensive Economic Partnership Agreement (CEPA). The Indian government has taken several steps to support the gem and jewellery industry, including the implementation of a simplified regulatory framework for exports through e-commerce, reduced duties for the import of diamonds and a new gold monetization policy.

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    Finance and Trade

  • Luxury Jeweler De Grisogono Files for Bankruptcy Following Luanda Leaks

    29/01/2020 11:22

    Swiss luxury jeweler de Grisogono, whose long-alleged history of shady deals with Angola was recently exposed by the International Consortium of Investigative Journalists (ICIJ) and 36 media partners, has filed for bankruptcy in Geneva, according to multiple news outlets. The jeweler is owned in part by the husband of Isabel dos Santos, the billionaire daughter of former president José Eduardo dos Santos, who is facing allegations of having pilfered Angolan state-owned companies. The company owes more than 1.4 million francs to its Swiss suppliers and is facing insolvency.

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    Jewelry

  • Gold Demand in H1 Highest on Record; Jewelry Demand -14% in Q2 (7-Year High in U.S.)

    17/08/2016 11:42

    Record high prices for gold (the price of gold rose 25% in the first half of 2016, its strongest performance in 35 years) has led to a record surge in H1 investment demand of 1,063.9t, which was 16% higher than the previous H1 high from 2009, as continued growth in Q2 2016 (+15%) brought total H1 gold demand to 2,335t - the second highest first half on record, according to the World Gold Council.

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    Economy