Stornoway Diamond Corporation has announced 2016 production results from its Renard Mine in Quebec that far outstrip its projected output. For the year ended December 31, 2016, Stornoway mined 2,074,827 tons of ore from the Renard 2- Renard 3 and Renard 65 open pits, compared to a plan of 879,641 tons (+136%).
India's Gem & Jewellery Export Promotion Council (GJEPC) has issued a press release stating that exports of cut and polished diamonds in FY16 (April 2015 - March 2016) fell 13.66% to $20 Bn, while net imports of rough diamonds dropped 16.17% to $14 Bn. Cut and polished diamonds accounted for 52% of gross gems & jewelry exports in FY16. Overall, India’s exports of gems and jewelry dropped 3.46% in FY16 to $38.6 Bn as compared to $40 Bn in FY15. Mr.
The Antwerp World Diamond Centre (AWDC) today announced the Antwerp diamond trade figures for 2015, noting a nearly 18% overall decline in imports and exports in comparison to the record year of 2014. Antwerp traded 48.3 billion USD in 2015 compared to 58.8 billion last year. The rough trade found it particularly difficult in the face of the massive downturn in the manufacturing industry and the widespread glut of rough diamond supply, as the value of exports and imports both fell by approximately 25%.
The Johannesburg-listed firm recorded strong earnings for the financial year ended March 31, as operations recovered from losses the year before, with net earnings up sharply.
The "dry facts" of 2014, indicating an increase of close to one percent in export, do not tell the true story of the year. Its most prominent feature was fluctuation in the prices of both rough and polished diamonds.
The World Bank claims that 2014 marked a turning point in the global economy, and it is forecasting world growth of up to 4% in 2015, compared with 3.4% in 2014 and 2.4% in 2013 - an increase that will directly impact on the consumption of luxury goods, in general, and diamond jewelry, in particular.