After completion of all modifications of the processing plant

The company Firestone Diamonds reported that in the third quarter of the current fiscal year on a diamond mine Likhobong (Liqhobong) 103,000 carats were produced in Lesotho, among them - 31 stone special sizes weighing over 10.8 carats.
Diamond content in the rock was 16.1 carats per hundred tons of ore, which was better than 14.1 carats per hundred tonnes of ore in the previous quarter. Only 58,000 carats were produced in the second quarter.
The planned modification processing plant during the quarter led to the fact that in March 2017 the content of diamonds increased even more significantly, to 20.1 carats per hundred tons of ore.
"The final phase of the enterprise commissioning led to the achievement of design capacity on a number of parameters, which is a very positive result, especially in the rainy season," - said CEO of Firestone Stuart Brown (Stuart Brown).
"Now our focus has shifted towards areas with better rock which will be processed closer to the end of the current quarter," - he added.
After completion of the third quarter Firestone failed to produce gem-quality yellow diamond weighing 110 carats, the stone became the largest of the detected company to date.
Now, as expected in the Firestone, the end of the financial year the total production will be about 300 000 carats after completion of all modifications of the processing plant.
. "Although the expected rate of less than the lower limit of the previous forecast of the company is very pleased to improve the content of diamonds in the ore This fact improves the financial position Likhobong before processing rock with a high content of stones in the coming months", - stated in the Firestone.
Meanwhile, the company organized two diamond sales, which took place in February and March in Antwerp. All 127 590 carats of diamonds at an average price of $ 107 per carat was sold, revenues amounted to $ 13.7 million.
As of March 31, the volume of Firestone cash was $ 5.0 million, which does not include the proceeds from the sale of the second diamond parties for $ 5, 5 million and $ 15 million, available as an additional line of credit.

We have seen a steady improvement in the results

Mountain Province Diamonds reported that the sale of diamonds from the project Gacho Quay (Gahcho Kué) fell below expectations in the first quarter of 2017, ended March 31.
During the quarter, Mountain Province has carried out three pre-sales of diamonds mainly from the North-eastern part of the kimberlite 5034, the prices of which were lower than expected. Meanwhile, the company expects that this situation will improve as the normalization of market conditions and get more production from the Central share of kimberlite 5034.
Final sales figures will be published May 11, 2017, together with the results of the company for the first quarter.
President and CEO of Mountain Province, Patrick Evans (Patrick Evans) commented: "The sale of diamonds in the first quarter reflect the release of the new entrants to the market, as consumers become familiar with the selling price of the company's products Unexpected obstacles due to demonetization in India exacerbated the customary weakening of prices in the period. find their optimal value. it is important to note that we have seen a steady improvement in the results of our early sales, and we are very pleased that 72% of the winners in the March auctions were repeat buyers . We expect that by the middle of the year will complete the process of finding the best prices, and their values will reflect market conditions. "
During the first quarter of 2017 on the project Gacho Quay were collectively processed approximately 492,000 tonnes of ore and recovered about 867,000 carats, while the average content of the stones was approximately 1.76 carats per tonne of ore.

Specific dimensions of the diamond

Sociedade Mineira Do Lulo (SML), 40% owned by Lucapa Diamond, reported a 54 percent drop in revenue from diamond sales to $ 10.7 million in the first quarter of 2017, versus $ 23.1 million a year earlier.
In the reporting period, the company sold 4,498 carats for $ 10.7 million. Meanwhile, in the first quarter of 2016 sales amounted to 1,931 carats for $ 23.1 million.
The decline compared with the previous year due to the fact that in the first quarter of 2016 the company managed to obtain and implement a diamond weighing 404 carats for $ 16 million.
The Lucapa reported that SML diamond stocks at the end of the quarter amounted to 2545 against 1346 carats carats a year earlier.
Meanwhile, in Lucapa noted that the production of SML in the first quarter increased by 33% and amounted to 4098 against 3087 carats carats in the same period a year earlier.
Index special diamond production increased by 58% to 38, which, in the opinion of Lucapa, even more confirms the possibility of a regular production of large and valuable diamonds in Lulo project (Lulo).
Among the specific dimensions of the diamond - the second largest diamond produced from Angola 227 carats relating to color IIa type D, as well as other large stones weighing 92, 62 and 65 carats.

Auction market: high-quality diamonds and precious stones

On New York's Sotheby's auction on Tuesday was sold jewelry at $ 29 million.
To remain anonymous private Asian buyer spent $ 5.3 million on a pair of diamond earrings from internally flawless diamonds emerald-cut D, one of which weighs 20.29 carats, and other - 20.02 carats. Preliminary estimate for this product ranges from $ 4.5 to $ 5.5 million.
Five of the proposed lots in the auction have collected seven figures, according to Sotheby's. Suspension from internally flawless pink diamond pear-cut diamond weighing 11.19 carats sold for $ 2.4 million, or $ 215,594 per carat. Another fancy gray-blue diamond emerald cut diamond weighing 5.07 carats VVS2 purity went under the hammer for $ 1.6 million, or $ 310,158 per carat.
Emerald diamond ring "Stotsberi» (Stotesbury), created by Harry Winston, was sold for $ 996 500. The whereabouts of the Colombian emerald ring weighing 34.40 carats was formerly known since 1971, when it last appeared at auction Sotheby's, said the company reported.
"Today's excellent results cover each of the categories, which in recent seasons ensures the growth of the auction market: high-quality diamonds and precious stones, signed and historical jewels, as well as products with a known origin," - said Geri Shuler (Gary Schuler), head of the division Sotheby's on sale of jewelry in North and South America.

Largest mining companies

Diamond trade slowed in April, which was the result of the seasonal decline in the market in the traditionally quieter second quarter. Due to improved retail expectations in China, where the jewelry market is showing signs of recovery, market sentiment remained positive despite lower trading volumes.
The focus has shifted towards the United States prior to the annual show in Las Vegas, as the hype around the March Hong Kong fair subsided. Dealers to refrain from closing deals, hoping that Las Vegas will enhance its activities in the market.
Diamond index RapNet (RAPI) for 1-carat diamond decreased by 0.3% in April and 1.4% in the year.
Despite the decline in diamond market indicators, trade in rough diamonds is gaining momentum.
Diamond production has returned to almost full capacity since the major Indian factories stepped up their operations after the November break at the Diwali Festival. Runoff diamonds grow, and the number of stones on display on the site RapNet, increased by 3.5% in April and by 7.5% from 1 January.
Strong commodity markets have allowed the largest mining companies - ALROSA and De Beers - cut diamond stocks, as their total sales in the first quarter exceeded the production of 11.9 million carats. It is expected that world production of diamonds will increase by approximately 12% in 2017, as mining companies have made a commitment to produce products in line with demand.
Rapaport The monthly report for May 2017 notes that the rapid diamond market is not supported by the current level of demand for diamonds. Diamond prices strengthened by 2% - 3% from the beginning of the year, while the polished diamond prices declined. The volume of diamond imports to India grew in volume in the first quarter, while the volume of the diamond trade in India and Belgium decreased.
The continuation of these trends will put pressure on the facet sector as liquidity and profitability could be undermined. After a period of increasing profits and responsible trade in 2016. The manufacturers should proceed with caution, since the diamond market tends to slow down during the second quarter.

The agenda has not been changed for the consideration

(brisbanetimes.com.au). Members of the intergovernmental meeting, which welcomed Australian Foreign Minister Dzhuli Bishop (Julie Bishop) in Perth, told about the "disgusting" and "extraordinary" scenes from the Chinese government delegation, shout greetings ceremony of the host country and forced to suspend it.
Later, a Taiwanese delegation has been removed by the meeting of the Kimberley Process, at the request of the Chinese delegates, who objected to her presence.
The Ministry of Foreign Affairs and Trade of Australia has confirmed that it has expressed its concern to the Chinese Ambassador in connection with the incident.
The participants of the Kimberley Process intersessional meeting described the unusual scene, telling how the Chinese delegation noisily violated the official welcoming ceremony host and forced to suspend at least one more meeting on Monday.
Members of the Chinese delegation used the microphone at his desk, to drown out the chairman of meetings of senior officials from the Ministry of Foreign Affairs and Trade of Australia Robert Owen-Jones (Robert Owen-Jones), as he tried to Foreign Minister Dzhuli Bishop and open ceremony host the welcome, told those present.
The Chinese delegation said that it has comments on the point of order and asked to find out whether all are in the hall were "officially invited."
Interruption lasts as long as the agenda has not been changed for the consideration of the so-called "point of order" as the first item. Only after this has been allowed to continue welcoming ceremony, followed by a performance of Dzhuli Bishop.
"It was disgusting, - said a senior Australian member who asked not to be naming his name. - It was out of the ordinary, so unsuitable, inappropriate and disrespectful it looked. "
According to the information of the media holding Fairfax Media, another session, held later in the morning, which was held a panel discussion with the heads of mining companies, it was completely abolished because of the constant heckling from various African delegations in support of China's position.
Negotiations then began between the Chinese and Australian sides, after which the Taiwanese delegation has asked to leave and the program resumed the conference.

Company still has to pay 30% of its share for public use

Tanzania said that it will continue to work with key stakeholders in the mining industry, particularly from the private sector, in order to create favorable conditions for the segment of mineral production in the country.
Regional Commissioner for the district Manyara (Manyara) Dzhoel Bendera (Joel Bendera), officially opened the 6th in a row fair gems in Arusha, Tanzania, said that his country is looking forward to build on the success and make Arusha center of trade in precious stones in Africa.
"We are determined to reform the various problems facing the industry, and we promise to work closely with the private sector", - he said.
Tanzania has introduced new rules for operating in the country of mining companies to promote local ownership and building capital markets, which should come into force until August 23 this year.
Recently, Petra Diamonds said it is in talks with the Government of Tanzania to transfer his 30 per cent share of the mine Williamson (Williamson) according to the new requirements and the listing on the Stock Exchange of Dar es Salaam.
Tanzanian government already owns a 25 percent stake in the mine Williamson.
However, some officials have argued that the government's stake in Williamson Diamonds is not public, and therefore the company still has to pay 30% of its share "for public use".
Meanwhile, the regional commissioner said that the fair jewels in Arusha is a consequence of the country's policy in respect of mineral resources in 2009, which was adopted with a view to make Tanzania a center of trade in precious stones in Africa through enhanced action to increase the value added and trade in precious stones.

Who buy the range of cheaper diamonds

De Beers has received $ 520 million in the fourth rough diamond sales cycle, compared with $ 636 in the same period a year earlier.
Although this figure is preliminary, final sales cycle was weaker compared to the third cycle of sales for the year in which the company earned $ 586 million.
Thus, recent bids for De Beers became worse for the current year.
"We continue to see strong demand for rough diamonds, despite the fact that the industry is part of a typically quiet season", - said Bryus Kliver (Bruce Cleaver), CEO of De Beers.
"Sentiment remains positive to the important trade fair in Las Vegas in early June", - he added.
Russian ALROSA in April received $ 310.2 million from the sale of rough diamonds, while the sale of diamonds valued at $ 7.6 million.
De Beers' the beginning of the year on strong footing, having received at its first site $ 729 million. Group saw good demand in most rock categories.
She also failed to register a higher than normal volume of sales in the first quarter after a recovery in demand for small-sized diamonds in the first cycle of sales in 2017.
Devid Dzhonson (David Johnson), Senior Team Leader, Media and Commercial Relations, said in an interview to Rough & Polished, that the sudden hold demonetization in India at the end of 2016 led to a temporary reduction in demand for smaller diamonds of lower quality from the industry's cutting and polishing India.
"We were forced to temporarily resort to some additional flexibility to sight holders who buy the range of cheaper diamonds after the introduction of demonetization program in India, as we understand the challenges that may face some buyers, as they adapt to the new monetary environment", - he said .

Exports of gold jewelry from India

In April 2017 India's polished exports fell by 1.7% compared to the same period last year, to $ 1.75 billion, versus $ 1.78 billion in April 2016. This is evidenced by the preliminary data of the Council to promote the export of gems and jewelery (Gem and Jewellery Export Promotion Council, GJEPC).
Rough imports fell by 7.3% in value to $ 1.74 billion in April 2017, compared to $ 1.88 billion in April 2016. In volume diamond imports rose 10% to 16.92 million carats against 15.41 million carats in the same period of the previous year.
The total volume of exports of jewelery segment of the country in April 2017 amounted to $ 3.73 billion, which is 15% higher than a year ago to $ 3.24 billion.
Imports of all products for the jewelry segment increased by 7% to $ 3.16 billion, versus $ 2.95 billion in the same period a year earlier.
Exports of gold jewelry from India in April fell 32.3% to $ 497.35 million, versus $ 735.3 million a year earlier. The export of gold medallions and coins increased immediately by 83% to $ 553.6 million, from $ 302.67 million a year earlier.

Provide favorable for domestic and foreign investors in the business environment

Botswana intends to create a special economic zone, which will be located near the international airport Seretse Khama outside Gaborone, where, according to media reports, the "anchor company" will be the Diamond Trading Company (DTC).
Royal HaskoningDHV will be responsible for establishing the general plan of the zone in a joint venture with its local branch.
Namibia Economist reports that the Special Economic Zone Authority to provide favorable for domestic and foreign investors in the business environment.
Botswana has been allocated eight strategic areas to promote the development of a number of branches, which are designed to diversify the economy through the public sector, the private sector and partnerships between the public and private sectors.
The economic zone will house the center of the diamond trade, which will coordinate the economic activities in the diamond sector, the implementation of beneficiation in the diamond trade and diamond cut in, in the manufacture of jewelry and secondary trade in diamonds and diamonds.
"Special Economic Zone at the airport - it's an exciting six-month project, which is scheduled for completion by the end of August 2017 It fits in well with our mission to help business development and employment opportunities in our continent.", - said the director of the Royal HaskoningDHV for strategic development of the transport and planning business Africa Uken Manfred (Manfred Uken).
"It will complement the work that we are already in an area close Aerotropolis International Airport King Shaka in Durban, South Africa", - he added.

Diamantaires become the guardians of quality in the industry

Hong Kong agency to promote the diamond industry is planning to start checking the inventory of wholesale diamond dealers on the contents of synthetic stones as part of a program aimed at increasing consumer confidence and giving retailers greater confidence in transactions, according to Rapaport reported.
Diamond Federation of Hong Kong (Diamond Federation of Hong Kong, DFHK ) carefully examines trade retailers stocks using the National guarantee diamond Quality Initiative (Natural Diamond Quality Assurance, NDQA) since the beginning of 2015. Jewelers who subscribe to participate in this scheme, subjected to a random sample of its diamonds and jewelry laboratory tests - as in joining the program, as well as during the annual process of updating the data. In turn, they can display a symbol of quality programs in their stores.
But until now, the scheme does not cover the wholesale sector, which includes the majority of the DFHK. This is the next step for NDQA, which will help diamantaires become the guardians of quality in the industry, said Chow Kit Shing (Chow Kit Shing), vice-chairman of the retail trade in DFHK.

Results throughout the project, reflecting the medium-term and long-term potential

Dominion Diamond Corporation found that in an undeveloped part of Ekati mines (Ekati) in Canada can be up to 16.3 million carats, according to Rapaport.
At Dominion last week managed to get parcel of diamonds of 224 carats from 680 tons of kimberlite pipe on Leslie (Leslie), the highest priority areas for exploration to ore complex. The company predicts that the average price of rough diamonds will be $ 85 per carat, and potentially it could rise to $ 120 per carat.
This kimberlite pipe is also promising because it is next to the rest of the infrastructure of production at the Ekati, added the company. Until now, Dominion does not take into account the productive capacity of the tube Leslie in the calculation of the mine plan for the Ekati.
"Our new focus on exploration gives strong results throughout the project, reflecting the medium-term and long-term potential", - said Dzhim Govans (Jim Gowans), chairman of the Dominion government.

Learn more about the benefits of membership

The Responsible Jewelry Council practice (Responsible Jewellery Council, RJC) held its first open day in the British Birmingham. The event was held in the building of the Assay Office, recently built in the city quarter of jewelers. The participants gathered to learn more about the importance and necessity of membership in the RJC, as well as the existing certification mechanisms in the jewelry industry.
Presentations were made by a group of industry experts composed of David Lewis (David Lewis), Managing Director Maker Mends (RJC member since 2011); Himesh Pala, Managing Director of Pala Diamond Company Ltd (a member of the RJC since 2011) and Geri Ro (Gary Wroe), Managing Director of Hockley Mint Ltd (RJC member since 2013).
They openly shared their experiences of interaction with the RJC, talked about had their prejudices to membership in the Council, as well as its relation to certification and its importance for the development of their own business and the industry in general.
Panel discussion opened the opportunity for participants to interact with existing sectoral members RJC, to learn more about the benefits of membership in the Council for Business.
Open Day provided opportunities for building relations between the Board and the members of non-it, becoming the ideal platform to overcome inaccurate ideas about the RJC membership and certification practice.

Entered into a joint venture agreement

The organization "United communities affected by mining" (Mining Affected Communities United in Action , Macua) South Africa has accused the company of representatives of Ekapa Kimberly is that it works without the appropriate permits to mine.
Petra Diamonds has entered into a joint venture agreement with Ekapa Mining last year, which brought together three operations in Kimberley, South Africa.
The consolidated operations include underground mines in Kimberley Petra, rock dumps companies Ekapa Mining and Kimberley Mines.
According to Mining Weekly, Macua members argued that they mined diamonds in the land, on which the Ekapa site since 2003, providing an essential source of income for more than 8 000 people, which are now "can not make tax coffers by more than 8 million rand a month. "
They also stated that in September last year in the area there was a case of theft of property and arson, but since "this incident was not reported anything."
"When we mine (diamonds) on the same land, we arrested Why.?" - questioned representatives Macua.
Diamond Kimberley resources rock dumps constitute a strand of 2.8 million carats.
In the first three years of operation of the project Kimberley Ekapa expects to produce about 700,000 carats a year, while the income could be about $ 65 million per year, based on the alleged diamond price of $ 95 per carat.

As expected, it was a difficult quarter

Tiffany & Co. It released its financial results for the first quarter ended April 30, 2016.
Globally, sales were lower than in the previous year. This affected all regions except Japan, that the management of the company connects with does not reduce the activity of both local customers and foreign tourists. The company's net profit was also less than last year - a result of lower operating margins. Nevertheless, net income generally in line with earlier announced guidance of expectations.
Global sales volume decreased by 7% to $ 891 million, while comparable store sales decreased by 9%. On a constant currency basis, which excludes the impact of foreign currency translation on sales in the US, the global sales volume decreased by 7%, while same-store sales decreased by 9% in the shops.
Net income was $ 87 million, or $ 0.69 per share, compared to net income of $ 105 million, or $ 0.81 per share, in the previous year.
"As expected, it was a difficult quarter in terms of sales and profit growth. We are faced with many challenges, including the continued pressure from foreign tourists who spend money in Europe, USA and Asia, especially in Hong Kong. Nevertheless, we continue to take actions that are designed to enhance sales growth among customers in the US and around the world. From a strategic point of view, we believe that our initiatives will enhance our ability to provide customers with products and unusual experiences and, ultimately, contribute to the improvement of financial results. We continue to focus on how to achieve a long-term sales and profit growth, "- said Frederick cumene (Frederic Cumenal), chief executive officer of Tiffany & Co.

Strategic analysis of all the assets

Rockwell Diamonds reported that its three subsidiaries - Rockwell Resources, HC van Wyk Diamonds and Saxendrift Mine - were placed under external management by a court in Kimberley, South Africa, instead of liquidation.
The immediate effect of this solution is that all judicial proceedings against the subsidiaries have been suspended, as well as the liquidation process, said Rockwell.
According to representatives of Rockwell, placing the company's subsidiaries into administration confirms the real prospects of the salvation of the full and final closure, as well as a return to long-term profitability.
Professional managers of Metis Strategic Advisors have been appointed to oversee the Rockwell subsidiary companies, working together with the management of miners to remedy the state of business and the preparation of the business plan of salvation in order to return to commercial production.
"The company's strategy remains unchanged: we intend to complete the expansion of the mine Vouterspen (Wouterspan) to full production and the possibility to evaluate and implement further production enhancement measures", - stated in the Rockwell.
"There will be a strategic analysis of all the assets and capacity to evaluate their short-term costs, which can accelerate the repayment of loans and provide sufficient capital to return to normal commercial operations, where it is necessary", - added in the company.
Rockwell is now going to sue criminal and civil lawsuits against the C-Rock Mining Limited (CML) and certain persons involved in the business of CML.
CML claimed that Rockwell owed her money on disputed invoices, as well as for the reimbursement of tax penalties and other construction costs.
Three subsidiaries of Rockwell CML disputed claims.

Share of online sales in Russia currently accounts for 2-3% of the total volume of retail trade in jewels

In the conference hall of ALROSA held a meeting of the Public Expert Council of the Federal state institution "Assay Chamber of Russia" dedicated to the topical issues of Russia's e-commerce jewelry.
The event was attended by leaders of the FGI "Assay Chamber of Russia", representatives of the federal executive bodies, the jewelry enterprises and industry associations, communication companies, courier companies and other market participants.
During the meeting they discussed the obstacles to the development of jewelry online sales, the risks faced by manufacturers, sellers and buyers in the process of distance selling jewelry, as well as ways to minimize such risks.
"According to experts, the share of online sales in Russia currently accounts for 2-3% of the total volume of retail trade in jewels, while in other countries the figure is several times higher. "ALROSA" considers it important to the development of e-commerce jewelry because it will naturally boost demand for rough diamonds. Great importance will be the removal of the legislative restrictions on trade in jewels, ordered from online stores. In my opinion, it is necessary to carefully study the positive experience of this trade in China. At the same time, we support the measures aimed at combating counterfeit jewelery and restriction of the activities of unscrupulous online retailers in this area », ─ commented on the meeting of the Vice-President of ALROSA Yuri Okoemov.

The market of high-quality diamonds

Gem Diamonds sold 39,950 carats of diamonds from the mine Letseng (Letšeng) in Lesotho for $ 65.4 million at an average price of $ 1636 per carat in the first quarter of this year, which is 13% more than in the fourth quarter of 2014, when the average price was $ 1444 per carat.
As noted in the company, a pink diamond weighing 8.65 carats was sold at an average price of $ 164,855 per carat, and on this indicator it is ranked sixth of all the stones extracted from the mine Letseng. The company managed to sell 11 diamonds for the price of more than $ 1 million in total for $ 20.4 million.
Meanwhile, Gem Diamonds in the first quarter produced 25,479 carats at a content of 1.53 carats per hundred tons of ore against the expected level of 1.61 carats per hundred tons of ore, mainly due to weaker indicators extracted from the main rock tube.
"On Letseng managed to obtain higher quality diamonds during this period, and it is encouraging that in April and May there was a marked improvement in the amount and quality of diamonds, despite the fact that the value of diamonds per carat achieved positive growth", - said Klifford Elfik (Clifford Elphick ), CEO of Gem Diamonds.
"The market of high-quality diamonds from Letseng during this period remained stable, and it is expected that it will continue to be so in the second half of this year", - he added.
Gem Diamonds stated that a high quality diamond color D 98.42 carat weight type II, produced during the quarter, to be sold in June.
At the end of the reporting period, the company's cash amounted to $ 29.2 million.
Gem Diamonds has also reported that the mine premises Ghaghu (Ghaghoo) in Botswana for conservation was successfully made before March 31, 2017.
During this period, sales with Ghaghu not carried out, and the remaining 13 000 carats from the mine will be sold in the second quarter.