Manufacturers

Petra Diamonds prices plummet 23.7%

Petra Diamonds Limited has announced its like-for-like rough diamond prices decreased by 23.7% in the fifth tender cycle (Tender 5) of 2022. Petra said the reduction in prices is in line with the company’s guidance in its Q3 FY22 trading update last month, where Petra outlined it anticipated some pull…

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De Beers Q1 diamond production rises by 25%

The De Beers Group reported its rough diamond production increased by 25% to 8.9 million carats in the first quarter of 2022 (Q1). The group said this reflects a “strong” operational performance, and higher planned levels of production to meet continued demand for rough diamonds. This compares to Q1 2021…

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Petra Diamonds Q3 revenues hit £107.66m

Petra Diamonds Limited has announced its revenues grew by 33% year-on-year in the three months ending 31 March 2022 (Q3), from $106m (£811.71m) to $140.6m (£107.66m). Additionally, revenues increased 43% year-on-year in the nine months to 31 March 2022 (YTD) from $284.2m (£217.63m) to $405.4m (£310.44m). Petra said the growth…

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De Beers rough diamond sales drop 13% to £433m

The De Beers Group has announced its rough diamond sales dropped 13% in the period from 28 March to 12 April (cycle three) from $652m (£500.26m) in the second sales quarter to $565m (£433.51m). However, this is still up 25% year-on-year compared to $450m (£345.2m) in the third cycle of…

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Titan sales drop amid rise in gold prices and geo-political uncertainty

The Titan Company revealed sales for its jewellery segment dropped 4% year-on-year in the fourth quarter (Q4) of FY22 amid the “sharp” rise in gold prices and sentiment impact following the external geo-political conflict from Russia. The plain jewellery category reportedly “bore the brunt” of gold volatility in March 2022,…

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Alrosa suspends Natural Diamond Council membership

The Natural Diamond Council (NDC) has announced that Alrosa has stepped down from the board and will cease all financial contributions to the organisation amid the ongoing crisis in Ukraine. The NDC said its board of directors of the Natural Diamond Council received Alrosa’s decision to suspend its membership last…

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Petra Diamonds Tender 4 sales hit $140.6m

Petra Diamonds Limited has announced its Tender 4 sales hit $140.6m (£106.89m) in FY22, following the sale of 735,222 carats. The announcement comes as the group reported its YTD sales reached $405.3m (£308.12m), while full year sales in FY21 were $406.9m (£309.34m), with further tenders for FY22 due to be…

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Alrosa steps down from Responsible Jewellery Council board

The Responsible Jewellery Council (RJC) has announced that Alrosa has voluntarily stepped down from its position as vice-chair, temporarily leaving the board of directors. The decision was communicated to the RJC board of directors during the meeting on March 3rd.  The RJC said Alrosa “stays committed” to the RJC’s standards…

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Gold prices spike amid Russian invasion of Ukraine

Prices of gold have reportedly surged to the highest level in more than a year in the hours after the Russian invasion of Ukraine on 24 February 2022, which the National Association of Jewellers (NAJ) said benefits from its appeal as a “safe haven” to investors. Bullion prices also rose…

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Petra Diamonds H1 profits surge to $91.1m

Petra Diamonds Limited has reported its adjusted pre-tax profits increased to $91.1m (£66.98m) for the six months ending 31 December 2021 (H1 FY22), compared to $6.5m (£4.77m) in H1 FY21 and an overall loss of $18.3m (£13.45m) for the full year in FY21. However, net profit after tax reduced to…

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