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Petra Diamonds Boosts Output, Revenue Drops 31% in 3Q

Petra Diamonds Boosts Output, Revenue Drops 31% in 3Q

Petra Diamonds has upped its third-quarter diamond output 6% to 791,443 carats compared to 743,424 carats realised a year earlier. However, revenue dropped 31% to $96.1 million compared to $138.3 million the prior year. Production of 3.2 million carats is expected for the full year, lower than its current guidance of 3.3 million carat

GS Diamonds: Specializing in...

  • Exceptional Large Diamonds Showcased at IRDW

    Exceptional Large Diamonds Showcased at IRDW

    The 2nd International Rough Diamond Week (IRDW), held at the Israel Diamond Exchange, was an opportunity for companies to “show off” their exceptional diamonds. De Beers showcased a high-quality 115.86-carat stone

  • Israel Diamond Exchange Marks Holocaust Memorial Day

    Israel Diamond Exchange Marks Holocaust Memorial Day

    The Israel Diamond Exchange (IDE) marked Holocaust Memorial Day with a ceremony that took place at 10 am, just after a siren was sounded for two minutes throughout the country. IDE President Shmuel Schnitzer addressed the audience

  • A Summary of 2014 and Forecast for 2015

    A Summary of 2014 and Forecast for 2015

    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 Moment of Truth

    The Moment of Truth

    Instead of the logical formula: price of rough + operating costs + marketing costs + reasonable profit = price of polished, we are forced to operate according to a totally illogical formula: the rough producers look at the price of polished and create their own formula for setting the price of rough

  • G.S Diamonds: Specializing in Fancy Matching Pairs

    G.S Diamonds: Specializing in Fancy Matching Pairs

    G.S Diamonds Ltd. specializes in the production of matching pairs of fancy shapes such as half-moons, trapezoids, shields, kites, etc. These are primarily side stones, set in diamonds rings on either side of the central stone

  • 2nd IRDW: All Tenders and Auctions Reported as Oversubscribed

    2nd IRDW: All Tenders and Auctions Reported as Oversubscribed

    All five companies participating in the 2nd International Rough Diamond Week (IRDW), held at the Israel Diamond Exchange until April 16, reported that their tenders and auctions are oversubscribed

  • 18k Gold Feline: NYC Jewelry Designer Created a Line for her Cat

    18k Gold Feline: NYC Jewelry Designer Created a Line for her Cat

    Cats, as jewelry designer Wendy Brandes well knows, are social media superstars. In 2012, Brandes flew to Syracuse, NY, to adopt a seven-month-old male

  • Destined for Greatness: The Grib Diamond Mine

    Destined for Greatness: The Grib Diamond Mine

    The Grib mine, an open-pit diamond, is owned by oil supplier Lukoil. Grib’s reserves are estimated at 98.5 million carats, with an annual production capacity of 3.62 million carats. This makes Grib the first new non-alluvial diamond mine to produce more than one million carats per year

  • Always wanted a Rolex? Now You Can Rent One

    Always wanted a Rolex? Now You Can Rent One

    Ever wanted to wear something that costs $10,000, $20,000, even $40,000, just to feel like you’ve arrived? If you’re got that kind of money, Breitling, Panerai and Rolex are certainly in your price range. Most of us, however, would like that tantalizing feeling without coughing up that many thousands of dollars

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