GJ Town India

Unstinted service accredited by the gem & jewellery industry   At a glittering event, GJEPC the apex body of the gem & jewellery trade in India, felicitated Bijayananda Pattanayak, Executive Vice President and Head - Global Diamond & Jewellery Group, IndusInd Bank, for his unstinted service to the diamond and jewellery industry. The felicitation ceremony was held in the presence of Colin Shah, Chairman, GJEPC; Arun Khurana, Deputy Managing Director, IndusInd Bank; Vipul Shah, Vice Chairman, GJEPC; Russell Mehta, Convener Diamond Panel, GJEPC; Ajesh Mehta, Convener, Banking, Insurance & Taxation Sub-Committee, GJEPC along with other prominent trade members from the diamond and jewellery industry and banking fraternity.  Expressing his gratitude to Pattanayak, Colin Shah, Chairman, GJEPC, said, “Biju Bhai's deep understanding of the entire chain of operations - right from sourcing of rough diamonds to selling of jewellery - makes him the true master of financin...

Reached to US$ 8807.50 million in 2021 versus 2020   The industry is witnessing a surge in exports and domestic sales of gold jewellery (Plain & Studded) post pandemic. In the calendar year 2021, exports of gold jewellery grew by 50% to USD 8807.50 million as compared to USD 5876.39 million in 2020.   Exports of gold Jewellery Commodities All amounts are in US$ million Jan-Dec 2019 Jan-Dec 2020 % growth (2019 vs. 2020) Jan-Dec 2021 % Growth (2020 vs. 2021) Gold Jewellery 12306.66 5876.39 -52.25 8807.50 49.88 Plain Gold Jewellery 8906.48 3368.13 -62.18 3728.66 10.7 Studded Gold Jewellery 3400.18 2508.26 -26.23 5078.83 102.48             Colin Shah,...

Launches Sutra- the Mangalsutra Collection, Rolls out a new Campaign- #PehchanKaBandhan   Women have been playing a very big role in contributing towards the growth and development of our country. In today’s society, they play a very active role and they act as harbinger of change. India is a diverse country and yet, we find unity in diversity.   This is reflected in not just the good aspects but also in the prevalence of traditional mindset across the country. One such issue is of the deep-rooted patriarchy and gender inequality in the country. The old issues still plague us, often sanctified by religion and legitimized by tradition.   In order to acknowledge and honor the contribution of women who overcome such social stereotyping, Senco Gold & Diamonds has launched a new Campaign showcasing how women despite wearing Mangal sutra,  does not tie them down as they are busy in their respective field of work and services.   The women are shown wearing ...

Extending tie with Womeng to support women and girls   This International Women’s Day, De Beers Group is proud to announce it has extended its partnership with WomEng for a further three years, expanding the reach to cover all four of the countries where De Beers discovers diamonds and placing a greater focus on supporting women and girls to pursue careers in sustainability-related fields.   The partnership will play an important role as De Beers strives to achieve its goal to engage 10,000 girls and women in STEM (science, technology, engineering and mathematics) by 2030, as part of its wider Building Forever sustainability goals.   WomEng is a global, multi-award-winning social enterprise which helps engage and develop girls and women for the engineering and technology industries. The original three-year partnership focused on developing leadership, innovation, well-being and employability skills for women and girls in Botswana, Namibia and South Africa.   Despite ...

Gold’s role as a strategic asset! Global Head of Research, World Gold Council Juan Carlos Artigas focussed on the ongoing catastrophes and the sentiment of geopolitics. He said, as the world’s attention has shifted to the crisis in Ukraine, we have received a lot of queries from investors about the effects of the recent events on gold’s performance in the short, medium and long term. Taking a step back, we believe that geopolitical events in isolation are neither the only nor the main reason why investors should own gold. Gold’s role as a strategic asset is linked to its broad contribution to returns, diversification, liquidity and positive portfolio impact. However, events like these represent a clear example of why gold is such an effective and well-established hedge against expected and unexpected market risks. As Russian troops entered Ukraine on February 24, morning GMT, the gold price surged to an intra-day high of US$1,974/oz and while it has given up most of Thursday’s gain...

Anglo American call for a rapid and peaceful resolution   Mark Cutifani, Chief Executive of Anglo American, said: “First and foremost, our thoughts are with the people of Ukraine and we all want a rapid and peaceful resolution and an immediate end to loss of life.   In recognition of the unfolding horror in Ukraine and in support of those amongst our employees who have family and friends affected, the Anglo American Foundation (AAF) will be making a donation of US$5 million to one or more charities involved in providing humanitarian relief in Ukraine.” The Anglo American Foundation will also match donations made by our employees, up to £1,000 per person per year, through our Employee Match Funding scheme which is open to all permanent employees across Anglo American.   The conflict in Ukraine does not currently have any direct impact on Anglo American’s business as we have no operations or offices in Ukraine or Russia. There is potential for broader markets and supply...

Donates US$1 million to aid for impacted by the war  De Beers Group has been shocked by the violence in Ukraine and inspired by the bravery of its people. We are donating US$1 million to aid organizations that are operating in the region and providing support to those impacted by the war.  The Anglo American Foundation will also match donations made by our employees, up to £1,000 per person per year, through its Employee Match Funding scheme which is open to all permanent employees across Anglo American.                                                                                                                        ...

Alexei Mordashov shifts control of Nord Gold stake  Orea Comments on Media Reports of Sanctions on Nordgold Shareholder & said, Orea Mining reports that it is aware of media articles which state that Alexei Mordashov, an Oligarch often referenced as Russia’s richest person, has (a) been added to the list of persons sanctioned by the European Union in connection with Russia’s invasion of Ukraine, and (b) has transferred control of a US$1.1 billion stake in Nord Gold plc to his wife, Marina Aleksandrovna Mordashova.  Prior to the share transfer, Alexei Mordashov was the beneficial controlling shareholder of Nordgold, the 55.01% owner of the Montagne d’Or project in French Guiana, France, of which Orea owns a 44.99% interest.    At this time, it is not known what impact, if any, these events will have on Nordgold or its ability to continue its responsibilities under the shareholders’ agreement in place between Orea and Nordgold, relating to the Montagne d’Or projec...