GJ Town India

  Gemfields revenue, reduced compared to the same period last year   In accordance with the JSE Listings Requirements, Gemfields advised that the Company is reasonably certain of its expected financial interim results for the six months ended 30 June 2024. Gemfields’ two key operating assets, Kagem Mining Limited and Montepuez Ruby Mining Limitada (MRM), generated revenues of USD 51.9 million and USD 68.7 million respectively in the six months to 30 June 2024 (2023 H1: Kagem – USD 64.6 million; MRM – USD 80.4 million).   At the occasion Sean Gilbertson, CEO of Gemfields, commented, “Further to our operational update for the six months to 30 June 2024, which was published on 26 July, we are pleased to provide this trading statement ahead of the release of our Interim Results on Friday 27 September 2024. As previously disclosed, the Group generated auction revenues during the period of USD 120.6 million, as well as USD 6.6 million from Fabergé, contributing to anoth...

  Rapidly changing scenario for gold price ahead of festive!   Recently Swann Collins, investor, writer and consultant said Eurasian media on September 26, 2024 that, “Gold prices run above $2,690 marks its continuous push to record highs so far this year. This is a +5.48% growth over the past month, and a +40% growth over the past year.   Last month gold price crossed $2,500 per Troy ounce. Interest rate cuts by the US Federal Reserve last week reduced the opportunity cost of holding non-yielding gold.   Expectations for further U.S. interest rate cuts have driven up demand for non-yielding assets like gold. Traders are pricing in a 62% probability of a 50 bps rate cut by the Fed in November, as indicated by the CME FedWatch tool. Fed Chair Jerome Powell’s upcoming remarks are expected to shed light on the extent of future rate adjustments, which will further guide gold’s direction. Heightened global uncertainty, such as the ongoing Israel-Gaza conflict, has a...

  The 2030 Agenda, we all need to scale up: CIBJO President   Speaking to the United Nations General Assembly in New York, CIBJO President Gaetano Cavalieri recently expressed the commitment of the international jewellery, gemstone and precious metals industries to the fulfillment of the UN’s Sustainable Development Goals, noting that “Our world faces unprecedented challenges, but together we still have the opportunity to construct a better future for all, building resilience and leaving no one behind.”   The CIBJO President was among a handful of NGO leaders selected to address the 79th sitting of the UNGA, with only one NGO delegate being provided the opportunity to speak each half-day session to the gathering of world leaders. CIBJO has served as the global jewellery sector’s sole representative in the UN’s Economic and Social Council (ECOSOC) since 2006, when it was granted Special Consultative Status in the organisation.   “We are fully committed to ...

Promote Brand India through focus on high-quality!   Marking a decade of the transformative, Make in India - initiative, Minister of Commerce and Industry, Piyush Goyal, urged the Indian industry to  focus on prioritizing the production of high-quality goods to promote Brand India through sustainable practices in line with Prime Minister’s vision of Make in India with Zero Effect; Zero Defect.   Goyal said this while engaging with the CEOs of over 140 PLI beneficiary companies in an interactive session, celebrating their achievements under the Production Linked Incentive (PLI) Scheme. Addressing the gathering, Piyush Goyal applauded the efforts of PLI beneficiary companies which have been instrumental in driving growth across vital sectors, creating jobs, and positioning India as a global leader in manufacturing.   Goyal also expressed gratitude to global champions for their dedication, significant investment in producing innovative products and contribut...

Register Now for BDB Leadership Series at https://event.bdbindia.org/   Bharat Diamond Bourse (BDB) is proud to announce the BDB Leadership Series: Polishing Our Future, taking place on October 11, 2024, at the Convention Hall, BDB-Mumbai. This event is a rare opportunity to engage with leading figures from the diamond and jewellery industries, and we invite industry professionals to register and be part of the conversation shaping the future of the global diamond & jewellery market.   Sponsored by BDB, GIA and IGI, this leadership series will delve into key market dynamics, challenges, and strategies for growth, focusing on innovation, leadership, and the evolving global trade in diamonds and jewellery. The event will offer insights into the latest market trends, provide networking opportunities, and serve as a platform for knowledge sharing between industry stalwarts and emerging leaders. Key Sessions and Speakers: 1: Amit Pratihari, Managing Director, De Beers I...

MoI, Maharashtra open Training and Skilling Centre   Uday Samant, Hon’ble Minister for Industries (MoI), Government of Maharashtra, inaugurated the Indian Institute of Gems & Jewellery (IIGJ), training and skilling centre in Ratnagiri on 24th September in the presence of Kirit Bhansali, Vice Chairman, GJEPC; M. Devender Singh, District Collector, Ratnagiri; Kirthi Kiran Pujar, CEO, Zilla Parishad, Ratnagiri; Sabyasachi Ray, Executive Director, GJEPC; Siddhartha, COO, GJEPC; Debasish Biswas, CEO, IIGJ, amongst others.   The inauguration of the IIGJ Ratnagiri marks a significant step forward in GJEPC’s mission to provide comprehensive education and skill development, ensuring that Maharashtra remains at the forefront of India’s gem and jewellery industry.   Uday Samant, Minister of Industries, Government of Maharashtra said, “The gem and jewellery industry is far more than just luxury and aesthetics; it is a crucial economic engine that significantly contributes to a co...

The Ekati significantly reducing debt position   Burgundy Diamond Mines announces that it has successfully paid out its Convertible Notes totaling US$23.6 million, significantly reducing its debt position. Kim Truter, Burgundy CEO and MD, commented, “We had several options for our Convertible Notes, and we believe this was the best way forward for the Company.   We are pleased to take this major step in further strengthening our balance sheet. The fact we have opted to pay this out in cash highlights the strength and belief in our business and our optimism in the diamond market.” Michael O’Keeffe, Non-executive Chairman, added, “Despite being a countercyclical acquisition, the tier-1 nature of the mine and infrastructure has generated approximately A$196 million in EBITDA during the first 12 months of operations.   This is providing flexibility to both de-lever the balance sheet and develop the resource base to extend mine life. The Ekati asset continues to outpe...

GJC, the apex body announce proudly the 13th NJA’24   The All India Gem & Jewellery Domestic Council (GJC), the apex body of the gems and jewellery industry in India, is proud to announce the 13th edition of the National Jewellery Awards (NJA'24) – Pratibha ka Utsav. This prestigious event, which has successfully completed 12 previous editions, is set to take place on 26th September 2024 at the Jasmine Hall, Jio World Convention Centre, Mumbai, coinciding with the second day of the renowned India Gem & Jewellery Show (GJS).   13th edition of National Jewellery Awards (NJA), on 26th September 2024 at Jio Convention Centre. Presented by the Indian Association of Gold Excellence and Standards (IAGES) by the World Gold Council (WGC), and Powered by the Gemological Institute of America (GIA), Trophy Partner - Pranda, Platinum Partner - Platinum Guild India (PGI).   Laboratory Partner - IDT Gemological Laboratories Worldwide, Supporting Partners - De Beers,...

  Announces the three recipients for educational courses   Jewelers of America (JA), the national trade association for businesses serving the fine jewelry marketplace, has announced the recipients of the Seymour & Evelyn Holtzman Bench Scholarship. The scholarship is aimed at bringing new talent into the bench jeweler profession.   The three recipients of the Seymour & Evelyn Holtzman Bench Scholarship are Amy Conder, Leah Walshak and Teresa Wergedal. Their scholarships will go towards their educational courses at Gemological Institute of America, New Approach School for Jewelers, and Stuller, respectively.   The Seymour & Evelyn Holtzman Bench Scholarship is a partnership started this past year with Jewelers of America and Seymour & Evelyn Holtzman that provides tuition help to students enrolled in an accredited bench jeweler or metalsmith education program. "My parents, Seymour and Evelyn Holtzman, have always believed that service and...

The jewellery industry set to dazzle as #HumaraApnaShow   The jewellery industry is set to dazzle as the much-anticipated India Gems and Jewellery Show 2024 (GJS2024) #HumaraApnaShow, a premier retail jewellery exhibition, opens its doors at Jio World Convention Centre, Mumbai, from 25th to 28th September 2024.   Organised by All India Gem and Jewellery Domestic Council (GJC), this prestigious event brings together the finest jewellery brands, artisans, designers, and retailers under one roof, offering an unparalleled platform for showcasing exquisite collections and the latest trends in the jewellery world.   The inauguration ceremony will be graced by the esteemed Chief Guest Govindbhai L Dholakia – Chairman Emeritus SRK & MP Rajya Sabha, with guests of honour, Ajoy Chawla, CEO Jewellery Division, Titan Company Ltd., and Dr. B. Govindan, GJC South Zone Chairman & Chairman Bhima Group.    The show will host over 400 exhibitors across 700+ booths, attrac...

Iss Baar, Shaandar, the GJS Nite 2024 on 25th!   GJS Nite is back and promises to be grander than ever! GJS Nite 2024 on Wednesday, 25th September 2024, at Jasmin Hall, Jio World Convention Centre (JWCC), Mumbai. The highly anticipated event, organized by the All India Gem & Jewellery Domestic Council (GJC), will gather over 2,000 jewellery enthusiasts and business leaders for an unforgettable evening of networking, fashion, and business.   Iss Baar, Shaandar - perfectly encapsulates the essence of GJS Nite 2024, where the industry’s top minds come together to celebrate India’s finest jewellery, in an evening powered by IDT Gemological Laboratories Worldwide and supported by partners such as Godrej Security & Jewel Trendz, Luxury Partner  Porsche Centre Mumbai.   The fashion show, with partners Unique Chains Pvt Ltd, JP Gold, TJ Impex, and BIJS by KNC, will feature collections from renowned jewellers, displayed by leading Indian models and celebrities. During...