GJ Town India

  Shaky & fragile market has tempered results in 2Q    Mountain Province Diamonds Inc announces financial results for the second quarter ended June 30, 2025 (Q2 2025) from the Gahcho Kué Diamond Mine (GK Mine). According to the Key takeaways of Q2 2025 are, 411,114 carats were sold for total proceeds of $36.8 million (US$26.6 million) at an average price of $90 per carat (US$65).    Loss from mine operations of $52.6 million, brought Net loss of $37.7 million. Cash costs of production, including capitalized stripping costs, and adjusted EBITDA are non-IFRS measures with no standardized meaning prescribed under IFRS.    Mark Wall, the Company's President, and Chief Executive Officer, commented, "The first half of 2025 was a period of solid operational discipline at the GK Mine, but one that also underscored the challenges we continue to face. While the global diamond market showed tentative signs of recovery earlier in the year, recent U.S. tariffs ...

  That brings largely fraught with losses in other countries   Sanctions imposed on Russian diamonds are fraught with restrictions and financial losses for other countries, including African states whose budgets largely depend on income from the sale of precious stones, a study by the Analytical Credit Rating Agency (ACRA) says.   The study, the results of which are available to Russian Media, recalls that the share of Russian diamonds on the global market exceeds 30%, while Russia accounts for about 60% of the world's proven diamond reserves. As the study notes, if Russian diamonds are banned, African diamond mining countries will be forced to certify each of their stones to confirm its geographical origin, which, according to ACRA, is unrealistic!   "As a consequence, integration of the country and its diamonds into the international diamond market is high, while this market affects the interests of many countries. In this regard, ACRA believes that sanctions agai...

GJEPC India is attempting to add export destinations to mitigate fall!   According to the available Gem & Jewellery exports of India for the period of November 2024 and cumulatively also for the period of April 2024 to November 2024, overall gross export of Cut & Polished diamonds at US$ 666.01 million (Rs. 5622.11 crores) in month of November 2024 is showing a decline of 39.81%(-39.010% in Rs. Term) as compared to US$ 1106.53 million (Rs. 9217.88 crores) for the same period of previous year.   Global diamond market is seized by geopolitical uncertainties and economic weaknesses are capable enough to tumble cut & polished diamond exports of India. Although GJEPC India is attempting to add more export destinations to mitigate fall. Prudent leadership of the council is leaving no stone unturned in the sync of the ongoing government’s ease of doing business initiatives!   The overall gross Imports of Cut & Polished diamonds at US$ 54.03 million ( ...