GJ Town India

Production decreased by 20% in 2020 YoY The report updates a long-term outlook for t he diamond industry through 2030   Update 1: Recently in a joint effort between Bain & Company and AWDC, published the report, The Global Diamond Industry 2020–21. In their note the report said, “Welcome to the tenth annual report on the global diamond industry, prepared by the Antwerp World Diamond Centre (AWDC) and Bain & Company.   This year’s edition covers industry performance in 2019, effects of the Covid-19 pandemic in 2020 and an update on consumer preferences and attitudes. We also assess potential recovery scenarios in 2021 and beyond.”   The report begins with key developments along the value chain, including industry trends that were accentuated or accelerated by the global pandemic. We review factors that influenced rough diamond production and sales, midstream performance, and global diamond jewelry demand in major markets. We updated our long-term outlook for...

Petra suspends production guidance for FY 2021   The diamond market has continued to show improved demand for rough diamonds, as evidenced by the recent strong sales from the majors De Beers and Alrosa, further to continued robust demand from the midstream, following positive consumer sales during the holiday retail season. There are expectations that this improved demand will continue throughout Q1 CY 2021.   However, the current resurgence of Covid-19 in many countries poses a significant risk to the logistics and timing of sales in H2 FY 2021. Due to the ongoing uncertainty around the impact of Covid-19, production guidance for FY 2021 remains suspended. Furthermore, the Williamson mine remains on care and maintenance, as has been the case since April 2020; this situation remains under continual review. Project 2022 throughput targets have been impacted by reduced grade at Finsch as a result of the increased waste ingress and reduced volumes to manage the dilution, as ...