GJ Town India

                                            Alrosa revenue lowered by 8%                                                                                         Net profit increased by 13% QoQ   Alrosa’s Q1 sales totalled 15.5 m cts, up by 65%     Jewellery Market Bureau: Alrosa announces its IFRS results for Q1 2021 that reports, revenue decreased by 8% QoQ to RUB 90.8 bn, on the back of weaker diamond sales, which was partially offset by a better sales mix and growth of average realised prices. A 45% YoY revenue increase was driven by higher sales volumes (up 65% YoY) and the rouble depreciation.   EBITDA added 5% QoQ and amounte...

WPIC forecast to rise supply by 16%   Jewellery Market Bureau::  The World Platinum Investment Council (WPIC) published Platinum Quarterly Q1 2021 and reviewed Platinum in 1Q. During Q1’21, the global economy continued to recover, underpinned by widespread stimulus measures. Scarcely a year on since the World Health Organisation declared Covid-19 a pandemic, the extent of the recovery in some areas has been surprising as pent-up consumer demand drove economic revival.   However, in the automotive sector, supply chain difficulties became increasingly apparent, hampering the sector’s recovery against this backdrop, Q1’21 platinum demand increased 26% (+405 koz) year-on-year to 1,969 koz while total supply grew 11% (+187 koz) to 1,950 koz. Overall, this resulted in a modest deficit of -19 koz, compared to the Q1’20 surplus of 199 koz.   For 2021 total platinum supply is now forecast to rise 16% year-on-year to 7,883 koz. However, it will remain below pre-pandemic 20...

                                      A partnership for Sarine Tech Solutions                                        Into HB’s innovative ecosystem Sarine Technologies announces that it has joined with HB Antwerp as a technology partner.   Jewellery Market Bureau:  HB is a company based in Antwerp focused on technology driven sourcing, analysing, cutting and polishing of diamonds. HB is applying an innovative methodology designed to simplify the complexities and challenges of the global diamond supply chain and enhance transparency.   HB Antwerp authenticates each stage of its value chain, made in Antwerp, using its own unique block chain and traceability proprietary technologies combined with Sarine’s traceability solution. This allows HB to offers luxury brands and private consu...

Realised an average price of US$71 per carat   Jewellery Market Bureau:  Mountain Province Diamonds announces financial results for the first quarter (1Q) ended March 31, 2021 from the Gahcho Kué Diamond Mine. All figures are expressed in Canadian dollars unless otherwise noted. Additionally, the Company is providing production and cost guidance for 2021.   By highlights for First Quarter 2021, Mountain Province said, 603,000 carats sold, with total proceeds of $54.2 million (US$42.7 million) at an average realised value of $90 per carat (US$71). Adjusted EBITDA1 of $19.1 million, earnings from mine operations recorded of $13.7 million.   Focussing on operational highlights for 1Q 2021 Mountain Province informs that unplanned 22-day operational stand-down in February due to measures taken to limit the spread of Covid-19 at Gahcho Kué. 1,392,128 carats recovered, 16% lower than the comparable Q1 2020 had recorded of 1,655,121 carats. Average grade of 2.23 carat...

Earns 56% higher in 1Q YoY   Jewellery Market Bureau:  Lucara Diamond reports its results for the first quarter of 2021 ending March 31, 2021, with strong financial and operational performance. Revenue of $53.1 million or $579 per carat sold in Q1 2021, 56% higher than Q1 2020. This includes diamonds sold through a combination of regular tenders, Clara, and through HB Antwerp (HB) under the supply agreement announced in July 2020.   Specials recovered (+10.8 carats) equated to 6.8% weight percentage of total recovered carats. In January 2021, the Company announced the recoveries of two, top white gem quality diamonds, A: 341 carats and B: 378 carats. In April 2021, Lucara announced the 24-month extension of its novel supply agreement with HB, in respect of all diamonds produced in excess of 10.8 carats in size, from the Karowe mine, to be sold as polished. In May 2021, Lucara received credit approved commitments from a syndicate of five international lenders for a senio...

To help Small Borrowers and retail segment   Jewellery Market Bureau:  India Ratings and Research (Ind-Ra) opines the stimulus measures announced by the Reserve Bank of India (RBI) to tackle the second covid wave would help contain the pressure on the banking system’s asset quality, especially for micro, small and medium enterprises (MSMEs) and retail segment.   Banks can also support the incremental credit needs of small businesses through a reassessment of their working capital requirement, though the system’s propensity, in absence of external stimuli, could be tested as the perceived risk would be elevated amid the prevailing challenges. Consequently, both delinquencies (at least in 1QFY22) and the quantum of restructured assets could be higher than last year, given that there is no moratorium without restructuring. Assistance to SMEs/MSMEs Continues through All Lenders: The RBI has permitted restructuring of MSMEs in line with the notification dated 6 August 2020;...

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