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 another profitable

  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 also increased deman

  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 reinforce the 2030

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 contribution in generating e

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 India: Ind

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 country’s econom

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 outperform expectat