GJ Town India

Sarine revenue 52% to US$62.1 million   Update 1: Sarine Technologies Ltd announce its full year FY2021 results for the 12 months ended 31 December 2021. Its review of FY202 refers, the lockdowns following the onset of Covid-19 in H1 2020 disrupted diamond manufacturing activities in India and retailing activities throughout the world. With the gradual resumption of retailing activities in H2 2020, the diamond industry rebounded in late 2020 and this positive momentum carried over into 2021.   The pent up demand, continuing restrictions on international travel and fiscal stimulus by many governments contributed to strong consumer demand for diamond jewellery in 2021. With overall positive business conditions for most of FY2021 and the strong resurgence of diamond manufacturing activities, Group revenue rose 52% to US$62.1 million, benefiting from increased capital equipment sales and higher recurring revenues, primarily from Galaxy inclusion scanning revenues, which rose 46% over F

A remarkable send-off at a grand function in Mumbai   GJEPC along with De Beers celebrated the life and times of the legendary  Marketing Guru  Stephen Lussier, De Beers Group Executive Vice President for Brands & Consumer Markets, who will step down on 1st April, 2022 after a 37-year long tenure. A grand send-off was held on 28th February at Sofitel Hotel, Mumbai.   Stephen’s nearly four-decade long stint to nurture and promote the cause of natural diamonds is something that cannot be replicated but only be used as an inspiration for his successor, Marc Jacheet, who has a rich and diverse experience in the field of global luxury marketing, and most recently was President of Tiffany & Co. Europe, the Middle East, and Africa.  In his keynote address, Colin Shah, Chairman, GJEPC, said, “The multi-billion-dollar Indian diamond industry owes a lot to Stephen Lussier.  He has played a significant role and is one of the chief architects of the India diamond success story. It is

Keep diamond trade out of politics!   Right with the announcement of Sanctions from the US & allies upon Russia, not only India but also the global diamond fraternity too; started assessing the scenario and if that can impact on diamond trade especially from Alrosa?   In the row, Nayan Jani asked a question to Alrosa. No doubt, as of today Alrosa do not see any major risk.   Jim Vimadalal, Director-Alrosa Company Limited said, “Alrosa is carefully studying the new working conditions in connection with the imposed sanctions.   We are doing our best to guarantee the integrity of our operations, trading activities and interaction with clients. The company intends to continue its work normally. We hope that the industry markets will stay strong during this global turbulence, and we will stay closely connected with our businesses throughout the whole world, based on the relationships that were strengthened over decades and through a lot of crises. We encourage our partners and indu

Social responsibility, transparency, compliance and full disclosure   The World Federation of Diamond Bourses (WFDB) concluded a very successful Presidents’ Meeting at the DMCC in Dubai last week, during which the organization adopted a resolution in support of social responsibility, transparency, compliance and full disclosure. This was also the first time that representatives of the Young Diamantaires were invited to join the Executive Committee meeting and Working Session.    The Opening Session on February 24 featured keynote speaker Angola Minister of Mineral Resources, Petroleum and Gas, HE Diamantino Pedro Azevedo. Other speakers included host DMCC Executive Chairman Ahmed Bin Sulayem, Alrosa Head of International Relations Peter Karakchiev, De Beers CFO Midstream Susanne Swaniker, CIBJO President Gaetano Cavalieri and WDC President Edward Asscher. Yoram Dvash called on the diamond industry to adopt the principles of social responsibility and transparency for the good of the

Rough diamond price rock over by 40%   Lucapa Diamond Company Limited presented its unaudited financial results for the year ended 31 December 2021. During the period, record operational performances from both SML and Mothae diamond mine with record volumes processed, carats recovered & sold and exceptional diamond recoveries. Lulo exploration sampling includes the discovery of 13 diamonds from the Canguige catchment area, including eight Type IIa diamonds, three new high-interest targets identified at Brooking, WA and successful completion of a A$21.7 million capital raising to fund the 100% acquisition of Merlin diamond mine, expedite exploration programs, advance feasibility studies and general working capital. The completion of the acquisition of Merlin for a total consideration of A$8.5 million and release of Scoping Study showing strong economics for a long-life mine. Lucapa Diamond published the Merlin Scoping Study demonstrating strong economics for a long-life mine:    1

Celebrates Annual Sports Day!   HK Group is famous for conducting numerous activities and has been involved in their employees' betterment. The annual sports day was more like a festival for the Hari Krishna Exports. On February 26th, 2022, Hari Krishna Exports Pvt Ltd scheduled an Annual Sports Day with grand splendor for employees and their families at Air India Ground, Mumbai.   It was one of the huge programs hosted by HK Group. The chief guests of the event were Sanjaybhai Bhatia, IAS- Upa-Lokayukta of Maharashtra, and dignitaries from the diamond industries. All the employees were very much excited after all this was the time to enjoy with colleagues and families together. They have taken part in those games, which are their strength as well as the games that they like. The major sports of the sports day were Cricket, Volleyball, Kabaddi, Tug of war, Kho-Kho, Box cricket, along with many more exciting sports activities. The highly active participation of female employees

The issue price of Gold Bond announced Rs 5,059 In terms of Government of India Notification No.4(5)-B(W&M)/2021 dated October 21, 2021, Sovereign Gold Bonds 2021-22 (Series X) will be opened for subscription during the period February 28- March 04, 2022 with Settlement date March 08, 2022. The issue price of the Bond during the subscription period shall be Rs 5,109 (Rupees five thousand one hundred nine only) – per gram, as also published by RBI.                                                                                                                                                                                                                                                                                              The Government of India in consultation with the Reserve Bank of India has decided to allow discount of Rs 50 (Rupees Fifty only) per gram from the issue price to those investors who apply online and the payment is made through digital mode.