Rapaport Magazine Shifts Focus to the Holidays
The September issue looks at the spending trends, gemstones, and styles shaping retail shopping this festive season.
Category: Mining
Company requests suspension of shares amid financial uncertainty.
Extra year could add 2.2 million carats of rough production.
Strong first half drove 2022 growth, but market later turned negative.
Diamond is miner’s first over 100 carats this year and its 36th overall.
Prices improving in early 2023 after sluggish end to last year.
Sales up 63% in 2022 amid solid demand and low inventory levels.
Sales dropped 20% year on year for the six months ending December 31.
Cutting and polishing facility processes diamonds from company’s Ellendale mine, as well as third-party rough.
Recoveries of special-size rough fell well below 14-year average.
Higher average price boosted revenue in fourth quarter.
Featured