Financial News

Profits were hurt by travel restrictions imposed by COVID-19

The fall is mainly attributed to “the Covid-19 lockdowns in southern Africa”

Both companies remain committed to to their price-over-volume strategy

In April, the miner has remained “committed to its price over volume strategy”

The miner’s revenue from rough and polished diamond sales totaled $904 million

The sale “maintains revenue and cash flow during the global pandemic”

Pandora is still optimistic about a profitable Q1 this year

Profit plummeted to $15 million, compared with $52.4 million in 2018

Revenue for the quarter totaled in $1.4 million - a slight rise year-over year

February sales of rough and polished diamonds reached $346 million - a 14% fall over January

Revenue for the year fell 21% to about $3.33 billion following a fall of 12% in sales

De Beers promised to put in place “additional targeted flexibility" for its sightholders

For 2019, Rio Tinto recorded a net loss of $21 million

Sarine sold a record 145 systems in 2019, and returned to profit in Q4 2019

Alrosa sold 123 rough diamonds with the total weight of 2,205 carats

Lucapa sold 1,223 carats at an average price of $1,535 per carat

Lucara’s revenue exceeded its guidance for the year, estimated at $170-$180 million

Angola’s diamond marketing company Sodiam predicted a rise in production to 14 million carats in 2020