Financial News
Alrosa’s April Sales Down, But Demand for Diamond Expected to Jump in Q3
In April, the miner has remained “committed to its price over volume strategy”
19.05.2020
Rio Tinto’s Production and Revenue Slid in 2019, Production for 2020 Lowered
For 2019, Rio Tinto recorded a net loss of $21 million
Rio Tinto, owner and operator of the Argyle mine in Australia and the Diavik mine in Canada, has published its production and revenue results for 2019. According to Rough & Polished, Rio Tinto’s production fell 8% year-on-year to 17 million carats in both mines, while its revenue fell 11% year-on-year to $619 million.
The fall in revenue is attributed to a weakening in rough diamonds. For 2019, Rio Tinto recorded a net loss of $21 million, compared with a profit of $118 million in 2018. Earnings before interest, tax, depreciation and amortization (EBITDA) fell 50% to $151 million.
As for 2020 production, the miner expects an output of 12-14 million carats – a lower production forecast that takes into account two things: The closing of the Argyle mine at the end of 2020 as well as “lower ore availability and grades from the underground portion of Diavik”.
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Strong Start: Alrosa’s Diamond Sales Increase 15% in Q1 2020
The miner’s revenue from rough and polished diamond sales totaled $904 million20.04.2020 - Financial News
Gem Diamonds Raises $12.1 Million Through Flexible Tender Sale
The sale “maintains revenue and cash flow during the global pandemic”07.04.2020 - Financial News
Coronavirus Makes Pandora’s Financial Guidance “No Longer Meaningful”
Pandora is still optimistic about a profitable Q1 this year22.03.2020 - Financial News
Gem Diamonds’ Revenue Down in 2019, But Results Still “Solid”
Profit plummeted to $15 million, compared with $52.4 million in 201816.03.2020 - Financial News
Diamcor Closes 2019 with a Strong Quarter
Revenue for the quarter totaled in $1.4 million - a slight rise year-over year15.03.2020
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DE BEERS SELLS $520 OF ROUGH IN 4TH CYCLE
According to CEO Bruce Cleaver, demand for rough continues to be steady17.05.2017 - Financial News
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ALROSA’S NINE MONTHS PROFIT SLASHED BY ALMOST HALF
The slash in profits is due to an appreciation of the ruble and a decrease in diamond prices19.11.2017