OurBuzz
APGJF 2022: A Record-Breaking Success for the Jewelry Industry
“Andhra Pradesh Gem and Jewellery Fair (APGJF) 2022 Shines Bright with Record-Breaking Footfall and Maximum Orders”
Exhibitors Experience Unprecedented Success from the Start
The show, which was held at the SS Convention Centre in Vijayawada on December 17th and 18th, attracted a large number of jewellers from across the southern states of India.
The event witnessed High Footfall and Maximum Orders
The exhibition saw record-breaking footfall, with trade visitors flocking to the venue from not only Andhra Pradesh but also from neighbouring states. The show generated business beyond expected levels for all exhibitors, particularly during the upcoming wedding and festival season.
Jewelry Industry’s Elite Recognized at Stars of Andhra Awards & Networking Nite
The APGJF also hosted the Stars of Andhra Awards & Networking Nite, an event held to recognize the stalwarts of the jewellery industry. The event took place at the Taj Vivanta on December 17th.
Organisers Reveal Plans for an Even Bigger and Better APGJF 2023.
The success of the APGJF 2022 has led to the announcement of the dates for the next fair. The APGJF 2023 will be held from December 8th to 10th, 2023.
The APGJF was organised by the Andhra Pradesh Bullion Gold Silver and Diamond Merchants Association and United Exhibitions, who reported that an aggressive promotional campaign and an eagerness among the trade led to the fair’s tremendous success. The organisers also announced that the fair will be a 3-day event in 2023 to ease the movement of crowds and facilitate trade visitors coming from longer distances.
Overall, the APGJF 2022 was a grand success that was celebrated by the entire jewellery industry. Organisers and exhibitors look forward to welcoming trade visitors, sponsors, and media to the APGJF 2023, which promises to be even bigger and better.
DiamondBuzz
Lesotho’s Kao Diamond Mine To Halt Operations Amid Industry Slump
The Mine’s Operator, Storm Mountain, Cited A Severe Financial Crisis Driven By A Prolonged Drop In Global Rough-diamond Prices, Rising Middle East Conflict
Lesotho’s largest diamond mine, Kao, will cease operations on June 30 and transition to care and maintenance. The mine’s operator, Storm Mountain, cited a severe financial crisis driven by a prolonged drop in global rough-diamond prices, rising Middle East conflict-related fuel costs, and stiff competition from lab-grown diamonds.
Despite a warning last October that the mine required $13 million in fresh capital to survive, the necessary investment did not materialise. According to CEO Neo Hoala, the steep market decline made continued operations unsustainable. The shutdown will impact roughly 750 workers.
The mine’s financial downturn is stark: in 2024, Storm Mountain sold 250,000 carats for $50 million—a massive drop from its $105 million revenue in 2022. Kao’s suspension reflects a broader crisis in the diamond sector, following recent insolvencies and closures at Canada’s Ekati mine and South Africa’s Ekapa and Finsch mines.
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