OurBuzz
BIJS 2023 opens with a grand inauguration in Kolkata
Bengal International Jewellery Show 2023 was inaugurated by Joy Alukkas, CMD, Joyalukkas Group alongwith Ali Saleh Baterfi Al Kindi, Vice Chairman, Federation of Council of Saudi Chamber, Jeddah, Saudi Arabia today, 8 December 2023, at Milan Mela Exhibition Complex , Kolkata.
The grand opening saw the presence of stalwarts and dignitaries including Mr. Samar Kumar De, President, SSBC; Mr. Arun Kumar Varma, President, BGJA; Mr. Tagar Chandra Poddar, General Secretary, Bangiya Swarna Shilpi Samiti; Ms.Kranti Nagvekar, Founder and MD, KNC Services; Mr. Suvankar Sen, Chairman and MD, Senco Gold; Saiyam Mehra, Chairman, GJC; Mr. Suber Sen, Chairman, B.C. Sen Jewellers, Mr. Pankaj Pariekh, Regional Chairman, GJEPC amongst others.
The 4th edition of the BIJS organised and promoted by KNC Services, will run from 8th to 10th December, 2023.
BIJS features 250+ exhibitors.50+ retail chains and 200+ overseas buyers are visiting the show.10000+ domestic visitors are expected to attend the show.
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.
Lesotho’s Kao Diamond Mine To Halt Operations Amid Industry Slump
MCX Gold Higher On Ceasefire Hopes, Crude Oil Price Dip
GIA To Open London Campus In August, Enrolling Students For Classes Beginning In August 2026
Harit Zaveri Jewellers Celebrates A Bride’s Royal Spirit In An Indian Wedding With Its New Polki Collection
Ekta Kapoor Turns Investor, Targets India’s $70 Billion Jewellery Opportunity With Ekatra Jewels
Treasures By Tiara Unveils Mumbai Flagship and Café Concept At Cumballa Hill
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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.