OurBuzz
Devendra Fadnavis invited to IIJS Premiere 2023 inauguration
GJEPC Chairman Vipul Shah, along with Vice Chairman Kirit Bhansali and Executive Director Sabyasachi Ray, had a meeting with Devendra Fadnavis, the Hon’ble Deputy Chief Minister of Maharashtra, where they extended an invitation to him for the inauguration of IIJS Premiere 2023. Fadnavis has confirmed his presence and will inaugurate the show on 4th August 2023 at Bombay Exhibition Centre, adding grandeur to the opening ceremony.
The 39th edition of IIJS Premiere, the world’s second-biggest gem and jewellery exhibition, will be held concurrently at two locations in Mumbai – from 3rd to 7th August 2023 at the Jio World Convention Centre (JWCC), and from 4th to 8th August 2023 at Bombay Exhibition Centre (BEC).
IIJS Premiere 2023 will showcase over 1850 companies from across India occupying 3250 stalls, covering a vast area of 65000sqm.
Anticipating over 40000 trade visitors from 800 cities in India and international buyers from 80 countries, the event promises to generate significant momentum for the domestic and international trade community in preparation for the upcoming marriage and festive season.
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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Lesotho’s Kao Diamond Mine To Halt Operations Amid Industry Slump
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Harit Zaveri Jewellers Celebrates A Bride’s Royal Spirit In An Indian Wedding With Its New Polki Collection
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National News2 days agoHarit Zaveri Jewellers Celebrates A Bride’s Royal Spirit In An Indian Wedding With Its New Polki Collection
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GlamBuzz2 days agoEkta Kapoor Turns Investor, Targets India’s $70 Billion Jewellery Opportunity With Ekatra Jewels
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National News2 days agoTreasures By Tiara Unveils Mumbai Flagship and Café Concept At Cumballa Hill
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.