DiamondBuzz
GJEPC’s LGD BSM:Showcasing diverse product range, creating long-term business relationships
GJEPC hosted Lab-Grown Diamond (LGD) Buyer-Seller Meet (BSM) on 10th – 11th April 2025 at Surat Diamond Bourse (SDB), marking a significant milestone for India’s emerging LGD sector. The event aimed to connect Indian LGD manufacturers with international and domestic buyers in a focused, business-oriented environment. The show opened on a warm note with the gracious presence of Hon’ble Chief Guest Shri Pareshbhai Patel.
Key Highlights:
- The BSM saw participation from leading LGD manufacturers, traders, and exporters, along with buyers from across the globe, including the USA, UAE, Hong Kong, and Europe.
- Held within the state-of-the-art premises of the SDB, the event showcased India’s growing capabilities in cutting-edge LGD technology, quality production, and competitive pricing.
- The meet was designed to provide pre-scheduled one-on-one meetings, facilitating efficient, transparent, and result-driven business engagements.
Foreign buyers were delighted to be at the LGD BSM, and hoping to create long term business relationships. LGD BSM was a platform to connect with Indian jewellery manufacturers who offer end-to-end services.
Surat- the diamond city of India , has lived up to its name for Johanna Brierley, Jewelery Design, Canada , as she got an opportunity to explore the diverse product range offered by the lab-grown diamond jewellery manufacturers. She is hopeful the meeting will pave the way for long-term business relationships. The USA has a great demand for lab-grown diamond jewellery, and Coomi aims to enter the industry soon. Michelle Kho, Coomi, is awestruck by the diverse product range and end-to-end manufacturing solutions that Indian Jewellery manufacturers offer. Assyly Adilkhan, Pure Gold , wants to cater to young consumers who blend style with elegance in their daily wear. Fashion is non-negotiable for them and an essential part of defining who they are. LGD BSM 2025 helped her to connect with Indian jewellery manufacturers who offer end-to-end services from metal sourcing to manufacturing to cut and polishing, which makes it convenient for her to meet the fast-fashion requirements of her consumers. Overall, she had an enriching experience at the meet.
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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