OurBuzz
IIJS a Premiere 2023 could see upto 50,000 visitors in attendance
The response to IIJS Premiere has been nothing short of phenomenal. In the first phase alone, over 30,000 visitors and 15,000 companies have registered, surpassing expectations. This tremendous response demonstrates the industry’s support for the dual venue arrangement and highlights the growing significance of IIJS Premiere.This number may go up to 50,000 visitors and 25,000 companies as we approach the date.”
While the majority of visitors are from the local market, IIJS serves as a vital sourcing platform for jewellers catering to Non-Resident Indians (NRIs) worldwide. The show attracts a significant number of NRI jewellers, ensuring its international stature.
Last year, the show generated business worth ₹50,000 crore, and with the current trend of increased visitor footfalls, a 30% to 40% growth in business is anticipated. Stable gold prices, robust economic growth in India and surrounding regions, and positive market conditions add to the optimism.
Source: GJEPC
DiamondBuzz
ALROSA Indicates Mir-Deep Project Could Commence As Early As Next Year
The Project Is Viewed As Strategically Significant Given The Historic Contribution Of The Mir Asset To ALROSA’s Production Portfolio
ALROSA has indicated that development activity at the proposed Mir-Deep project could commencece as early as next year, positioning the asset as the long-term successor to the original Mir Mine operation, which was permanently shut following the fatal 2017 flooding incident that resulted in eight casualties.
The company stated that it is prepared to accelerate execution of the construction phase of the Mir-Deep project—estimated in 2024 at an investment outlay exceeding US$1.5 billion—subject to favorable macroeconomic conditions and a reduction in borrowing costs. The development reflects ALROSA’s broader strategy to restore high-volume production capacity while optimizing capital deployment amid evolving financing conditions.
Mir-Deep is planned at the same site as the historic Mir mine in eastern Siberia and will involve the sinking of new shafts to access deeper diamond-bearing reserves located below the previous accident zone, within the same geological structure. The project is viewed as strategically significant given the historic contribution of the Mir asset to ALROSA’s production portfolio. Prior to its closure, the mine was producing approximately 3.8 million carats annually, representing nearly 10% of the company’s total output.
Originally commissioned in 1957 as the first diamond mine in the former USSR, the Mir operation remains one of Russia’s most iconic diamond assets. The 2017 flooding disaster resulted in extensive destruction of underground infrastructure, mining workings, and equipment, leading to the suspension of operations.
In an operational update issued on 28 April, Pavel Marinychev confirmed that preparatory activities initiated in 2023 had been completed and that Russia’s Main State Expert Review authority (Glavgosexpertiza) had approved the extraction of certain reserves within the project area.
Earlier resource assessments released in September 2023 estimated identified reserves at approximately 173.5 million carats. More recent evaluations by Russia’s State Commission on Reserves have reportedly increased the estimated resource base to nearly 200 million carats, further strengthening the project’s long-term economic potential and strategic relevance within the global diamond supply landscape.
ALROSA Indicates Mir-Deep Project Could Commence As Early As Next Year
PNG Jewellers stock touches 52-week high of Rs 727.80 amid strong market momentum, strong festive demand
BlueStone-Backed Ethera Launches Mother’s Day Campaign ‘I Am Not Like My Mother,’ Alongside A Curated Edit Of Everyday Fine Jewellery
BlueStone-Backed Ethera Launches Mother’s Day Campaign ‘I Am Not Like My Mother,’ Alongside A Curated Edit Of Everyday Fine Jewellery
PNG Jewellers stock touches 52-week high of Rs 727.80 amid strong market momentum, strong festive demand
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