OurBuzz
IIJS Premiere team completes Phase 2 Campaign in Dubai’s Deira Gold Souq
The IIJS Premiere team recently concluded its Phase 2 campaign at the iconic Deira Gold Souq in Dubai, marking a significant milestone in its efforts to connect with global jewellers and industry stakeholders. The campaign was met with a robust response, highlighting the event’s importance and appeal within the international jewellery community.
The team engaged with 45 wholesalers and retailers in Deira Gold Souq, Gold Centre, Gold Land, and Gold House. Renowned for its rich history and vibrant marketplace, Deira Gold Souq provided the perfect backdrop for the IIJS Premiere campaign.
The campaign attracted a diverse group of jewellers, retailers, and industry professionals, all eager to explore the latest trends, innovations, and opportunities at IIJS Premiere in Mumbai from 8th to 13th August.
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.
WGC Gold Market Commentary: Hiking Up A Volcano
Lesotho’s Kao Diamond Mine To Halt Operations Amid Industry Slump
MCX Gold Higher On Ceasefire Hopes, Crude Oil Price Dip
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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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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International News1 day agoWGC Gold Market Commentary: Hiking Up A Volcano
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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.