OurBuzz
India Silver Conference 2023: Platform for the Indian silver ecosystem
The first edition of India Silver Conference held at Jaipur was inaugurated today by Rajiv Arora Minister of State for Small Industries and Exports, Government of Rajasthan, Pramod Agrawal Chairman, National Gem & Jewellery Council of India, Chetan Kumar Mehta , National Vice President IBJA , Michael DiRienzo, Executive Director, The Silver Institute among other dignitaries.
India Silver Conference is presented by IBJA and organised by Eventell Global Advisory Pvt Ltd.
The India Silver Conference is aimed at developing stronger silver demand in India and will cover both supply and demand aspects of India’s silver market. The organizers have invited key stakeholders from each of the major industrial demand segments in India, including electric contacts, silver paste and brazing alloys, silverware, and silver jewellery.
The silver ecosystem definitely deserves a dedicated annual networking platform to address the ever growing demand, new technology, innovations and industrial usage. And, India Silver Conference will provide this platform.
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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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.