OurBuzz
JMAIIE 2024-The Ultimate Jewellery Machinery Exhibition inaugurated in Mumbai
The 3rd edition of the Jewellery Machinery & Allied India International Expo 2024(JMAIIE 2024) was inaugurated today by Chief Guest Rajesh Kumar Mishra (IRS), Zonal Development Commissioner-SEEPZ-SEZ, Mumbai along with Guest of Honour Kevin James, MD-Goodwin Refractory Services India Pvt Ltd. Present at the inauguration were Kranti Nagvekar ,
Founder – KNC Services,Farhad Sethna, Chairman, JMA Forum and Michael Donald Secretary,
JMA forum.
JMAIIE, organized by KNC Services, is the largest sourcing hub for jewellery machinery and allied products worldwide. JMAIIE 2024 will be held from 9-12 Feb 2024 at Bombay Exhibition Centre, Mumbai.
In his inaugural address, Rajesh Kumar Mishra (IRS) said, “I am pleased to see that the concept and organization of JMAIIE is fulfilling the objective of growing the jewellery machinery sector leading to growth of GJ industry. My advice to the industry is that there should be an increased focus on skilled labour, maintaining quality and growing the domestic base of jewellery machinery sector .”
Kevin James, Managing Director, Goodwin Refractory Services India Pvt. Ltd said “JMAIIE continues to be a platform for excellence, creativity and progress.The innovation in manufacturing technology showcased here is key to supporting the jewellery machinery sector.”
Farhad Sethna, Chairman-JMA Forum, said, “JMAIIE, the exclusive jewellery machinery show has been a tremendous success.It is our endeavour to make it the largest jewellery machinery shop in the world. It provides unmatched opportunities to buyers see the latest in jewellery machinery and is a platform for manufacturers to promote their products in India and abroad.”
Kranti Nagvekar, Founder of KNC Services, expressed, “I wish to convey my appreciation to both exhibitors and visitors for their incredible support. We expect a huge turnout of both manufacturer and buyers from the industry to attend the largest Jewellery Machinery Exhibition of India.The latest cutting edge technology in manufacturing seen here is contributing to the PM’s vision of Make in India.”
Michael Donald, Secretary-JMA Forum delivered the vote of thanks.
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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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.