DiamondBuzz
Mini Diamonds India Bags ₹18.29-Crore Export Order from Hong Kong’s Jewellery Trendz
Order for lab-grown polished diamonds to be executed in 3 months; company strengthens foothold in Far East market
Mini Diamonds India Ltd (MDIL) has secured a significant export order worth Rs 18.29 crore from Hong Kong-based Jewellery Trendz, marking a key milestone in the company’s international growth strategy. Following the announcement, MDIL shares rose by 2.18% to Rs 185 on the stock exchange.
The order includes lab-grown, cut and polished diamonds, with execution scheduled within three months of confirmation. Payment for the consignment is expected within 150 days from the date of the order.
Commenting on the development, Chairman and Managing Director of MDIL, said, that by promoting the sustained traction and growing acceptance of lab-grown diamonds in global markets. The order from Hong Kong reflects the trust our international clients place in our quality and reliability.
He also further added that the order supports MDIL’s broader objective of expanding export operations and diversifying its customer base across key international markets. The brand remains focused on enhancing production capabilities, adhering to global certification standards, and building long-term partnerships worldwide too.
The company views this order as a strategic move to strengthen its presence in the Far East market, particularly as lab-grown diamonds continue gaining popularity.
MDIL, engaged in the manufacturing and trading of diamonds, has increasingly pivoted towards lab-grown stones in response to evolving market demand. Despite reporting a standalone net loss of Rs 2.70 crore in Q4 FY25 (compared to a net profit of Rs1.34 crore in Q4 FY24), the company posted a 14.3% year-on-year growth in revenue from operations, reaching Rs 96.79 crore.
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.
-
National News1 day agoHarit Zaveri Jewellers Celebrates A Bride’s Royal Spirit In An Indian Wedding With Its New Polki Collection
-
GlamBuzz1 day agoEkta Kapoor Turns Investor, Targets India’s $70 Billion Jewellery Opportunity With Ekatra Jewels
-
International News9 hours agoWGC Gold Market Commentary: Hiking Up A Volcano
-
National News1 day agoTreasures By Tiara Unveils Mumbai Flagship and Café Concept At Cumballa Hill

