OurBuzz
The South Jewellery Show- SJS, inaugurated at Bengaluru
The South Jewellery Show (SJS), the premier B2B Exhibition of South India, was inaugurated at the Tripura Vasini Palace Grounds, Bengaluru.
The formal inauguration was done by Chief Guests Pramod Agarwal, NGJCI, Joy Alukkas CMD- Joyalukkas Group, PR Somasundaram, Regional CEO –India, World Gold Council, along with Guests of Honour Ashok Gautam,MD & CEO -India International Bullion Exchange IFSC Ltd., Dr TA Sharvana, MLC & Dy Floor Leader (JDS)- Govt of Karnataka & Chairman, Shree Sai Gold Palace and senior committee members of Jewellers Association, Bangalore.
Present at the inauguration were Special Guests, Varghese Alukkas, MD-Jos Alukkas, BA Ramesh,Jt.MD-Thangamayil Jewellery Limited,Suvro Chandra,Director-PC. Chandra & Sons (India) Pvt.Ltd, Surendra Mehta, National Secretary IBJA, Suresh Addanki, Vaibhav Jewellers Visakapatnam.
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.