RapNet


Rapaport News

 

Manufacturing

 

Advanced search
Latest Articles
Videos
Features
News
Mining
Rough Markets
Polished Markets
Manufacturing
Retail

Brazil Minerals Builds a Cutting, Polishing Facility

Jun 16, 2014 3:12 PM   By Jeff Miller
Print Print Facebook Facebook Twitter Twitter Share Share

RAPAPORT... Brazil Minerals Inc. secured a proprietary facility in Brazil for cutting and polishing diamonds that are mined from its subsidiary, Mineração Duas Barras Ltda (Duas Barra).  The mining company ramped up its polished diamond production  this year in an effort to generate higher revenue growth through polished sales. 

It is expected that the facility will be staffed by a master diamond cutter and polisher who has more than 20 years of experience, according to Brazil Minerals. The cutter will be supported by an assistant and office support personnel. Brazil Minerals received licenses from the federal government to export either polished or rough diamonds that originated from Duas Barras. So far this year, the company stated it had sold polished diamonds to a multi-store jewelry chain in Brazil.

In 2013, during the first year of rough production,  Duas Barras recorded revenue of $791,780, of which 69 percent was from rough diamond sales and 31 percent from gold sales. In 2014, Brazil Minerals has already sold $1.03 million in polished diamonds for  forward delivery.

Marc Fogassa, the CEO of Brazil Minerals, said, "This facility to produce polished diamonds, from a small part of the total production, is another step in making Duas Barras an integrated operation. Over time, for part of the production, we will go from rocks to online retail, while keeping the entire diamond profit margin for ourselves. It is a goal with many steps, but we are advancing daily."

 

Tags: brazil, brazil minerals, Jeff Miller, mining, Polished Diamonds
Similar Articles
Nancy BrewerJewelry Entrepreneur Nancy Brewer Dies
Aug 16, 2020
Jewelry manufacturer Nancy Brewer died in early August, according to a statement...
Sarine Turns Profit Following Cutbacks
Asian Star Expects Long-Term Covid-19 Impact
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First



Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
  
twitter twitter
About Rapaport
Advertise with us