(IDEX Online) - IIJS Premiere 2023 says it generated over $8.4bn of business - way ahead of forecasts before the six-day event, and far in excess of last year's show."IIJS Premiere 2023 is estimated to have seen business worth ?,?70,000 crore being generated ($8.438bn) which is far beyond anyone's wildest dreams," said Vipul Shah, chairman of GJEPC (Gems and Jewellery Export Promotion Co...Read More
(IDEX Online) - Four men have been arrested and charged over a $1.1m smash-and-grab - in which a Rolex watch fitted with a GPS tracker was stolen.The heist, described by police as very quick and very violent, took place in March at the family-owned Heller Jewelers at a mall in San Ramon, California, USA.Armed and masked gang members fled with 38 watches in four getaway cars.San Ramon Police Depart...Read More
(IDEX Online) - A jewelry retailer is giving away hundreds of one-carat lab grown diamonds, pledging it will never sell stones that "will be worthless one day".Steven Singer Jewelers, based in Philadelphia, USA, is giving away 600 one-carat lab growns with any purchase from its range of mined diamond engagement rings, with a starting price of $548.To kick things off, the retailer also gave away 10...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 6 points in pre-opening trade.US Steel gained $0.22 to $22.72 after the company confirmed receipt of multiple unsolicited proposals to acquire some or all of the company.Amgen gained $0.96 to $263.47 after Mizuho raised its target price from $214 to $223.Tesla dropped $4.95 to $237.70 after reducing the price of its a...Read More
(IDEX Online) - Brilliant Earth, the US-based "ethical jeweler", reported a rise in Q2 sales, driven by its best ever Mother's Day performance.The total numbers of orders was up by over 21 per cent, although the average value of those orders dropped by 16 per cent compared with Q2 2022 as customers tightened their belts. The average order value was $2,571.Net sales for Q2 were $110.2m a...Read More
(IDEX Online) - Rio Tinto is to start work in the coming weeks on a huge solar farm that will provide up to a quarter of the power needed during the three-year closure works at its Diavik mine, in Canada.It will install 6,600 two-sided panels at the deposit on the edge of Arctic Circle - to capture direct sunlight and reflections from the snow.The solar farm will be the biggest in Canada, and will...Read More
(IDEX Online) - Nobody is to be charged over newspaper allegations that HRD Antwerp routinely bumped up diamond gradings.The public prosecutor's office in Belgium has concluded its investigation after claims by De Tijd in March that the lab upgraded GIA-certified diamonds by up to two color grades and one clarity grade. HRD Antwerp, founded in 1973 and wholly-owned by the AWDC (Antwerp W...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 10 points at 8:35 AM EDT.S&P 500 futures dropped 6 points following release of the July Producer Price Index at 8:30 AM EDT. Consensus was an increase of 0.2% versus a gain of 0.1% in June. Actual was an increase of 0.3%. On a year-over-year basis consensus was an increase of 0.7% versus a gain of 0.1% in June. Ac...Read More
(IDEX Online) - This is the world's most expensive Barbie, in a strapless black evening dress and a one-carat pink diamond.She sold for $302,500 at Christie's New York, in October 2010, more than a decade before the Barbie movie was released last month, grossing over $1bn, and breaking the record for any film with a woman director (Greta Gerwig).The record-breaking doll was was designed...Read More
(IDEX Online) - Diamond miners walked out on an indefinite strike at Ekapa, in Kimberley, South Africa, on Monday (7 August) to support their calls for a 17 per cent pay hike. The National Union of Metalworkers of SA (Numsa) says its 700 members at the mine are being paid a "starvation wage".The union's general secretary Irvin Jim said Ekapa had offered a 6.5 percent increase over the ne...Read More
Equity index futures were higher this morning. S&P 500 futures added 25 points at 8:35 AMIndex futures were unchanged following release of U.S. July Consumer Price Index at 8:30 AM EDT. Consensus was an increase 0.2% versus a gain of 0.2% in June. Actual was an increase of 0.2%. On a year-over-year basis, consensus was expected to increase 3.1% versus a gain of 3.0% in June. Actual was an incr...Read More
(IDEX Online) - Lucara yesterday announced the recovery of a 1,080.1 carat diamond.It's the fourth +1,000-ct stone from Karowe, in Botswana, since the mine opened in 2012.The Type IIa top white gem quality diamond measures 82.2m x 42.8m x 34.2mm and was recovered from direct milling of ore sourced from the mine's South Lobe.In November 2015, a 1,109-carat stone - the world's l...Read More
(IDEX Online) - Raiders smashed showcases with sledgehammers at a jewelry store in California, USA, and fled with $900,000 of jewelry in garbage cans.The Jewelers' Security Alliance (JSA) said it was just one of 14 smash and grab attacks in the southern part of the state within a month.It warned that such robberies were at "crisis level" and urged retailers to take precautions - and not to ch...Read More
(IDEX Online) - Fancy color diamonds saw slower growth in the last three months, with an increase of just 0.5 per cent in the FCRF Index, which tracks prices across all colors, sizes and intensities.That compares with a 1.3 per cent rise during the first quarter of 2023, as reported by the New York-based Fancy Color Research Foundation, with the biggest increases among yellows.During Q2, yellows d...Read More
(IDEX Online) - Diamcor has reported an increase in rough sales and per-carat prices after battling power supply issues at the Krone-Endora at Venetia project, in South Africa.The Canadian miner said revenue in the year to 31 March was up 37 per cent to $6.29m and average price per carat increased 39 per cent to $340.Diamcor, which acquired the deposit from De Beers in February 2011, has been inst...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 7 points in pre-opening trade. IAC dropped $5.98 to $61.10 after reporting lower than consensus second quarter revenues. ZipRecruiter fell $2.13 to $15.26 after lowering third quarter revenue guidance.Toast gained $2.56 to $22.78 after reporting higher than consensus second quarter revenues. Wal-Mart added $0.29 to $16...Read More
(IDEX Online) - Roland Lorie is stepping down as CEO of IGI after the grading lab was sold for $570m in May, and will be replaced by Tehmasp Printer, who currently manages IGI's India operation.IGI was founded in 1975 in Antwerp by Marcel Lorie and expanded under his son's leadership into a network of 29 laboratories and 18 gemology schools.Printer will take over as global CEO in October...Read More
(IDEX Online) - Rough diamond sales at Debswana fell by 17 per cent during the first half of this year, amid ongoing weak demand.The 50/50 joint venture between De Beers and the Botswana government sold 12.7m carats for $2.179bn, down from $2.622bn during the same period last year, according to the Bank of Botswana.It follows a bumper year for Debswana in 2022, when rough sales increased by almost...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 33 points at 8:35 AM EDT. Index futures were unchanged following release of the U.S. June Trade Balance at 8:30 AM EDT. Consensus was a deficit of $65.70 billion versus a deficit of $69.00 billion in May. Actual was a deficit of $65.5 billionPalantir added $0.26 to $18.25 after offering positive revenue guidance. The...Read More
(In Aug 7 story, corrects to 2021 from 2011 in third paragraphand removes incorrect paragraph on Piedmont's supply to Teslarelying partly on Atlantic's Ghana operations) Aug 7 (Reuters) - Atlantic Lithium said onMonday the Africa-focused company was confident of getting alease for a lithium mine in Ghana following the approval of agreen minerals policy by the country's government. The company sai...Read More