(IDEX Online) - Three people have been arrested over the death of a diamond polisher at a factory in India.They are alleged to have tied him up the man, named as Haresh Bhaliya, and to have beaten him after five diamonds disappeared at a factory in Thakkarbapanagar, in Gujurat state.Police say the owner and two managers were arrested and that cases of murder and wrongful confinement have bee...Read More
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged at 8:30 AM EDT.Brookdale Senior Living gained $$0.26 to $3.24 after the company raised guidance.Tilray dropped 0.12 to Cdn$2.62 after reporting a third quarter loss of $1.90 per share. The company also announced purchase of Hexo for Cdn$56 million.CarMax gained $5.17 to $71.03 after reporting higher than consensu...Read More
(Adds quotes, context) By Marco Aquino LIMA, April 10 (Reuters) - Peru expects to produce 2.8million tonnes of copper this year, a senior official said onMonday, representing an almost 15% jump from 2022, in a brightspot for the Andean nation's top export. Peru, the world's no. 2 copper producer, saw output affectedsince December following anti-government protests and roadblockades spurred by the...Read More
(Corrects project owner in second-last paragraph to AmericanLithium Corp from Plateau Energy Metals) By Marco Aquino LIMA, April 10 (Reuters) - Peru expects to produce 2.8million tonnes of copper this year, a senior official said onMonday, representing an almost 15% jump from 2022, in a brightspot for the Andean nation's top export. Peru, the world's no. 2 copper producer, saw output affectedsinc...Read More
(IDEX Online) - The tailings dam that burst at the former Jagersfontein diamond mine, in South Africa, last September, "deviates from best engineering practice," according to a study of satellite images by civil engineering academics. Based on their three-dimensional reconstruction of the failed dam, the authors estimate four to six million cubic meters of diamond mining waste were...Read More
(IDEX Online) - Diamond billionaire Beny Steinmetz has lost an appeal against a conviction in a Swiss court for bribery, over an iron ore deal in Guinea.Three judges did, however, reduce the five-year prison sentence, handed down two years ago, to three years of which he must serve 18 months, according to a Reuters report.They also upheld the $52m fine, which was imposed at the same time, but acqu...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 22 points at 8:30 AM EDT.Moderna added $3.39 to $161.66 after JP Morgan raised its target price from $127 to $145.Weyerhaeuser gained $0.40 to $30.25 after DA Davidson raised its rating from Neutral to Buy.Tupperware dropped $0.22 to $2.20 after the company warned that it may adjust fourth quarter results. Cinemark ad...Read More
(IDEX Online) - Diamcor announced a 60 per cent drop in carats sold during its fourth fiscal quarter, as it battled ongoing power supply issues at the Krone-Endora at Venetia Project in South Africa.Total revenue was also down, from $2,054,248 in Q3 to $1,579,728 in Q4, although the price per carat rose steeply from $246 to $477. The Canadian junior miner said it sold 3,310 carats in Q4, incl...Read More
(IDEX Online) - A ruby described as "the largest and most valuable" ever to be auctioned is expected break the world record when it is sold by Sotheby's New York in June.The 55.22-carat Estrela de Fura ((Star of Fura in Portuguese), is "the world's largest gem-quality ruby in existence," and is "expected to achieve in excess of $30m," the auction house said.The highest price ever paid fo...Read More
(IDEX Online) - GIA has bowed to pressure and says it will re-introduce paper certificates, at no extra cost, as of Sunday (9 April). The move to digital-only Diamond Dossiers, for stones up to 1.99-cts, provoked widespread criticism from retailers, who said some customers were refusing to buy a diamond without one. In a message to clients, GIA (Gemological Institute of America) said it "did not a...Read More
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged at 8:30 AM EDT. The Canadian Dollar added $0.06 to US74.22 cents after release of Canada's March Employment report at 8:30 AM EDT. Consensus for job creation was 7,000 positions. Actual was an increase to 34,700. Consensus for the Unemployment Rate was an increase to 5.1% from 5.0% in February. Actual was unchang...Read More
(IDEX Online) - A brazen raider is believed to have struck twice in six weeks at the same jewelry store in New York. The owner said he told staff: "Hi, I'm back".Police say he grabbed a worker at Melissa Joy Manning Jewelry, in Cobble Hill, Brooklyn, in the latest attack and ordered her to open the display cabinets.Owner Melissa Joy Manning says merchandise worth $200,000 was stolen in the fi...Read More
(IDEX Online) - The GIA is facing criticism over the new digital-only reports it introduced in January.Dealers say retail customers still expect a paper certificate and are, in some cases, refusing to buy a diamond without one.The GIA (Gemological Institute of America) says its paperless Diamond Dossiers, for stones up to 1.99-cts, are the first step towards phasing out all printed reports with th...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 5 points at 8:30 AM EDT.Johnson & Johnson added $4.75 to $165.25 after announcing an $8.9 billion settlement on talc claims.UnitedHealth Group gained $4.55 to $497.80 after Raymond James upgraded the stock from Outperform to Strong Buy.Cigna advanced $2.46 to $259.00 after Raymond James upgraded the stock from Out...Read More
(IDEX Online) - De Beers has announced the discovery of an astonishingly rare diamond-within-a-diamond.The 0.329 carat D-color Type IaAB diamond, named the Beating Heart has an internal cavity enclosing a smaller diamond that is trapped yet able to move freely.There are only two other known examples of such a Matryoshka or Russian Doll diamond.In 2019, Alrosa recovered a 0.62 carat diamond at its...Read More
(IDEX Online) - Watch and jewelry sales in the US were down for a fifth consecutive month in February, amid ongoing fears of a recession and financial crisis. They fell 3.0 per cent year-on-year, according to the US Department of Commerce. In January sales dropped by just 0.3 per cent, a figure that was originally reported as 2.1 per cent but which has now been revised up based on actual rather th...Read More
(IDEX Online) - Jaeger LeCoultre has reworked its iconic Reverso "secret watch" design into a high jewelry necklace set with 3,000 diamonds.The pink gold Art Deco piece was unveiled last week at the Watches & Wonders 2023 salon in Geneva.It has the swivelling Reverso movement that has featured in watches, bracelets, brooches, handbag clips pendants since 1931.That was the year watchmaker Jacqu...Read More
(IDEX Online) - One of Patek Philippe's rarest watches has broken the record for the highest price paid in an online auction.The Sky Moon Tourbillon, with a blue handmade enamel dial and white gold hand-carved case, sold for $5.8m at Christie's Hong Kong.It is one of the most sophisticated timepieces ever created, with functions that include a cathedral minute repeating, tourbillon, perp...Read More
(IDEX Online) - Edward Asscher, outgoing president of the World Diamond Council, defended the Kimberley Process and addressed the "white elephant" of Russian sanctions at the World Federation of Diamond Bourses (WFDB) Congress in Israel."Today, through the KP and the work that we all do, I am convinced that 99.9 percent of all diamonds in the global marketplace are conflict free," he said."Is the...Read More
(IDEX Online) - Polished diamond prices tumbled 17.3 per cent year-on-year in March. Such a dramatic fall shows how dependent the market has become on world events. This kind of volatility was unknown in the days when De Beers cornered the market and insulated prices.It controlled 90 per cent of the diamond market in the late 1980s and fluctuations were mostly limited to single digits. Then Russia...Read More