Diamond Stock Articles

Amateur Unearths 3.29-carat Ugly Diamond

March 15, 23 / John Jeffay

(IDEX Online) - A regular visitor to the "sift your own diamond" park in Arkansas, USA, unearthed a a 3.29-carat brown gem, the biggest find there in 18 months.David Anderson is no stranger at the Crater of Diamonds State Park, near Murfreesboro, where day-trippers pay $10 to sift soil at the disused mine for gems, and get to keep whatever they find.He says he's found more than 400 diamonds o...Read More

Horrified Owners Watch $1.2m Jewel Raid on Smartphone

March 15, 23 / John Jeffay

(IDEX Online) - Owners of a family-run jewelry store watched in horror on a smartphone app as raiders emptied display cabinets of goods valued at $1.2m.The break-in at Queens Jewelers was the latest in a string of burglaries at WestGate Mall, in Spartanburg, South Carolina, USA.Four raiders escaped with Cartier and Rolex watches, 35 diamond necklaces, more than 50 diamond bracelets, and men's...Read More

Surge in Belgian Imports of Russian Diamonds

March 14, 23 / John Jeffay

(IDEX Online) - Belgium's imports of Russian diamonds in January rose by 36 per cent year-on-year, according to the government-run Belgian Foreign Trade Agency (BFTA).Rough imports were 132m ($141m) in January 2023, compared with 97m ($104m) in January 2022, just before Russia invaded Ukraine.The US imposed sanctions on Russian diamonds but the 27 EU nations did not, and Belgium has repeate...Read More

Nirav Modi Can't Afford His Legal Bills

March 14, 23 / John Jeffay

(IDEX Online) - Former billionaire diamantaire Nirav Modi can't afford the legal bill for his failed appeal against extradition.He appeared via videolink at a court in London last week over non-payment of $180,000 for his legal representation.Last November, Modi, 51, (pictured) lost his last-ditch appeal against extradition to India, where he is accused of fraudulently using letters of undert...Read More

Student Charge with $500,000 Jewelry Scam

March 13, 23 / John Jeffay

(IDEX Online) - A student has been charged over a $500,000 credit card scam at the jewelry store where she worked in Burlington, Massachusetts, USA.Police allege Ariel Foster, 19, spent over $35,000 on a Tesla car, almost $6,000 with Delta Airlines, more than $20,000 on an hotel in Maui, Hawaii, and almost $5,000 in Louis Vuitton purchases.Their investigation found items scanned at the register ha...Read More

Dubai Hosts First Lab Grown Symposium

March 13, 23 / John Jeffay

(IDEX Online) - Dubai is to host its first LGD Symposium in a bid to drive the sector's long-term success.Global leaders in the lab-grown and technology space, including industry, retailers, financial institutions, governmental stakeholders, growers and manufacturers will converge on 10 July.Organizers DMCC (Dubai Multi Commodities Centre) says it is a "critical moment to address unique chall...Read More

Gold Seized Seized with Fake Hallmarks

March 13, 23 / John Jeffay

(IDEX Online) - Gold sovereigns with fake hallmarks have been seized in Kochi, in the south-west Indian state of Kerala.Officials from the Bureau of Indian Standards (BIS) said the 118 gold coins, weighing 948 grams, were worth over $58,000.They were being sold without hallmarking and with spurious use of the hallmark, the BIS said, and were seized form Thiru-Kochi Gold and Diamonds, Elamkunnapuzh...Read More

HRD Antwerp Investigated over Upgrade Claims

March 12, 23 / John Jeffay

(IDEX Online) - HRD Antwerp is under investigation by a court in Belgium over allegations that it routinely upgraded diamonds, according to the De Tijd newspaper.It says it obtained e-mails, internal procedures, slides, audit reports and filmed board meetings and other material revealing a long-standing practice, described by one former senior staff member as "a way to commit market fraud".It alle...Read More

Botswana on De Beers: "We Want More and We'll Get More"

March 12, 23 / John Jeffay

(IDEX Online) - Botswana's President Mokgweetsi Masisi said it was "only logical" that his country should want more and get more from its deal with De Beers.He ramped up the rhetoric in his latest comments on the 54-year-old joint venture agreement, under which three quarters of its rough is currently sold by De Beers."Besides the fact that the diamonds are ours, it doesn't make sense fo...Read More

Surge in India's Polished Diamond Exports

March 12, 23 / John Jeffay

(IDEX Online) - India's cut and polished diamond exports surged during February, up by almost 20 per cent to 2.37bn.In rupee terms the increase was even bigger, at just under 32 per cent, according to new figures from GJEPC (Gem and Jewellery Export Promotion Council).Vipul Shah, the council's chairman, pointed to the recovery in China after Covid restrictions, the lunar New Year, and a...Read More

35-ct Diamond Fetches $2.7m in White Glove Sale

March 09, 23 / John Jeffay

(IDEX Online) - A 35-carat Leviev diamond ring beat its $2.5m high estimate yesterday when it sold for $2.7m at Bonham's New York.The type IIa emerald-cut, D-color, VVS1-clarity diamond was accented by a round brilliant-cut diamond-set gallery and shank with a total weight of 1.90 carats. The platinum, ring was signed Leviev.Bonhams said it was a "white glove sale" - with buyers found for eac...Read More

Brazil's Ex-President "Failed to Declare $3.2m of Diamonds"

March 09, 23 / John Jeffay

(IDEX Online) - Brazil's former president Jair Bolsonaro is being investigated over claims he failed to declare diamond jewelry valued at $3.2m.The items, including a Chopard diamond necklace, earrings and watch, were a gift from the Saudi government to him and his wife Michelle.Customs officials seized them from an aide's luggage at Sao Paulo international airport after a presidential v...Read More

Farewell to Princess Cut Inventor Izzy Itzkowitz

March 09, 23 / John Jeffay

(IDEX Online) - Izzy Itzkowitz, who co-invented the princess cut in 1979, has passed away at the age of 68, his son said in a Facebook post.During a lifelong career in diamonds he also developed iconic private label designs for De Beers, Tiffany & Co, and Graff, as well as the "invisible set".Itzkowitz, born and bred in Tel Aviv, he also invented the Asscher Cut Princess and the Asscher Queen....Read More

Four More Cleared over $50m Brussels Diamond Heist

March 09, 23 / John Jeffay

(IDEX Online) -  Four defendants in the 2103 diamond heist at Brussels Airport were yesterday acquitted on appeal. It follows the acquittal of 18 other defendants in a 2018 trial and means just one person has been convicted and jailed over the theft of diamonds valued at the time at $50m. The appeals court in Brussels ruled there was insufficient evidence to convict the four. The shipment of...Read More

De Beers Sales Slow to $495m as Buyers Delay

March 08, 23 / John Jeffay

(IDEX Online) - De Beers today announced slower sales during Cycle 2, down 24 per cent on last year, as uncertainty persists and many sightholders delayed purchases.   Total sales were $495m (provisional) compared with $652m during Cycle 2 of 2022. They were up nine per cent on the previous Cycle.   De Beers reportedly raised the prices of smaller goods at its latest sight, amid speculat...Read More

Diamond Sanctions: US and EU to Consult Industry Leaders

March 08, 23 / John Jeffay

(IDEX Online) - US and EU officials are to consult diamond industry leaders on further measures against Russia for its "unprovoked war in Ukraine".James O'Brien, head of the Office of Sanctions Coordination in Joe Biden's administration, will seek the views of diamond retailers, manufacturers, laboratories, and industry trade associations.The US currently sanctions rough diamonds from Ru...Read More

January Surge in Hong Kong Watch and Jewelry Sales

March 08, 23 / John Jeffay

(IDEX Online) - Hong Kong's sales of watches, jewelry, clocks and other valuable gifts leapt 23.1 per cent in January, buoyed by an early lunar Chinese New Year and Covid relaxations. It follows a yo-yo 2022, marked by dramatic monthly drops (-35.9 per cent in April) and increases (30.1 per cent in July). Sales for January 2023 were $566.8m, the highest figure for three years, according to th...Read More

US Watch and Jewelry Sales: A Fourth Month of Decline

March 06, 23 / IDEX Online

(IDEX Online) - Watch and jewelry sales in the US fell for a fourth consecutive month in January. A mood of caution persists within the industry and, to some extent, among consumers. Trade is slow and production is low. The January fall is provisionally recorded at 2.1 per cent by the US Department of Commerce, though that is likely to revised next month. December was initially reported a loss of...Read More

122-ct Diamond Recovered at Letseng

March 06, 23 / John Jeffay

(IDEX Online) - Gem Diamonds yesterday recovered a 122-carat D color Type II white diamond at its Letseng mine, in Lesotho.It's the first +100-ct diamond of the year at the highest average dollar per carat kimberlite diamond mine in the world.Recoveries of large diamonds last year were below average - four +100-cts compared with an average since 2008 of eight per year, which was a factor in t...Read More

First Diamonds from Marsfontein Project

March 06, 23 / John Jeffay

(IDEX Online) - Botswana Diamonds says it expects to see the first recoveries from its Marsfontein project, in South Africa, later this month.Work began at the end of January and the British-based diamond exploration and development company says about 1,500 tons of eluvial gravels from the main Marsfontein pipe have been excavated and are awaiting processing. The Marsfontein Mine, in Limpopo...Read More

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