Diamond Stock Articles

New Diamond Cut: Louis Vuitton's Four-Pointed Stars

January 18, 24 / John Jeffay

(IDEX Online) - Louis Vuitton is launching a jewelry collection featuring a unique Monogram Star diamond cut - replicating the fashion brand's famous pattern, as used in handbags, suitcases, leather goods and accessories.Diamonds cut as a 53-facet four-pointed star are being set in rings, earrings and pendant necklaces that will be launched next week in Singapore as part of the LV Diamonds co...Read More

Diamonds Do Good is Making a Difference

January 17, 24 / John Jeffay

(IDEX Online) - Diamonds Do Good, the global non-profit, has announced $365,000 of grants for diamond mining and manufacturing communities.It's supporting girls' education and entrepreneurship training in Tanzania, where it launched the Diamonds Do Good Bracelet (pictured) to raise funds.  Diamonds Do Good (DDG) is also empowering youth with HIV through in Botswana, supporting...Read More

Petra's Q2 Revenue Down 15%

January 17, 24 / John Jeffay

(IDEX Online) - Petra's Q2 revenue fell by almost 15 per cent, faced with what the company described as "continued lower diamond pricing environment."Rough sales were down from $105.7m to $90.2m. Half-year sales were down just over 9% from $207.1m in 2023 to $187.8m, the UK-based miner said in its H1 FY 2024 Operating Update published yesterday (16 January). There was no revenue from the sale...Read More

Alrosa has "Colossal Safety Margin" to Survive Sanctions

January 17, 24 / John Jeffay

(IDEX Online) - Russia's finance ministry says Alrosa has a "colossal safety margin" and currently needs no intervention to survive sanctions imposed by G7 nations from 1 January.The state-controlled miner has previously offloaded diamonds it couldn't sell to the Gokhran - Russia's state-run repository of precious stones and metals.Russia's deputy finance minister Alexei Moisey...Read More

Q4 Production Halved at Rio Tinto's Diavik Mine

January 16, 24 / John Jeffay

(IDEX Online) - Rio Tinto today (16 January) announced a 50 per cent drop in its Q4 diamond production at Diavik, Canada's largest diamond mine.It said the closure of two kimberlite pipes - one underground, the other open pit - towards the end of the year had impacted output.Rio Tinto, the world's second-largest metals and mining corporation, reported production at Diavik, its only diamo...Read More

De Beers Slashes Rough Prices

January 16, 24 / John Jeffay

(IDEX Online) - De Beers has reportedly slashed rough diamond prices across the board by at least 10 per cent.Some larger goods have been discounted by as much as 25 per cent as the first Sight of the year opened in Gaborone, Botswana, yesterday (15 January), according to insiders. De Beers does not comment on prices.The UK-based miner is keen to push sales after its last two Sights of 2023 brough...Read More

India to Lead Demand for Natural Diamonds

January 16, 24 / John Jeffay

(IDEX Online) - India will lead demand for natural diamonds in 2024, says David Kellie, CEO of Natural Diamond Council (NDC), as US buyers increasingly switch to lab growns."The Indian market remains the strongest growth market in the world because of its strong financial position and changing demographics," he told The Economic Times, in India."Indian women are now financially stronger, and they...Read More

Tourism Boosts Chow Tai Fook's Q3 Sales

January 15, 24 / John Jeffay

(IDEX Online) - Hong Kong-based Chow Tai Fook (CTF) is finally enjoying the effects of the long-awaited bounce in tourism after China's Covid restrictions were lifted last August.It has posted a 46.1 per cent increase in its Q3 retail sales value, helped by a Christmas surge and by Chinese New Year celebrations in late December. That's a notable improvement on its a 5.8 per cent increase...Read More

Auctioneer Fabricated Story of $2.5m "Bric-a-Brac" Diamond

January 15, 24 / John Jeffay

(IDEX Online) - A British auctioneer has admitted that his story of a 34-carat diamond, worth $2.5m, being found among worthless bric-a-brac at a garage sale was a complete fabrication.Mark Lane, of Featonby's Auction House, told a court he made it all up to generate media interest, in the hope it would save his 100-year-old family business.At the time, Lane told reporters an unnamed woman in...Read More

Diamcor Looks Forward to "Year of Opportunity"

January 14, 24 / John Jeffay

(IDEX Online) - Canadian miner Diamcor says 2024 is a "year of opportunity" after two loss-making years at its Krone-Endora at Venetia project, in South Africa.It suffered net losses of $762,000 in 2023 as it battled power supply issues and $2.4m in 2022, but said in a statement that it had navigated its way through the complex global and industry issues of recent years.Diamcor acquired Krone-Endo...Read More

Burgundy to Extend Life of Canada's First Diamond Mine

January 14, 24 / John Jeffay

(IDEX Online) - The owners of Ekati, Canada's first diamond mine, say they plan to extend its life by developing its underground operations. Australia-based Burgundy aims to continue operations "towards 2040", it said in a letter to shareholders dated 9 January. The initial mine life was forecast as 2015 when it opened in 1998.It plans to expand underground mining at one of the mine'...Read More

Lucara Recovers 166-ct Diamond at Karowe

January 14, 24 / John Jeffay

(IDEX Online) - Lucara has announced its first notable recovery of 2024, a 166-ct Type IIa gem.It is the 328th +100-ct diamond since the Karowe mine, in Botswana, began commercial production in 2012.The stone was recovered in the Coarse XRT unit from direct milling of ore sourced from the M/PK(S) unit of the South Lobe.Karowe has also yielded four +1,000-ct diamonds in that time, most recently a 1...Read More

Gem Diamonds' First Big Recovery of 2024

January 11, 24 / John Jeffay

(IDEX Online) - Gem Diamonds has recovered a high quality 295 carat Type II white diamond from its Letseng mine in Lesotho.It's the miner's first +100-ct diamond of 2024. Last year Gem recovered five, including two in October, weighing 117.47 carats and 110 carats. But that's down on its long-term average of eight a year. In 2022 it recovered four.Letseng, known as the highest...Read More

Q3 Revenue Surges at Titan Company

January 11, 24 / John Jeffay

(IDEX Online) - India's Titan Company saw revenue from its jewelry stores rise by 23 per cent during Q3, driven by increasing consumer confidence and moderate price rises. Earnings from CaratLane, the e-tailer now owned almost entirely by Titan, were up by 31 per cent year-on-year, according to a quarterly update which provided percentage increases but not actual revenues.Titan, which wa...Read More

De Beers and Signet Join Forces in Botswana

January 11, 24 / John Jeffay

(IDEX Online) - The CEOs of De Beers and Signet Jewelers met this week in Botswana to discuss future collaboration opportunities.Al Cook and Gina Drosos met their teams at Jwaneng, the world's most valuable diamond mine, and at Signet's dedicated diamond polishing factory, which employs over 200 people.They are working together to identify opportunities to promote the positive economic i...Read More

$1bn to Extend Life of Debswana's Biggest Mine

January 10, 24 / John Jeffay

(IDEX Online) - Debswana has approved a $1bn investment to enable underground mining at Jwaneng, its biggest deposit.Work will start in May on a drilling platform for the comprehensive sampling of kimberlite pipes, it said today (10 January).Jwaneng opened in 1982 as an open pit operation run by Debswana, a 50:50 joint venture between De Beers and the Botswana government. Open pit operations...Read More

GIA Aims to Combat "Cloned Diamond" Fraud

January 10, 24 / John Jeffay

(IDEX Online) - GIA says it aims to combat "cloned diamond" fraud by offering same-day verification of its inscriptions.The move comes as an increasing number of lab growns are being fraudulently submitted for re-grading. They are cut to match the specifications of natural diamonds that have already been graded and inscribed with either with a GIA number (genuine or fake).GIA says that from next w...Read More

Sarine and GCAL Open New Surat Lab

January 10, 24 / John Jeffay

(IDEX Online) - Sarine and GCAL are opening a new grading lab in Surat, India, after the companies merged last year.Sarine, the Israel-based diamond tech business known for its Galaxy mapping systems, acquired a 70 per cent stake in US-based GCAL (Gem Certification & Assurance Lab).GCAL currently operates just one lab, at its New York base. Sarine said the merger would allow GCAL to expand its...Read More

De Beers Resumes Rough Auctions

January 10, 24 / IDEX Online

(IDEX Online) - De Beers is resuming its rough diamond auctions next week for the first time since last September.The UK-based miner cancelled the online sales during its 9th and 10th sales cycles as demand slumped globally.Al Cook, CEO, said at the time that De Beers was suspending the auctions to help "re-establish equilibrium between wholesale supply and demand".The first rough auction of 2024...Read More

Christmas and Lab Growns Push Pandora's Revenue to $1.58bn

January 09, 24 / John Jeffay

(IDEX Online) - Pandora reported a Q4 surge in revenue, with strong Black Friday and Christmas performances, and a near doubling of its lab grown sales.The Danish jeweler best known for its charm bracelets reported a 12 per cent increase in organic growth (9 per cent like-for-like) to $1.58bn."Key markets in Europe remained solid at 5 per cent growth, US accelerated to +10 per cent growth and Rest...Read More

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