RAPAPORT... Lucara Diamond Corp.'s sales fell in 2020 as the miner held back special-sized rough from its Karowe mine in Botswana in the first half amid weak market prices."The measures that Lucara took early in the pandemic, including the decision not to sell rough diamonds in excess of 10.8 carats..., helped protect and support prices for large, high-value diamonds that account for more than 70%...Read More
RAPAPORT... De Beers has increased rough-diamond prices by an average of around 4% to 5% at this week's sight as momentum in the market continues.The changes focused on rough above 1 carat, with prices of smaller diamonds stable, market insiders told Rapaport News. The hikes were around 2% to 4% in the 1- to 2-carat category, reaching up to 10% in the 5- to 10-carat sizes, a sightholder repor...Read More
(IDEX Online) - A fund for Namibia's former political inmates of South Africa's notorious Robben Island prison is prospecting for diamonds.It is now seeking to extend its license to explore a 1,500-hectare concession along the Orange River on the Namibia/South Africa border for alluvial gems.Proceeds from the sale of diamonds will benefit the Namibian Former Robben Island Political Priso...Read More
(IDEX Online) - Signet has donated $1m to provide COVID-19 jabs for school staff in Akron, Ohio, USA.The jeweler has a long-standing charitable link with the city's Akron Children's Hospital, which had to suspend many non-essential procedures last year because of the pandemic."This gift comes at a critical time to help provide a valuable service to our local schools so our kids and their...Read More
RAPAPORT... The diamond and jewelry trade had a relatively successful holiday season, considering the difficult consumer and trading conditions it experienced in 2020. However, rough and polished inventories remain at reasonable levels, even though production has increased and trading has improved, Rapaport Senior Analyst Avi Krawitz explained in the quarterly Diamond Trends Webinar last week.Whil...Read More
(IDEX Online) - Ronnie VanderLinden has stepped down after eight years as president of the Diamond Manufacturers & Importers Association of America (DMIA). In a farewell message he urges members - manufacturers, importers, and dealers - to embrace e-commerce.He writes: "The current focus of online business, an adjustment to the reality that has been pushed to the forefront for all of us,...Read More
(IDEX Online) - A Hatton Garden jeweler has ditched the term "bridal" from all its literature.It also says it will no longer uses the word "her" when referring to ring sizes.Queensmith Master Jewellers, in the heart of London's traditional diamond area, describes itself as "Gay-Friendly" on its website.It says at least five per cent of its customers are from same-sex couples and says it is mo...Read More
RAPAPORT... JCK's first diversity grant has gone to the Black in Jewelry Coalition (BIJC), which will use the funds in its efforts to help Black professionals progress in the industry."This grant helps us hit the ground running with many of the initiatives we have planned this year and beyond," BIJC president and cofounder Annie Doresca said last week. The JCK Industry Fund will help BIJC - the fi...Read More
RAPAPORT... Boaz Moldawsky has been elected president of the Israel Diamond Exchange (IDE) for a three-year term, succeeding Yoram Dvash.Moldawsky, who has previously served as vice president of the IDE, won after two rounds of voting, the IDE said Sunday. The co-CEO of the Moldawsky Group, a diamond-manufacturing and trading company, has also been chairman of the Israel Diamond Institute (IDI). A...Read More
(IDEX Online) - A billionaire with diamond and copper interests in Congo reportedly had his assets unfrozen in the final days of the Trump administration.Israeli Dan Gertler, 47, (pictured) had long been accused of striking corrupt deals in the country, and in 2017 he had his US assets frozen.But in a surprise move he reached a one-year agreement with Trump's treasury secretary to unlock thos...Read More
(IDEX Online) - Boaz Moldawsky has been elected as new president of the Israel Diamond Exchange (IDE).He will take over from Yoram Dvash, who stood down after five years in office to focus on his role at the helm of the World Federation of Diamond Bourses.Mr Moldawsky, 54, (pictured) a former vice president of the IDE, emerged yesterday as winner of a tense election, which went to a second round o...Read More
RAPAPORT... Boaz Moldawsky has been elected president of the Israel Diamond Exchange (IDE) for a three-year term, succeeding Yoram Dvash.Moldawsky, who has previously served as vice president of the IDE, won after two rounds of voting, the IDE said Sunday. The co-CEO of the Moldawsky Group, a diamond-manufacturing and trading company, has also been chairman of the Israel Diamond Institute (IDI). A...Read More
RAPAPORT... The World Jewellery Confederation (CIBJO) has released a consumer-targeted publication explaining how to describe and categorize pearls.The 62-page "CIBJO Guide for Classifying Natural Pearls and Cultured Pearls" is a reference point for the general public and the jewelry trade, the organization said Thursday. Dealing with both seawater and freshwater specimens, the free, download...Read More
RAPAPORT... Rio Tinto's rough-diamond sales fell 26% to $459 million in 2020 as the coronavirus crisis limited global trading, the mining group reported."A heavy decline in spending on jewelry impacted underlying demand, while lockdowns in India's manufacturing centers restricted the volume of rough diamonds purchased from miners," Rio Tinto said last week. Realized diamond prices slid 21%, i...Read More
(IDEX Online) - Alrosa says it has allocated $11.5m this year towards a social fund for residents in Yakutia (Republic of Sakha), one of its main areas of operation.The money will go towards building new cultural, educational, healthcare, and sports facilities, as well as environmental protection.The Russian state-owned miner, which has open-pit, underground mining and alluvial operations in the r...Read More
(IDEX Online) - The growth in sales of US watches and jewelry slowed markedly in December. It was still up 11.5 per cent year-on-year, but the rate of increase is down from its peak of 16.7 per cent in September. In addition, the November figure has been revised significantly down from 16.6 per cent to 13.6 per cent, based on actual through-the-till transactions rather than estimates. As a result,...Read More
RAPAPORT... Swiss watch exports fell 11% year on year to CHF 1.59 billion ($1.78 billion) in January, the 12th consecutive monthly drop, as demand slowed in the US and in key Asian markets.Shipments to the US declined 11% to CHF 183.3 million ($204.5 million), partly because strong figures in January 2020 created an unfavorable comparison, the Federation of the Swiss Watch Industry said Thurs...Read More
RAPAPORT... The developer of a new jewelry retail complex in Miami has secured a $23.6 million loan, enabling it to move forward with the project.The funds from City National Bank of Florida will go toward completing phase one of the Time Century Jewelry Center program. This consists of constructing the building's retail and wholesale space, which spans the basement, ground, mezzanine and sec...Read More
(IDEX Online) - Jewelry retailers in China are expanding their operations as post-pandemic sales surge.Chow Tai Fook opened 543 new stores in the second half of 2020, a sign of its confidence in the post-Covid recovery. It now has of 4,442 retail outlets and saw sales volumes increased by 17.5 per cent in the fourth quarter.Lukfook recorded a net increase of 225 mainland stores in the year,...Read More
RAPAPORT... The developer of a new jewelry retail complex in Miami has secured a $23.6 million loan, enabling it to move forward with the project.The funds from City National Bank of Florida will go toward completing phase one of the Time Century Jewelry Center program. This consists of constructing the building's retail and wholesale space, which spans the basement, ground, mezzanine and sec...Read More