RAPAPORT... Michael Hill will temporarily close all its Canadian stores amid the coronavirus pandemic, while locations in Australia and New Zealand currently remain open. The jeweler's Canadian stores are set to shut for a two-week period, but the company will reevaluate and may lift or extend the shutdown as necessary based on the health situation, it said last week. During the closure, most...Read More
(IDEX Online) - Signet, the world's largest retailer of diamond jewelry, is closing all its North American stores, but those in the UK will remain open.As the coronavirus pandemic spreads globally, it says it is being guided by its "core value of People First". Staff will be paid until 4 April.All Signet's stores in the USA and Canada, most of them trading as Kay Jewelers, Zales, Jared,...Read More
RAPAPORT... The organizer of the May Hong Kong shows has put its plans for the events on hold, as quarantine rules have made it impossible to host an international fair.Measures enforced by the Hong Kong government on March 19 require all travelers arriving in the city to isolate themselves for 14 days to stem a second wave of coronavirus cases. The rule will remain in effect until June 18, t...Read More
RAPAPORT... Our heart goes out to the diamond community during these difficult times. We understand that the reduction of prices in the Rapaport Price List on March 20 is upsetting. The trade is invited to contact me directly at email prices@diamonds.net. We are reading and sensitive to all communications.It is vital that the Rapaport Price List reflect the realities of the market even when such r...Read More
As the global pandemic changes life for everyone, we at IDEX are adjusting to the "new normal". It's time to take a bold and decisive action, so we have resolved to leverage our expertise and our platform assets to help friends and colleagues in our industry. That's why we are, with immediate effect, opening up our diamond trading platform for FREE.&...Read More
RAPAPORT... Tiffany & Co. reported solid sales in fiscal 2019 as it introduced new products and sold higher-value jewelry.Group revenue was flat at $4.4 billion for the year ending January 31, matching the record annual sales figure the company reported in 2018. Sales increased 2% to $1.3 billion in the Asia-Pacific region, while revenue in the Americas fell 2% to $1.9 billion. Sales in J...Read More
RAPAPORT... Kering, the owner of Gucci, Saint Laurent and Boucheron, said demand in China was starting to recover, even as the effects of the coronavirus intensified in other locations."The group is observing encouraging signs in mainland China, where the decline in store traffic, and hence in sales, is narrowing," the company reported Friday. "Conversely, the impact of the epidemic remains s...Read More
RAPAPORT... Dominion Diamond Mines has put all operations at its Ekati mine in Canada on hold indefinitely in an effort to protect workers from the coronavirus pandemic.The miner has suspended operations at the Northwest Territories site because of the area's remote location and the large amount of air travel necessary for workers and support staff to get to the mine, it said last week. None...Read More
RAPAPORT... Swiss watch exports fell in February, as the coronavirus pandemic led to the worst monthly decline in Hong Kong in the last 20 years.Shipments dropped 9% to CHF 1.6 billion ($1.62 billion) for the month overall. Supply to Hong Kong dropped 42% to CHF 142.6 million ($144.6 million) and to China plunged 52%. Exports to the US, which hadn't yet been affected by the coronavirus, continued...Read More
RAPAPORT... Signet Jewelers is shutting all its stores in North America due to the coronavirus, a company spokesperson confirmed with Rapaport News.The temporary closure goes into effect at the close of business on Sunday, the spokesperson said. It applies to its Kay Jewelers, Zales, Jared, James Allen, Peoples and Piercing Pagoda store brands.The company will inform customers this weekend vi...Read More
RAPAPORT... Tiffany & Co. reported solid sales in fiscal 2019 as it introduced new products and sold higher-value jewelry.Group revenue was flat at $4.4 billion for the year ending January 31, matching the record annual sales figure the company reported in 2018. Sales increased 2% to $1.3 billion in the Asia-Pacific region, while revenue in the Americas fell 2% to $1.9 billion. Sales in J...Read More
RAPAPORT... Swiss watch exports fell in February, as the coronavirus pandemic led to the worst monthly decline in Hong Kong in the last 20 years.Shipments dropped 9% to CHF 1.6 billion ($1.62 billion) for the month overall. Supply to Hong Kong dropped 42% to CHF 142.6 million ($144.6 million) and to China plunged 52%. Exports to the US, which hadn't yet been affected by the coronavirus, continued...Read More
RAPAPORT... The COVID-19 pandemic that has swept the globe has had a notable impact on the diamond industry, with new developments unfolding every day. Here, we present a one-stop, running news feed on industry events impacted by the virus.March 22?EUR?Signet Jewelers announces all its stores will remain closed across its North America banners, including Kay Jewelers, Zales, Jared, James Alle...Read More
Drilling solutions provider Lesedi Drilling & Contract Mining, in collaboration with its subsidiary, drill bit supplier Thriftline, has developed a removable reaming shell for its diamond drill bits, which the company believes will significantly reduce drilling consumable expenses.The reaming shell – a permanent fixture on standard drill bits – ensures that the bore hole size remai...Read More
Global diversified miner Anglo American has announced measures it is implementing across its mining and corporate operations in light of the Covid-19 outbreak.CE Mark Cutifani on Friday said the measures were tailored to the specific nature and location of a particular site to protect the wellbeing of staff and those who interact with the business around the world.AdvertisementAnglo has put in pla...Read More
RAPAPORT... Prices at Gem Diamonds' latest small-stone tender dropped 18% versus its previous sale in November due to the coronavirus pandemic and subsequent economic crisis, the company said Thursday."The results of the Let??eng small-diamond tender are resilient given the difficult circumstances under which the tender was held, caused by the ongoing COVID-19 situation," said Gem Diamonds CE...Read More
JSE-listed Basil Read’s mining arm Basil Read Mining subsidiary Blasting and Excavating (B&E)has entered into a partnership with India- based original-equipment manufacturer (OEM) Revathi Equipment and other local partner Paramount Tracks to acquire several C650 autonomous drills.“We are taking a step forward to introduce specialised technology to limit safety risks for our most im...Read More
RAPAPORT... Luk Fook expects a sharp fall in both revenue and profit for the full fiscal year amid a lockdown in all its major markets due to the coronavirus."Based on...data for...January and February, and the preliminary assessment of the operational situation in early March, there will be an acute drop in the revenue for the fourth quarter," the retailer said Wednesday. "It is therefore hi...Read More
(IDEX Online)- Lucapa has recovered a top-quality 64-carat from its Mothae kimberlite mine in Lesotho.The Australia-based miner says it's a D-colour Type IIa gem. It brings to 12 the number of +50 carat diamonds recovered from the mine since commercial production started in January 2019. There have also been three +100 carat diamonds from Mothae, which yielded over 30,000 carats in...Read More
RAPAPORT... New York's Diamond Dealers Club (DDC) has shut due to the coronavirus outbreak in the US, the organization said in a note to members earlier this week."We do not take this action lightly, but our first duty is to protect our members and our community," the notice read.The move, effective March 16, followed consultations with state and local medical and legal professionals and with...Read More