RAPAPORT... US couples spent 4% more on engagement rings in 2019, according to a survey by wedding resource The Knot.Consumers that took part in the study paid approximately $5,900 on average for their engagement ring in 2019, versus $5,680 the previous year, The Knot said last week. That came despite the average amount the 25,000 respondents paid for a wedding remaining steady at $33,900, co...Read More
(IDEX ONLINE) - A number of the alluvial diamonds recovered from stream bulk sampling at Lulo, Angola, are Type IIa - exceptionally rare and pure.The ASX-listed Lucapa Diamond Company last week reported it had found 45 diamonds of up to 3.75 carats from hard-rock kimberlite sources in the Canguige tributary.It says follow-up analysis has now confirmed the presence of the Type IIa gems, along with...Read More
(IDEX Online) - Lightbox is to provide limited grading information with its mass-produced lab-grown diamonds.The De Beers lab-grown brand decided not to grade its diamond when it launched in September 2018.But CEO Steve Coe says the company is now responding to consumer feedback by providing basic grading information.All LGD stones above 0.2 carats will come with minimum specifications for c...Read More
RAPAPORT... US couples spent 4% more on engagement rings in 2019, according to a survey by wedding resource The Knot.Consumers that took part in the study paid approximately $5,900 on average for their engagement ring in 2019, versus $5,680 the previous year, The Knot said last week. That came despite the average amount the 25,000 respondents paid for a wedding remaining steady at $33,900, co...Read More
(IDEX Online) - Chow Tai Fook has reportedly laid off staff at its newly-launched US operation.Hong Kong's leading jewelry corporation established its North American hub last May, with headquarters in Boston.Chow Tai Fook North America, which owns the Hearts On Fire and Memoire brands, has reduced head count, according to JCK Online, although a spokesperson declined to give further details.Pa...Read More
(IDEX Online) - Alrosa has unearthed its first colored rough diamond at the huge new Verkhne-Munskoye deposit in Yakutia, Russia. The bright yellow gem-quality diamond weighs 17.44 carats and was recovered earlier this month from the Zapolyarnaya kimberlite pipe, which started operations at the end of 2018. The transparent crystal with a habit transitional between octahedron and dodecahedron has d...Read More
Mining consulting firm The MSA Group is hoping that the review of Namibia’s Minerals (Prospecting and Mining) Act will enhance the country’s ‘friendliness’ towards mining investors.The MSA Group principal consultant Mike Robertson says the 1992 legislation has been under review since 2018. Although the aim was to implement the legislation last year, it has been delayed, owi...Read More
ASX-listed Lucapa Diamond Company says further analysis of diamonds recovered at its Lulo project, in Angola, has confirmed the presence of rare Type IIa gems and light fancy yellow diamonds.This follows after the company earlier this week announced the recovery of 45 diamonds weighing 30.3 ct from a stream bulk sample that was taken from the Canguige tributary draining into the Cacuilo river vall...Read More
Sentiment low owing to tight liquidity and slow polished demand. Buyers seeking discounts and looking for desperate sellers. Dealers maintaining weak 1H outlook, with concerns Chinese jewelers will return large volume of unsold goods. US supporting the market and showing steady interest in 1 ct., G-J, VS2-I1 diamonds. IIJS Signature fair signals shift to lighter-weight wedding jewelry due to high...Read More
China slowdown affecting global sentiment. Diamond markets quiet as coronavirus reduces value across the supply chain. Chinese and Hong Kong jewelers remain closed and lack of Chinese tourism likely to impact European and US luxury brands. US retailers consider short-term alternatives to Chinese suppliers. Diamantaires concerned about delayed payments from Hong Kong buyers. Reduced demand leading...Read More
JOHANNESBURG (miningweekly.com) – Anglo American CEO Mark Cutifani on Thursday described the building of the world’s largest hydrogen fuel cell haul truck in Limpopo as a great initiative that would in time be rolled out across the platinum group metals (PGMs), diamonds, copper and iron-ore mining company.Hydrogen fuel cell technology, which is platinum rich, is increasingly showing cl...Read More
JOHANNESBURG (miningweekly.com) – The strong 2019 earnings margins of Anglo American are poised to strengthen further in 2020, CEO Mark Cutifani said on Thursday.The 2019 earnings before interest, taxes, depreciation and amortisation (Ebitda) margins of the London- and Johannesburg-listed diversified mining company ranged from 40% to 44% in the 12 months to end December. (Also see attached e...Read More
JOHANNESBURG (miningweekly.com) – The smart technology and efficiency enhancing programmes of diversified mining company Anglo American have netted the company $4.7-billion so far.FutureSmart Mining (TM) programmes deliver additional value from equipment and processes and P101 uplifts the performance of existing operating assets, the products of which have been tailored foster a cleaner, gre...Read More
(IDEX Online) - Peter Meeus, the former managing director of HRD Antwerp, has put in a second bid for the diamond lab after his first offer was rejected. Meeus submitted his bid through a Letter of Intent (LOI) that he said complies with the terms originally communicated by the Antwerp World Diamond Centre (AWDC) and matches the asking price and conditions. This includes the purchase of a 51-...Read More
(IDEX Online) - The Bharat Diamond Bourse (BDB) will hold the fourth edition of the Bharat Diamond Week (BDW) from August 5-7 at the BDB in Mumbai. Over 150 diamond companies are expected to take part in the event."The Bharat Diamond Week encourages small and medium sized companies who are bourse members to display their products and take advantage of the subsidies offered by the Bharat Diamond We...Read More
A key issue creating uncertainty among Namibia’s mining investors is the nondeductibility of royalties and export levies for nondiamond mining, which was announced during the Namibian 2019/20 Budget Speech by Namibian Finance Minister Calle Schlettwein, presented to Namibia’s Parliament in Windhoek, in March last year.At the time, Schlettwein also announced that export levies for dimen...Read More
(IDEX Online) - De Beers has reported lower production, sales and underlying earnings for 2019 as it faced "significant challenges for rough diamond demand". It predicted the return to "a more balanced position" of stock levels and an increase in production in 2020 in its preliminary financial results for last year, published today. But it sounded a note of caution over a range of risks, namely re...Read More
RAPAPORT... De Beers gave a positive outlook for 2020 due to an improvement in the industry's inventory situation, despite growing concerns about Chinese demand.Early data from the holiday season indicate midstream stock levels are more balanced than they were, the company reported Thursday in parent company Anglo American's annual financial results. The miner maintained its production foreca...Read More
RAPAPORT... Swiss watch exports rose in January as demand in the US continued to increase, propelling the country past Hong Kong to become the largest importer of the luxury product.Shipments to all countries grew 9% to CHF 1.79 billion ($1.82 billion) in January, the Federation of the Swiss Watch Industry reported Thursday. That figure mainly reflects a 15% increase in exports to the US, whi...Read More
RAPAPORT... Signet Jewelers has introduced its first foreign-language advertising campaigns in the US market, targeting the growing number of Hispanic millennials expected to marry in the coming years."They are a big customer group, and getting a lot bigger given the disproportionately high portion of the millennial population that Hispanics constitute," Signet executive vice president and ch...Read More