Diamond stocks Articles

Burgundy Diamond Mines Inks New Polished Deals

Aug 03, 2022 / Leah Meirovich

RAPAPORT... Australia-based Burgundy Diamond Mines has signed a two-stage agreement to provide polished fancy-color diamonds to prominent Perth jeweler Solid Gold Diamonds.The first part of the deal, set to begin this month, will see Burgundy provide colored diamonds from its Maison Mazerea brand to Solid Gold for engagement and bridal jewelry. Burgundy will receive a portion of the proceeds from...Read More

John Ford Becomes CEO at AGTA

Aug 03, 2022 / Joshua Freedman

RAPAPORT... The American Gem Trade Association (AGTA) has named Texas-based jeweler John Ford as its new CEO, the industry group announced this week. He succeeds Douglas Hucker, who stood down in March after 24 years.Ford will take on the role immediately, stepping up from his current position as an AGTA board member and its treasurer. He is the owner of John Ford Jewelers and The Lightning R...Read More

Fancy-Color Price Index Rises

Aug 03, 2022 / Joshua Freedman

RAPAPORT... Fancy-color diamond prices increased in the second quarter of 2022 as demand strengthened and supply became tight, according to the Fancy Color Research Foundation (FCRF).The Fancy Color Diamond Index gained 0.8% compared with the first quarter and was 3.1% higher than during the second quarter of 2021, the organization said Tuesday."It is evident that the increase in prices is dr...Read More

Lucapa's Q2 Sales Slide by 36% to $21.8m

August 03, 22 / John Jeffay

(IDEX Online) - Lucapa saw sales slide by more than a third (36 per cent) during the last quarter, down to $21.8m.At its Lulo deposit (pictured), in Angola - the mine where an historic 170-ct pink diamond was recovered last month - the Australian miner reported a 47 per cent drop in revenue to $15.6m.Meanwhile its smaller mine, Mothae, in Lesotho, saw a 27 per cent increase in revenue to $6.2m.&nb...Read More

Burgundy to Polish 1,200 carats of Fancy Color Diamonds

August 03, 22 / John Jeffay

(IDEX Online) - Burgundy, the Australian miner that bought the Ellendale deposit last year, says it aims to produce 1,200 carats of high-end polished diamonds annually through its dedicated facility.It says wholesale prices of will range from US$5,000 per carat to more than US$50,000. And it aims to double capacity at its Perth cutting and polishing center.Last year Burgundy bought the mothballed...Read More

Tiffany to Sell NFT Pendants for $50K Each

Aug 02, 2022 / Joshua Freedman

RAPAPORT... Tiffany & Co. has launched a non-fungible token (NFT) that comes with a real piece of jewelry, targeting an exclusive group of digital collectors."NFTiffs" will be available solely to owners of CryptoPunks, a set of valuable NFTs comprising randomly generated pixelated portraits, Tiffany said Sunday in a Twitter post.The retailer will offer 250 digital passes priced at 30 Ethe...Read More

Hong Kong Jewelry Sales Sluggish in June

Aug 02, 2022 / Leah Meirovich

RAPAPORT... Hong Kong's hard-luxury sales grew at a more moderate pace in June as the health situation deteriorated and interest rates climbed.Sales of jewelry, watches, clocks and valuable gifts rose 2.3% year on year to HKD 3.39 billion ($431.2 million) for the month, the municipality's Census and Statistics Department reported Tuesday. While sales increased, June's figure is well below May's 8%...Read More

Diamond Market Uncertain During Summer Slowdown

Aug 02, 2022 / Rapaport

RAPAPORT PRESS RELEASE, August 2, 2022, Las Vegas... Diamond trading slowed in July as US dealers closed for the two-week summer break. Economic and geopolitical uncertainty fueled caution, leading to a decline in polished prices. The RapNet Diamond Index (RAPI) for 1-carat goods fell 2.6% during July but remained 4.6% higher than at the beginning of the year. RapNet Diamond Index (RAPI) Read More

Tiffany & Co Launches $50,000 CryptoPunk NFTs

August 02, 22 / John Jeffay

(IDEX Online) - Tiffany & Co is selling limited edition pendants to owners of CryptoPunks - a set of 10,000 unique and collectible Ethereum blockchain characters.The jeweler says it's taking NFTs  (non fungible tokens) to "the next level" by creating NFTiffs, or replicas of the virtual CryptoPunk designs.Each one will have at least 30 stones, among them diamonds and colored gemstones...Read More

Fancy Color Diamond Prices Keep Rising

August 02, 22 / John Jeffay

(IDEX Online) - Fancy color diamonds prices rose by an average of 0.8 per cent in the last quarter.That's a slowdown on the previous three months (1.0 per cent Q1 2022), but still puts them way ahead of other global indices, says the New York-based Fancy Color Research Foundation (FCRF).  In Q2 2022 it says the Dow Jones was down 11.3 per cent, the S&P down 16.4 per cent, gold d...Read More

Jeweler Jailed for 77-carat Diamond Scam

August 02, 22 / John Jeffay

(IDEX Online) - A jeweler in the US has been jailed for more than 12 years after pleading guilty to an investment scam involving a 77-carat "Yellow Rose" diamond.Joseph DuMouchelle, 61, persuaded a client to make a wire transfer to the seller's account for $12m, claiming he could sell it on for $16m.But the money went into his own account and he promptly withdrew it to pay off personal and bu...Read More

Sales Downturn at Angola Mine Hits Lucapa

Aug 01, 2022 / Joshua Freedman

RAPAPORT... Lucapa Diamond Company's revenue fell 36% year on year to $21.8 million in the second quarter, reflecting an unfavorable comparison with last year's sales surge. A year earlier, the miner held a special tender of seven large, high-value rough stones from the Lulo deposit in Angola, it explained Thursday.In addition, the company saw a decline in polished revenues resulting from man...Read More

Big Diamonds to Lead Australia Jewelry Auction

Aug 01, 2022 / Leah Meirovich

RAPAPORT... A 21.13-carat diamond ring will lead Leonard Joel's upcoming Important Jewels auction, where it is expected to fetch up to AUD 900,000 ($620,362).The cut-cornered square modified brilliant-cut, K-color, SI2-clarity diamond ring is one of a number of large stones that will feature in the August 16 sale in Sydney, Australia. The auction could garner as much as AUD 8.6 million ($5.9 milli...Read More

India's Asian Star Sees Strong Revenue Growth

Aug 01, 2022 / Joshua Freedman

RAPAPORT... Sales and earnings at Indian diamond manufacturer Asian Star rose sharply in the first fiscal quarter, reflecting the market's solid rebound.Group revenue, including at subsidiaries, jumped 45% year on year to INR 12.58 billion ($159.3 million) for the three months that ended June 30, the Mumbai-based company reported Friday. Profit increased 4% to INR 216.2 million ($2.7 million)...Read More

Jewelers of America Elects New Board Directors

Aug 01, 2022 / Leah Meirovich

RAPAPORT... Four new directors will join the board of Jewelers of America (JA) for a three-year term.The directors were elected at JA's annual general meeting (AGM) on July 21, the organization said last week. The board of directors represents the fine-jewelry marketplace and advises the JA on strategic direction."I know [the four new directors] will be committed to serving Jewelers of America's m...Read More

Firewood Collector Stumbles on $25,000 Diamond

August 01, 22 / John Jeffay

(IDEX Online) - A villager collecting firewood in India stumbled on a 4.39-carat rough diamond valued at $25,000.Genda Bai, 45, was working in forest in Purusottampur, in the central state of Madhya Pradesh, when she made the find.It's an area where informal diggers routinely pay for the right to dig a small patch of land in search of diamonds - but simply finding a diamond lying on the groun...Read More

IDEX Price Report for 1 August: Rounds Down, Fancies Mixed

August 01, 22 / IDEX Online

(IDEX Online) - There were more losses again in July, especially among rounds, as the war continues in Ukraine. A more mixed picture for fancies. The only clear upward trend is among larger 'investment type' stones of 4.0-cts to 5.0-cts, which is typical when financial markets are weak and investors seek greater stability.HIGHLIGHTED CHANGES Rounds0.90-0.99 ct. D-H / VVS2-...Read More

Latest Twist in Rhodes Memorial Saga

August 01, 22 / John Jeffay

(IDEX Online) - A plaque honoring De Beers founder Cecil Rhodes at Oxford University has been given government protection.The plaque is located yards from the statue that prompted the Rhodes Must Fall campaign. Critics accuse the diamond magnate, who died in 1902, of being a racist, a white supremacist and the father of apartheid, and have called for his statue to be removed.It's the latest t...Read More

Lucara Mourns Loss of Cofounder Lukas Lundin

Jul 31, 2022 / Leah Meirovich

RAPAPORT... Lucara Diamond Corp. cofounder Lukas Lundin died last week at the age of 64 following a two-year battle with brain cancer.Lundin started his career in the early 1980s in the international energy and mining sectors, working with his father at the Lundin Group of Companies. The business, which comprises 11 firms internationally, employs more than 15,000 people and has a combined market c...Read More

US Polished Imports Jump in May

Jul 31, 2022 / Joshua Freedman

RAPAPORT... US polished-diamond imports increased 40% year on year to $2.2 billion in May, according to recent data from the country's Department of Commerce. The month is usually one of the busiest for shipments, as companies send goods to America in preparation for the JCK Las Vegas show in early June.US Trade Data for May 2022  Read More

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