Diamond stocks Articles

Jewelers See Positive Signs as Business Restarts

Jul 02, 2020 / Leah Meirovich

RAPAPORT... Times are hard for luxury in general, and jewelry in particular. In a recent survey by McKinsey & Company, jewelry was one of the luxury products consumers were most willing to forgo post-Covid-19, considering the financial crisis the virus has left in its wake. The question is, how does discretionary spending fit into the "new normal," and what does the future hold for the average...Read More

Yours For $3,200 - The Pokemon Diamond Engagement Ring

July 02, 20 / John Jeffay

(IDEX Online) - Declare your undying love with a diamond engagement ring based on a Pokemon character.The 0.3-carat solitaire (pictured) is set between a pair of gold ears belonging to Pikachu, a fictional yellow rodent that appears in video games, TV shows, movies, trading card games, comic books and much besides.The Pokemon empire is marketing this and two other engagement rings, in partnership...Read More

Diamond Giant Develops Low-Cost COVID-19 Ventilator

July 02, 20 / John Jeffay

(IDEX Online) - Subsidiaries of the Indian diamond giant Dharmanandan have developed a low-cost ventilator to sav the lives of COVID-19 patients.The device, (pictured) which costs under $3,500, was launched yesterday.Dharmanandan, with a $1bn annual turnover, developed the Respiwin device in just five months through its Dharmanandan Research Centre (DRC) Techno and InnovSeed company.A team of...Read More

India Extends Import Curbs as Surat Shuts Again

Jul 01, 2020 / Joshua Freedman

RAPAPORT... Indian trade bodies have recommended continued limits on rough-diamond imports in July, with a fresh weeklong shutdown of the Surat cutting sector adding to concerns about the market.The Gem & Jewellery Export Promotion Council (GJEPC) and four other organizations have called for the industry to avoid shipping rough into the country between July 10 and 31. They are giving comp...Read More

29ct. Diamond Sets Online Record at Christie's

Jul 01, 2020 / Rapaport News

RAPAPORT... Christie's brought in more than $4 million at its latest digital sale, with a 29-carat diamond earning the highest online price ever for a jewel.The emerald-cut, 28.86-carat, D-color, VVS1-clarity, type IIa diamond ring garnered $2.1 million, beating its $2 million high estimate at the Jewels Online sale, Christie's said Tuesday. The piece received offers as soon as the sale start...Read More

Alrosa Re-opens Mine after 12 Workers Test Positive for COVID-19

July 01, 20 / John Jeffay

(IDEX Online) - Alrosa has resumed operations at its International underground mine, a week  after a dozen workers tested positive for COVID-19.The mine (pictured), close to the town of Mirny, in the subarctic Russian republic of Sakha, yields some of the world's highest diamond grades, and produced 2.2 million carats in 2019.All staff have now been tested. Those awaiting results have be...Read More

$2.1m Record Sale Price for an Online Diamond

July 01, 20 / John Jeffay

(IDEX Online) - A 28.86-carat type IIa D-color diamond has sold for $2.1m, a world record high price for an online-only auction.Christie's say the near-flawless, VVS1-clarity emerald-cut stone (pictured) just exceeded a high estimate of $2m, attracting 31 bids during the two-week sale, which ended yesterday.The diamond's estimate in the Jewels Online sale was $1m to $2m."The sale of this...Read More

Coronavirus: IIJS Postponed to January 2021

July 01, 20 / John Jeffay

(IDEX Online) - India's biggest show for the jewelry trade has been postponed from August to January 2021 because of COVID-19.The India International Jewellery Show (IIJS) Premiere typically attracts 40,000 visitors and over 1,300 exhibitors.Organizers GJEPC (Gem and Jewellery Export Promotion Council) are hoping lockdowns and travel restrictions will be over by then.The show, which had been...Read More

IDEX Price Report: Polished Diamond Prices are Flat in June

July 01, 20 / IDEX Online

(IDEX Online) - Polished diamond prices showed very little movement in June, significantly less than May. There was a scattering of modest increases and decreases among sporadic colors and clarities, but not enough to draw firm conclusions about where the market is heading. Rounds showed marginally more activity than fancies and overall movement was up rather than down, but only jus...Read More

Hong Kong Retail Sales Fall Sharply in May

Jun 30, 2020 / Rapaport News

RAPAPORT... Sales of jewelry and other luxury items in Hong Kong plunged in May, even as the market showed signs of recovery amid an easing of the city's coronavirus crisis.Revenue from jewelry, watches, clocks and other valuable gifts slid 70% year on year to HKD 2.02 billion ($261 million) for the month, as the halt to tourism continued, and many locals were unemployed or in difficult financial...Read More

Alrosa Mine Reopens Following Virus Closure

Jun 30, 2020 / Rapaport News

RAPAPORT... Alrosa has resumed operations at its International underground mine following a brief suspension after several employees tested positive for Covid-19.Management at the Russian miner's Mirny mining and processing division, which oversees the site, decided to reopen International after the majority of workers tested negative for the virus, Alrosa said Tuesday. A total of 12 employees tes...Read More

Dubai, China Establish Diamond Partnership

Jun 30, 2020 / Rapaport News

RAPAPORT... The Dubai Multi Commodities Centre (DMCC) has signed an agreement with China's Guangzhou Diamond Exchange (GZDE) that will create new trading opportunities for both parties."This agreement will further advance the strong and long-standing cultural and commercial ties that exist between the UAE [United Arab Emirates] and China," said Ahmed Bin Sulayem, CEO of the DMCC and chairman of th...Read More

IGI Opens Doors in New York

Jun 30, 2020 / Rapaport News

RAPAPORT... The International Gemological Institute (IGI) is reopening its New York grading laboratory following a three-month closure amid the coronavirus pandemic."As the metropolitan area has been cleared to enter phase 2, the institute is safely restarting business operations," IGI North America president Avi Levy said Monday. Initially, the institute will implement a gradual rollout, limiting...Read More

India's Diamond Industry Faces Third Ban on Rough Imports

June 30, 20 / John Jeffay

(IDEX Online) - India's diamond industry is being urged to accept upon itself a third voluntary ban on rough imports.An appeal has been issued to halt all purchases between 10 and 31 July.  It follows similar appeals on 23 April and 19 May.An estimated $7bn of rough and polished diamonds have been stuck in India, the world's cutting and polishing capital, since the country first wen...Read More

Hard-Hit Swarovski Axes 600 Jobs

June 30, 20 / John Jeffay

(IDEX Online) - Swarovski is to axe 600 jobs in response to a "massive" decline in sales.The family-owned Austrian business empire, known for its crystal jewelry and swan logo, will shed almost one in 50 of its 34,500 workforce as it embarks on a restructuring plan.Two hundred jobs will go at its headquarters in Austria's Tyrol region."The international luxury market has been hit hard by the...Read More

Struggling Petra, Owner of "Crown Jewels" Mine, Seeks a Buyer

June 30, 20 / John Jeffay

(IDEX Online) - Petra Diamonds is seeking a buyer as debts mounts and revenue slumps.The UK-listed company operates the world-famous Cullinan mine in South Africa, source of the largest rough gem-quality diamond ever - the 3,106.75-carat Cullinan Diamond that became part of the British Crown Jewels. In addition, it operates the Finsch and Koffiefontein mines, also in South Africa, and the Wil...Read More

Daytrip Mom Finds 2.23-carat Brown Diamond at "Dig-Your-Own" Mine

June 30, 20 / John Jeffay

(IDEX Online) - A visitor to one of the world's only dig-your-own-diamond attractions has walked away with a 2.23-carat stone.Beatrice Watkins, 56, was sifting soil at the Crater of Diamonds State Park, Arkansas, USA, a former commercial mine turned visitor attraction that now admits amateur miners for $10-a-day.She unearthed the biggest diamond this year and is allowed to keep it under rules...Read More

Alrosa Mine Restarts Following Virus Closure

Jun 30, 2020 / Rapaport News

RAPAPORT... Alrosa has resumed operations at its International underground mine following a brief suspension after several employees tested positive for Covid-19.Management at the Russian miner's Mirny mining and processing division, which oversees the site, decided to reopen International after the majority of workers tested negative for the virus, Alrosa said Tuesday. A total of 12 employees tes...Read More

IGI Opens Doors at New York Grading Lab

Jun 30, 2020 / Rapaport News

RAPAPORT... The International Gemological Institute (IGI) is reopening its New York grading laboratory following a three-month closure amid the coronavirus pandemic."As the metropolitan area has been cleared to enter phase 2, the institute is safely restarting business operations," IGI North America president Avi Levy said Monday. Initially, the institute will implement a gradual rollout, limiting...Read More

Buyers Snub De Beers and Alrosa over High Prices

Jun 29, 2020 / Joshua Freedman

RAPAPORT... De Beers and Alrosa continued to see rock-bottom sales in June as buyers rejected the miners' high rough prices in favor of cheaper goods from smaller suppliers."[The major miners] want to hold on to prices, so people don't see any [incentive] to buy because it's difficult to sell and make money," a sightholder told Rapaport News. "[Manufacturers and dealers] are already sitting o...Read More