RAPAPORT... Four of Asia's industry groups have agreed to work together on standardizing language and rules for the diamond trade. The National Gemstone Testing Center (NGTC), the Gem andJewelry Institute of Thailand (GIT), the Gemmological Institute of India (GII),and the China Gems & Jade Exchange (CGE) signed a memorandum of understanding(MoU) to further that effort, the NGTC said. Th...Read More
Diamcor, a Canadian junior diamond miner, said it had sold 1,220 carats of rough diamonds from the Krone-Endora at Venetia project in South Africa at its second tender held in the first quarter of the year. The sale netted the junior miner $376,000, with an average price of $308 per carat sold. This represented a significant improvement over the average price - $176 per carat - on all rough diamon...Read More
GIA (Gemological Institute of America) opened its new laboratory in Kowloon in the presence of Susan Jacques, GIA president and CEO, and Tom Moses, GIA executive vice president and chief laboratory and research officer. The opening reception of GIA's new and expanded location was held in mid-February with laboratory clients and industry executives in attendance. "Hong Kong is a vital center of th...Read More
ALROSA of Russia, a global, leading diamond producer, reported it has sold $345.6 million worth of rough and polished diamonds in February. The sales amount represents an increase of 23 percent compared to January 2019. ALROSA's rough diamond sales increased to $340.6 million, compared to $278.2 million in January 2019, while polished diamond sales grew to $5 million, compared to $3.4 million a m...Read More
Jewelers of America (JA) has announced the agenda and opened registration for the first annual Jewelers of America National Convention, an education-focused executive forum open to jewelry professionals. The Convention will take place July 28-29, 2019, at the Intercontinental New York Barclay in New York City The two-day convention will feature data-driven keynote presentations and a wide range of...Read More
Canadian diamond miner Star Diamond shared the results of a recent survey of its Star and the Orion South kimberlites, confirming the relative abundance of type IIa diamonds at these projects in central Saskatchewan. Across the board, type IIa diamonds make up less than three percent of a diamond mine's production. Therefore, the results of this study conducted which estimate that 26.5 percent of...Read More
Neiman Marcus Group Ltd. reported that it is in discussions with bondholders to extend its repayment deadline to 2023. In case an agreement is finalized, Neiman Marcus would be able to avert a possible default of $5 billion of debt that would be due for payment during the coming two years. As part of the agreement, the company offered bondholders a share in MyTheresa, Neiman Marcus' international...Read More
Russian diamond miner Alrosa in February sold rough and polished diamonds worth $345-million, which was up 23% compared with January’s sales of $281-million, but down significantly on the $541.9-million sold a year earlier.Rough diamond sales in February comprised $340-million, compared with $278-million in January, while polished diamond sales comprised $5-million, compared with $3.4-millio...Read More
RAPAPORT... Sales at Alrosa fell 36% year on year to $345.6 millionin February as a slowdown in the rough market continued. Rough-diamond sales dropped 36% to $340.6 millionfor the month, according to Rapaport calculations based on Alrosa reports.Polished revenues slid 45% to $5 million. Overall demand has improved versusJanuary, however, with total sales up 23% month on month, the Russian miner s...Read More
SGS Canada is launching a new service for the metals and mining industry - Field Analytical Services and Testing (FAST), in North America and Australia. FAST provides real-time data acquisition in the field by pairing portable instrumentation and machine learning. It will bring instrumentation into the field, provide data within 24 to 48 hours and, with the use of machine learning, enable real-ti...Read More
Zimbabwean Finance Minister Mthuli Ncube said a rule requiring local investors to control platinum mines will be scrapped and foreigners will be allowed to own 100% in a bid to revive investment."We are removing that indigenization rule, which is discouraging foreign direct investment," Ncube said in an interview with Bloomberg Television in Washington. "We say Zimbabwe is open for business; you c...Read More
RAPAPORT... Graff has bought the New York property that has housed itsflagship boutique for nearly 20 years, the London-based jeweler said Tuesday. The building, at 710 Madison Avenue on the corner of 63rd Street, was designed by celebrated US architect Peter Marino, who has alsocreated stores for other high-profile clients, including Calvin Klein, Chanel, ChristianDior and Louis Vuitton. Gr...Read More
RAPAPORT... HRD Antwerp has changed the language it uses in itslab-grown-diamond certificates to match its reports for natural stones. The grading lab, which has issued documents for loose synthetics since 2013, has expanded its color categories for lab-grown diamonds, andhas updated its 4Cs terminology to correspond with the certificates it issuesfor mined diamonds. While the old lab-grown-...Read More
RAPAPORT... Russian diamond manufacturer Kristall Smolensk is selling areplica of the Great Imperial Crown of the Russian Empire on RapNet's newjewelry platform for $15.5 million. The crown, which weighs 2.3 kilograms, comprises more than11,000 round, oval and pear-shaped white diamonds, weighing 1,928 carats andset in white gold. The stones were sourced from Russian miner Alrosa, certifiedby...Read More
RAPAPORT... De Beers' sales fell for the second consecutive month, ashigh rough prices and slim midstream profits softened demand from buyers,sightholders reported. Sales of $490 million in February were 13% below ayear ago amid weak interest in lower-value goods, the miner said Tuesday. De Beers mainlykept prices steady, prompting concerns from clients, many of whom had beenhoping the company wou...Read More
De Beers Group Industry Services on Tuesday announced that all four of its diamond verification instruments (DVIs) submitted for testing as part of the Assure programme had received “outstanding” results.The Assure programme is a joint collaboration between the Diamond Producers Association (DPA) and Signet Jewelers, with input provided by other participants in the diamond industry and...Read More
De Beers Group today announced the value of rough diamond sales (Global Sightholder Sales and Auction Sales) for the second sales cycle of 2019. Sales of De Beers' second "cycle " stood at $490 , a drop of 13 percent compared to the sales figure of De Beers' second sight in 2018, which generated $563 million. "Demand for rough diamonds remained consistent during the second sales cycle of 20...Read More
Standard & Poors (S&P) issued a report saying that 2019 will be yet another year of elevated retail defaults, above the levels that were seen during the great recession of a decade ago. It noted that a significant number of retailers struggle to operate successfully in the current competitive landscape. While the United States' economy seems to be in reasonably good shape, S&P predicts...Read More
GIA's second annual GIA (Gemological Institute of America) London Jewellery Career Fair will be held on April 5, 11:30 am to 4:15 pm, at the Goldsmiths' Hall, Foster Lane, London EC2V 6BN, for an opportunity to meet gem and jewelry industry recruiters from all over Europe. The event is free and open to the public. "The GIA Jewellery Career Fair is back in London for a second year, and is eve...Read More
The World Diamond Council has welcomed the adoption of a resolution by the United Nations General Assembly (UNGA) on March 1, which calls for a strengthening of the Kimberley Process (KP), to more effectively sever the link between the illicit transaction of rough diamonds and armed conflict, thereby contributing to the maintenance of international peace and, in particular, security and sustainabl...Read More