Lack of exploration, mine closures and job losses in rural areas inevitable if MCIII is applied to junior minersMining Charter III (MCIII) heaps more pain on South Africa's alluvial diamond producers who already face enormous cost burdens and high risks. This previously productive and successful small or junior diamond mining industry consists of just 180 remaining entrepreneurial mining operators...Read More
Africa-focused Firestone Diamonds (LON:FDI) didn't exactly have a bright year in 2018, with its shares down almost 70% to date, and the situation likely to get worse after it reported Monday that production had dropped 13% in the second quarter of its financial year.The company's Liqhobong diamond mine in Lesotho treated 884,252 tonnes of ore in the three months to the end of December 2018 at an...Read More
South Africa's radical leftist Economic Freedom Fighters (EFF) will nationalise all mines by 2023 if elected this year, the party said in its election manifesto launched on Saturday.The party is using an anti-corruption, jobs creation and state control of the economy platform to challenge the governing African National Congress (ANC) in the election expected in May. We cannot postpone the land que...Read More
RAPAPORT... Belgium's polished exports were flat in 2018 as a higheraverage price offset a drop in volume, according to data the Antwerp WorldDiamond Centre (AWDC) released recently. Weakness in the market for smallerstones prompted an increase in trading in larger diamonds, leading to thehighest annual average price on record, Rapaport archives show. Strong polisheddemand in the US and Hong Kong...Read More
RAPAPORT... A New York district court has granted jewelerDavid Yurman protection against websites selling counterfeitmerchandise under its brand. Judge Paul Oetken issued a permanent injunction against 31unnamed websites, preventing them from distributing, advertising or selling anyfake David Yurman products, the jeweler said last week. He also awarded thejeweler nearly $1.6 million in statut...Read More
RAPNET PRESS RELEASE, February 4, 2019,Las Vegas... RapNet, the world's largest diamond trading network, announcesthe introduction of jewelry into its global trading network. RapNet members cannow upload jewelry images and data, perform detailed searches, and directlytrade jewelry with each other without any fees or commissions. There are noadditional fees to use this service. Theaddition of jewel...Read More
(IDEX Online) - Mountain Province Diamonds Inc. will include an exceptional quality, 60.59-carat, fancy vivid yellow rough diamond in it its upcoming rough diamond sale. The diamond was recovered at the company's Gahcho Ku?(C) Mine last October. Reid Mackie, Vice President Diamond Marketing, commented: "The discovery of this diamond demonstrates our ability to produce very larg...Read More
RAPAPORT... Sales grew at Firestone Diamonds in the second fiscal quarter as stronger volumes outweighed a lower average price, the miner reported Monday. Proceeds from rough sales at the company's Liqhobong mine inLesotho increased 11% year on year to $13.9 million for the period endingDecember 31, according to Rapaport calculations. Sales volume rose 22% to191,735 carats, with the miner ach...Read More
RAPAPORT... A New York district court has granted jewelerDavid Yurman protection against websites selling counterfeitmerchandise under its brand. Judge Paul Oetken issued a permanent injunction against 31unnamed websites, preventing them from distributing, advertising or selling anyfake David Yurman products, the jeweler said last week. He also awarded thejeweler nearly $1.6 million in statut...Read More
Aim-listed Firestone Diamonds on Monday reported that it had treated 1.9-million tonnes of ore in the six months to December 31, in line with the company’s full-year guidance of between 3.6-million tonnes and 3.9-million tonnes treated.In a quarterly operations update for its Liqhobong diamond mine, in Lesotho, Firestone noted that 884 252 t of ore were treated in the quarter, lower tha...Read More
RAPAPORT... Sales grew at Firestone Diamonds in the second fiscal quarter as stronger volumes outweighed a lower average price, the miner reported Monday. Proceeds from rough sales at the company's Liqhobong mine inLesotho increased 11% year on year to $13.9 million for the period endingDecember 31, according to Rapaport calculations. Sales volume rose 22% to191,735 carats, with the miner ach...Read More
RAPAPORT... A man allegedly stole a briefcase of diamonds worth tens ofthousands of dollars from the Israel Diamond Exchange (IDE) last week.The theft took place on Monday at InternationalDiamond Week in Israel (IDWI), which ran for three days on the trading floor ofthe Ramat Gan bourse. A man in a sharp suit calmly snatched the case from under anexhibitor's table, before walking away, according t...Read More
RAPAPORT... Revenue and profit at Titan Company rose in the third fiscalquarter, driven by the introduction of new jewelry lines in time for the festivalseason. Consolidated sales - including subsidiaries - jumped 35% yearon year to INR 59.34 billion ($830.4 million) in the three months endingDecember 31, while profit climbed 46% to INR 4.11 billion ($57.5 million), theIndian company said las...Read More
RAPAPORT... Lucapa Diamond Company sold $16.7 million worth of roughstones from its Lulo mine at the first diamond tender under Angola's newsales rules."The exceptional sale prices achieved for the Lulo diamondsreflected the highly competitive bidding from leading internationaldiamantaires and large-stone manufacturers from eight countries thatparticipated in the tender," the company said Fri...Read More
RAPAPORT... The Gemological Institute of America (GIA) will expand its ColoredStone Identification & Origin Report services to include alexandrite. The report contains the stone's basic details, includingcut, shape, weight, measurement and color. In addition, it specifies whetherthe stone is natural or lab-grown, lists any detectable treatments, and offersa research-based opinion on the g...Read More
(IDEX Online) - The IDEX polished diamond price index was almost flat on the month in January. &nbs...Read More
(IDEX Online) - Platinum jewelry is continuing to retain a strong footing in the field of love and romance-based purchases in Asia in a jewelry market that experiences consumer attitude changes and cultural shifts across regions, said Platinum Guild International (PGI). "Valentine's Day has been an important love-gifting holiday. We expect this year to not be any different," says PGI CEO Hu...Read More
(IDEX Online) - The Israel Diamond Exchange (IDE) wrapped up its International Diamond Week 2019, declaring it to be the largest and most successful of the events to date. The trade show took place on the huge IDE trading floor, the largest diamond trading hall in the world. IDWI 2019 attracted over 350 foreign buyers from over 30 countries, one-third of which were new to IDE. Over 150 Isr...Read More
RAPAPORT... Revenue and profit at Titan Company rose in the third fiscalquarter, driven by the introduction of new jewelry lines in time for the festivalseason. Consolidated sales - including subsidiaries - jumped 35% yearon year to INR 59.34 billion ($830.4 million) in the three months endingDecember 31, while profit climbed 46% to INR 4.11 billion ($57.5 million), theIndian company said las...Read More
(IDEX Online News) - Price changes in round and fancy shape diamonds in December were relatively rare. In round goods, stones of 0.80-0.89 carats in E-G, I3, fell 4%; in 2.00-2.99 carat diamonds D, I1-I3, of 2-4%; and in a range of colors and clarities in 3.00-3.99 carats and 4.00-4.99 carat stones. There were rises in a range of colors and clarities in 0.30-0.39 carat stones; in 0.45-0.49 carats,...Read More