(IDEX Online) - Diamond Foundry, the manufacturer of lab-grown diamonds, said it raised its prices by an average of 15% across all channels as of January 1. "After careful monitoring of the market situation over the past months, we see demand increasingly outpacing supply," the firm said in a statement. "This is due to the increase in size and frequency that buyers in the diamond industry a...Read More
(IDEX Online) - Tiffany & Co. plans to share information on a diamond's complete journey through the supply chain - from mine to where it was cut and polished - by 2020 in what the retailer says would be an industry first. The move is part of the firm's aim of telling customers where its diamonds come from in a bid to boost consumer confidence by increasing its business transparenc...Read More
Last year yielded positive results for Aim-listed diamond miner BlueRock Diamonds, which achieved significant increases in production and recovered grade, and saw its diamond sales increase by 71% to 5 805 ct, compared with the 3 385 ct sold in 2017.Production volume for the miner, which owns and operates the Kareevlei diamond mine, near Kimberley, increased by 24% to 189 999 t, compared...Read More
Tiffany & Co. is telling consumers where its diamonds come from as the jeweler tries to become more transparent in a notoriously opaque industry. Its top executive says the change was imperative."This is a topic that has become more and more relevant for new generations," Chief Executive Officer Alessandro Bogliolo said in an interview with Bloomberg TV. "This is our duty, as a leader in diamonds,...Read More
RAPAPORT... Tiffany & Co. has begun disclosing the geographical originof its diamonds to consumers, pledging to go beyond the standardresponsible-sourcing methods prevalent in the industry. The company will provide information on stones' regions orcountries of origin in its engagement-ring display cases, starting Wednesday.For other diamonds, customers will be able to obtain provenance details...Read More
RAPAPORT... India's ICICI Bank will shut its branch in Antwerp onMarch 29, becoming the latest lender to quit the Belgian diamond market. The move followed a strategic review of ICICI's businessoperations in the country, a spokesperson for the company confirmed Wednesday.The bank has asked customers to close their accounts by February 28, accordingto a December 28 note to its clients, seen by Rapa...Read More
RAPAPORT... Whoever considered the holiday season over might need tothink again: Many jewelers are seeing just as much business during January asthey witnessed during the Christmas period, if discussions on a popularsocial-media forum are anything to go by. Customers are still visiting stores, and not only toredeem gift certificates and get their purchases repaired and resized,according to se...Read More
RAPAPORT... Diamond Foundry is increasing its production more than tenfoldand raising wholesale prices 15%, as it predicts an uptick in demand forlab-grown diamonds. The company believes there is a shortage ofsynthetic-diamond supply while consumer interest in the product is rising. Itplans to raise production to at least 1 million carats of rough per year,boosted by a new factory in Washington st...Read More
RAPAPORT... The Gemological Institute of America (GIA) has awarded its highest honor to veteran researcher Dr. James Shigley, a pioneer of synthetic-diamond detection. Shigley received the Richard T. Liddicoat Award for Distinguished Achievement, which is named after the GIA's second president. The accolade recognizes those who show "extraordinary commitment" to further the organization's mi...Read More
(IDEX Online) - The Israel Diamond Exchange (IDE) will hold its first tender of Israeli goods during the International Diamond Week in Israel (IDWI). The tender will take place from January 27-31, and will be held at IDE's International Tender Center. It will consist of a wide and varied array of polished goods offered by IDE members, with a total value of over $10 million. KOIN Internatio...Read More
(IDEX Online) - The Israel Precious Stones and Diamonds Exchange (ISPDE) reported a strong turnout at a specially organized event on Tuesday where members exhibited goods. ISPDE President Shlomo Eshed said he was delighted with the event which the exchange now plans to hold twice a year. "It was an exceptional event," said Eshed. "The members were delighted with the turnout. ...Read More
(IDEX Online) - Lucara Diamond Corp. reported that it carried out its first diamond sale through Clara Diamond Solutions, its 100% owned digital sales platform. Seven manufacturers participated in the sale, five of whom matched and received their orders. All told, diamonds successfully matched to orders generated revenue of $660,865, achieving +8% over Lucara's market price and +15% o...Read More
Tiffany & Co. is telling consumers where its diamonds come from as the jeweler tries to become more transparent in a notoriously opaque industry. Its top executive says the change was imperative.“This is a topic that has become more and more relevant for new generations,” Chief Executive Officer Alessandro Bogliolo said in an interview with Bloomberg TV. “This is our duty, as...Read More
RAPAPORT... Diamond Foundry is increasing its production more than tenfoldand raising wholesale prices 15%, as it predicts an uptick in demand forlab-grown diamonds. The company believes there is a shortage ofsynthetic-diamond supply while consumer interest in the product is rising. Itplans to raise production to at least 1 million carats of rough per year,boosted by a new factory in Washington st...Read More
Canada's Lucara Diamond (TSX:LUC), the company that hit the jackpot in 2016 after finding the world's second-largest diamond, said Tuesday its priority this year will be the completion of a feasibility study into potential underground production and life-of-mine expansion for its Karowe project, in Botswana."Having stabilized and significantly improved our mining operations at Karowe in 2018, Luc...Read More
RAPAPORT... De Beers has approved plans to allow sightholders to referto its goods as "DTC diamonds," a company spokesperson confirmed with RapaportNews on Tuesday. The miner consulted with clients during the December sightin Botswana, proposing to relax its ban on buyers identifying diamonds as DeBeers goods further down the supply chain. Until now, sightholders could onlydisclose their supp...Read More
RAPAPORT... Lucara Diamond Corp. recorded an 8% premium in theinaugural sale of rough on its new digital platform, which it completed lastmonth, the miner reported Tuesday. Five out of seven participating manufacturers andjewelers came away with goods, with total proceeds reaching $660,865, Lucarasaid. The platform, Clara Diamond Solutions, uses technology to match buyerswith available rough based...Read More
RAPAPORT... Private-equity firm Huron Capital has made a "significant"investment in WD Lab Grown Diamonds, forecasting sharp growth for the companyand the synthetics sector. The injection of funds will help WD expand its capacity toproduce lab-grown diamonds for jewelry and industrial purposes, themanufacturer said Monday. Clive Hill, the company's founder, will remain itsCEO, while Yarden Tsach w...Read More
(IDEX Online) - Israel's net polished exports stabilized in 2018, totaling $4.48 billion, according to figures published by the Diamond, Gemstones and Jewelry Administration of the Israeli Ministry of the Economy. Net polished diamond imports totaled $3.04 billion, while net rough diamond exports stood at $2.25 billion, and net rough imports totaled $2.66 billion. For the first time...Read More
TSX-, Nasdaq- and Botswana Stock Exchange-listed Lucara Diamond Corporation will, this year, prioritise the completion of a feasibility study into the potential for underground production and life-of-mine expansion from 2026 to 2036 at its Karowe prospect, in Botswana.Lucara has set aside a $14.8-million budget to complete geotechnical and hydrogeological drilling programmes in 2019, as well as ec...Read More