The World Diamond Council (WDC) and the Civil Society Coalition (CSC) have called for an expanded definition of conflict diamonds at the launch of the 2018 Plenary Session of the Kimberley Process (KP) in Brussels, Belgium. The proposal, put forward by the government of Canada, looks to strengthen the scope by expanding the KP's official definition of what constitutes conflict diamonds.The propose...Read More
Golden Ridge Resources (TSX-V: GLDN) has completed its option agreement with Lac Properties Inc. (LAC), a subsidiary of Barrick Gold Corporation, and now has a 100% interest in the Hank project in British Columbia's Golden Triangle District.LAC will continue to hold a 2% NSR on the project as well as certain back-in rights. LAC has the option to purchase a 51% interest in the Hank Project upon a m...Read More
Shares in Canada's Stornoway Diamond Corp. (TSX:SWY) plummeted Wednesday after the miner reported a net loss of $37.6 million for the three months ended Sept. 30 and announced that chief executive officer Matt Manson will leave at the end of the year.Mason will be replaced by chief operating officer Patrick Godin, who joined Stornoway in 2010 and was appointed to the board of directors in 2011....Read More
RAPAPORT... Bonhams will spotlight a 24.31-carat diamond at its upcomingFine Jewels sale in London, estimating it will fetch $1.7 million to $2.3million. The step-cut, D-color, internally flawless diamond belongsto aprivate collector, and will come to auction for the first time on December 5. The sale will feature several Kashmir sapphires, including acushion-shaped, 8.08-carat sapphire ring...Read More
RAPAPORT... Sotheby's New York will auction a 20.60-carat diamond ring thatFrank Sinatra gifted to his wife on their engagement in 1976. The emerald-cut diamond ring is one of several pieces ofBarbara Sinatra's jewelry that will feature at the Magnificent Jewels auctionon December 4. Frank popped the question by throwing two diamonds on their bedand telling her to pick one. Once she had made...Read More
RAPAPORT... The World Diamond Council (WDC) has released its proposed newKimberley Process (KP) definition of conflict diamonds, which addresses abroader range of human-rights abuses. The definition describes them as "rough diamonds used bypublic security forces or private (including criminal or mercenary) armedgroups to acquire wealth through illegal control, bribery, taxation, extortionor d...Read More
RAPAPORT... Harry Winston bought a pink diamond for more than $50million at Christie's Magnificent Jewels sale in Geneva, setting a worldauction record. The rectangular-cut, 18.96-carat, fancy-vivid-pink stonewent for $50.4 million at the auction Tuesday, becoming the most expensive pinkdiamond Christie's has sold, the auction house said. At $2.7 million per carat,it also achieved...Read More
RAPAPORT... Mountain Province decided not to pay a quarterly dividend toshareholders due to challenging conditions in the diamond market, the minerreported. Demand for rough from its Gahcho Ku?(C) mine in Canada was sluggishin the third quarter amid weakness in India, the company said Monday. Prices oflower-value diamonds dropped even as sales increased 15% year on year to CAD74.9 million ($5...Read More
(IDEX Online) - Christie's sold the 18.96-carat Winston Pink Legacy, the largest and finest fancy vivid pink diamond it has ever auctioned, for $50,375,000, a world auction record price per carat for a pink diamond of $2,656,909. The November Luxury sales in Geneva raised $126,312,257, with registered bidders from 51 countries from six continents participating in the Magnificent Jewels sale...Read More
The Prospectors and Developers Association of Canada (PDAC) has announced the winners of its yearly awards, which recognise the work of international and domestic leaders in the mineral exploration and mining community.The Bill Dennis award went to Peregrine Diamonds, which discovered the Chidliak diamond district, near Iqaluit on Baffin Island. Exploration programmes and engineering studies compl...Read More
(IDEX Online) - Ben Bridge Jeweler, the family-run fine jeweler with 95 retail stores in 11 states and one Canadian province, announced that Chairman and CEO Ed Bridge is retiring as of January 31, with company President and COO Lisa Bridge becoming President and CEO. Having served as the first female President of Ben Bridge Jeweler, Lisa Bridge will now continue her service as the fifth g...Read More
(IDEX Online) - ALROSA sold 119 large special size rough diamonds (over 10.8 carats) with a total weight of 1,890 carats for $10.3 million at the final auction of the year in Vladivostok. The company said that 26 companies from global diamond trading centers secured goods at the sale. "Since the beginning of 2018, we held four auctions there, including the last one, gaining almost $...Read More
GENEVA – The "Pink Legacy", a diamond weighing just under 19 carats, fetched a record 50.375-million Swiss francs ($50-million), purchased by US-based luxury jeweller Harry Winston, Christie's said on Tuesday.Harry Winston, owned by Swatch whose CEO is Nayla Hayek, daughter of the late Swatch founder Nicolas Hayek, promptly renamed it "The Winston Pink Legacy", adding...Read More
RAPAPORT... Bonhams will spotlight a 24.31-carat diamond at its upcomingFine Jewels sale in London, estimating it will fetch $1.7 million to $2.3million. The step-cut, D-color, internally flawless diamond belongsto aprivate collector, and will come to auction for the first time on December 5. The sale will feature several Kashmir sapphires, including acushion-shaped, 8.08-carat sapphire ring...Read More
Canadian miner Stornoway Diamonds has appointed a new CEO to succeed Matt Manson on January 1, it said on Wednesday, after reporting an adjusted third-quarter net loss of C$31.7-million, sending its shares down 12% on the TSX.Patrick Godin, currently the COO, will succeed Manson, who has been hailed as the driving force behind the acquisition, financing and development of the Renard diamond mine,...Read More
RAPAPORT... The World Diamond Council (WDC) has released its proposed newKimberley Process (KP) definition of conflict diamonds, which addresses abroader range of human-rights abuses. The definition describes them as "rough diamonds used bypublic security forces or private (including criminal or mercenary) armedgroups to acquire wealth through illegal control, bribery, taxation, extortionor d...Read More
ALROSA, the largest diamond mining company in the world, has summed up the results of the auction in Vladivostok for the sale of large rough diamonds, equaling over 10.8 carats.The company has sold 119 gem-quality rough diamonds with a total weight of 1,890 carats. The overall revenue from sales reached $10.3 million. ALROSA had held four auctions in Vladivostok this year, including the last one,...Read More
The diamond industry must deliver on its promise that consumers can trust the diamonds they purchase are sourced, traded, and processed responsibly, said a coalition of concerned civil society organizations today."Time is up for the diamond industry. Image is everything to the value of diamonds, yet the industry continues to be tainted by association with human rights abuses like child labour and...Read More
After shocking the market with a decision to start selling jewellery containing synthetic diamonds earlier this year, Anglo American's De Beers is said to have reduced prices for low-quality stones as much as 10%.The move by the world's largest diamond miner, reported by Bloomberg, is yet another sign of increasing volatility at the bottom end of the market.Cheaper diamonds, which are often small...Read More
RAPAPORT... Civil-society groups have lashed out at the diamond trade over its apparent leniency in preventing human-rights abuses from tainting the supply chain. The recent update to the World Diamond Council's (WDC) System of Warranties falls short of international standards for responsible company behavior, including by stating that respect for human rights by companies is voluntary, five...Read More