RAPAPORT... The International Diamond Manufacturers Association(IDMA) is considering an alliance with the World Federation of DiamondBourses (WFDB) in response to the crisis in the global cutting sector. "With the changes in the diamond-manufacturing sector's landscape,as well as due to the many other challenges the diamond industry is facing, thetime may have come for the diamond trade to unite u...Read More
(IDEX Online) - Israeli law enforcement officials say they want to question Lev Leviev, the business tycoon whose companies are reportedly at the center of a diamond smuggling ring that operated over years. Among six people police detained for questioning under caution on Monday are two of his relatives, and four other people who are or had been involved in his companies in Israel and Russ...Read More
(IDEX Online) - During the third quarter of 2018 prices of fancy color blue and pink diamonds rose by 0.7% and 0.4% respectively in all sizes and saturation levels, according to the Fancy Color Diamond Index published by the Fancy Color Research Foundation (FCRF). At the same time, overall fancy color diamond prices showed no significant change and increased by only 0.1%, the FCRF said. Ye...Read More
(IDEX Online) - International Diamond Manufacturers Association (IDMA) President Ronnie VanderLinden said that during the 38th World Diamond Congress that was held in Mumbai last week the changing landscape of diamond manufacturing was at the heart of the members' discussions. "We need to recognize that we have lost a significant number of factories, especially in the smaller diamond...Read More
RAPAPORT... Lucapa Diamond Company hasextracted 1,502 carats of rough during testing at a new alluvial diamond sourceadjacent to its Lulo mine in Angola. The yield included 17 stonesweighing more than 10.8 carats each, as well as a 55.30-carat, D-color, typeIIa stone. The average diamond size was 1.40 carats, Lucapa said. The new source is located in thepreviously untested flood plains at Lul...Read More
The De Beers Group Designers Initiative is inviting jewellery designers to participate in the 2018/19 Shining Light Awards, which will, for the first time, be open to Canadian participants.The latest edition of this biannual jewellery design competition, which has existed for over 22 years in South Africa and for more than ten years in Botswana and Namibia, will be held under the theme of heroines...Read More
RAPAPORT... A rare Kashmir sapphire necklace could set a new auctionworld record when it goes under the hammer at Christie's Hong Kong sale onNovember 27.The Peacock Necklace - which will lead the Magnificent Jewels auction- contains 21 cushion-cut Kashmir sapphires weighing a total of 109.08 carats.The piece, with its 10.56-carat center sapphire, is estimated at $12 million to$15 million, ma...Read More
It's 1:15 p.m. on a sunny Friday afternoon in Vancouver and I arrive a little early for a downtown meeting with Westhaven Ventures (WHN-V) chairman Gren Thomas. A short elevator ride at Granville and West Hastings takes me to Westhaven's modest offices on the 10th floor, where I let myself in and drop by CFO Shaun Pollard's office.Inside, Pollard and veteran geologist Ed Balon - Westhaven's techni...Read More
RAPAPORT... US consumers will spend $124.1 billion online this holidayseason, with Cyber Monday set to be the biggest day of the year for e-commerce,according to Adobe Analytics Data. E-commerce sales between November 1 and December 31 willrise 15% over the same period a year ago, while shopping in brick-and-mortarstores will increase 2.7%, Adobe predicted. Cyber Monday (November 26) will be...Read More
RAPAPORT... The Diamond Empowerment Fund (DEF) has launched a proposalcontest aimed at the millennials, promising a free trip toBotswana for the winning couple. The competition - named "Real Stories. Real Diamonds. RealImpact". - aims to educate the public about positive aspects of diamonds, theDEF said last week. Entrants must submit a 60-second video about their proposal storyand what their dia...Read More
RAPAPORT... Firestone Diamonds has recovered a 326-carat, near-gem-qualityrough - the largest diamond the miner has found to date. The company unearthed the stone at its Liqhobong mine inLesotho in October, it reported last week. "[The 326-caratdiamond] provides further evidence of Liqhobong's large-stone potential, and,importantly, the ability of the treatment plant to recover larger stonesintac...Read More
RAPAPORT... US polished-diamond imports rose 16%in August, continuing an upward trend for the year. The August growth reflectedhigher volumes (up 22% to 894,066 carats), with the average price slipping 5%to $2,016 per carat. A higher average price for the first eight months drove a 6% increase in imports for that period.US Diamond Trade Data for August 2018 Millions unless stated otherwiseRead More
RAPAPORT... Birks Group is launching its first Canadian store dedicated toGraff Diamonds jewelry. Birks will open the boutique this month on WestGeorgia Street in downtown Vancouver, solely offering Graff's high-end jewelryand watches, the Canadian retailer said last week. Birks describes itself as Graff's exclusive retailer in Canada,and currently houses the London-based brand's jewelry at...Read More
X-ray transmission (XRT) technology has ushered in a new era for diamond recovery, with an increasing number of mining companies embracing the technology and scaling back on the use of conventional technologies, such as dense-media separation, for the treatment of middle- and coarse-sized material, according to engineering and project management consultancy Imilingo Mineral Processing.“The e...Read More
Specialist mining investors have found a "buyer's market" for projects as the mining sector struggles to compete for funding with new industries, multiple industry executives said at a conference this week.Smaller mines and developers who previously found capital through retail investors in public markets are increasingly turning to specialist investors such as private equity or companies that see...Read More
Rising expectations for holiday season as ConferenceBoard's US consumer confidence index hits 18-year high in October. Steady USdemand for 1 ct., G-J, VS-SI, RapSpec A3+ diamonds, but polished pricessoftening amid India liquidity concerns. 1 ct. RAPI -0.9% in October. Roughmarket quiet, with factories closing for next week's Diwali festival. Jewelersreducing in-store inventory, using technology to...Read More
Cautious sentiment amid several bankruptcy rumors. Polished trading steadyas dealers fill orders before the November 7 Diwali break. Consistent demandfor SI-I1 clarities in all categories. Chinese buyers drive improvement inmelee. Sales-and-distribution offices closing for one week over Diwali, andsmaller Surat factories shutting for three-to-four weeks. RoundRead More
RAPAPORT... Pink and blue fancy-color diamonds saw price increases inthe third quarter, while yellows dipped, according to the Fancy Color ResearchFoundation (FCRF).The organization's Fancy Color Diamond Index for pinks grew0.4% versus the previous quarter, while prices of blues rose 0.7%, the FCRFsaid Thursday. Rates for yellow fancy-color diamonds dropped 1%, with theoverall index down 0.1%."The...Read More
RAPAPORT... Gem Diamonds has increased its production and sales outlook forthe year after robust output during the third quarter, it said Wednesday. The miner now expects to recover 120,000 to 124,000 caratsfrom its Let??eng mine in Lesotho for the whole of 2018, compared with a forecast of 114,000to 118,000 carats it provided in March. It also anticipates selling 118,000 to122,000 carats, up...Read More
RAPAPORT... Lab-grown diamonds will feature at some of the largest US retailers this holiday season, with J.C. Penney, Macy's and Jewelry Television (JTV) anticipating strong growth in the category. Berkshire Hathaway subsidiary Richline Group will supply a new brand featuring lab-grown diamonds to J.C. Penney, the companies said in a joint statement Tuesday. The bridal collection,...Read More