RAPAPORT... De Beers' decision to sell synthetic diamond jewelry raises important issues that are fundamental to the future of the natural diamond industry. Let us begin by analyzing the role of De Beers in the diamond industry. Until about 2000 and the advent of their "Supplier of Choice" program, De Beers was the custodian of diamonds. They maintained rough diamond prices by buying excess suppli...Read More
RAPAPORT... A company in Sierra Leone has obtained and exported a 144.12-caratrough diamond worth at least $600,000, authorities in the west African nationsaid Tuesday. A licensed diamond exporter brought the stone to theprecious-minerals trading department of the National Minerals Agency (NMA) lastweek for valuation, the NMA and the Ministry of Mines and Mineral Resources(MMMR) reported. The NMA...Read More
RAPAPORT... The Gemological Institute of America (GIA) has graded a5.01-carat lab-grown diamond that, its producer claims, is the largest pinksynthetic diamond in the world. New York-based Unique Lab Grown Diamond created the stone usingchemical vapor deposition (CVD). The square-radiant-shaped, fancy intensepinkish-orange synthetic stone has the equivalent of SI clarity, the GIA saidin a lab note...Read More
(IDEX Online) - Signet Jewelers Limited has announced two executive appointments rounding out a leadership team "aligned to drive the company's transformation under its "Path to Brilliance" plan. Mary Elizabeth Finn has been named Chief People Officer, while Stephen E. Lovejoy has been named Chief Supply Chain Officer, effective immediately. Finn and Lovejoy will report directly to the Chief Exec...Read More
RAPAPORT... Stornoway Diamond Corporation will recommence operations at itsRenard mine in Canada after a brief suspension caused by a nearby forest fire,it said Tuesday. The miner will start sending staff members to the site onWednesday, and expects full operations to resume immediately. Stornoway announced the temporary suspension on Monday dueto restricted access to the mine. While the blaze did...Read More
Quebec diamond miner Stornoway Diamond Corp will remobilise its staff to the Renard mine and resume full operations on Wednesday, after rainfall and a shifting of prevailing winds have allowed wildfires to be contained.The company ceased operations on Monday as a safety precaution, after fires affected access to the mine site. On Monday morning, fire was located 12.6 km south of the mine, but just...Read More
RAPAPORT... De Beers' decision to sell synthetic diamond jewelry raises important issues that are fundamental to the future of the natural diamond industry. Let us begin by analyzing the role of De Beers in the diamond industry. Until about 2000 and the advent of their "Supplier of Choice" program, De Beers was the custodian of diamonds. They maintained rough diamond prices by buying excess suppli...Read More
(IDEX Online) - Stornoway Diamond Corporation reported that it commenced remobilization of staff to the Renard mine as of July 4 following a suspension of operations due to a forest fire near the mine. "Over the last 48 hours, rainfall and a shifting of the prevailing winds have allowed the principal fires south of the Clarence and Abel Swallow Airport to be contained, allowing for the safe trans...Read More
RAPAPORT... A company in Sierra Leone has obtained and exported a 144.12-caratrough diamond worth at least $600,000, authorities in the west African nationsaid Tuesday. A licensed diamond exporter brought the stone to theprecious-minerals trading department of the National Minerals Agency (NMA) lastweek for valuation, the NMA and the Ministry of Mines and Mineral Resources(MMMR) reported. The NMA...Read More
(IDEX Online) - Firestone Diamonds plc, whose operations are focused in Lesotho, has appointed Patrick Meier to its board as a non-executive director, effective immediately. Meier has 25 years of experience in mining, and is currently Chairman of Anglo Pacific Group plc. Between 1982 and 2014, Patrick spent his career with Royal Bank of Canada (Europe) Limited, latterly as Head of European I...Read More
RAPAPORT... The Gemological Institute of America (GIA) has graded a5.01-carat lab-grown diamond that, its producer claims, is the largest pinksynthetic diamond in the world. New York-based Unique Lab Grown Diamond created the stone usingchemical vapor deposition (CVD). The square-radiant-shaped, fancy intensepinkish-orange synthetic stone has the equivalent of SI clarity, the GIA saidin a lab note...Read More
LISBON – Angola plans to start recovering large funds held by citizens in overseas accounts toward the end of the year under a law meant to repatriate cash that was illegally moved abroad, President Joao Lourenco said.Lourenco said in December that the government wouldn’t ask any questions if wealthy Angolans return their funds and invest in the country, but he didn’t set a deadl...Read More
RAPAPORT... Sales of jewelry and other luxury items rose in greater Chinain May, driven by improved consumer sentiment and a higher rate of tourism toHong Kong, according to government sources. In China, retail sales of gold, silver and jewelry increased6% year on year to $3.05 billion (CNY 20.3 billion) for May, the NationalBureau of Statistics of China reported recently. Sales for the January-to...Read More
RAPAPORT... Israel Diamond Exchange (IDE) president Yoram Dvash hascalled for India to lower its 5% import duty on polished diamonds, claiming itrestricts trade between the two countries. "The tax makes it very difficult for Indian diamantaires whobuy polished goods in Israel, and for Israeli diamantaires who wish to tradewith their Indian counterparts," Dvash said Monday. He made the plea to Vija...Read More
RAPAPORT... Rio Tinto has launched an advertising campaign in India thatwill highlight a new range of fashion and bridal jewelry featuring Australiandiamonds sourced from its Argyle mine. The collections featured in the "As Real as You" campaign willbe available at 63 retailers across the nation, and will include designs usinguncut diamonds, known in India as chakri. The miner will track the ston...Read More
RAPAPORT PRESS RELEASE, July 3, 2018, New York ... Diamond market sentiment was positive in June after the Las Vegas shows demonstrated robust US jewelry demand. Suppliers held polished prices firm amid shortages in some categories and as high rough prices squeezed manufacturing profit margins. The RapNet Diamond Index (RAPI?,,?) for 1-carat diamonds increased 0.8% in June. Prices strengthened in...Read More
RAPAPORT... A mob of 300 to 500 people overran Gemfields Group'semerald-exploration operations in Ethiopia on Friday, forcing staff members toflee. Employees, contractors and service providers at Web GemstoneMining (WGM) were safely evacuated to a town a two-hour drive away, the companyreported Monday. Two WGM team members suffered minor injuries, with the gemstoneproducer expecting both of them t...Read More
RAPAPORT... Stornoway Diamond Corporation has suspended operations atthe Renard mine in Canada due to a local forest fire.The blaze had reached within 100 meters of the mine's accessroad as of 6:30 a.m. Eastern Standard Time (EST) Monday, Stornoway said. It was also3.6 kilometers south of the Clarence and Abel Swallow Airport, whichserves the project site, though it was still 12.6 kilometers south...Read More
(IDEX Online) - The Israel Diamond Exchange (IDE) has hosted an official visit of a high-level delegation from the State of Gujarat, India, where IDE President Yoram Dvash and Chief Minister Vijay Rupani spoke of the close connection between the diamond communities of both countries. Dvash and Rupani spoke about the growth and prosperity that the diamond trade brings to both sides, and discussed w...Read More
(IDEX Online) - Preparations are moving into high gear for the VICENZAORO September show in Vicenza from September 22 to 26, according to the organizers. The fall edition of the trade show takes place at an important time of the year when businesses place orders and restock ahead of the end-of-year selling season. The September show will feature for the first time "The Design Room," tailore...Read More