Diamond stocks Articles

Fifteen Deaths this Year in Zimbabwe Gold Mines

June 01, 21 / John Jeffay

(IDEX Online) - Fifteen workers have died so far this year and more have been injured in accidents mining for gold and other precious metals in Zimbabwe, says a union boss.Justice Chinhema, general secretary of Zimbabwe Diamond and Allied Minerals Workers Union (ZDAMWU) says many mines are increasingly unsafe. Ten fatalities were at small scale mines, he said. Five were at larger operations."...Read More

Surat Customs Seize 53,000 carats over Wrongful Disclosure

June 01, 21 / John Jeffay

(IDEX Online) - Customs officials in Surat, India, seized two consignments of loose "lab grown" diamonds that were over the declared weight - and were actually higher-value natural gems.They were being sent from the tax-free Surat Special Economic Zone and were destined for Hong Kong, via Mumbai airport.The owner of Universal Diamonds, Meet Kachhadiya, wrongly declared the diamonds, said the Direc...Read More

IDEX Price Report for 1 June: Slight Rise in Rounds

June 01, 21 / IDEX Online

(IDEX Online) - There was a slight overall increase in round prices among rounds. Fancies were more of a mix, and a number of sizes in both rounds and fancies saw little or no movement at all. There were a couple of localized bursts of activity, with a raft of price rises among 0.3-0.39-cts and 2.00-2.99-cts. Aside from that there was little or no movement in many sizes. There was virtually...Read More

Fancy-Color Group Expands Advisory Board

May 31, 2021 / Rapaport News

RAPAPORT... Industry veteran Thomas Gelb has joined the Fancy Color Research Foundation (FCRF) as a member of its board of advisers.Gelb previously worked at the Gemological Institute of America (GIA) before leaving in 2008 to run Harry Winston's grading department, FCRF said Monday. For the past 12 years, Gelb has been an independent consultant, working with various companies, gem labs and trade...Read More

Asian Star Full-Year Revenue Falls

May 31, 2021 / Rapaport News

RAPAPORT... Revenue at Mumbai-based diamond and jewelry manufacturer Asian Star fell in the past fiscal year as Covid-19 lockdowns and restrictions hindered sales.Group revenue - including at subsidiaries - slid 16% to INR 25.62 billion ($353.1 million) for the year ending March 31, the company said earlier this month. Diamond sales plunged 66% to INR 21.44 billion ($295.5 million), while revenue...Read More

Lesotho Sells Diamonds Seized from Illegal Miners

May 31, 21 / John Jeffay

(IDEX Online) - Diamonds seized from illegal miners in Lesotho are to be sold to licensed dealers by the country's mining ministry.Small-scale diamond mining was outlawed in 2004 because of safety concerns and a lack of regulation, although there are reports that the government is now about to permit the resumption of limited artisanal operations.Bids are being invited during a two-day tender...Read More

De Beers Shines in New Cruella Movie

May 31, 21 / John Jeffay

(IDEX Online) - De Beers has partnered with Disney for the first time, providing high jewelry for the new movie Cruella.British actress Emma Thompson (pictured) wears pieces from the Arpeggia collection as she plays the fashion designer Baroness Von Hellman in a new take on the classic 101 Dalmatians, set in 1970s London.They include a five-line necklace and three-line earrings in white gold and t...Read More

Something Old, Something New - Bridal Tiaras for Hire

May 31, 21 / John Jeffay

(IDEX Online) - A London jeweler has launched a tiara-for-hire service, as brides take their inspiration from TV period dramas.Hancocks, founded in 1849 and located in Mayfair, is making its collection of vintage and antique treasures available for the big day.It charges one per cent of their value for a 24-hour loan, which works out at a little over $1,300 for one of the highlights of its collect...Read More

Diamcor to Overhaul Facilities at Mine

May 30, 2021 / Rapaport News

RAPAPORT... Diamcor is set to expand the processing facilities at its mining project in South Africa, aiming to give output a boost.The company originally planned to overhaul the Krone-Endora at Venetia asset in 2020, but it delayed the work in order to reduce expenses during the coronavirus pandemic, it said last week. Diamcor expects the expansion to take place in two phases.During the firs...Read More

New Gemstone, Jewelry Show to Debut in US

May 30, 2021 / Rapaport News

RAPAPORT... A new trade fair focusing on gemstones, jewelry, minerals and fossils will make its inaugural appearance in Colorado later this year.The HardRock Summit, which will feature over 400 exhibitors, educational seminars and keynote speakers, will run in Denver from September 16 to 21 at the Colorado Convention Center, its founders said last week. The event was created by Christoph Keilmann,...Read More

Diamond Acquisition Pays Off for Israeli Lender

May 30, 2021 / Rapaport News

RAPAPORT... Israeli financial institution Peninsula saw profits surge after the company bought Union Bank's diamond business last year.Group-wide income from interest more than doubled year on year to ILS 45.8 million ($14.1 million)for the first quarter ending March 31, Peninsula said last week in a results statement. Net profit rose to ILS 22.2 million ($6.8 million) from ILS 8.1 million ($...Read More

Lost Engagement Ring Found at Bottom of England's Biggest Lake

May 30, 21 / John Jeffay

(IDEX Online) - A bride-to-be was reunited with her engagement ring, after a diver armed with just a snorkel and an underwater metal detector found it at the bottom of a lake.The white gold and diamond ring slipped from her finger as she sat on a jetty on the shores of Windermere, the largest natural lake in England.Volunteer Angus Hosking, a freediver who regularly clears litter from the lake, of...Read More

Not Tested on Animals: The World's First Vegan Diamonds

May 30, 21 / John Jeffay

(IDEX Online) - Lab grown company Aether says it has become the world's first diamond producer to receive vegan certification.Vegan Action now guarantees that diamonds made by the New York-based company "do not contain animal products or by-products and have not been tested on animals".Aether does not indicate in its press release what steps it took to ensure no animals were harmed in the man...Read More

New Gem and Jewelry Show to Debut in US

May 30, 2021 / Rapaport News

RAPAPORT... A new trade fair focusing on gemstones, jewelry, minerals and fossils will make its inaugural appearance in Colorado later this year.The HardRock Summit, which will feature over 400 exhibitors, educational seminars and keynote speakers, will run in Denver from September 16 to 21 at the Colorado Convention Center, its founders said last week. The event was created by Christoph Keilmann,...Read More

Rapaport Weekly Market Comment

May 27, 2021 / Rapaport News

Upbeat US and China retail sales driving positive sentiment. Trading limited due to supply scarcity and India Covid-19 travel restrictions. Polished shortages stimulating rough buying at firm prices. Strong cash buyers making for good market liquidity, but India experiencing some pandemic-related payment concerns. Richemont FY jewelry sales +3% to $9.1B. Christie's HK sells $76.8M (82% by lot), in...Read More

Fugitive Jeweler Mehul Choksi Arrested in Caribbean

May 27, 2021 / Rapaport News

RAPAPORT... Jeweler Mehul Choksi will likely be repatriated to India following his capture in Dominica, an island nation in the Caribbean, Reuters reported.Choksi's arrest comes two years after his nephew, Nirav Modi, was apprehended by the Metropolitan Police in the UK on behalf of the Indian authorities.The two fugitives, along with others, are alleged to have defrauded India's Punjab Natio...Read More

Fancy-Blue Diamonds to Lead Phillips Auction

May 27, 2021 / Rapaport News

RAPAPORT... A matched pair of fancy-blue diamond earrings with an upper estimate of $770,000 will lead the Hong Kong Jewels & Jadeite auction at Phillips next week.The diamonds, weighing 1.12 and 1.13 carats, have been meticulously cut to maximize their color, the company said recently, calling these stones "one of the most desirable and sought-after of all jewels." The blue diamonds have...Read More

73-carat Yellow Diamond Leads Roaring Twenties Sale

May 27, 21 / John Jeffay

(IDEX Online) - A 73.11-carat fancy vivid yellow diamond will lead The Roaring Twenties 2.0 auction at Sotheby's New York next month.The Sienna Star, a VS2-clarity, natural color, cut-cornered square step-cut stone, is set in 18 karat white gold ring with about 4.45 carats of near-colorless F-G color, VS clarity diamonds.It is a described as one of the most important creations by London-...Read More

Fugitive Choksi Arrested "on way to Cuba"

May 27, 21 / John Jeffay

(IDEX Online) - Fugitive diamond trader Mehul Choksi was arrested yesterday in Dominica, three days after he disappeared from Antigua, about 120 miles away by sea.There is media speculation that after arriving on the tiny island by boat he was intending to travel by sea to Cuba, 1,150 miles away.He is wanted in his home country of India, where he and nephew Nirav Modi are accused of defrauding the...Read More

73ct. Yellow to Shine at Sotheby's New York Sale

May 27, 2021 / Rapaport News

RAPAPORT... Sotheby's will offer a fancy-vivid-yellow diamond ring at its New York sale next month, estimating the piece could fetch up to $3 million.The cut-cornered square step-cut, 73.11-carat, VS2-clarity jewel by Mayfair designer Glenn Spiro, called The Sienna Star, is one of the largest fancy-vivid-yellow diamonds to come to auction, Sotheby's said Wednesday. The piece is one of the top...Read More