RAPAPORT... The London Diamond Bourse (LDB) has appointed Alan Cohenpresident, succeeding Menachem Prager, it said Wednesday. "I believe [Alan] will be an effective advocate for the UK'sdiamond industry both at home and abroad," said chief operating officerVictoria McKay. "His natural gravitas along with his industry experience makehim a valuable asset." Cohen has been a member of the exchange sin...Read More
JOHANNESBURG (miningweekly.com) – Aim-listed Botswana Diamonds has signed a memorandum of understanding with Vast Resources for the exchange of information derived from past exploration on areas prospective for diamonds in Zimbabwe.The parties will also establish a jointly owned special purpose vehicle for developing and exploiting diamond resources in Zimbabwe.AdvertisementIn 2008, Vast acq...Read More
(IDEX Online) - The Italian Exhibition Group (IEG) has become an official participant in the United Nations Global Compact (UNGC), the world's largest corporate sustainability initiative, which was launched in 1999 by the then-UN Secretary General Kofi Anan. IEG thus becomes the main Italian trade show company adhering to the UN Global Compact, and just one of three trade show organizers worldwid...Read More
RAPAPORT... Lucara Diamond Corp. has appointed Naseem Lahri as the firstfemale managing director of its Boteti Mining subsidiary, which owns thehigh-value Karowe mine. "I am delighted to be welcoming Naseem into her new role asmanaging director of Boteti, the first woman and the first Motswana woman toserve in this capacity for a diamond company in Botswana," Lucara CEO EiraThomas said Tuesday. "N...Read More
RAPAPORT... Stable demand for Botswana's rough diamonds resulted in flatexports in the first quarter of 2018, according to recent data. Outbound shipments for the January-to-March period slid lessthan 1% to $911 million, from $912.6 million last year, the Bank of Botswanasaid. In January, rough exports totaled $339.7 million, whileshipments for February came to $229 million, and March results were...Read More
Botswana Diamonds (LON:BOD) is expanding its operations from its base country to neighbouring Zimbabwe by teaming up with Vast Resources (LON:VAST) to jointly explore for diamonds in that country.The memorandum of understanding signed Tuesday sees the two companies exchanging past exploration information on areas prospective for diamonds in Zimbabwe. It also says the parties will set up a jointly...Read More
RAPAPORT... Israel's polished-diamond exports declined 33% to $1.16billion in the first quarter of 2018, the nation's Ministry of Economy andIndustry reported this week. By volume, outbound polished-diamond shipments fell 1% to496,783 carats after returns of goods. The average price for polished exportsdecreased 32% to $2,328 per carat. Polished imports rose 7% to $747.2 million, while netpolishe...Read More
(IDEX Online) - The IDEX polished diamond price index was flat again in April, following a similar performance during March which came after and small increases in January and February. The Index began the month at 123.22 and ended at 123.32. Outlook Trading was generally quiet in April due to the Passover and Easter holidays. Profit margins were somewhat hit due to the rise in rough polis...Read More
VANCOUVER (miningweekly.com) – A lack of new mining projects in the development pipeline of Canada’s Northwest Territories (NT) is threatening to derail the region’s economic growth outlook, the latest ‘Territorial Outlook’ by The Conference Board of Canada (CBoC) has found.The independent Ottawa-headquartered think tank points out that the NT has a “more muted&...Read More
RAPAPORT... Joseph Samuel Jr., the former president of jewelry retailerJ. & S.S. DeYoung, died last week at 92. Samuel entered the Boston-based family business to work withhis uncle, Sydney DeYoung, after serving in the US Navy. He helped grow thecompany, which buys and sells fine estate jewels, rare gems and historicalpieces, into an internationally recognized firm, according to his daughter,...Read More
(IDEX Online News) - There were relatively few price changes in round diamonds in April, particularly in smaller diamonds under 0.50 carats. Diamonds of 1-2 carats saw some downward movement, while larger diamonds saw significant upward movement. This was particularly evident in 3.00-3.99 carat stones and, to a lesser extent, in the 4.00-4.99 and 5.00-5.99 carat categories. Fancy diamonds also saw...Read More
RAPAPORT... The liquidators of Kimberley Diamonds' Lerala mine in Botswana will offer theproject at an online auction later this month afterfailing to secure viable bids. Kimberley placed its Lerala subsidiary into judiciarymanagement - a restructuring option for insolvent companies - in June last yeardue to a lack of funding, media reports said at the time. Lerala produced about59,000 carats in t...Read More
RAPAPORT PRESS RELEASE, May 1, 2018, New York... The diamond market was seasonally quiet in April as dealers took vacation over the Passover and Easter holidays. Polished prices were steady, with manufacturers protecting their profit margins against recent rough-price hikes. The RapNet Diamond Index (RAPI?,,?) for 1-carat diamonds was flat in April. RAPI for 0.30-carat stones declined 0.6%, while...Read More
RAPAPORT... Japanese jewelry retailer K-Uno will be the first to adopt SarineTechnologies' 4Cs diamond-grading reports.K-Uno will implement the artificial-intelligence-based platform at all its stores across Japan. The record will add additional features, including 4Cs grades,to the current Sarine Profile report, which lists characteristics such as lightperformance and hearts and arrows. The repor...Read More
RAPAPORT... India's diamond industry is working toproduce guidelines for banks to reduce their risks when lending to the trade. The nation's Gem & Jewellery ExportPromotion Council (GJEPC) has been collaborating with the government and lenders tocreate a written policy, Colin Shah, vice chairman of the trade body, told RapaportNews. Representatives of the GJEPC willmeet with 30 banks on May 1...Read More
RAPAPORT... The inaugural tender of rough stones at the GuangzhouDiamond Exchange (GDE) brought in nearly $6 million in sales, the Chinesebourse said Friday. The GDE sold all the available parcels, which contained over230,000 carats of industrial and gem-quality diamonds from mines in Africa. Sales exceeded theexchange's expectations, with prices comparable to those at tenders takingplace in other...Read More
A diamond mine in Botswana, owned by now extinct Australian miner Kimberley Diamonds, is going up for sale at an online auction to be held Monday, as its liquidators failed to secure viable offers, reports MINING.com.The Lerala Mine was opened in 2008 and had to be shut twice due to weak sales, until it finally was placed under judicial management in May last year, leaving 130 people out...Read More
RAPAPORT... The liquidators of Kimberley Diamonds' Lerala mine in Botswana will offer theproject at an online auction later this month afterfailing to secure viable bids. Kimberley placed its Lerala subsidiary into judiciarymanagement - a restructuring option for insolvent companies - in June last yeardue to a lack of funding, media reports said at the time. Lerala produced about59,000 carats in t...Read More
A diamond mine in Botswana, owned by now extinct Australian miner Kimberley Diamonds, is going up for sale at an online auction to be held Monday, as its liquidators failed to secure viable offers.The Lerala Mine was opened in 2008 and had to be shut twice due to weak sales, until it finally was placed under judicial management in May last year, leaving 130 people out of work and millions in unpa...Read More
RAPAPORT... Three Art Deco emerald and diamond pieces by legendaryBritish designer Hennell sold for $2.7 million (GBP 1.9 million) at Bonhams in Londonfollowing a bidding war. The collection's top-seller was an early-20th-century,double-sided-cabochon, 12.13-carat emerald and diamond pendant necklace (pictured), whichwent for $1.8 million (GBP 1.3 million), far exceeding its pre-sale estimate of$2...Read More