BOTSWANA – A diamond mine in Botswana will be offered for sale at an online auction after its liquidators failed to secure viable offers.Online bids for the Lerala Diamond Mine open at 17:00 on May 24 and run through 14:00 on May 30, according to a statement published in the weekly Monitor newspaper by the auctioneers, GoIndustry DoveBid.AdvertisementLerala, which is owned by Sydney-based Ki...Read More
(IDEX Online) - India posted a rise in polished diamond exports of 8.5% in March to $2.03 billion, the Gem and Jewellery Export Promotion Council (GJEPC) reported. In the country's fiscal year so far (April-March), polished exports increased by 4.2% to $23.7 billion. Imports of rough diamonds rose 5.3% to $1.68 billion in March, while rough imports for April to March jumped 10.6% to $18.9 billio...Read More
RAPAPORT... The Natural Color Diamond Association (NCDIA) will hold aseminar during the upcoming JCK Las Vegas show, to be moderated by Rapaport Editor in Chief Sonia EstherSoltani.The series, which will discuss the benefits of naturaldiamonds and natural colored diamonds, will feature a variety of panelists,including Andrew Coxon, president of the De Beers Institute of Diamonds; Andrew Bone, exec...Read More
(IDEX Online) - Namibia aims to complete revisions to its mining act by the end of 2018, according to Mines Minister Tom Alweendo. The revisions being considered include policies on environmental and social responsibility and ensuring the "legislation is sufficiently attractive to inspire new investment," Alweendo said, according to a Reuters report. The country's mining sector is currently govern...Read More
RAPAPORT... Phillips's May Hong Kong auction will feature a rare52.50-carat Kashmir sapphire and diamond necklace with an estimated price of $2.2million to $2.9 million (HKD 17 million to HKD 23 million). "We are very proud to be entrusted to present a very rareand important Kashmir sapphire and diamond necklace - the first to be offered atauction in the past decade," Terry Chu, head of jewel...Read More
(IDEX Online) - The Natural Color Diamond Association will hold a seminar on 'The benefits and virtues of natural diamonds and natural color diamonds' during the JCK show on June 1. Among the industry figures taking part will be: Andrew Coxon - President, The De Beers Institute of Diamonds; Andrew Bone - Executive Director, Responsible Jewelry Council; Alethea Inns - Director of Gemology an...Read More
RAPAPORT... The Diamond Club West Coast (DCWC) has elected five people to its board of directors. The new members are Gaby Bachoura of Jewelry Palace, LisaWiener of Worldwide Diamonds, Avida Giloh of Revere Jewels, Steve Korshak of KorshakDiamonds and Setu Doshi from JB Brothers USA. They will join existing board membersDoron Auslander of Adler Trading Co., Tony Ayvazian from Ayvazian Co. and Vipu...Read More
RAPAPORT... India's polished-diamond exports grew 8% in March, accordingto data the nation's Gem and Jewellery Export Promotion Council (GJEPC)released Friday. Shipments increased to $2.03 billion year on year for themonth, with the volume of exports falling 8% to 2.8 million carats, the GJEPCfigures showed. The average price of exports jumped 18% to $721 per carat. Polished imports slumped 34% t...Read More
(IDEX Online) - Doug Hucker of the American Gem Trade Association (AGTA), is the recipient of the American Gem Society's (AGS) most prestigious honor, the Robert M. Shipley Award. Hucker was presented with the award at the Society's annual Conclave in Nashville, TN. Hucker received the award based on his commitment to the jewelry industry and because of his friendship and service toward the Socie...Read More
RAPAPORT... The Natural Color Diamond Association (NCDIA) will hold aseminar during the upcoming JCK Las Vegas show, to be moderated by Rapaport Editor in Chief Sonia EstherSoltani.The series, which will discuss the benefits of naturaldiamonds and natural colored diamonds, will feature a variety of panelists,including Andrew Coxon, president of the De Beers Institute of Diamonds; Andrew Bone, exec...Read More
RAPAPORT... The Gahcho Ku?(C) mine in Canada yielded 1.6 million carats inthe first quarter ending March 31, keeping the asset on track to reach itsproduction guidance for the year. "The grades continue to perform well at the Gahcho Ku?(C) mine,and are a key driver of the production results," said David Whittle, CEO ofMountain Province, which owns the mine in partnership with De Beers. "Throughput...Read More
(IDEX Online) - The London Diamond Bourse (LDB) has been chosen as the sole industry representative to officiate and run a tender on behalf of an anonymous vendor. A range of rough diamonds will be presented for a trade sale with closed bids being accepted from 29 May - 12 June. The collection includes one rough stone of 124 carats and a variety of high quality rough stones from 8/4 to 9 c...Read More
RAPAPORT... Sales and profit grew sharply at Tse Sui Luen (TSL) inthe past 12 months amid stronger consumer sentiment in Greater China and a risein tourism to Hong Kong. Revenue jumped 12% to $486 million (HKD 3.81 billion) acrossall markets in the fiscal year ending February 28, the Hong Kong-based jewelerreported Thursday. The annual profit of $5.9 million (HKD 46.6 million) wasroughl...Read More
(IDEX Online) - Sarine Technologies Ltd said that leading Japanese jewelry company K-Uno is the first retailer in the world to adopt the new Sarine 4Cs diamond report - the world's first artificial-intelligence based, technology driven automated grading report. The introduction of Sarine's 4Cs grading reports in the K-Uno chain was announced last week at the company's flagship store in t...Read More
RAPAPORT... US consumers are expected to spend 8% less on jewelry thisMother's Day, the National Retail Federation (NRF) said last week. Americans will shell out $4.6 billion on jewelry this year,compared with $5 billion in 2017, the trade organization predicted. Overallspending for Mother's Day will decline 2% to $23.1 billion, according to its projection. Even though sales are likely to drop, "t...Read More
RAPAPORT... IBM has partnered with members of the diamond and jewelryindustry to create a blockchain platform for improving traceability.The technology giant will work with retailer HelzbergDiamonds and jewelry manufacturer Richline Group - both subsidiaries of WarrenBuffett's Berkshire Hathaway - to launch the "Trust Chain Initiative." Other members of the consortium are Asahi Refining andLeachGa...Read More
RAPAPORT... Lucara Diamond Corp. has unearthed a 327-carat rough diamondfrom its Karowe mine in Botswana. The high-color white diamond is the eighth over 100 carats that Lucara has found this year, and the ninth largest in its history, it saidlast week. Earlier this month, the miner recovered a 472-carat "top lightbrown" diamond. Lucara, known for producing large stones from Karowe, sold itsbigge...Read More
RAPAPORT... US consumers are expected to spend 8% less on jewelry thisMother's Day, the National Retail Federation (NRF) said last week. Americans will shell out $4.6 billion on jewelry this year,compared with $5 billion in 2017, the trade organization predicted. Overallspending for Mother's Day will decline 2% to $23.1 billion, according to its projection. Even though sales are likely to drop, "t...Read More
RAPAPORT... IBM has partnered with members of the diamond and jewelryindustry to create a blockchain platform for improving traceability.The technology giant will work with retailer HelzbergDiamonds and jewelry manufacturer Richline Group - both subsidiaries of WarrenBuffett's Berkshire Hathaway - to launch the "Trust Chain Initiative." Other members of the consortium are Asahi Refining andLeachGa...Read More
RAPAPORT... Lucara Diamond Corp. has unearthed a 327-carat rough diamondfrom its Karowe mine in Botswana. The high-color white diamond is the eighth over 100 carats that Lucara has found this year, and the ninth largest in its history, it saidlast week. Earlier this month, the miner recovered a 472-carat "top lightbrown" diamond. Lucara, known for producing large stones from Karowe, sold itsbigge...Read More