Canada's Lucara Diamond (TSX:LUC) announced today the recovery of another big diamond from its 100% owned Karowe Mine located in Botswana.The rock weighed 327 carats and it is a top white gem diamond. According to the miner, eight diamonds greater than 100 carats have now been recovered at Karowe since the beginning of the year. This includes the 472-carat diamond found earlier this month, which w...Read More
NEW YORK, April 26 (Reuters) - Gold and diamond companies including Berkshire Hathaway Inc's Richline Group Inc joined with IBM to develop blockchain technology to track the origin of jewelry and ensure it is ethically sourced, the companies said on Thursday.The joint initiative dubbed TrustChain aims to make it easier for consumers to track diamonds and precious metals through the various steps o...Read More
On April 24, ALROSA, the world leader in diamond mining, and Antwerp World Diamond Centre (AWDC) signed a new extended cooperation agreement in Moscow. The agreement continues positive cooperation experience between the parties and expands bilateral interaction in line with new challenges of the market.ALROSA CEO Sergey Ivanov and AWD?? CEO Ari Epstein signed the new agreement. The official ceremo...Read More
Africa-focused Gem Diamonds' (LON:GEMD) revenue nearly tripled in the first quarter of the year thanks to strong demand for its high-quality white rough rocks and the sale of a 910-carat diamond, the fifth-largest in history.Delivering results for the quarter ended on March 31, the company said the $40 million fetched by the giant D-Colour Type IIa diamond found at its flagship Let??eng mine i...Read More
Diamond market seasonallyquiet. Polished prices steady, but profit margins squeezed after April rough increase.Polished trading more profitable than rough manufacturing. Petra 1Q roughprices +5%. Let??eng 1Q average price +98% to $3,276/ct. Miners sold more caratsthan recovered in 1Q: De Beers sales -38% to 8.8M cts., production +15% to 8.5Mcts. Alrosa sales -6% to 13.3M cts., production -17% to 7...Read More
(IDEX Online) - Organizers of the first Bharat Diamond Week at the Bharat Diamond Bourse (BDB) in Mumbai, India, said the show exceeded expectations. The Bharat exchange is already planning the next edition of the fair which it says will be even bigger and feature new elements. The first-ever Bharat Diamond Week was opened by US Consul General Edgard D. Kagan in the presence of BDB President Anoo...Read More
JOHANNESBURG (miningweekly.com) – Diamond producer Lucara Diamonds has recovered a 327 ct, top white gem diamond from its 100%-owned Karowe diamond mine, in Botswana. Eight diamonds greater than 100 ct have now been recovered at Karowe since the beginning of the year, including a 472 ct diamond.AdvertisementLucara will hold an exceptional stone tender in June that will include for sale...Read More
(IDEX Online) - CIBJO, the World Jewellery Confederation, has paid tribute to the memory of a former president, Friedrich (Fritz) Schwarzer, who died recently in Austria, after decades of public service in the jewelry industry, both in his native country and internationally, and more than 60 years of experience in the trade. He headed the World Jewellery Confederation from 1993 through 1996. Born...Read More
(IDEX Online) - Lucara Diamond Corp. has recovered a 327-carat, top white gem diamond from its 100% owned Karowe diamond mine in Botswana. Eight diamonds greater than 100 carats have now been recovered at Karowe since the beginning of the year, including a 472-carat diamond announced earlier this month. Lucara will hold an Exceptional Stone Tender in June that will include the 327 an...Read More
RAPAPORT... Gem Diamonds' revenue nearly tripled in the first quarteramid strong demand for its rough and the sale of the fifth-largest diamond inhistory. Revenue surged 174% year on year to $106.2 million for thethree months ending March 31, the miner said Thursday. The company sold 32,412carats from its Let??eng mine inLesotho across two tenders during the period. In March, the company sold the...Read More
(IDEX Online) - Gem Diamonds Limited said strong demand for Let??eng's large high-quality white rough diamonds has continued, as evidenced by the average price achieved of $3,276 per carat during the first quarter of this year. Two tenders were held in the quarter, with a total of 32,412 carats sold for $106.2 million, achieving an average price of $3,276 per carat. The diamond which achieve...Read More
RAPAPORT... The US jewelry trade has shrunk 4% since a year ago, accordingto data from the Jewelers Board of Trade (JBT). A total of 25,667 businesses were in operation in the firstquarter of this year, 1,141 fewer than in the same period in 2017, the JBT saidTuesday. During the first quarter of this year, 343 US jewelry companies closed. That included 241 retailers, 21wholesalers and 26 manufactu...Read More
JOHANNESBURG (miningweekly.com) – LSE-listed Gem Diamonds’ carat recoveries increased by 32% year-on-year to 33 526 ct for the three months ended March 31, compared with the 25 479 ct recovered in the first quarter of 2017.Carat recoveries also rose by 10% on the 30 560 ct recovered in the December 2017 quarter.AdvertisementGem sold 32 412 ct in the March quarter, a 38% year-on-ye...Read More
Canada's Pangolin Diamonds (TSX-V:PAN) has found its first diamond at the Jwaneng South Project in Botswana, which is located about 100 km south of the Jwaneng diamond mine, the world's richest.Pangolin is led by Leon Daniels, the same geologist who discovered the kimberlite pipe that produced the giant Lesedi La Rona diamond. The white diamond, measuring about 1 mm, was recovered from a soil s...Read More
RAPAPORT... Israeli authorities have lengthened the amount of time dealers can spendinspecting polished diamonds without paying a 0.1% import duty. Diamond controller Danny Tal, Israel's regulator for theindustry, will now allow companies up to 30 days to examine stones tax-free beforedeciding whether to buy them, as long as the goods are worth $50,000 or more, theIsrael Diamond Exchange (IDE) rep...Read More
(IDEX Online) - The Antwerp World Diamond Centre (AWDC) has signed a cooperation agreement with ALROSA during the City of Antwerp's Mission to Russia. "Leading this mission emphasizes AWDC's commitment to safeguarding Antwerp's position as the leading trade hub in the diamond industry, and signing this new cooperation agreement with ALROSA will expand and strengthen the privileged relationship be...Read More
JOHANNESBURG (miningweekly.com) – With all conditions for the proposed acquisition by Australian diversified exploration company Newfield Resources of Aim-listed Stellar Diamonds, now met, the acquisition will become effective from April 26.Newfield had offered 0.76 Newfield shares for each Stellar share, valuing the diamond miner at £7.74-million, or about $10.8-million.AdvertisementA...Read More
RAPAPORT... Kering reported buoyant jewelry-and-watch sales in the first quarter, driven by newcollections and extensions of certain product lines. "Watches and jewelryperformed very well this quarter," the company said Wednesday. "Thestrengthened positioning of [jewelry brands] Boucheron, Pomellato and Qeelin are paying off,thanks to new collections, extended iconic lines, and investments incommu...Read More
HARARE – After two days of demonstrations – which at one stage turned violent – disgruntled villagers from Zimbabwe’s diamond-rich area of Marange on Tuesday began dispersing after a day of running battles with the police.There were no major injuries reported. Police fired tear gas and threatening to unleash vicious dogs on the protesters. However, the only concern has...Read More
WINDHOEK – Diamond and uranium producer Namibia may scrap requirements for black ownership in the mining sector as it seeks to woo investors to an industry that is rebounding with the commodities cycle, its new mines minister said on Tuesday.Regional peers such as Angola and Zimbabwe are also trying to kickstart their mining sectors by easing investment rules at a time when other African cou...Read More