Diamond stocks Articles

Lucapa sells 4 126 ct parcel for A$9.6m

20th November 2017 / Megan van Wyngaardt     

JOHANNESBURG (miningweekly.com) - ASX-listed Lucapa Diamond Company sold 4 126 ct of diamonds, achieving proceeds of A$9.6-million at its eighth alluvial diamond sale for the year.Sold in conjunction with its partners, Empresa Nacional de Diamantes and Rosas & Petalas, the diamonds from the Lulo project in Angola averaged A$2 332/ct.AdvertisementThe latest sale brought gross proceeds from Lulo dia...Read More

Story of the Peace Diamond: It Takes a Village

Nov 20, 2017 / Avi Krawitz

RAPAPORT... Negotiations began immediately when Komba John-Bull and his four coworkers arrived at Pastor Emmanuel Momoh's home on that fateful night on March 13, 2017. The team of diamond diggers was confident they had something significant and, as tradition dictated, were entitled to a dash - or stipend - from their financier, who owned the rights to the massive rock they'd found earlier that day...Read More

Start-Up Gets Funds for Dealer Payment App

Nov 20, 2017 / Rapaport News

RAPAPORT... An Israeli startup is set to receive up to $1.2 million frominvestors to launch a mobile payment app that will help diamond traders closedeals on the spot, without needing to wait for funds to clear. Mazalit will enable users to finalizepayment in under 10 seconds, with about 90% lower fees than most dealers currentlyhave to pay when wiring money across borders, its founder and CEO Ze...Read More

DPA Launches New 'Real is Rare' Movies and Print Ads

November 20, 17 / Albert Robinson

(IDEX Online) - The Diamond Producers Association (DPA) launched new "Real is Rare" advertising at the 18th Annual Latin Grammy Awards. "The Reveal" is one of two new videos presenting a modern take on love and diamonds. Meanwhile, "The Other Party" debuted on ABC's broadcast of the 2017 American Music Awards on November 19. Developed in collaboration with creative agency, Mother New York, th...Read More

Start-Up Gets Funds for Payment App

Nov 20, 2017 / Rapaport News

RAPAPORT... An Israeli startup is set to receive up to $1.2 million frominvestors to launch a mobile payment app that will help diamond traders closedeals on the spot, without needing to wait for funds to clear. Mazalit will enable users to finalizepayment in under 10 seconds, with about 90% lower fees than most dealers currentlyhave to pay when wiring money across borders, its founder and CEO Ze...Read More

Zsa Zsa Gabor's diamond necklace could fetch up to $1.5 million

Nov. 19, 2017, 4:11 PM / Andrew Topf

A diamond necklace owned by the late actress Zsa Zsa Gabor is expected to sell for between $1.2 and $1.5 million at auction.Forbes reported on Friday that the stunning necklace, made by Harry Winston in 1964, features 66 carats of diamonds - some weighing as much as 8 carats - and ranging in quality from F to I with a clarity of VVS2.The necklace will be auctioned by Bonhams in New York on Decembe...Read More

De Beers, Alrosa Announce 2018 Sale Schedules

Nov 19, 2017 / Rapaport News

RAPAPORT... De Beers and Alrosa have released dates of theirrough-diamond sales for 2018, with both miners maintaining their usualschedules. De Beers holds 10 sales, or sights, in Botswana every year,in which it sells about 90% of its rough supply to long-term clients, known assightholders. Alrosa's main contract sales are monthly, taking place in Moscow.De Beers' final sight of this year will sta...Read More

Flooded Mine Hits Alrosa Profit

Nov 19, 2017 / Rapaport News

RAPAPORT... Alrosa's profit slumped in the third quarter as a fatalflood at the Mir mine forced the Russian company to devalue the asset.Net income fell 51% year on year to $219.6 million (RUB 12.95 billion) for the three months ending September 30, after the miner incurred a $125.1 million (RUB 7.38 billion) "impairment cost" as a result of the incident. Eight workers died in the August 4 flood,...Read More

U.S. Jewelry Sales Post Strong Gains in September

November 19, 17 / Albert Robinson

(IDEX Online) - Sales of fine jewelry and fine watches rose by 7.7 percent in the U.S. market in September 2017, when compared to the same month a year ago, as the graph below illustrates. Sales were an estimated $6.1 billion, according to preliminary data from the U.S. Commerce Department. The September sales performance was lower than the figure for August of $6.6 billion which was the best s...Read More

Industry Mourns Diamond Broker Mark Boston

Nov 19, 2017 / Rapaport News

RAPAPORT... Mark Boston, a much-loved rough-diamond broker credited withdriving forward India's cutting industry, died last Monday at the age of 71.He passed away at Royal Trinity Hospice in London, havingdecided to stop treatment last month after an 11-year battle with cancer, hisfamily said in a recent statement. Boston, chairman of rough brokerage H. Goldie, started his45-year career in the dia...Read More

Former H. Goldie & Co CEO Mark Boston Passes Away at Age of 71

November 19, 17 / Albert Robinson

(IDEX Online) - Mark Boston, former CEO of diamond brokers H. Goldie & Co., has passed away at the Royal Trinity Hospice in London, after 11 years of battling cancer, at the age of 71. He decided to stop treatment last month and his family "was overwhelmed by an outpouring of love and admiration from friends and colleagues in the diamond community, reaching out from every corner of the globe," s...Read More

Mir Mine Flood Dents Alrosa Profit

Nov 19, 2017 / Rapaport News

RAPAPORT... Alrosa's profit slumped in the third quarter as a fatalflood at the Mir mine forced the Russian company to devalue the asset.Net income fell 51% year on year to $219.6 million (RUB 12.95 billion) for the three months ending September 30, after the miner incurred a $125.1 million (RUB 7.38 billion) "impairment cost" as a result of the incident. Eight workers died in the August 4 flood,...Read More

Botswana Diamonds positive about potential at South African project

17th November 2017 / Anine Kilian     

JOHANNESBURG (miningweekly.com) - A detailed ground geophysical survey undertaken on eight Group 1 kimberlites at Aim-listed Botswana Diamonds' Free State exploration project, which is located between Bloemfontein and Kimberley, in South Africa, has indicated that the sizes of these kimberlites range from 0.3 ha to 1.15 ha.The kimberlite sizes were determined using a combination of magnetic, elect...Read More

Alrosa Q3 net profit halves on losses from flooded mine

17th November 2017 / Reuters     

MOSCOW - Alrosa, the world's largest producer of rough diamonds, said third-quarter net profit has halved to 12.95-billion roubles from the year-ago period, caused by losses related to a flooded underground mine.The company said it incurred losses worth 7.38-billion roubles from the flooded mine Mir.AdvertisementThe profit for the period fell from 26.6-billion roubles earned in July-September...Read More

Rapaport Weekly Market Comment

Nov 16, 2017 / Rapaport News

Sentiment improves, with wholesale jewelers busyfilling Christmas orders. Record $25.3B Alibaba Singles' Day (11/11) salessignal strong mobile buying for upcoming holiday season. Polished tradingstable. Rough market cautious, with low profitability after $455M De Beerssight. High polished inventory sinks Sarine 3Q sales -35% to $11M. Genevaauctions disappoint. Christie's sells $106M (75% bylot), w...Read More

Russian Inquiry Releases Findings Into Mir Mine Flooding Tragedy

November 16, 17 / Albert Robinson

(IDEX Online) - An inquiry into the causes of the accident at Mir mine on August 4 that took the lives of eight people in the flooded mine concluded that the accident was caused by a combination of hydro geological, technical and organizational factors. One of the main reasons was the anomalous hydro geological complexity of the deposit conditioned by a system of unfavorably underlying cracks i...Read More

Need for collaboration in CSR initiatives emphasised

November 16, 2017 / Mia Breytenbach     

With the mining industry now recovering from the downturn in commodity prices, and a new balance emerging in the global demand and supply of minerals, now is the time to reflect, innovate and plan for a more resilient industry in the future, says Mineral Resources Deputy Minister Godfrey Oliphant. Speaking at the Implementing CSR Strategies in Mining conference, in Johannesburg, earlier this month...Read More

'Raj Pink' and Other Top-End Jewels Fail to Sell at Sotheby's

November 16, 17 / Albert Robinson

(IDEX Online) - Following a build-up last several weeks, there was disappointment when the 37.3-carat cushion-shaped "Raj Pink" ring, the star lot at Sotheby's semi-annual jewelry sale in Geneva, failed to sell. The ring never got anywhere close to its pre-sale estimate of $20 million to $30 million, as bidding started at 9.9 million Swiss francs ($10 million) and stopped at 14 million Swiss fr...Read More

Ruby Demand Robust at Gemfields Sale

Nov 16, 2017 / Rapaport News

RAPAPORT... Gemfields sold $55 million worth of rough rubies inSingapore last week, the highest revenue figure the company has achieved forany auction to date. "The strong revenues from this auction...underscore the factthat market demand for responsibly sourced rubies from Mozambique remains infine fettle," said Sean Gilbertson, who took over as CEO of Gemfields followingthe miner's July takeover...Read More

'A good number of investors' considering countries offering better return-on-investment prospects than SA

November 16, 2017 / Dylan Slater     

Mining policies imposed by the Department of Mineral Resources (DMR) on local industry are creating increased uncertainty for investors, a growing number of whom are considering investing in mining projects and exploration in other countries, with a greater chance of a healthier return on investment, says Nedbank mining finance principal Paul Miller.He spoke in September during the Hogan Lovells A...Read More

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