Diamond stocks Articles

International Gemological Institute Launches Diamond ID Report

October 24, 17 / Albert Robinson

(IDEX Online) - The International Gemological Institute (IGI) has launched its diamond evaluation card - the Diamond ID report. Unlike other reports where the diamond is kept in a vault and the report in a separate location, IGI's Diamond ID report stores the evaluation and diamond together in a secure credit card-size casing, IGI said in a statement. The ID report contains security features an...Read More

Luk Fook Growth Reflects China Recovery

Oct 24, 2017 / Rapaport News

RAPAPORT... Luk Fook recordedan increase in same-store sales in its second fiscal quarter, driven by strongperformances in mainland China and Hong Kong after a prolonged revenue decline.Same-store sales grew 17% year on year in thethree months that ended September 30, powered by a robust performance at itsoutlets in mainland China, where same-store sales were up 11%, the Hong Kong-based jeweler re...Read More

Planned 5% VAT On Loose Diamonds Continues to Creates Waves In India And UAE

October 24, 17 / Albert Robinson

(IDEX Online) - A proposed new 5% value added tax (VAT) on loose rough and polished diamonds in the United Arab Emirates (UAE) due to start being imposed next January has created huge waves both in the UAE and in India which imports and exports from Dubai. The emirate has become the world's third-largest diamond trading center - jumping from $300 million about 15 years ago to $26 billion la...Read More

Signet Closes Sale of Prime Credit Program

Oct 24, 2017 / Rapaport News

RAPAPORT... SignetJewelers has completed the first stage in outsourcing its in-house creditprogram.This includesthe sale of its prime-only receivables tothecard services business of Alliance Data SystemsCorporation for $960 million, Signetsaid. Prime credit relates to customers with a strong likelihood of makingpayments. The deal also involves contracting out the servicing of non-prime products so...Read More

Signet Jewelers Completes Fist Stage of Finance Program

October 24, 17 / Albert Robinson

(IDEX Online) - Signet Jewelers Limited has announced the completion of the first phase of the strategic outsourcing of its in-house credit program. This includes: The sale of its prime-only credit quality accounts receivable to the Columbus, Ohio-based card services business of Alliance Data Systems Corporation for par value of $960 million at the time of closing; Outsourcing of the credit...Read More

Northern Miner's Progressive Mine Forum Livestream

Oct. 23, 2017, 10:03 AM / Northern Miner

This is a live stream from the Progressive Mine Forum. The focus of this innovative event is on bringing together service providers, mining company executives as well as students and young professionals to learn about and interact with the most cutting-edge innovations that are set to re-define the mining industry. Read More

Petra Diamonds revenue takes hit from Tanzania crackdown

Oct. 23, 2017, 9:13 AM / Reuters

Oct 23 (Reuters) - Petra Diamonds Ltd's first quarter revenue fell by 17 percent after the government of Tanzania last month seized a consignment of diamonds from its Williamson mine.The owner of the Cullinan mine in South Africa has been hit by a crackdown on mining firms in Tanzania, where the government is attempting to secure more revenue from the sector.The Tanzanian government confiscated a...Read More

Firestone Diamonds Beats Production Goal

Oct 23, 2017 / Rapaport News

RAPAPORT... FirestoneDiamonds slightly surpassed its output target at the Liqhobong mine in Lesotho inthe first fiscal quarter that ended September 30.The miner recovered 199,007 carats during the July-to-September period, compared to 204,000 carats in the previousquarter, it said in a statement Monday.It sold 195,330 carats in the quarter, including Liqhobong'ssecond $1 million-plus diamond, a 45...Read More

Diamond Fund Donates $130K to Botswana Program

Oct 23, 2017 / Rapaport News

RAPAPORT... The Diamond Empowerment Fund (DEF) has presented a $130,000 checkto the Botswana Top Achievers program for outstanding scholars who can make acontribution to the country's economic development.The ceremony was held at Botswana's mission tothe United Nations earlier this month. Thegrant will be used to continue supporting Botswana youth through access tohigher education to enable them t...Read More

Petra reports strong Q1 performance, despite strike, Tanzania export ban

23rd October 2017 / Creamer Media Reporter     

JOHANNESBURG (miningweekly.com) - Despite labour disruptions at LSE-listed Petra Diamonds' Finsch, Koffiefontein and Kimberley Ekapa Mining (KEM) Joint Venture (JV) operations in late September, CEO Johan Dippenaar says the group achieved a strong start to the 2018 financial year.Production for the quarter was down 4% year-on-year to 1.05-million carats, mainly as a result of the planned reduction...Read More

Swiss Watch Exports See Further Growth

Oct 23, 2017 / Rapaport News

RAPAPORT... Swiss watch exports grew in September, drivenby stronger demand from Hong Kong and Singapore, the Federation of the SwissWatch Industry reported. Exports rose 3.7% to $1.82 billion (CHF 1.8 billion) for the month, supportedby a 14% rise in shipments to Hong Kong, which stood at $216.4 million (CHF213.4 million). Exports to Singapore jumped 90% due to thedelivery of high-priced watches,...Read More

ALROSA Posts 6% Rise On Year In Q1-3 Production

October 23, 17 / Albert Robinson

(IDEX Online) - ALROSA reported a 6% year-on-year rise in diamond production totaling 29.5 million carats for the first nine months of this year, driven by higher production at alluvial deposits and the Udachny underground mine and Karpinskogo-1 pipe operated by Severalmaz. "The company's diamond production grew as a result of more active operations at alluvial deposits and strategic mining...Read More

Firestone Diamonds Expects Market To Improve In Medium Term After Stable Q3

October 23, 17 / Albert Robinson

(IDEX Online) - Firestone Diamonds plc expects market conditions to improve in the medium term in a report on the quarter ended 30 September for production at its Liqhobong Diamond Mine. "The overall market environment has seen a combination of oversupply and the previously reported Indian de-monetization program which is still having an impact on the Run of Mine goods (+11 diamond sieve and sma...Read More

Lucapa boosts Lesotho diamond project's economics

23rd October 2017 / Esmarie Swanepoel     

PERTH (miningweekly.com) - A new development plan for the Mothae kimberlite diamond mine, in Lesotho, has significantly improved project economics, ASX-listed Lucapa Diamonds reported on Monday.Lucapa's initial plans for the Mothae project would have seen the company process some two-million tonnes of mainly weathered, near-surface kimberlite material at a rate of 720 000 t/y, over the first three...Read More

Confiscated Diamonds Weigh on Petra Revenue

Oct 23, 2017 / Rapaport News

RAPAPORT... Petra Diamonds reported a 17% slide in revenue during its first fiscal quarter after a valuation dispute with Tanzanian authorities.Revenue fell to $78.7 million in the July-to-September quarter, including $10.9 million in revenue from exceptional diamonds, Petra said Monday in a trading update for the period. There were no sales recorded from the Williamson mine in Tanzania, since the...Read More

ALROSA's Vinikhin Visits Israel to Display Dynasty Collection

October 23, 17 / Albert Robinson

(IDEX Online) - Pavel Vinikhin, Director of DIAMONDS ALROSA, the company's polishing branch, visited Israel on Thursday and sat down with IDEX to discuss the purpose of his visit. What is the purpose of your visit? We came here to showcase our unique collection of polished diamonds, under the name of Dynasty, to Israeli clients. The collection will be sold at the special online auction in N...Read More

Tanzania President names tax expert as central bank governor

23rd October 2017 / Reuters     

DAR ES SALAAM - Tanzania's new central bank governor will be tax law professor Florens Luoga, the country's President said on Monday.President John Magufuli said Luoga would take over in December or January after the tenure of current governor Benno Ndulu expires.Advertisement"I have decided to appoint a new (central bank) governor from among members of the committees that investigated the...Read More

Smart Watches to Boost J.C. Penney Jewelry Sales

Oct 22, 2017 / Rapaport News

RAPAPORT... J.C. Penney has launched a selection ofsmart watches in its stores as part of a re-branding of its jewelry department.Electronic timepieces from brands includingSamsung and LG will appear at 245 stores and on its e-commerce platform aheadof the holiday season, the department-store chain said Thursday."Fine jewelry is one of the bestopportunities for cross-shopping at J.C. Penney, as sh...Read More

RJC, DMCC Sign Social Responsibility Deal

Oct 22, 2017 / Rapaport News

RAPAPORT... The Responsible Jewellery Council (RJC) and the Dubai Multi CommoditiesCentre (DMCC) have agreed to collaborate to improve corporate socialresponsibility and promote high standards in the jewelry trade.Under the memorandumof understanding, the groups will strive to educatethe industry on sustainability efforts and ethical business practices. The groups will also develop programs to pro...Read More

India's Polished Exports Grow in September

Oct 22, 2017 / Rapaport News

RAPAPORT... India's polished-diamond exports increased 6% year on yearto $2.65 billion in September, according to data the nation's Gem &Jewellery Export Promotion Council (GJEPC) recently released.By volume, exports rose 24% to 3.9 million carats, with theaverage price down 14% to $677 per carat, the data showed. Polished importsfell 6% to $174 million, meaning net polished exports increased 7% t...Read More

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