Diamond stocks Articles

New version of breathalyser used at mines, industrial sites reduces chances of cheating

16th June 2017 / Mia Breytenbach     

To further improve the security of testing and reduce "cheating", or circumvention of breathalyser tests, alcohol detection technology and services provider Alco-Safe is developing a new version of its ALControl breathalyser unit for application at mine and industrial sites. "The new unit, expected to be launched in June, will comprise a camera situated above the sampling cone. As the person blows...Read More

Kimberley Diamonds goes into administration

16th June 2017 / Esmarie Swanepoel     

PERTH (miningweekly.com) - Embattled Kimberley Diamonds has reportedly entered voluntary administration only days after its Lerala diamond mine, in Botswana, was closed.Kimberley delisted from the ASX in March this year, and the Lerala mine was reportedly closed on June 1, with the company citing weak market conditions.AdvertisementASX-listed Winmar Resources, which is a joint venture (JV) partner...Read More

DMCC and ALROSA extend cooperation in Moscow meeting

Jun. 15, 2017, 9:56 AM / DMCC

Sergey Ivanov, ALROSA and Ahmed Bin Sulayem, DMCCDubai, UAE; 15 June 2017: Executive Chairman of DMCC (Dubai Multi Commodities Centre), Ahmed Bin Sulayem and ALROSA President Sergey Ivanov, have agreed to enhance diamond trade cooperation. The announcement further cements Dubai's role as a leading global diamond center.At a working meeting in ALROSA's headquarters in Moscow, recently appointed Ser...Read More

De Beers sends world's top diamond-searching ship to explore off coast of Namibia

Jun. 15, 2017, 5:01 AM / Cecilia Jamasmie

De Beers, the world's No.1 diamond miner by value, unveiled Thursday the world's largest diamond exploration vessel, which will search for the coveted stones on the seabed off the coast of Namibia.The $157 million vessel will enable Debmarine Namibia, a 50/50 joint venture between the government of the African country and De Beers, to explore diamond deposits and secure diamond supply in the count...Read More

Gemfields beats own ruby sales record at Singapore auction

Jun. 15, 2017, 4:18 AM / Cecilia Jamasmie

Emeralds and rubies miner Gemfields (LON:GEM), currently a takeover target from Chinese and South African interests, said Thursday it achieved record revenues from its latest auction of rough rubies.The miner is currently a takeover target from Chinese and South African interests.At the auction, held in Singapore, the company sold $54.8 million worth of rubies, a record high for any Gemfields auct...Read More

Rapaport Weekly Market Comment

Jun 15, 2017 / Rapaport News

Polished market stable with selective,price-sensitive buyers at Las Vegas shows. Opportunity for US independents togain market share, as major retailers are under pressure. Pockets of gooddemand, with shortage of better-quality SIs. Rough market strong during DeBeers sight. Dealers hoping June Hong Kong show will lift quiet Far Easttrading. Chow Tai Fook FY 2017 sales -9% to $6.6B, profit +6% to $...Read More

Rapaport Weekly Indian Market Report

Jun 15, 2017 / Rapaport News

Disappointment after JCK show failed to stimulatepositive trading momentum. Lower retail attendance meant fewer orders anduncertainty for second half of 2017. Manufacturing expected to slow as polishedinventory levels increase and general demand remains sluggish. Good demand forSIs in all categories. Rough demand firm after De Beers limited supply duringsight week. RoundRead More

De Beers to Shut Dubai Auction Base

Jun 15, 2017 / Joshua Freedman

RAPAPORT... De Beers will close its auction-sales office in Dubai due todeclining demand from local companies, the miner has announced.Operations will cease on July 31, meaning De Beers will nolonger display rough diamonds there from the year's sixth sales cycle onward, thecompany told clients this week in a letter obtained by Rapaport News. The global rough-auctions business has shifted focus toM...Read More

Thai Gems and Jewelry Fair Begins in Bangkok

June 15, 17 / Albert Robinson

(IDEX Online) - The first edition of the Thai Gems and Jewelry Fair, being held from June 15 to 18, kicked off today with organizers saying 750 exhibitors are taking part. The event is organized by the Thai Gem and Jewelry Traders Association (TGJTA) with the cooperation of the Ministry of Tourism and Sports (MOTS), the Tourism Authority of Thailand (TAT), and AEC+6 industry associations. It is...Read More

5 Takeaways from Las Vegas

Jun 15, 2017 / Avi Krawitz

RAPAPORT... The Las Vegas jewelry show season injected some confidence back into the diamond trade, despite a drop in attendance. Beyond the trading prospects for buyers and suppliers, last week's shows provided a snapshot of the diamond and jewelry market. As I spoke with industry leaders and members of the trade, and attended the many impressive seminars on offer at the JCK show, I found the mar...Read More

Sales and Profit Jump for India's Gitanjali

Jun 15, 2017 / Rapaport News

RAPAPORT... Gitanjali Gems' revenue grew 19% to $2.58 billion (INR 165.73billion) in the fiscal year that ended March 31, the Indian jewelry retailer reported.Diamond sales jumped 20% to $599 million (INR 38.54 billion)for the year, while revenue from jewelry advanced 21%to $2.11 billion (INR 136.07 billion), according to a recent stock-exchangefiling. Net profit soared 58% to $25.9 million (INR 1...Read More

Chamber going to court to halt devastating charter blow to already battered mining sector

15th June 2017 / Martin Creamer     

JOHANNESBURG (miningweekly.com) - The Chamber of Mines of South Africa will be applying at the earliest opportunity for a court date for a declaratory order on continuing empowerment consequences, as well as immediately seeking an interim court interdict to suspend the implementation of Mining Charter Three, the devastating set of new legal requirements that Minerals Minister Mosebenzi Zwane on Th...Read More

Alrosa, Dubai trader strengthen ties

15th June 2017 / Megan van Wyngaardt     

JOHANNESBURG (miningweekly.com) - The Dubai Multi Commodities Centre (DMCC) and Russian diamond miner Alrosa have agreed to enhance diamond trade cooperation.The parties discussed options for expanding Alrosa's trading activities at the Dubai Diamond Exchange - a DMCC entity - as well as agreements on enhanced efforts to stem the flow of undeclared synthetic diamonds entering the marketplace."With...Read More

Trans Hex warns of widened losses for FY17

15th June 2017 / Megan van Wyngaardt     

JOHANNESBURG (miningweekly.com) - South African diamond miner Trans Hex Group expects to have widened its losses for the 2017 financial year.In a trading update published on Thursday, the group said it expects to report a loss a share of 173.5c for the year ended March 31, compared with a loss a share of 94.4c in the prior year.AdvertisementIt further anticipates reporting a headline loss a share...Read More

De Beers, Namibia launch world's biggest diamond exploration ship

15th June 2017 / Reuters     

LONDON - Anglo American's diamond unit De Beers on Thursday launched the world's largest diamond exploration vessel off the coast of Namibia as it looks to maintain high production levels until 2035.The 12 000 t, 113-m-long SS Nujoma was built at a cost of $157-million and is named after Sam Nujoma, Namibia's founding president.Advertisement"I am very, very confident this (vessel) will...Read More

China's Fosun spices up battle for Gemfields with 10% bid premium

Jun. 14, 2017, 3:37 AM / Cecilia Jamasmie

Actress Mila Kunis is Gemfields' brand ambassador. (Photo by Mario Sorrenti. Courtesy of Gemfields.)Emeralds and rubies miner Gemfields (LON:GEM) may become the centre of a bidding war as China's Fosun International has approached the company with an attractive offer, which comes only a month after the gems producer rejected a bid from its largest shareholder.Gemfields, which owns the luxury Faber...Read More

Stuller Inc Adding Screening Devices To Deal With Lab-Grown Diamonds

June 14, 17 / Albert Robinson

(IDEX Online) - Jewelry-maker Stuller Inc is introducing additional screening measures at its facilities to deal with the rise in undisclosed lab-grown diamonds. "The introduction and rise of lab-grown diamonds makes reliability and trust more important than ever," says Stanley Zale, vice president of diamonds and gemstones. "We started introducing more screening steps through the use of machines...Read More

De Beers To Hold First Auction For Third-Party Exceptional Polished Diamonds

June 14, 17 / Albert Robinson

(IDEX Online) - De Beers is to allow traders in exceptional polished diamonds to anonymously use its auction sales platform for the first time when it holds its exceptional polished stones auction on June 29. De Beers Auction Sales will employ its platform governance rules to facilitate transactions, ensuring they flow smoothly, and reduce counterparty risk as both buyers and sellers deal directly...Read More

Alrosa in Talks to Raise Dubai Rough Sales

Jun 14, 2017 / Rapaport News

RAPAPORT... Alrosa has agreed to work more closely with Dubai to expandthe Russian miner's business in the emirate's trading center.Recently appointed Alrosa president Sergey Ivanov and AhmedBin Sulayem, executive chairman of the Dubai Multi Commodities Centre (DMCC),discussed options for increasing the rough producer's trading activities at theDubai Diamond Exchange, a platform within the DMCC. T...Read More

Harry Winston Ring Leads Christie's London Sale

Jun 14, 2017 / Rapaport News

RAPAPORT... Christie's garnered $8.2 million (GBP 6.5 million) at itsImportant Jewels auction in London on Tuesday, as a Harry Winston emerald ringfetched $480,675.The rectangular-cut, 10.23-carat Colombian emerald wentto an anonymous buyer for $47,000 per carat - more than five times its highpre-sale estimate, Christie's said Wednesday. Separately, a cushion-shaped,50.36-carat Sri Lankan sapphire...Read More