RAPAPORT... A jeweler in Idaho has sued Zales, claiming the retailerused its name in online advertisements to redirect customers to zales.com.During the November 2016 Black Friday season, Googlesearches for Jensen Jewelers returned a paid result at the top of the list thatshowed Jensen's name, followed by a promotion and the address "zales.com,"Jensen alleged in court documents. The Google AdWords...Read More
CAPE TOWN (miningweekly.com) – There is a new sense of hope in the mining industry and in South Africa, says Chamber of Mines (CoM) CEO Roger Baxter.“It gives us a new confidence that a resurgence is taking place in the industry for the year ahead,” said Baxter, who spoke at a media briefing at the Investing in African Mining Indaba, on Monday.AdvertisementBaxter enthused that, &...Read More
(IDEX Online) - WD Lab Grown Diamonds announced that it has created a six-carat round diamond "that now stands as the world's only known lab- made CVD diamond of its size and shape" using its patented technology. The gem stone was grown at the company's facility located just outside Washington, DC in a secure lab that produces diamonds for the gem stone market as well as industria...Read More
(IDEX Online) - The Indian diamond industry will have to adjust to higher taxes after the government announced a rise in import taxes on polished diamonds to 5% from 2.5%. The announcement was made by Finance Minister Arun Jaitley during his budget speech to Parliament at the end of last week. The tax will be applicable on natural and laboratory-grown polished diamonds, as well as co...Read More
VANCOUVER (miningweekly.com) – Takeover target Kennady Diamonds has started work on a 10 500 m 2018 winter drilling campaign at the Kennady North diamond project, in Canada's Northwest Territories.Subject to a friendly C$176-million takeover offer by TSX- and Nasdaq-listed diamond producer Mountain Province Diamonds that was announced last week, the diamond drilling is expected to...Read More
RAPAPORT... Fancy color diamond prices were flat in 2017, signaling someweakness in pink and yellow diamonds during the year, according to the FancyColor Research Foundation (FCRF). The overall index for fancy color diamonds edged up 0.1%,with fancy pink diamonds declining 0.8% and yellows down 1.8%, the organizationsaid. Fancy blue diamonds continued to outperform with their index, rising 5.9%dur...Read More
RAPAPORT... Bonhams has appointed Tim Bourne (pictured) as international directorof watches for Asia, where he will begin work at the end of February, the auctionhouse said last week. Bourne's "trackrecord of success and proven business acumen will help us establish and buildour presence among watch collectors in southeast Asia and the Far East," said Matthew Girling, global CEO for Bo...Read More
RAPAPORT... Sales of jewelry and other luxury goods grew in both HongKong and China last year amid improved consumer sentiment. In Hong Kong, full-year sales of jewelry, watches, clocksand valuable gifts rose 5%, reaching $9.6 billion (HKD 75.05billion), the municipality's Census and Statistics Department reported last week. In mainland China,meanwhile, gold, silver and jewelry sales grew 6%...Read More
RAPAPORT... Improved production of large diamonds at the high-value Let??engmine in Lesotho drove an increase in Gem Diamonds' sales in 2017. Sales jumped 12% to $206.8 million for the year, the minersaid Friday. While the overall sales volume slipped 2% to 107,152 carats,higher recoveries of large diamonds fueled a 14% rise in the average price to$1,930 per carat. The company, which ow...Read More
RAPAPORT... The Indian government has increased import taxes on polisheddiamonds to 5%, prompting criticism from the Gem & Jewellery ExportPromotion Council (GJEPC). The levy applies to cut and polished diamonds, both natural andlaboratory grown, and to colored gemstones, Finance Minister Arun Jaitley saidin a budget speech Thursday. The new rate - up from 2.5% - is one of severalchanges to cu...Read More
RAPAPORT... Sales of jewelry and other luxury goods grew in both HongKong and China last year amid improved consumer sentiment. In Hong Kong, full-year sales of jewelry, watches, clocksand valuable gifts rose 5%, reaching $9.6 billion (HKD 75.05billion), the municipality's Census and Statistics Department reported last week. In mainland China,meanwhile, gold, silver and jewelry sales grew 6%...Read More
RAPAPORT... Improved production of large diamonds at the high-value Let??engmine in Lesotho drove an increase in Gem Diamonds' sales in 2017. Sales jumped 12% to $206.8 million for the year, the minersaid Friday. While the overall sales volume slipped 2% to 107,152 carats,higher recoveries of large diamonds fueled a 14% rise in the average price to$1,930 per carat. The company, which ow...Read More
RAPAPORT... Bonhams has appointed Tim Bourne (pictured) as international directorof watches for Asia, where he will begin work at the end of February, the auctionhouse said last week. Bourne's "trackrecord of success and proven business acumen will help us establish and buildour presence among watch collectors in southeast Asia and the Far East," said Matthew Girling, global CEO for Bo...Read More
RAPAPORT... The Indian government has increased import taxes on polisheddiamonds to 5%, prompting criticism from the Gem & Jewellery ExportPromotion Council (GJEPC). The levy applies to cut and polished diamonds, both natural andlaboratory-grown, and to colored gemstones, Finance Minister Arun Jaitley saidin a budget speech Thursday. The new rate - up from 2.5% - is one of severalchanges to cu...Read More
Lucapa Diamond Company Limited (ASX: LOM) ("Lucapa" or "the Company") and its partners, Empresa Nacional de Diamantes E.P. ("Endiama") and Rosas & Petalas, have completed the first sale for 2018 of alluvial diamonds from the Lulo Diamond Project in Angola.The sale of 4,170 carats of Lulo diamonds achieved gross proceeds of US$9.14 million (A$11.43 million), representing an exceptional average pri...Read More
1 February 2018Rio Tinto and The Perth Mint are delighted to unveil the first pav?(C) set Argyle pink diamond gold coin.Known as The Jewelled Phoenix, the coin is adorned with a delicately sculptured 18ct pink gold Chinese phoenix, hand set with a total of 1.22 carats of rare pink diamonds from Rio Tinto's Argyle diamond mine in the east Kimberley region of Western Australia.Perth Mint chief execu...Read More
Mining and metal companies are rediscovering the downside of rallying prices: higher costs.A sharp rebound in commodity markets in the past two years put producers in a profitability sweet spot after years of cost-cutting to cope with low prices. Now, as the upturn matures and the higher cost of energy and other materials starts to bite, some companies are beginning to struggle to maintain margins...Read More
Shares in Africa-focused Gem Diamonds (LON:GEMD) got a fresh boost on Friday after the miner said sales in the fourth quarter of 2017 were higher than in the previous three months, adding it also achieved better prices for its gems.The company, which last month found the world's fifth-biggest diamond in history at its flagship Let??eng mine in Lesotho, sold 31,476 carats during the three month...Read More
JOHANNESBURG (miningweekly.com) - Aim-listed diamond mining company BlueRock Diamonds says it has received notice that its former CEO Riaan Visser, and certain companies controlled by him, intend to apply to place the company's operating Kimberley-based subsidiary, Kareevlei Mining, in provisional liquidation. The company has taken legal advice and is of the view that, based on currently...Read More
JOHANNESBURG (miningweekly.com) - ASX-listed Lucapa Diamond Company and its partners Empresa Nacional de Diamantes and Rosas & Petalas have completed the first sale for 2018 from the Lulo diamond project in Angola, for this year.The sale of 4 170 ct of Lulo diamonds achieved proceeds of $9.14-million, representing an exceptional average price of $2 192/ct.AdvertisementThe latest sale takes tot...Read More