Diamond stocks Articles

Ex-Pandora Worker Exposes Two-Timing Customer

May 27, 21 / Staff reporter

(IDEX Online) - A former Pandora worker says she's exposed a cheating customer who bought one ring for his girlfriend ... and another for his "sidepiece".The video, posted on TikTok, has attracted 2.6m views in 10 days.Eli from Montreal, Canada, says the customer came clean and explained who the rings were for when she asked if he wanted one receipt or two for the $45 and $50 silver and cubic...Read More

Belgium Polished Exports Rebound

May 27, 2021 / Rapaport News

RAPAPORT... Belgium's polished-diamond exports more than quadrupled year on year to $566 million in April, reflecting the comparison with the peak of the 2020 coronavirus crisis, according to data the Antwerp World Diamond Centre (AWDC) released this week. Shipments were down versus March, however, as trading returned to more normal levels following a release of pent-up demand earlier in the...Read More

Fugitive Jeweler Choksi Arrested in Caribbean

May 27, 2021 / Rapaport News

RAPAPORT... Jeweler Mehul Choksi will likely be repatriated to India following his capture in Dominica, an island nation in the Caribbean, Reuters reported.Choksi's arrest comes two years after his nephew, Nirav Modi, was apprehended by the Metropolitan Police in the UK on behalf of the Indian authorities.The two fugitives, along with others, are alleged to have defrauded India's Punjab Natio...Read More

Sarine Partners with Cutting Firm on Lab-Grown

May 26, 2021 / Rapaport News

RAPAPORT... Sarine Technologies has entered into a collaboration with diamond-industry consultancy Constell Group that will focus on improving efficiency for the lab-grown supply chain."The application of Sarine's advanced technological solutions to many of the currently manual processes will increase the realized value significantly, and we are fully committed to bringing this evolution to t...Read More

Rapaport Webinar: Five Steps Toward Recovery

May 26, 2021 / Rapaport News

RAPAPORT... The diamond industry is emerging from the Covid-19 crisis, says Rapaport Senior Analyst Avi Krawitz, who has identified five trends shaping the market in 2021. Polished diamond prices rose 1.7% in the first quarter and the momentum continued through April and May, Krawitz noted in the quarterly Diamond Trends Webinar that broadcast on May 12 and 13. The increases were driven by the ret...Read More

Merlin Purchase to put Australia Back on Diamond Map

May 26, 21 / John Jeffay

(IDEX Online) - Australia is set to become a diamond-mining nation again, with the planned resurrection of the Merlin mine, in a remote part of Northern Territory.Lucapa, which also has interests in Angola and Lesotho, agreed to buy the deposit for $6.6m and hopes to have it operational within two years.Merlin produced Australia's largest ever rough diamond  -  104-carat type IIa -...Read More

Football Legend Sells Patek Philippe Watch for Charity

May 26, 21 / John Jeffay

(IDEX Online) - Italian football legend Fabio Cannavaro is auctioning his extremely rare Patek Philippe watch - and donating the proceeds to help at-risk youth in his hometown of Naples.The pink gold timepiece, reference 5208R, is estimated to fetch $705,000 to $962,000 at the Hong Kong Watch Auction XII, to be held jointly by Phillips and Bacs & Russo.Only 10 such watches are produced annuall...Read More

Christie's Unveils Vintage Selection for Paris Sale

May 25, 2021 / Rapaport News

RAPAPORT... A necklace made in 1925 by Jean Fouquet will be the flagship item in a selection of vintage jewelry at an online sale by the French unit at Christie's.This piece is expected to fetch up to EUR 450,000 ($551,254) at the June 21 to July 5 sale, which will offer a range of 19th to early 20th century jewelry. The white gold and silver necklace is an example of jewelry influenced by th...Read More

IGI Debuts Training Courses in Egypt

May 25, 2021 / Rapaport News

RAPAPORT... The International Gemological Institute (IGI) has begun offering education services in Egypt, expanding its footprint from its current eight facilities.The institute offers training courses that cover fundamental jewelry topics such as raw-diamond classification and jewelry design, it said Monday. IGI also provides trainees the option of becoming certified specialists in precious...Read More

Stuller Appoints Head of Gemological Lab

May 25, 2021 / Rapaport News

RAPAPORT... Stuller, a provider of goods and services for jewelry professionals, has named Guy Borenstein as its senior gemologist.Borenstein has 15 years of gemology experience under his belt, including stints as vice president of gemological services at Gemewizard, and as chief gemologist at the European Gemological Center and at GWLAB laboratories, an independent chain of labs."Guy is a wo...Read More

Lucapa to Buy Merlin Diamonds in Australia

May 25, 2021 / Rapaport News

RAPAPORT... Lucapa Diamond Company has agreed to acquire the Merlin diamond project in Australia for AUD 23 million ($17.8 million), planning to fund the deal with private and public sales of its shares.The acquisition agreement with Merlin Operations complements Lucapa's existing portfolio, the miner said Monday. "This is a strategic acquisition which represents a value-accretive and lo...Read More

Wanted Diamantaire Mehul Choksi Disappears on Caribbean Island

May 25, 21 / John Jeffay

(IDEX Online) - Mehul Choksi, the Indian diamantaire facing extradition over an alleged $1.85bn fraud against the Punjab National Bank (PNB) has gone missing on Antigua.Family members are "worried and anxious", says his lawyer, after his car was found - with no sign of him - on the Caribbean island where he currently has citizenship.  He was last seen at 5.15pm local time on Sunday 23 May.The...Read More

India's First Carbon-Neutral Diamond Manufacturer

May 25, 21 / Staff reporter

(IDEX Online) - Diamond manufacturer Shairu Gems says it has become first in India to achieve carbon-neutral status.The Mumbai-based company has been financing emission reduction programs to offset its own carbon emissions.In 2014 the company won international recognition for building the world's first energy-efficient diamond factory (pictured), in Surat.Shairu, a De Beers sight holder with...Read More

Auction Record: Pink Diamond Fetches $29m

May 25, 21 / John Jeffay

(IDEX Online) - The largest purple-pink diamond ever offered at auction sold yesterday for $29.3m, a record high price but far short of its $38m high estimate.The 15.81-carat type IIa IF diamond (pictured) was named the Sakura Diamond because it perfectly matches the petals of the Sakura cherry blossom.It was the highlight of a Christie's Hong Kong live auction.The previous auction record for...Read More

Lucapa to Buy Australia's Merlin Mine

May 25, 2021 / Rapaport News

RAPAPORT... Lucapa Diamond Company has agreed to acquire the Merlin diamond project in Australia for AUD 8.5 million ($6.6 million), planning to fund the deal with private and public sales of its shares.The acquisition agreement with Merlin Operations complements Lucapa's existing portfolio, the miner said Monday. "This is a strategic acquisition which represents a value-accretive and lo...Read More

India Exports Hit Two-Year High

May 24, 2021 / Rapaport News

RAPAPORT... India's polished-diamond exports reached their highest level in more than two years as manufacturers rushed to meet retail demand. April shipments came to $2.25 billion, compared with $35 million during the onset of the coronavirus pandemic a year earlier. The total was also 37% higher than the same period of 2019, according to recent data from the country's Gem & Jewellery Ex...Read More

Watches of Switzerland Sales Soar

May 24, 2021 / Rapaport News

RAPAPORT... Watches of Switzerland reported strong sales growth in its fiscal fourth quarter, reflecting both the boost from e-commerce in the UK and an easing of restrictions in the US.Group revenue surged 76% year over year to GBP 218.2 million ($308.9 million) over the 14 weeks ending May 2, the UK-based company said last week. Relative to the fourth quarter of 2019, which excludes the eff...Read More

Christie's Sells Pink Diamond for Record $29M

May 24, 2021 / Rapaport News

RAPAPORT... The Sakura ring was the star at Christie's Hong Kong, setting a world-record auction price for a purple-pink diamond.The cushion-cut, 15.81-carat, fancy-vivid, internally flawless stone sold within its estimate for $29.3 million, or $1.9 million per carat, at the May 23 Magnificent Jewels auction, Christie's said Sunday. The piece, purchased by a private Asian buyer, was also the most...Read More

Buried Treasure: Russian Police Dig up Gems from 2018 Heist

May 24, 21 / Staff reporter

(IDEX Online) - Police have unearthed the contents of a suitcase containing $2.1m of diamonds and jewelry stolen from a Russian trade fair in July 2018.Colombian national Edgar Alejandro Valero led officers to the treasure, buried in woodland, in the Republic of Tatarstan, in Russia's Volga Federal District last week. He was arrested in Argentina in September 2019 and extradited to Russi...Read More

Alrosa Steps up Diamond Exploration in Zimbabwe

May 24, 21 / John Jeffay

(IDEX Online) - Alrosa is to widen its diamond exploration program in Zimbabwe. It has increased its stake from 25 to 35 the number of diamond prospecting special grants it holds in the country.The Russian state-owned miner announced a joint venture in December 2019 with the Zimbabwe Consolidated Diamond Company (ZCDC) to jointly explore for gems. Alrosa holds 70 per cent, ZCDC holds 30 per c...Read More