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Profits Tight Amid Slow Diamond Trading

April 02, 2019 / www.diamonds.net

RAPAPORT PRESS RELEASE, April 2, 2019, Las Vegas ... Diamond market sentiment was soft in March, after the Hong Kong and Basel shows failed to boost trading in a significant way. The first quarter was weaker than last year's, with cautious retail inventory replacement after the holiday season. The RapNet Diamond Index (RAPI?,,?) for 1-carat diamonds slid 0.2% in March, while RAPI for 0.30-carat fe...Read More

JCPenney to close 27 stores in 2019

April 02, 2019 / www.idexonline.com

The American department store JCPenney is struggling to overcome its financial and organizational troubles and is closing 27 of its 860 stores in 2019. In an interview published by TODAY Style, the department store's spokesperson, Carter C. English said: "As part of a standard annual review, the decision was made to close 18 stores across the country, including the three previously announced...Read More

BlueRock reports 12% first-quarter production increase

April 02, 2019 / www.miningweekly.com

Aim-listed BlueRock Diamonds on Tuesday reported a 12% year-on-year increase in mined tonnage at its Kareevlei mine, in Kimberley, to 42 409 t for the first quarter of this year.This was achieved despite a temporary eight-day suspension in mining operations in February.AdvertisementThe diamond producer sold 1 847 ct of diamonds in the first quarter – an 18% year-on-year increase.A...Read More

U.S. retail sales unexpectedly fall in February

April 02, 2019 / www.idexonline.com

Reuters reported that the US Commerce Department said that in February, retail sales had dropped 0.2 percent, instead of the 0.3 rise forecasted. The department said that households cutting back on purchases of furniture, clothing, food and electronics and appliances, as well as building materials and gardening equipment were the chief reason for the decline. On the other hand, the Commerce Depart...Read More

Lucapa finds 55ct diamond at Mothae

April 02, 2019 / www.miningweekly.com

PERTH (miningweekly.com) – Africa-focused Lucapa Diamond Company has recovered its fifth diamond larger than 50 ct from the Mothae operation, in Lesotho, since commercial production started in January.The recovery of the top-colour 55 ct stone was recovered only shortly after the recovery of a 128 ct diamond from Lucapa’s Lulo alluvial operation, in Angola, earlier this year.Advertisem...Read More

Alrosa's diamond auction in New York generates $11.8 million

April 02, 2019 / www.idexonline.com

Alrosa, the Russian diamond miner, held its first rough diamond auction in New York this year, selling stones of 10.8 carat and up. The total revenue from the auction amounted to $11.8 million. The company sold 107 stones at a total weight of 1,900 carats. Over 30 firms from the chief diamond trading hubs, such as the USA, Israel, Belgium, India and the UAEm, participated in the auction. "We held...Read More

With new CEO on board at Pandora, COO resigns position

April 02, 2019 / www.idexonline.com

Following long months without a captain at the helm, the giant fashion jewelry company Pandora hopes to see the newly appointed President and CEO, Alexander Lacik steer the ship into more profitable lanes. But this week, the company announced that its Chief Operating Officer, Jeremy Schwartz, had announced his immediate resignation. The year 2018 was an awful year for Pandora. The sto...Read More

American Gem Laboratories celebrates its first centennial.

April 02, 2019 / www.idexonline.com

On April 1, American Gemological Laboratories celebrated its tenth anniversary under Christopher Smith's management. When he stepped into the shoes of Cap Beasly in 2009, he had a team of six gemologists and a lab in dire need of new clients. "We are now a team of thirteen,' Smith said. "It is a matter of great pride to see the company growing, embracing a good value system and achieving more...Read More

Eurostar is declared bankrupt

April 02, 2019 / www.idexonline.com

Eurostar Diamond Traders, one of the largest diamond companies in Antwerp - and in the world - is bankrupt, the Dutch-language daily De Tijd reported. According to reports, the company has outstanding debts of more than $500 million. Founded in 1978, its principal, Kaushik Mehta, built Eurostar into a giant, global corporation. The company expanded worldwide, setting up offices in Botswana, China...Read More