Diamond stocks Articles

Harrods named the world's best-performing luxury department store.

May 17, 19 / Ya'akov Almor

The UK-based publication the Retail Gazette said that Harrods has been named the world's best-performing luxury department store. According to research compiled by industry analysts at GlobalData along with architects Sybarite, the 170-year-old retailer owned by the Qatari royal family is the strongest performer by sales per square foot." Harrods raked in sales of 2.1 billion pounds in t...Read More

De Beers, Namibia to spend $468m on world's first custom-built diamond searching ship

May. 16, 2019, 3:52 AM / Cecilia Jamasmie

Debmarine, a 50/50 joint venture between world's No. 1 diamond producer by value, De Beers, and the government of Namibia, will build a $468 million-diamond recovery ship, the world's first custom-made vessel of such a kind and the seventh in the company's fleet.The vessel, slated to start operations in 2022, would add about 500,000 carats per year of production capacity to Debmarine Namibia's out...Read More

Rapaport Weekly Market Comment

May 16, 2019 / Rapaport News

Rising expectations for Las Vegas shows. Good demand for0.70 to 1.99 ct., G-J, VS-SI, RapSpec A3+. Other categories weak. Large-stonedealers cautious amid high-end slowdown. Christie's Geneva garners $62M (87% bylot) as cushion, 118.05 ct., fancy yellow, VS2 diamond sells for $7.1M ($60,000/ct.). Sotheby's Geneva fetches $42M(77% by lot) with 36.57 ct., D, FL going for $5M ($137,036/ct.). Rough pr...Read More

India: Dealer Trading Quiet

May 16, 2019 / Rapaport News

Cautious mood amidrumors more businesses closing. Dealer trading quiet with many extendingtheir summer vacation due to slow orders. US and Israeli buyers in Mumbailooking for bargains before Las Vegas shows. Liquidity tight and cuttersreducing production. Rough market stable, but manufacturing profit marginstight. Jewelers concentrating on gold rather than diamonds. RoundRead More

118ct. Yellow Smashes Estimate at Christie's

May 16, 2019 / Rapaport News

RAPAPORT... A diamond bought in memory of late diamantaire Sam Abram sold for more than double its high estimate at Christie's Geneva auction Wednesday. The cushion brilliant-cut, 118.05-carat, fancy-yellow,VS2-clarity stone fetched $7.1 million, or $60,000 per carat, at theMagnificent Jewels auction. The diamond, whichwas estimated at $2.5 million to $3.5 million, was purchased by Siba Corp....Read More

'King of the Blues' Sam Abram Dies

May 16, 2019 / Rapaport News

RAPAPORT... The diamond industry lost one of its most colorful characters when Sam Abram died last week at the age of 78. Often referred to as "King of the Blues," Abram, a prominent buyer on the Sotheby's-Christie's auction circuit, was considered a pioneer in the colored-diamond market. He enjoyed an illustrious career in the diamond and gemstone trade, family members recalled."Sam was a ce...Read More

De Beers to Build $468M Diamond-Mining Ship

May 16, 2019 / Rapaport News

RAPAPORT... De Beers will increase production at Debmarine Namibia by 500,000 carats per year through the construction of a new diamond-recovery vessel, it said Thursday. The ship, the seventh in De Beers' fleet, will increase annual output from the country by 35%, and will cost $468 million to build. AngloAmerican, the miner's parent company, will contribute $234 million, and theNamibian gov...Read More

Lulo delivers another stellar diamond

16th May 2019 / Esmarie Iannucci     

PERTH (miningweekly.com) – A 130 ct gem quality diamond has been recovered from the Lulo diamond project, in Angola, owner Lucapa Diamond Company reported on Thursday.The diamond is the thirteenth stone of more than 100 ct to be recovered to date, and the second so far in 2019, Lucapa told shareholders.AdvertisementThe new 130 ct stone adds to the current inventory of high-value large Specia...Read More

Presidency slapped with hefty R29.9bn claim over Lesotho diamonds

16th May 2019 / News24Wire     

A diamond mining company has filed a R29.9-billion claim against President Cyril Ramaphosa and his government as a near three-decade-long dispute over expropriated diamond mining rights in Lesotho reaches South African courts again.Josias van Zyl, MD of Swissbourgh Diamond Mining, is arguing that South Africa is liable to pay him damages for, among other reasons, its "unconstitutional" a...Read More

Debmarine Namibia to invest $468m in its seventh diamond recovery vessel 

16th May 2019 / Simone Liedtke     

Debmarine Namibia, a joint venture between diamond miner De Beers and the Namibian government, has approved the construction of a new custom-built diamond recovery vessel, which will become the seventh such vessel in Debmarine’s fleet.The vessel, which will be built at a cost of $468-million, will start production in 2022 and is expected to add about 500 000 ct/y of production capacity to De...Read More

UAE and China to strengthen gems and jade bilateral trade

May. 15, 2019, 6:41 AM / MINING.com Staff

The Dubai Multi Commodities Centre and the China Gems and Jade Exchange signed a memorandum of understanding to create new trading opportunities between the United Arab Emirates and China.The China Gems and Jade Exchange is a national-level gemstone trading platform approved by the State Council of China.In a press release, the parties explained that the idea is to connect buyers and sellers of ge...Read More

11ct. Purple Diamond Expected to Fetch Over $10M

May 15, 2019 / Rapaport News

RAPAPORT... Hong Kong-based M&B Diamonds expects to sell a record-setting purple diamond for more than $10 million, after buying the stone from Alrosa.  The cushion modified brilliant-cut, 11.06-carat diamond isthe largest fancy-deep-purple-pink stone the Gemological Institute of America(GIA) has examined, according to the August 2018 grading report. Alrosa originally debuted the gem...Read More

US Tariff Hike Could Hit Jewelry

May 15, 2019 / Rapaport News

RAPAPORT... The US diamond and jewelry industry is facing the possibility of higher tariffs on goods from China as the trade warescalates. The Trump administration has proposed a levy of up to 25% on products from China worth a total of $300 billion, the US Trade Representative (USTR) announced on May 9. Raw materials and accessories used in the jewelry trade are among the 3,805 items on the...Read More

Storied Necklace Makes Bold Return at Sotheby's

May 15, 2019 / Rapaport News

RAPAPORT... Sotheby's brought in a total of $42 million at its Genevaauction Tuesday as an emerald and diamond necklace with royal connectionsfetched $3.6 million. The Van Cleef & Arpels Art Deco piece, which includesdiamonds, as well as 11 cabochon Colombian emeralds with a total weight of morethan 75 carats, went for more than double the price it achieved when it wasfirst sold at auctio...Read More

ABN AMRO published report on first quarter 2019

May 15, 19 / Staff Writer

ABN AMRO published its report with the bank's results for the first quarter of 2019. The report makes no mention whatsoever about the diamond, gem and jewelry sector. Following is an excerpt from the message by Kees van Dijkhuizen, CEO of ABN AMRO Group: ""We are building a future-proof bank through continued Innovation & Technology (I&T) improvements supported by product and process rat...Read More

Israel diamond trade is preparing for Las Vegas.

May 15, 19 / Staff Writer

Israel's diamond trade is preparing for the Las Vegas shows, the most important group of shows for the gems and jewelry trade in the United States. Dozens of Israeli diamond companies have been planning for this event for months and are looking forward to a very good show. The United States is the Israeli Diamond Industry's largest market for polished stones, accounting for close to half...Read More

Petra sells 'Legacy of the Cullinan Diamond Mine' to Belgian firm

May 15, 19 / Staff Writer

Petra Diamonds announced it sold its 424.89-carat 'Legacy of the Cullinan Diamond Mine' to Stargems Group / Choron of Belgium,  for just under $15 million. This exceptional D color Type IIa gem mined from the Cullinan C-Cut adds to the most famous diamonds to have originated from this historic mine. Commenting on the sale, Petra's CEO, Richard Duffy, said: "This is a significan...Read More

DMCC forms strategic alliance with China Gems and Jade Exchange

May 15, 19 / Staff Writer

DMCC, the world's leading Free Zone for commodities trade and enterprise signed a Memorandum of Understanding with the China Gems and Jade Exchange (CGJE), creating a strategic alliance with China's official trading platform for gemstones and jade. Feryal Ahmadi, Chief Operating Officer, DMCC, and Mr. Yuk Chan, Co-Founder and Executive Vice President, CGJE, signed the agreement during a...Read More

In 2018, Italian jewelry production and turnover grow, but exports decline

May 15, 19 / Staff Writer

Club Degli Orafi and the Studies and Research Department of Intesa San Paolo reported that for the Italian jewelry manufacturing industry and trade, 2018 had been a disappointing year. Once the undisputed leader in high-end jewelry design and manufacturing. Italy is struggling in a highly competitive sector. Jewelry design and production giants such Turkey and Thailand continue to challenge Italy'...Read More

Jewelry giant to join discussion on circular fashion at Copenhagen Fashion Summit

May 15, 19 / Staff Writer

Stephen Fairchild, Chief Creative and Brand Officer will take the stage at this year's prestigious Copenhagen Fashion Summit to debate how circular design can create fundamental change in the industry. Fashion designers hold the power to create items that consumers fall in love with, but they also have the opportunity to make the industry more sustainable. At this year's Copenhagen Fash...Read More