Diamond stocks Articles

De Beers diamond sales up 1.5%

Jun. 20, 2017, 10:45 AM / De Beers

De Beers Group today announced the value of rough diamond sales (Global Sightholder Sales and Auction Sales) for the fifth sales cycle of 2017.Cycle 5 2017 (provisional)1Cycle 4 2017 (actual)2Cycle 5 2016 (actual)Sales value3 ($m) 530522564Notes to this table are shown at the bottom of this page.Bruce Cleaver, CEO, De Beers Group, said: "Following positive feedback from the Las Vegas trade show, a...Read More

China's Fosun sweetens offer for Gemfields

Jun. 20, 2017, 6:34 AM / Cecilia Jamasmie

Emeralds and rubies miner Gemfields (LON:GEM) is encouraging its minority shareholders to accept an improved takeover bid from China's Fosun International, despite considering it unfair, to avoid being bought-up by its largest shareholder.The London-listed miner told investors Tuesday that while the terms of Fosun's proposal are "not fair or reasonable," the offer from South African private equity...Read More

Alrosa finds 62.75-carat diamond at prolific Jubilee pipe

Jun. 20, 2017, 3:31 AM / Cecilia Jamasmie

Russia's Alrosa (MCX:ALRS), the world's top diamond producer by output, said Tuesday it found a 65.75-carat precious rock at the Jubilee kimberlite pipe of its Aikhalsky Mining unit in Yakutia, northeast Russia.The transparent crystal, the miner said, has an octahedron-shape, light-yellowish tint and its measures 23 x 16 x 17 mm.Alrosa's Jubilee pipe is famous for its large finds. A few diamonds f...Read More

Gemfields Reluctantly Bows to Fosun Takeover Bid

Jun 20, 2017 / Rapaport News

RAPAPORT... Gemfields' management has recommended shareholders accept a $323.8 million (GBP 256million) takeover offer from China's Fosun Gold, describing it as a betteroption than an earlier proposal by Pallinghurst Resources.Gemfields' independent committee still considers the Fosunoffer to be unfair and unreasonable, but finds it more attractive than thePallinghurst bid, which offered investors...Read More

Millennials Prefer Offline Shopping

Jun 20, 2017 / Rapaport News

RAPAPORT... More than half of millennials make most of theirpurchases in physical stores, but young consumers are browsing the internet forinformation before closing the deal, according to a new survey.Some 53% of the generation shops mainly offline,according to the Millennial Shopping Report Summer 2017 by CouponFollow, awebsite that provides online coupon codes to consumers. The survey, which ca...Read More

Crown of Light' Brand Hits $100M Milestone

Jun 20, 2017 / Rapaport News

RAPAPORT... Sales of "Crown of Light" diamonds exceeded $100 million in 2016, hitting the milestone 10 years after brand owner Almod Diamonds launched its manufacturing operations, the company reported Monday.The 90-facet patented cut is one of the fastest-growingdiamond brands in the world, according to Almod, a New York-based affiliate ofretailer Diamonds International. The company cuts and poli...Read More

Rough Prices Firm at $530M De Beers Sight

Jun 20, 2017 / Joshua Freedman

RAPAPORT... De Beers sold $530 million worth of rough diamonds in June as sightholders continued to complain of shrinking manufacturing marginsand a mismatch between rough and polished prices.The miner lifted prices by an estimated 2% to 3% in certaincategories, sightholders told Rapaport News. Higher rough prices withouta corresponding increase in polished demand could lead to diminished profitsf...Read More

De Beers' 5th Sight of 2017 Shows Demand Remains Robust

June 20, 17 / Albert Robinson

(IDEX Online) - De Beers sold rough diamonds with a provisional value of $530 million in the fifth sales cycle (Global Sightholder Sales and Auction Sales) of 2017, indicating ongoing strong demand from the global industry. De Beers' sales in the third cycle were $564 million and $522 million in the fourth cycle of this year. The latest figure compares with $564 million in the year-earlie...Read More

Latest sales cycle earns De Beers $530m

20th June 2017 / Megan van Wyngaardt     

JOHANNESBURG (miningweekly.com) - Diamond miner De Beers' fifth sales cycle for the year generated revenue of $530-million.While this was up from the $522-million of diamonds sold in the fourth sales cycle, sales were lower than the $546-million earned in the fifth cycle in 2016.AdvertisementNevertheless, De Beers CEO Bruce Cleaver said De Beers had seen continued good demand for its rough diamond...Read More

Israel Diamond Exchange Opens Diamond Tech Innovation Center

June 20, 17 / Albert Robinson

(IDEX Online) - The Israel Diamond Exchange (IDE) has opened a Diamond Tech Innovation Center - a technological incubator for Israeli and international diamond-related start-ups. Diamond Tech will provide a home and financial support for start-ups that are in the initial stages of development. Through this initiative IDE plans to promote new technologies for diamonds in the broadest sense, reach...Read More

Lucapa's Fifth Sale Of Alluvial Diamonds From Lulo In Angola Raises $1M

June 20, 17 / Albert Robinson

(IDEX Online) - Lucapa Diamond Company Limited and its partners have completed the fifth sale for 2017 of alluvial diamonds from the Lulo diamond project in Angola, with 1,236 carats sold for $950,000. The sale represented an average price per carat of $770, the miner reported. The sale brought gross proceeds from Lulo diamond sales to date in 2017 to $15.4 million at an average price per cara...Read More

GIA To Demonstrate GIA iD100 Gem Testing Device At June Hong Kong Fair

June 20, 17 / Albert Robinson

(IDEX Online) - The GIA will demonstrate and take pre-orders for its new iD100 testing device at the June 22-25 Hong Kong Jewellery & Gem Fair following what it said was a successful debut of the instrument at the JCK Las Vegas show in early June. The Institute will also present GIA M2M, a service and digital platform that gives consumers a new way to learn their diamonds' history. GIA will p...Read More

Fosun Gold Makes $325 Million Offer For Gemstone Miner Gemfields

June 20, 17 / Albert Robinson

(IDEX Online) - Fosun Gold Holdings Limited has made a cash offer of 256 million ($325 million) for gemstone miner Gemfields plc. Fosun Gold is a subsidiary of Fosun International Limited. The Fosun offer will be 45 pence in cash for each Gemfields share, which is a premium of 18 percent to Gemfields' share price of 38.13 pence at the close of business on 18 May, the last business day befo...Read More

IGI holds 7th National Buyer-Seller Knowledge Meet in India

June 20, 17 / Albert Robinson

(IDEX Online) - The International Gemological Institute (IGI) hosted its 7th National Buyer-Seller Knowledge Meet, which brought together Indian jewelry craftsmen and jewelers in Goa. Over the years, the event has enabled more than 2,000 meetings between participating manufacturers and buyers, the IGI said. "This was the D-show's 7th year and it has blossomed into a true networking platform f...Read More

Mining Charter set to worsen stakeholder relations - Bench Marks

20th June 2017 / Martin Creamer     

JOHANNESBURG (miningweekly.com) - The new Mining Charter is the flawed outcome of inadequate consultation with communities, the board of the Bench Marks Foundation said on Tuesday, when it warned that the document is poised to worsen stakeholder relations. Bench Marks executive director John Capel condemned the new charter as a weakened piece of legislation that would result in more protest action...Read More

Israel Bourse Starts Up Innovation Hub

Jun 19, 2017 / Rapaport News

RAPAPORT... The Israel Diamond Exchange (IDE) is opening a technologyincubator, providing both space and financial support for start-up companies inthe diamond industry, the bourse said Monday.Known as the Diamond Tech Innovation Center, the hub willenable the IDE to promote new technologies for diamonds beyond gems andjewelry, including their use in industry, robotics, semiconductors and othersec...Read More

Wet Season Keeps Lulo Prices Below Average

Jun 19, 2017 / Rapaport News

RAPAPORT... Lucapa Diamond Company garnered $950,000 (AUD 1.25 million) ina sale of rough diamonds from its Lulo alluvial mining project in Angola.The company's fifth sale of the year fetched $770 per caratfor the 1,236 carats on offer, Lucapa said Monday. While this sale's average price was higher than lastmonth's, which came to $695 per carat, it was still lower than in previousmonths. Total pro...Read More

Gemfields Sets $55M Auction Record

Jun 19, 2017 / Rapaport News

RAPAPORT... Gemfields recorded its highest auction total as it sold$54.8 million worth of rubies and corundum in Singapore last week.The sale fetched an average of $61 per carat for895,848 carats, out of just over 1 million carats that were on offer, theminer said. The event sold 85% by volume and 98% by value. The revenue figure is 24% higher than Gemfields' previousauction record of $44.3 millio...Read More

India's Polished Trade Improves in May

Jun 19, 2017 / Rapaport News

RAPAPORT... India's polished diamond exports grew 3.7% to $2.05 billionin May, according to data that the nation's Gem & Jewellery ExportPromotion Council (GJEPC) released recently.By volume, polished exports jumped 12% year on year to 3.4million carats, with the average price declining 8% to $609 per carat. Polished imports fell 1.8% to $244.5 million, leaving netpolished exports 4.5% higher at $...Read More

Sarine Profile Reports Being Launched in Thai Market

June 19, 17 / Albert Robinson

Technology company Sarine said its Sarine Profile light performance reports are being provided for the first time in Thailand by Aurora Design Co., Ltd. Headquartered in the center of Bangkok, Aurora Group has had an established presence for more than four decades in Thailand, with over 200 retail stores nationwide. A subsidiary of Aurora Design Co., Ltd., Aurora Diamond will provide comprehens...Read More