(IDEX Online) - Tech firm Sarine is to provide "birth certificates" which track the provenance of rough stones being sold by Lucara.The online document, which includes scanned 3D model data, will follow the individual diamond through the cutting and polishing process, and ultimately to the consumer via its Sarine Diamond Journey software.Israel-based Sarine is building on an 18-month partnership w...Read More
RAPAPORT... Patrick S?(C)vigny will take over management of Stornoway Diamonds following the exit of CEO Patrick Godin amid the company's efforts to streamline its executive team.S?(C)vigny will lead the company as chief operating officer, Stornoway said last week. Godin, who has stepped down from his role, joined the Canadian miner in 2010 as chief operating officer and was named CEO in 2018.Mean...Read More
RAPAPORT... Petra Diamonds plans to sell the company as it struggles with mounting debt.The company owns the Cullinan, Finsch and Koffiefontein mines in South Africa. It also operates the Williamson deposit in Tanzania, which is currently on care and maintenance until rough prices in the diamond market improve.The miner will offer the business as a whole, and will also consider offers for parts of...Read More
RAPAPORT... The Israel Diamond Manufacturers Association (ISDMA) has elected Nissim Zuaretz, founder of D.N. Diamonds, as its president.He will serve a three-year term, succeeding Kobi Korn, who had held the position since 2014, Zuaretz told Rapaport News Sunday. The new president will appoint additional officers in the coming week, he added.The ISDMA represents roughly 200 manufacturers in I...Read More
RAPAPORT... Sarine Technologies has expanded its collaboration with Lucara Diamond Corp. to include provenance traceability for all diamonds listed on the miner's rough-sales platform.Clara, which enables customers to obtain individual rough diamonds with the exact specifications they require, will now provide information on the source mine for each stone, as well as scanned 3D model data through...Read More
RAPAPORT... Gem Diamonds has recovered a 163-carat, type I yellow diamond at its Let??eng mine in Lesotho, the third over 100 carats the company has found this year.The unbroken stone, which the miner unearthed on Wednesday, follows the retrieval of a 114-carat, "high-quality," D-color diamond in March, and a 183-carat, type IIa, "exceptional" stone in February.In May, following the coronavirus lo...Read More
(IDEX Online) - An African farmer has become an overnight millionaire after unearthing two huge slabs of Tanzanite, one of the world's rarest gemstones. Saniniu Laizer, 52, mined the stones, weighing approximately 20lb and 11lb, last week, and has now sold them to Tanzania's minerals ministry for $3.4m.Tiffany & Co first marketed the green, red, purple and blue stone in 1968 und...Read More
RAPAPORT... Alrosa has suspended operations at its International underground mine for up to two weeks after "several" employees tested positive for coronavirus.The Russian miner will only carry out work to ensure the safety and maintenance of the site, it said Thursday.Workers and contractors will receive compensation in accordance with labor laws."The company has developed several scenarios...Read More
RAPAPORT... The Plumb Club, a trade organization connecting US jewelry suppliers, has shaken up its board and executive committee following an online meeting.Members elected Kristie Nicolosi, CEO of the Kingswood Company, to the board of directors, the Plumb Club said Wednesday. She has previously served as a national board member and treasurer of the Women's Jewelry Association and as a board mem...Read More
(IDEX Online) - Alrosa has halted operations at its International underground mine after several workers tested positive for COVID-19.The mine, also known as Inter (pictured), close to the town of Mirny, in the subarctic Russian republic of Sakha, will remain closed for up to two weeks.It opened in 1999 and yields some of the world's highest diamond grades, at 8.09 carats per ton.The workers...Read More
RAPAPORT... Belgium's diamond trade continued to decline in May, but at a gentler pace that in the previous month as global markets gradually reopened. Total imports and exports of rough and polished stones fell 81% year on year, compared with an 89% slump in April, according to data from the Antwerp World Diamond Centre (AWDC).While the coronavirus still impacted the sector, the improvement...Read More
Market uncertainty continues as Covid-19 cases rise again. Polished trading limited, but increase in online searches indicates efforts to fill specific orders. Major jewelers investing in e-commerce to stimulate multichannel sales and ease inventory requirements. Chow Tai Fook sees recovery in mainland China and plans 2020 expansion in lower-tier cities. Manufacturers operating at reduced capacity...Read More
RAPAPORT... The Gemological Institute of America (GIA) will reopen its New York grading laboratory this Monday following a three-month shutdown due to the coronavirus."As restrictions are lifted and the global gem and jewelry industry begins to recover, we are safely reopening GIA locations, returning staff to work and preparing to engage in our mission-driven activities," GIA CEO Susan Jacqu...Read More
RAPAPORT... Gem Diamonds has recovered a 163-carat, type I yellow diamond at its Let??eng mine in Lesotho, the third over 100 carats the company has found this year.The unbroken stone, which the miner unearthed on Wednesday, follows the retrieval of a 114-carat, "high-quality," D-color diamond in March, and a 183-carat, type IIa, "exceptional" stone in February.In May, following the coronavirus lo...Read More
RAPAPORT... A 3.01-carat, fancy-vivid-blue diamond ring, carrying a high estimate of $6.3 million was among a number of headline items that failed to find buyers at Sotheby's Geneva auction.Sotheby's withdrew the stone from Tuesday's Magnificent Jewels and Noble Jewels Part II at the request of the consigner, it told Rapaport News Wednesday. The sale, which achieved a total of $12.4 million, was t...Read More
(IDEX Online) - A diamond worker reportedly jumped to his death from a sixth-floor window at the Bharat Diamond Bourse, in Mumbai, India, on his first day back after lockdown. He's been named by local media as Jay Lakhiya, aged 20.He'd arrived from his home in Surat to resume work at the bourse, in the Bandra Kurla Complex (pictured) on Tuesday.Police investigating the death say he...Read More
RAPAPORT... An Israeli diamond cutter with 45 years of experience in the trade turned to a surprising source of income when his business floundered due to Covid-19: driving a garbage truck.The story of Atzmon Breitbart might sound more worrying than inspiring. But the 66-year-old says he made the move mainly to avoid sitting idle - and prays he'll be able to return to diamonds when the pandemic is...Read More
RAPAPORT... The coronavirus cost BlueRock Diamonds GBP 550,000 ($690,000) as sales slumped and the closure of its Kareevlei mine added to its expenses, the company reported Monday.The amount includes an estimated GBP 100,000 ($125,000) of lost revenue, with the weak market forcing the company to withdraw its rough goods from a tender in March, and offer a 15% discount in June, it explained. I...Read More
(IDEX Online) - Diamond factories in Surat should close for a week to combat a spike in COVID-19 cases, say industry bodies.Three units have been forcibly closed after workers were diagnosed with the virus and 10 others have suspended work voluntarily.The Gems & Jewellery Export Promotion Council (GJEPC) and the South Gujarat Chamber of Commerce and Industry (SGCCI) have jointly appealed for a...Read More
here(IDEX Online) - New software will help jewelers comply with anti-money laundering (AML) requirements of the anti-terror USA PATRIOT Act.The JewelPAC online program has been developed by the Jewelers Vigilance Committee (JVC) and is hosted by insurers the Jewelers Mutual Group.It's designed to save time and provide peace of mind for the vast majority of US jewelers required to implement po...Read More