Diamond stocks Articles

Exelco Seeks Chapter 11 Protection in US

Oct 02, 2017 / Rapaport News

RAPAPORT... Antwerp-based diamond company Exelco NV has sought Chapter11 bankruptcy protection in the US, listing estimated liabilities of $50 millionto $100 million, according to court filings.The polished manufacturer estimated its assets at $10million to $50 million and said it had between 50 and 99 creditors, accordingto the petition it filed in the US Bankruptcy Court for the District ofDelaw...Read More

Botswana Diamonds Finds Promising Kimberlite

Oct 02, 2017 / Rapaport News

RAPAPORT... Botswana Diamonds' share price jumped 15% Friday after thecompany gave a positive report of the potential quality of a kimberlite pipe atits exploration project in South Africa.The rock at Ontevreden, South Africa, displayscharacteristics typically present in high-grade kimberlite pipes, BotswanaDiamonds said, citing an analysis that researchers at the University ofJohannesburg carried...Read More

Petra Diamonds Signs Wage Deal With Union for Kimberley Workers

October 02, 17 / Albert Robinson

(IDEX Online) - Petra Diamonds Limited said that the National Union of Mineworkers at the Kimberley Ekapa Mining JV operation has signed the same three year wage agreement as that already signed by the company's other South African operations. The mine will now revert to normal operations following conclusion of the labor disruption, the firm added. Petra last week signed a deal with the...Read More

Merlin Upbeat After 13ct. Diamond Sale

Oct 02, 2017 / Rapaport News

RAPAPORT... Merlin Diamonds has a sold a white rough diamond from itsmine in Australia for $157,880, or $11,898 per carat, it said Monday.The 13.27-carat stone is of "very high" quality and has Dcolor, Merlin said in a statement, claiming that, once polished, the diamondcould gain the GIA's D-flawless grade. "This augurs well for future white-diamond production atMerlin, especially in larger sizes...Read More

Stornoway upbeat on possible solution to lower Renard diamond breakage

October 02, 2017 / Henry Lazenby     

VANCOUVER (miningweekly.com) - Ongoing diamond breakage in the Renard process plant are reducing the proportion of larger diamonds available for sale and dimming revenue prospects for Quebec-focused miner Stornoway Diamond Corp, at a time when market sentiment for Renard's precious gems is on the rise.However, president, CEO and director Matt Manson tells Mining Weekly Online that the company is c...Read More

Firestone's Sales Hit By Discovery Of Fewer Bigger Diamonds

October 02, 17 / Albert Robinson

(IDEX Online) - The lower average price per carat achieved at Firestone Diamonds plc's sales in July and September in Antwerp represents the continued lower than expected occurrence of larger, better quality diamonds and a subdued market at its Liqhobong mine in Lesotho, the miner said. "The board believes that the lower frequency of higher value diamonds to date is potentially a function o...Read More

Ivanov Holds Meeting With Endiama Attend Inauguration Of New Angola President

October 02, 17 / Albert Robinson

(IDEX Online) - ALROSA President Sergey Ivanov visited Angola to participate in the inauguration ceremony of the new president and hold a working meeting with the management of the national diamond company Endiama E.P. Joo Loureno was proclaimed the President after the Angolan electoral commission announced the results of the parliamentary elections on August 23, with the inauguration ceremony h...Read More

CIBJO, Italian Exhibition Group Hold EU Metals Law Seminar

October 02, 17 / Albert Robinson

(IDEX Online) - The significance and potential impact on the jewelry industry of Regulation (EU) 2017/821, which will control the import into the European Union of gold, tin, tantalum and tungsten from conflict and high-risk areas, came under the spotlight at a seminar for the jewelry industry in Vicenza organized by CIBJO and the Italian Exhibition Group. Participants were welcomed by Gaetano C...Read More

Diamond stocks are crashing this year, but gem prices aren't

2nd October 2017 / Bloomberg     

LONDON - It's been a surprisingly ugly year for most diamond companies.Shares of small producers, mainly focused on mines in southern Africa and Canada, have tumbled more than 30% during the past year and each company seems to be embroiled in its own mess.AdvertisementThe issues range from mine setbacks, political fights and low prices for certain types of stones. The volatility is normal for such...Read More

Mujeres Brillantes Women's Industry Group Holds Meeting at VicenzaOro

October 02, 17 / Albert Robinson

(IDEX Online) - The international group of women in the jewelry and watchmaking industry, Mujeres Brillantes, held a meeting at the VicenzaOro fair, a year since its founding. Mujeres Brillantes President Ali Pastorini gave a speech where she said that the industry would not change course if women do not modify their their way of positioning themselves professionally. She also spoke about the e...Read More

Industry Experts To Discuss All Aspects Of Synthetics At Dubai Diamond Conference

October 02, 17 / Albert Robinson

(IDEX Online) - The Dubai Diamond Exchange (DDE) will hold an in-depth discussion on the issue of synthetic diamonds on Day 2 of the Dubai Diamond Conference on the theme of Lab-grown diamonds and their disclosure: Is there a problem?' The panel will be led by moderators Peter Meeus, Chairman of the DDE, and Tim Dabson, a former De Beers executive, who will ask a wide range of leading industry...Read More

Blue Diamond Set to Shine at Sotheby's Hong Kong

Oct 01, 2017 / Rapaport News

RAPAPORT... A rare blue diamond ring will lead Sotheby's Magnificent Jewels& Jadeite auction in Hong Kong on Tuesday, estimated at $7 million (HKD 55million) to $9.6 million.The pear-shaped, 5.14-carat, fancy deep blue, SI1-clarity diamond, is mounted on an 18-caratwhite gold ring, Sotheby's said. The pre-sale estimate translates to a price ofup to $1.9 million per carat. The sale on October 3 wil...Read More

US Jewelry Store Sales Increase

Oct 01, 2017 / Rapaport News

RAPAPORT... Sales at specialist jewelry stores in the US increased 4% year on year to$17.36 billion in the first seven months of 2017, according to data fromthe nation's Census Bureau.In July, sales jumped 11% to $2.47 billion, the data showed.Figures are all unadjusted for seasonal fluctuation. Consumer confidence improved in July and August, according to the Conference Board's Consumer Confidenc...Read More

Polished Diamond Prices Show Small Decline in September

October 01, 17 / Albert Robinson

(IDEX Online News) - After slight increases in July and August, the IDEX polished diamond price index showed a decline in September. The Index began the month at 120.74 and ended at 119.49. Outlook The market has started to come back to life over the past month following the traditionally quiet summer vacation. A look at the major diamond trading centers shows that activity is relative...Read More

Blue Nile Makes Key Executive Appointments

Oct 01, 2017 / Rapaport News

RAPAPORT... Blue Nile has named three new members of its seniorexecutive team.Erin Daley, a marketing veteran of 20 years, will join theonline diamond retailer as chief marketing officer, Blue Nile said in astatement last week. She was most recently senior vice president and chiefmarketing officer at beauty company e.l.f. Cosmetics. David Fleischman, vice president of global product at onlinetrave...Read More

The IDEX Online Polished Price Report - September 2017

October 01, 17 / Albert Robinson

(IDEX Online News) - There were relatively low levels of activity in round diamonds last month. Declines were noticeable of 2-10 percent in M-N, I1 1.25-1.49 carat stones, as well as in 5.00-5.99 carat diamonds in H-I colors and SI2 clarities. Meanwhile, 0.80-0.89 carat diamonds in G-H colors and VVS2-SI2 clarities saw increases, as did a range of categories in 0.90-0.99 stones. Fancy diamonds...Read More

Strikes End at Petra Diamonds Mines

Oct 01, 2017 / Rapaport News

RAPAPORT... Petra Diamonds has reached a new wage agreement with workers at three of its South African mines, bringing strikes atthe projects to an end.The company struck a deal with the National Union ofMineworkers over salaries at the Finsch and Koffiefontein operations, meaningemployees could return to work Friday, the miner said Thursday. Petra subsequently announced that the trade union repre...Read More

Blue Diamond to Shine at Sotheby's Hong Kong

Oct 01, 2017 / Rapaport News

RAPAPORT... A rare blue diamond ring will lead Sotheby's Magnificent Jewels& Jadeite auction in Hong Kong on Tuesday, estimated at $7 million (HKD 55million) to $9.6 million.The pear-shaped, 5.14-carat, fancy deep blue, SI1-clarity diamond, is mounted on an 18-caratwhite gold ring, Sotheby's said. The pre-sale estimate translates to a price ofup to $1.9 million per carat. The sale on October 3 wil...Read More

Strikes End at Petra Diamonds' Mines

Oct 01, 2017 / Rapaport News

RAPAPORT... Petra Diamonds has reached a new wage agreement with workers at three of its South African mines, bringing strikes atthe projects to an end.The company struck a deal with the National Union ofMineworkers over salaries at the Finsch and Koffiefontein operations, meaningemployees could return to work Friday, the miner said Thursday. Petra subsequently announced that the trade union repre...Read More

Botswana Diamonds soars on promising find at South African project

Sep. 29, 2017, 3:45 AM / Cecilia Jamasmie

Shares in London-listed Botswana Diamonds (LON:BOD) received a fresh shot in the arm on Friday after the miner said that sampling work at its Ontevreden licence in South Africa seems to prove the presence of high-grade kimberlite pipes.The discoveries at the site, which Botswana Diamonds operates in a joint venture with Vutomi Mining, follow detailed ground geophysics, which identifies Ontevreden...Read More