Diamond stocks Articles

Engagement-Ring Demand Fell in 2018 - Poll

Feb 13, 2019 / Rapaport News

RAPAPORT... Fewer US consumers bought jewelry for their weddings in 2018, while the number of couples opting for engagementrings also dropped, according to The Wedding Report. The proportion of couples that bought an engagement ring when getting married fell 1.1% in 2018, with 87% purchasing one, according to a survey by the market-research company. Demand for women's wedding bands also decli...Read More

UK Gemological Center Expands to US Market

Feb 13, 2019 / Rapaport News

RAPAPORT... The Gemmological Association of Great Britain (Gem-A) has partnered with Jewelry Television (JTV) to expand its educational services to theUS market. The UK-based organization has given accreditation to JTV to operate a teaching center in Knoxville, Tennessee, where the retailer is headquartered. The location will be the first under the Gem-A brand in North America, offering gemol...Read More

Alrosa sales fell in January

Feb. 12, 2019, 4:18 PM / MINING.com Staff

Alrosa's (MCX:ALRS) sales dropped by 44% year-on-year in January, according to a press release issued by the Russian miner.The company said that it sold a total of $281.5 million worth of rough and polished diamonds, with rough stones leading most of the transactions and generating proceeds of $278.2 million.According to the world's top diamond producer by output, following a busy month in Decembe...Read More

Firestone shares on fire after finding 70-carat diamond in Lesotho

Feb. 12, 2019, 10:50 AM / Cecilia Jamasmie

Africa-focused Firestone Diamonds (LON:FDI) has unearthed an undamaged 70-carat white, makeable stone from its 75%-owned Liqhobong mine in Lesotho.The diamond is the largest found so far this year and follows the recovery of a 46-carat, gem quality white rock in December, which sold for over $1 million at a sale early this month.Shares in the company shot up on the news and were trading 8.9% high...Read More

Asian Demand Drives Kering Jewelry Sales

Feb 12, 2019 / Rapaport News

RAPAPORT... Kering recorded robust sales in its jewelry-and-watchdivision in 2018, amid growing demand for its products in Asia.Jewelry sales rose 7% to EUR 18 billion ($20.33 billion) at the French luxury group, which owns Boucheron, Pomellato and Qeelin. Timepiece sales remained solid, it added."The jewelry houses turned in a solid performance, and sales of the watches brands advanced for t...Read More

Jewelry to Top Valentine's Day Purchasing

Feb 12, 2019 / Rapaport News

RAPAPORT... US consumers plan to spend $20.7 billion on gifts this Valentine'sDay, with jewelry topping the list at $3.9 billion, according to the National Retail Federation (NRF). An NRF survey showed a 6%rise in the amount consumers intended to lay out on their loved ones over Valentine's Day. The growth comes despite a decrease in the number of consumerscelebrating the holiday this year, t...Read More

Firestone Recovers 70ct. Diamond

Feb 12, 2019 / Rapaport News

RAPAPORT... Firestone Diamonds has unearthed a 70-carat white rough stone fromits Liqhobong mine in Lesotho. "The 70-carat stone was recovered in the northern, low-gradepart of the pit, where the bulk of our mining will take place in the comingmonths," Firestone CEO Paul Bosma said Tuesday. The stone - which was removed undamaged - follows the miner'sdiscovery of a 46-carat white diamond in...Read More

January Slowdown Hits Alrosa Sales

Feb 12, 2019 / Rapaport News

RAPAPORT... Alrosa's sales fell in January amid market weakness, the miner said Tuesday. Proceeds decreased 44% year on year to $281.5 million.Rough-diamond sales dropped by the same percentage to $278.2 million, while polished revenue slid38% to $3.4 million, according to Rapaport calculations. "In January, market activity was lower than usual," said Alrosa deputy CEO Yury Okoemov. "Sales i...Read More

WFDB Signs Deal with Korea Bourse

Feb 12, 2019 / Rapaport News

RAPAPORT... The World Federation of Diamond Bourses (WFDB) has agreed tohelp promote business for the Korea Diamond Exchange (KDE). The trade bodies signed a cooperation agreement inJohannesburg, South Africa, last week, with the WFDB committing to assist thebourse in lobbying the South Korean government on matters relating to thediamond trade. The trade bodies will work together to build up...Read More

Adapt in Order to Grow, IDCA President Nilesh Sheth Tells Annual Tucson Gala

February 12, 19 / Staff Reporter

(IDEX Online) - The Indian Diamond & Colorstone Association, an association of jewelers, diamantaires and colored stone dealers, hosted its 35th Annual Tucson Gala on February 7.   IDCA President Nilesh Sheth reminded his audience that the diamond, gem and jewelry industry had faced many disruptive changes, but that that the key challenge is to adapt and work around these changes. "Our I...Read More

Chinese Consumers Spending More on Domestic Local Luxury Brands

February 12, 19 / Staff Reporter

(IDEX Online) - Recent research has indicated that the slowing Chinese economy has not stopped consumers from buying luxury items.   However, instead of spending their money in boutiques overseas, consumers are increasingly buying their luxury goods in shopping malls at home.   LVMH, which markets brands such as Louis Vuitton and Hennessy, registered higher sales in China in the fourth...Read More

Zimbabwe 'Has Long Way To Go in Making Diamond Sector Transparent'

February 12, 19 / Staff Reporter

(IDEX Online) - Piers Pigou, a political analyst and senior consultant at the International Crisis Group (ICG), argues that Zimbabwe still has a long way to go towards fostering transparency in its opaque diamond sector.   "Good governance in the diamond sector, which includes tangible progress towards improved transparency and accountability, remains a key litmus test of the Zimbabwean gove...Read More

Firestone's Lesotho mine delivers 70 ct diamond

12th February 2019 / Simone Liedtke     

Aim-listed Firestone Diamond has recovered a 70 ct white, makeable diamond from its Liqhobong mine, in Lesotho.CEO Paul Bosma said on Tuesday that the 70 ct stone was recovered in the northern, low grade part of the pit where the bulk of Firestone’s mining would take place in the coming months.Advertisement“Although the market for the smaller stones has been under pressure, we’ve...Read More

Diamond Juniors May Not Survive Low Diamond Prices

February 12, 19 / Staff Reporter

(IDEX Online) - At a Global Diamond Roundtable held earlier this month during the Investing in Africa Mining Indaba, participants discussed the fall in prices of lower quality, cheaper diamonds and indicated that if this situation is to continue, the so-called diamond juniors may not survive the onslaught, unless there is a positive turnaround in the market.   Firestone Diamonds CEO Paul Bosm...Read More

Asian Demand Drives Kering Jewelry Growth

Feb 12, 2019 / Rapaport News

RAPAPORT... Kering recorded robust sales in its jewelry-and-watchdivision in 2018, amid growing demand for its products in Asia.Jewelry sales rose 7% to EUR 18 billion ($20.33 billion) at the French luxury group, which owns Boucheron, Pomellato and Qeelin. Timepiece sales remained solid, it added."The jewelry houses turned in a solid performance, and sales of the watches brands advanced for t...Read More

Alrosa's January sales down 44% y/y

12th February 2019 / Simone Liedtke     

Following a strong performance in December, Russian miner Alrosa’s rough and polished diamond sales fell to $281.5-million in January – a 44% decrease on the same month in 2018.January’s rough diamond sales amounted to $278.2-million and polished diamond sales were $3.4-million, the company reported on Tuesday.Advertisement“In January, market activity was lower than usual....Read More

Firestone Recovers 70ct. Rough

Feb 12, 2019 / Rapaport News

RAPAPORT... Firestone Diamonds has unearthed a 70-carat white rough stone fromits Liqhobong mine in Lesotho. "The 70-carat stone was recovered in the northern, low-gradepart of the pit, where the bulk of our mining will take place in the comingmonths," Firestone CEO Paul Bosma said Tuesday. The stone - which was removed undamaged - follows the miner'sdiscovery of a 46-carat white diamond in...Read More

Gbelin Gemstone Blockchain Goes Live

Feb 11, 2019 / Rapaport News

RAPAPORT... Switzerland's Gbelin Gem Lab has launched a blockchain forcolored gemstones, which, it claims, will enable source verification throughoutthe entire supply chain. The digital ledger is now open to industry members wishingto place their gemstones on the platform, the Lucerne-based institute saidafter unveiling it at the AGTA GemFair Tucson show last week. The blockchain will record all...Read More

Zimbabwe Plans Production Hike in 2019

Feb 11, 2019 / Leah Meirovich

RAPAPORT... Zimbabwe Consolidated Diamond Company (ZCDC) expects a 46% jumpin its rough-diamond production in 2019. The nation's rough-diamond output will reach 4.1 millioncarats this year, up from 2.8 million last year, the miner told RapaportNews last week. In 2017, the company produced 1.8 million carats. Prices ofrough should also increase as the state-owned miner implements a new diamond...Read More

Lab-Grown Diamonds Poised for Growth, Says IGDA

Feb 11, 2019 / Rapaport News

RAPAPORT... The lab-grown-diamond sector is enjoying a spike in awareness among US consumers and is starting to make headway into the engagement-ring market, according to a report commissioned by the International Grown Diamond Association (IGDA) and carried out by MVI Marketing. "Over the last two years, the anecdotal feedback from IGDA members has been that the bridal category is where they...Read More