RAPAPORT... Alrosa has unearthed a rough stone weighing 232.4 caratsat the Udachnaya pipe, its largest in more than three years. "Such large, gem-quality crystals are extremely rare,"Evgeny Agureev, deputy CEO of Alrosa, said last week. "Of course, they arepresent at Alrosa's deposits, but we have not seen them since 2016, when twodiamonds weighing over 200 carats were mined." The octahedron...Read More
RAPAPORT... Kering, the owner of high-fashion houses Gucci and YvesSaint Laurent, reported robust sales in its jewelry and watch divisions in thethird quarter amid growth in China and the introduction of new collections. "Jewelry delivered solid growth, with a very good quarter atBoucheron and strong performances from Pomellato and DoDo, while Qeelin pursuedits successful expansion in mainlan...Read More
Diamond-producing countries on the African continent received about $8.1-billion in 2018, or 9.5% of the $85.9-billion worth of revenues generated from the sale of diamond jewellery, and some still may consider that an insufficient share, World Diamond Council (WDC) president Stephane Fischler told delegates attending the Russia-Africa Summit in Sochi, Russia, earlier this week.He stressed t...Read More
Russian diamond miner Alrosa has unearthed its largest gem-quality diamond in more than three years: a 232.4-ct stone that was unearthed at the Udachnaya kimberlite pipe.The diamond has a yellowish hue and several chips. Its dimensions are 40 ?... 39 ?... 23 mm.Advertisement"Such large gem-quality crystals are extremely rare. Of course, they are present at Alrosa’s deposits, but we have...Read More
Indian companies fillingfinal orders ahead of Diwali. Manufacturing slowing before the festival withfactories closing until late November. Steady demand for select categories buttraders struggling to sell unwanted items. Markets quiet in Israel, Antwerp andNew York following Jewish holiday period. De Beers inventory up in 3Q due toweak rough demand and despite production decline -14% to 7.4M cts....Read More
RAPAPORT... Rare pink diamonds from Rio Tinto's Argylemine in Australia will lead the upcoming Hong Kong Jewels and Jadeite auction atPhillips next month. The collection comprises 16 jewelry pieces,each incorporating stones from the Argyle deposit, which is the only knownsource of pink diamonds and is due to close next year. Chief among these willbe a ring that can be converted into a pair of...Read More
RAPAPORT... Sarine Technologies expects to register a "nominal" netprofit for the third quarter, as sales of mapping machines for small diamonds increasedamid a lessening of the midstream inventory crisis. The manufacturer of equipment for the diamond tradeforecast revenue of $14 million, representing 20% growth versus the $11.7million sales it reported for the same period a year ago. White t...Read More
RAPAPORT... US retail sales are forecast toincrease by up to 5% this holiday season, while e-commerce spending could jumpby 18%, Deloitte said Tuesday. The predictions, initially outlined in the consultingfirm's annual holiday retail forecast, published last month, were reiterated inits latest holiday retail survey report, released earlier this week. Deloitte expected overallholiday retail s...Read More
(IDEX Online) - Firestone Diamonds plc sold 168,612 carats of diamonds during its first quarter ended September 30, 2019, realizing $10.6 million and an average per carat price of $63. This compares to the sale of 177,521 carats in the fourth quarter of 2019, which generated $12.7 million and an average per carat price of $71.The fall in revenue came despite the sale of a 37-carat fancy pink...Read More
RAPAPORT... Production at the Gahcho Ku?(C) mine failed to meet MountainProvince's expectations in the third quarter, as bad weather led to themining of lower-grade ore. Ore from the asset yielded 1.7 carats of rough diamonds pertonne in the three months ending September 30 - 28% lower than the same perioda year ago. Total output fell to 1.5 million carats versus 1.8 million in 2018,even as t...Read More
(IDEX Online) - De Beers is shining a light on how it grades and tests rare fancy colored diamonds with a series of interactive hands-on demonstrations at Christie's auction house in London. The demonstrations are part of Christie's "Rare Treasures of the Earth" exhibition of exceptional fancy color diamonds and gemstones and will be conducted by De Beers Group Institute of Diamonds...Read More
Tiffany & Co. is offering a $112,000 advent calendar as one of 12 gifts in the luxury retailers first ever holiday catalog. Other gifts in the catalog includes a custom-made Tiffany Blue motorcycle created with Indian Motorcycle Co., a solid sterling silver greenhouse and a trip through Kenya that features an 11-day safari through the Samburu National Reserve.For those who want a unique design...Read More
RAPAPORT... Christie'swill collaborate with De Beers to stage a museum-quality exhibition in London aimed ateducating the public about the science of diamonds, the auction house said. Thefive-day event, focused on fancy-color diamonds as well as rare rocks andminerals, will feature a range of interactivedemonstrations. Led by experts at De Beers Group Institute of Diamonds,these will encompas...Read More
JOHANNESBURG (miningweekly.com) – The first motion of the world’s largest hydrogen-powered mine haul truck is scheduled for mid-2020, with testing continuing at Anglo American Platinum’s Mogalakwena mine until the end of the year.This climate-positive development by London- and Johannesburg-listed Anglo American will be open to the mining industry as a whole and not just the comp...Read More
Aim-listed Vast Resources has signed the documents for a $15-million finance facility to fund its operations in Romania and Zimbabwe.The company signed the binding conditional bond issue deed with UK-based fund Atlas Capital Markets.AdvertisementThe Atlas facility offered full funding to reach production at the Baita Plai polymetallic mine, in Romania, and at the Chiadzwa Community diamond concess...Read More
ASX-listed Lucapa Diamonds' continued focus on operational and productivity improvements and reductions in operating costs at the Mothae mine, in Lesotho, and the Lulo mine, in Angola, enabled it to deliver robust results for the quarter ended September 30, despite the headwinds facing the diamond sector, MD Stephen Wetherall said on Thursday.“The decline in global rough diamond demand t...Read More
RAPAPORT... Signet Jewelers has takenfurther steps into the synthetics market, launching lab-grown diamonds at itsKay and Jared brands. The move has commenced witha trial in five Kay stores.In addition, Signet has started selling loose lab-grown diamonds at its upper-mid-market Jared brand. The stones will be available as part of Jared's Chosen program,David Bouffard, Signet's vice president...Read More
RAPAPORT... South Africa-based diamond miner Trans Hex has been forcedto liquidate its failing West Coast Resources (WCR) subsidiary after apotential sale of the business fell through. Takeover negotiations with Kernel Resources have terminated,leaving Trans Hex unable to run the unit, the miner reported last week. As aresult, "WCR is not in a position to meet its working capital requirements...Read More
RAPAPORT... Petra Diamonds' revenue fell in the first fiscal quarteramid a drop in the average price and a weaker product mix at three of itsmines. Revenue dropped 23% year on year to $61.6 million for thethree months ending September 30, the miner reported Monday. Sales volumeslipped 4% to 603,626 carats, with the average selling price down 20% to $102per carat. The sales product mix was we...Read More