MOSCOW – Russian diamond producer Alrosa said its rough and polished diamond sales stood at $181.8-million in August, its second lowest monthly sales figure this year."The diamond market is still experiencing headwinds from both macroeconomic and industry specific factors, which have an adverse impact on the midstream," said Evgeny Agureev, an executive at Alrosa.AdvertisementTo wa...Read More
Mining royalty and streaming company Osisko Gold Royalties has entered into a letter of intent (LoI) to form an entity to acquire embattled diamond miner Stornoway Diamonds, which was granted creditor protection by a Quebec court on Monday.Osisko and secured creditors would acquire “all, or substantially all, of the assets and properties of Stornoway and assume the debts and liabilities owin...Read More
RAPAPORT... Stornoway Diamond Corporation's major lenders have agreed to take over the company amid mounting debts that prompted the miner to file for protection from creditors.The owner of the Renard mine in Quebec is seeking torestructure under the Companies' Creditors Arrangement Act (CCAA), a programsimilar to Chapter 11 in the US. It allows businesses in financial distress to rearrangeth...Read More
RAPAPORT... Signet Jewelers plans to reduce its purchasing of Chinesegoods by about 50%, aiming to minimize the impact of US tariffs on thebusiness. "We have been successful in working with our vendors to movea significant amount of our China exposure to other countries," Signet CEO GinaDrosos said last week. The percentage of merchandise the retailer sources fromthe key market will be in the "mid...Read More
RAPAPORT... The diamond industry must significantly increase its marketing spend to ensure the trade's longevity. This need is highlighted by the difficult conditions the sector has endured over the past few years.Recent challenges have led to a lack of confidence in the diamond trade that resulted in a seemingly endless stream of financial misconduct carried out by a minority of ill-intended merc...Read More
RAPAPORT... Rio Tinto has launched a collection of rare pinkdiamonds from its Argyle mine, which has been specially curated to showcase thefull color palette of the deposit's stones. The Argyle Pink Everlastings collection contains 64 lots andhas a total weight of 211.21 carats, with each individual stone weighing 0.14carats or below, Rio Tinto said Monday. The miner will provide a certificat...Read More
RAPAPORT... A flawless white diamond with a high estimate of $19 millionwill feature in Sotheby's Magnificent Jewels and Jadeite auction in Hong Kong next months. The emerald-cut, 80.88-carat, D-color, type IIa stone is valuedat $12.8 million to $19.1 million, and is one of only five emerald-cut diamondsover 80 carats offered in auction history, Sotheby's said Monday. A 10.64-carat, fanc...Read More
(IDEX Online) - How do you make a $2 million diamond "disappear"? For artist Diemut Strebe, in collaboration with MIT scientist Brian Wardle, the answer is a patented nanotube technology (CNT). Mixing science and art, a 16.78-carat natural yellow diamond from L.J.West was coated using a new procedure of generating carbon nanotubes (CNTs), which was recently measured to be the blackest black ever c...Read More
(IDEX Online) - Australian miner Rio Tinto has launched a new collection of rare pink diamonds from its Argyle mine in Western Australia. The Argyle Pink Everlastings Collection comprises 64 lots and weighs in at 211.21 carats represents just 2 percent of the annual Argyle pink diamond production. Every diamond in the collection weighs up to 0.14 carats. "The Everlastings Collection, representing...Read More
(IDEX Online) - Saks Fifth Avenue has opened The Vault, a new floor dedicated to fine jewelry and watches at its flagship Fifth Avenue store. The new department offers 20 new brands, limited edition pieces and the largest selection of watches ever Saks has ever offered. The luxury store says the 12,000-square foot floor, which more than doubles its dedicated fine jewelry and watches space, is part...Read More
RAPAPORT... Rio Tinto has launched a collection of rare pinkdiamonds from its Argyle mine, which has been specially curated to showcase thefull color palette of the deposit's stones. The Argyle Pink Everlastings collection contains 64 lots andhas a total weight of 211.21 carats, with each individual stone weighing 0.14carats or below, Rio Tinto said Monday. The miner will provide a certificat...Read More
RAPAPORT... The diamond industry must significantly increase its marketing spend to ensure the trade's longevity. This need is highlighted by the difficult conditions the sector has endured over the past few years.Recent challenges have led to a lack of confidence in the diamond trade that resulted in a seemingly endless stream of financial misconduct carried out by a minority of ill-intended merc...Read More
MOSCOW – Russia's Alrosa is talking to several global jewellery retailers about jointly marketing the miner's jewellery brand that uses fluorescent diamonds, as it strives to create a new niche for the natural stones.Diamond miners, which have long excelled at marketing, are seeking new approaches to battle falling demand and competition from diamonds manufactured in laboratories.Adv...Read More
RAPAPORT... Alrosa's supervisory board will vote Monday on whether to close a subsidiary that controls two of its largest mines, bringing those deposits into its core business.The Russian miner owns a 97.5% stake in Alrosa-Nyurba, which holds the licenses for the Botuobinskaya and Nyurbinskaya pipes. Alrosa is looking to improve efficiencies through the move, as it already operates...Read More
RAPAPORT... Saks Fifth Avenue has debuted The Vault, a new floor thatwill feature pieces from luxury fine-jewelry and watch designers. The area, located on the retailer's lower level, willhighlight more than 25 brands, and one of the largest selection of men's watchesthe store has ever offered, Saks said last week. "We have created the ultimate luxury destination for highfine jewelry and wat...Read More
RAPAPORT... Bonhams will spotlight a 2.17-carat Van Cleef & Arpels bluediamond ring at its upcoming sale, estimating it will fetch $800,000 to $1.2million. The emerald-cut, fancy-intense-blue, VVS2-clarity diamond isaccented by round brilliant-cut diamonds. The piece, from a private collection,will lead the September 26 New York Jewels auction. Other pieces from the Van Cleef collection...Read More
RAPAPORT... The Women's Jewelry Association (WJA) has appointed JenniferMarkas as executive director, succeeding Bernadette Mack. Markas was previously in charge of sustainability reportingand communications at Tiffany & Co., and was an event leader in thejeweler's first employee resource group for women. She also founded and headeddevelopment for Damsels in Design, a networking organizat...Read More
RAPAPORT... Saks Fifth Avenue has debuted The Vault, a new floor thatwill feature pieces from luxury fine-jewelry and watch designers. The area, located on the retailer's lower level, willhighlight more than 25 brands, and one of the largest selection of men's watchesthe store has ever offered, Saks said last week. "We have created the ultimate luxury destination for highfine jewelry and wat...Read More
RAPAPORT... Bonhams will spotlight a 2.17-carat Van Cleef & Arpels bluediamond ring at its upcoming sale, estimating it will fetch $800,000 to $1.2 million. The emerald-cut, fancy-intense-blue, VVS2-clarity diamond isaccented by round brilliant-cut diamonds. The piece, from a private collection,will lead the September 26 New York Jewels auction. Other pieces from the Van Cleef collection...Read More
RAPAPORT... Alrosa's supervisory board will vote Tuesday on whether to close a subsidiary that controls two of its largest mines, bringing those deposits into its core business.The Russian miner owns a 97.5% stake in Alrosa-Nyurba, which holds the licenses for the Botuobinskaya and Nyurbinskaya pipes. Alrosa is looking to improve efficiencies through the move, as it already operates...Read More