RAPAPORT... Swiss watch exports fell 0.4% to CHF 1.76 billion ($1.75million) in April, amid continued weak demand in Hong Kong. "The negative change in exports to Hong Kong accentuated theslowdown in growth that began in late 2018," the Federation of the Swiss WatchIndustry reported Tuesday. The percentage decline suffered from an unfavorable comparison with April 2018, when shipments t...Read More
RAPAPORT... Profit at Asian Star, a Mumbai-based diamond manufacturer, grew 6% to INR 1.16 billion ($16.7 million) in thepast fiscal year, as lowerexpenses compensated for a decline in sales.Revenue, including at subsidiaries, dropped7% to INR 39.13 billion ($524.6 million) for the 12 months ending March 31, thecompany said last week. Expenses fell by the same percentage to INR 35.06billion (...Read More
RAPAPORT... Lucapa Diamond Company aims to pinpoint a huge source of rough diamonds at its Lulo mine in Angola within the next two years, it said Monday. The Australia-based miner has found high-quality stones at its alluvial deposit, including the 404.20-carat 4 de Fevereiro, the largest in Angolan history. The company believes these stones originated from a deep diamond source located within the...Read More
RAPAPORT... India's polished-diamond exports slid 18% to $1.64 billionin April, representing the sixth consecutive month of year-on-year decline.Lower volumes outweighed a rise in the average price. Rough imports also fell,reflecting slow demand since the start of 2019.India Trade Data for April 2019 Millions unless stated otherwiseRead More
RAPAPORT... Platinum-jewelry demand grew in India and the US in 2018, as younger consumers and male buyers responded strongly to marketing campaigns,Platinum Guild International (PGI) reported. US sales at PGI's retail members grew 11% amid stronggrowth in the bridal category, and the successful use of celebrities inadvertising, the trade organization said. Sales for 2019 are expected to increaseb...Read More
IDEX has introduced BoxxStars, a new service that allows jewelry manufacturers, retail jewelers, designers and other jewelry professionals to source tailor-made order of round stars and melee diamonds. The BoxxStars Service is a new service offered by IDEX Guaranteed Diamond Transactions Network and is powered by IGI DBOX. This much awaited service brings the unmatched sourc...Read More
Israel Diamond Exchange (IDE) President Yoram Dvash led a delegation of the heads of 28 leading Israeli diamond companies to Moscow last week to meet with senior ALROSA officials. Accompanying the delegation was Israel Diamond Institute Chairman Boaz Moldawsky and Israel Diamond Controller Danny Tal. Dvash said that the delegation sought IDE's cooperation with the mining giant and to increase...Read More
In Photo: German Gemmological Association President Thomas Lind and CIBJO President Gaetano Cavalieri flanked by speakers and guests at the 7th European Gemmological Symposium in Idar-Oberstein, Germany. Seen in the photograph (from left) are: Hans Juergen Henn, Dr. Robert Chodelka, Prof. Dr. Andy H. Shen, Frank Fruehauf, Dr. Claudio Milisenda, Branko Deljanin, Dr. Thomas Lind, Prof. Dr. Henry Hae...Read More
Next week, the Responsible Jewellery Council (RJC) will return to JCK Las Vegas, one of the jewelry industry's recurring leading, annual trade events that brings together over 30,000 of the world's most influential industry professionals in a secure environment for order writing, inspiring education and networking. We have put together an exciting panel discussion with industry expert gu...Read More
RAPAPORT... Profit at Asian Star, a Mumbai-based diamond manufacturer, grew 6% to INR 1.16 billion ($16.7 million) in thepast fiscal year, as lowerexpenses compensated for a decline in sales.Revenue, including at subsidiaries, dropped7% to INR 39.13 billion ($524.6 million) for the 12 months ending March 31, thecompany said last week. Expenses fell by the same percentage to INR 35.06billion (...Read More
Organizations behind lab-grown diamonds continue to push to conquer the market.As miners of the precious stones are struggling across the board, particularly those unearthing cheaper and smaller gems where there is too much supply, companies producing synthetic diamonds are expanding their reach by incorporating consumer feedback into their manufacturing and commercialization processes.According t...Read More
RAPAPORT... Twenty-five undisclosed lab-grown diamonds have turned up atthe Gemological Institute of America (GIA) - including several with a raregreenish color. The GIA's lab in Carlsbad, California, recently received thestones - weighing from 0.46 to 0.52 carats - for grading reports. They allproved to have been created using High Pressure-High Temperature (HPHT), GIA seniorresearch scientist Sa...Read More
RAPAPORT... India's diamond trade is in a fight with authorities overstricter customs enforcement for rough that could have a "disastrous" impact on theindustry.Companies have recently been suspected of giving incorrect values for imports or exports of rough diamonds, a senior official at the Office of the Commissioner of Customs in Mumbai reported in a note on May 4. In most of those cases, the c...Read More
RAPAPORT... In an era when consumers are more tech-savvy than ever, andonline jewelers are taking business from brick-and-mortar, tools thatenhance the customer experience can help retailers draw customers totheir stores. Many industries have been using 3-D for years to improve consumers' buyingexperience. However, the jewelry retail trade has only recently begun to harnessthe benefits the te...Read More
RAPAPORT... Trans Hex plans to sell nearly 70% of its Namaqualandoperations to the same company that bought its Lower Orange River mines last year. The miner is currently negotiating terms for the sale of the South Africa-based project with Christopher and Nathiera Kimber of KernelResources, who also own Lower Orange River Diamonds. Until the sale is final,Kernel Resources will be responsible...Read More
RAPAPORT... India's diamond trade is in a fight with authorities overstricter customs enforcement for rough that could have a "disastrous" impact on theindustry.Companies have recently been suspected of giving incorrect values for imports or exports of rough diamonds, a senior official at the Office of the Commissioner of Customs in Mumbai reported in a note on May 4. In most of those cases, the c...Read More
RAPAPORT... Trans Hex plans to sell nearly 70% of its Namaqualandoperations to the same company that bought its Lower Orange River mines last year. The miner is currently negotiating terms for the sale of the South Africa-based project with Christopher and Nathiera Kimber of KernelResources, who also own Lower Orange River Diamonds. Until the sale is final,Kernel Resources will be responsible...Read More
A major miner in Botswana has commissioned a South African company to manufacture three mobile operator stations for its diamond mine in Botswana.The mobile stations allow for capital equipment to operate by means of remote-control technology, 100 m away from where the machine is working.AdvertisementThis delivery marks a first for Africa, as these hi-tech stations have not been manufact...Read More
Canadian miner Lucara Diamond Corp has recovered a 1 758 ct uncut diamond – the world’s second-largest – from its wholly owned Karowe diamond mine, in Botswana. The unbroken stone, one of the largest diamonds in recorded history, the largest diamond recovered in Botswana, and the largest diamond to be mined at Karowe to date, was recovered through Lucara’s state-of-the-art...Read More
Dealers heading to Las Vegas with hope new JCKvenue will create a buzz and stimulate trading. Market sentiment weak amid sloworders, tight liquidity and declining prices. Memo houses doing well. US retailpositive, with fine jewelry a top category at J.C. Penney and Macy's. RichemontFY jewelry sales at Cartier, Van Cleef & Arpels +10% to $7.9B. Diamond manufacturers'profit squeezed as De Beers...Read More