Diamond stocks Articles

South Korea Reduces Diamond Tax

Feb 06, 2019 / Rapaport News

RAPAPORT... The government of South Korea has abolished a 26% individualconsumption tax (ICT) on the import of polished diamonds, following talks withits bourse. In December, the government agreed to simplify the taxsystem for diamond importers by replacing it with a 5% import tax and a 10% value-addedtax (VAT), the World Federation of Diamond Bourses (WFDB) said Tuesday. That came after a f...Read More

Antwerp Vault Heist Leaves Clients in the Dark

Feb 06, 2019 / Joshua Freedman

RAPAPORT... Thieves have broken into a bank vault near Antwerp's diamonddistrict, with some clients in the dark about whether their goods have beenstolen. Daring burglars entered the BNP Paribas Fortissecure area via a sewage pipe on Sunday, emptying about 30 deposit boxes,according to local media. The bank and local police couldn't say whether any diamondswere stolen. Clients were lining up at t...Read More

Diamond prices sliding – report

Feb. 5, 2019, 7:08 AM / MINING.com Staff

A report made public today by Rapaport reveals that polished-diamond prices softened in January, with 1-carat stones falling by 0.4% last month and 1.8% compared to January 2018, while 3-carat gems fell by 1.8% last month and 5.9% compared to last year.Smaller diamonds saw a less steep decline in prices as 0.5-carat rocks fell by 0.3% in January 2019 and 0.1% when compared to last year, and 0.3-ca...Read More

BlueRock finds another exceptional diamond at South African mine

Feb. 5, 2019, 3:15 AM / Cecilia Jamasmie

BlueRock Diamonds (LON:BRD) said Tuesday it had recovered an "exceptional" 8.97-carat stone at its Kareevlei mine, in the Kimberley region of South Africa.It is the second largest stone mined from Kareevlei and the third valued at more than $50,000. The other two were a 7.76 carat stone sold for $10,070 per carat in 2017 and a 10.58 carat diamond sold for $7,047/carat in 2018.The 8.97 carat stone...Read More

Boaz Moldawsky Elected IDI Chairman

Feb 05, 2019 / Staff reporter

RAPAPORT... The board of the Israel Diamond Institute (IDI) has electedBoaz Moldawsky for a three-year term as chairman, it said Tuesday. Moldawsky, who has served as acting chairman for the pastyear, has also been deputy president of the Israel Diamond Exchange (IDE),chairman of the finance committee, and a member of the board of the Israel DiamondManufacturers Association. He is co-CEO of t...Read More

Pandora Predicts Drop in 2019 Sales

Feb 05, 2019 / Rapaport News

RAPAPORT... Danish jeweler Pandora expects revenue to fall 3% to 7% this year, after weak results in 2018 prompted an overhaul of its brand and marketing activities. "We are taking immediate and forceful action to address thedisappointing aspects of our financial performance in 2018," Pandora chief operatingofficer Jeremy Schwartz said Tuesday. "We are confident that this company-widebusines...Read More

Yellow Prices to Increase in 2019, Says FCRF

Feb 05, 2019 / Rapaport News

RAPAPORT... A reduced supply of vivid-yellow diamonds will drive a priceincrease this year, according to the Fancy Color Research Foundation (FCRF). "In the last three years we witnessed a substantial [quantity]of vivid yellows coming to market, mainly from the Misery Pipe at [DominionDiamond Mines'] Ekati mine in Canada," Jim Pounds, FCRF advisory board member and executive vice president of...Read More

S. Korea Abolishes Diamond Tax Following Appeals By Korea Diamond Exchange

February 05, 19 / Albert Robinson

(IDEX Online) - Following five years of talks and intensive work by the Korea Diamond Exchange (KDE), the South Korean government in December abolished a 26% Individual Consumption Tax on imported polished diamonds that dates back to 1976, said bourse Chairman Nam Chang-Soo.   "Now, South Korean diamond importers will have a simplified tax regime: a 5% import tax and 10% Value Added Tax, sai...Read More

Diamond Prices Slide as Year Begins with Caution

Feb 05, 2019 / Rapaport

RAPAPORT PRESS RELEASE, February 5, 2019, Las Vegas ... Polished-diamond prices softened in January as US restocking proved slower than expected after the holiday season, and as Far East buyers took vacation ahead of the Chinese New Year. Dealers were cautious due to weak demand, tight profitability and a significant reduction in bank credit.The RapNet Diamond Index (RAPI) for 1-carat diamond...Read More

Boaz Moldawsky Elected Chairman of Israel Diamond Institute

February 05, 19 / Albert Robinson

(IDEX Online) - Boaz Moldawsky, who has served as the Acting Chairman of the Israel Diamond Institute (IDI) for the past year, has been elected by IDI's Board of Directors as its Chairman for a three-year term.   Moldawsky is a second-generation diamantaire whose family were among the founders of the Israeli diamond industry. He has been active in public service in the industry for many years...Read More

BlueRock recovers 8.97 ct diamond at Kareevlei

5th February 2019 / Tasneem Bulbulia     

Aim-listed BlueRock Diamonds has recovered an exceptional 8.97 ct diamond at its Kareevlei mine, in the Kimberley region of South Africa.This will be the third diamond to be recovered at Kareevlei that is independently valued at more than $50 000.AdvertisementA diamond weighing 7.76 ct was recovered in 2017 and sold for $10 070 /ct and a diamond weighing 10.58 ct was recovered in 2018 and sold for...Read More

Pandora Forecasts Sales Drop Amid Overhaul

Feb 05, 2019 / Rapaport News

RAPAPORT... Danish jeweler Pandora expects revenue to fall 3% to 7% this year, after weak results in 2018 prompted an overhaul of its brand and marketing activities. "We are taking immediate and forceful action to address thedisappointing aspects of our financial performance in 2018," Pandora chief operatingofficer Jeremy Schwartz said Tuesday. "We are confident that this company-widebusines...Read More

South Africa's Mining Charter III threatens livelihood of alluvial diamond mining industry

Feb. 4, 2019, 12:06 PM / Gert Van Niekerk

Lack of exploration, mine closures and job losses in rural areas inevitable if MCIII is applied to junior minersMining Charter III (MCIII) heaps more pain on South Africa's alluvial diamond producers who already face enormous cost burdens and high risks. This previously productive and successful small or junior diamond mining industry consists of just 180 remaining entrepreneurial mining operators...Read More

Firestone Diamonds output down on technical issue at Lesotho mine

Feb. 4, 2019, 10:52 AM / Cecilia Jamasmie

Africa-focused Firestone Diamonds (LON:FDI) didn't exactly have a bright year in 2018, with its shares down almost 70% to date, and the situation likely to get worse after it reported Monday that production had dropped 13% in the second quarter of its financial year.The company's Liqhobong diamond mine in Lesotho treated 884,252 tonnes of ore in the three months to the end of December 2018 at an a...Read More

South Africa's EFF party says in election manifesto to nationalise mines

Feb. 4, 2019, 10:13 AM / Reuters

South Africa's radical leftist Economic Freedom Fighters (EFF) will nationalise all mines by 2023 if elected this year, the party said in its election manifesto launched on Saturday.The party is using an anti-corruption, jobs creation and state control of the economy platform to challenge the governing African National Congress (ANC) in the election expected in May. We cannot postpone the land que...Read More

Record Average Price Supports Belgium Trade

Feb 04, 2019 / Rapaport News

RAPAPORT... Belgium's polished exports were flat in 2018 as a higheraverage price offset a drop in volume, according to data the Antwerp WorldDiamond Centre (AWDC) released recently. Weakness in the market for smallerstones prompted an increase in trading in larger diamonds, leading to thehighest annual average price on record, Rapaport archives show. Strong polisheddemand in the US and Hong Kong...Read More

David Yurman Wins $1.6M in Counterfeiting Case

Feb 04, 2019 / Rapaport News

RAPAPORT... A New York district court has granted jewelerDavid Yurman protection against websites selling counterfeitmerchandise under its brand. Judge Paul Oetken issued a permanent injunction against 31unnamed websites, preventing them from distributing, advertising or selling anyfake David Yurman products, the jeweler said last week. He also awarded thejeweler nearly $1.6 million in statut...Read More

RapNet Introduces Jewelry Trading

Feb 04, 2019 / Rapaport

RAPNET PRESS RELEASE, February 4, 2019,Las Vegas... RapNet, the world's largest diamond trading network, announcesthe introduction of jewelry into its global trading network. RapNet members cannow upload jewelry images and data, perform detailed searches, and directlytrade jewelry with each other without any fees or commissions. There are noadditional fees to use this service. Theaddition of jewel...Read More

Mountain Province Includes 60-Ct Fancy Vivid Yellow Stone in February Sale

February 04, 19 / Albert Robinson

(IDEX Online) - Mountain Province Diamonds Inc. will include an exceptional quality, 60.59-carat, fancy vivid yellow rough diamond in it its upcoming rough diamond sale.   The diamond was recovered at the company's Gahcho Ku Mine last October.   Reid Mackie, Vice President Diamond Marketing, commented: "The discovery of this diamond demonstrates our ability to produce very large, h...Read More

Firestone's Sales Rise in Second Quarter

Feb 04, 2019 / Rapaport News

RAPAPORT... Sales grew at Firestone Diamonds in the second fiscal quarter as stronger volumes outweighed a lower average price, the miner reported Monday. Proceeds from rough sales at the company's Liqhobong mine inLesotho increased 11% year on year to $13.9 million for the period endingDecember 31, according to Rapaport calculations. Sales volume rose 22% to191,735 carats, with the miner ach...Read More