Diamond stocks Articles

Cartier Sues Alleged Counterfeiter

May 13, 2019 / Rapaport News

RAPAPORT... Cartier and Van Cleef & Arpels have filed a lawsuitagainst a Florida jeweler, claiming willful infringement on a number of theluxury jewelers' famous trademarked collections. Scott King, registered for business as Florida Diamond Brokers andKing Jewelers, allegedly sold imitations of jewelry belonging to theRichemont-owned divisions, the May 6 suit, filed in the US District Co...Read More

Weak Indian Demand Dents Alrosa Sales

May 13, 2019 / Rapaport News

RAPAPORT... Sales at Alrosa fell 21% year on year to $318.7 million inApril amid a continued slowdown in the Indian manufacturing sector. Rough-diamond sales dropped 20% to $315.8 million for themonth, while polished revenue plummeted 68% to $2.9 million. "In the first months of 2019, the global diamond market saw somewhat weaker demand from cutters and polishers due to both diamond-stocknorm...Read More

Watches of Switzerland to Go Public

May 13, 2019 / Rapaport News

RAPAPORT... Watches of Switzerland will proceed with an initial publicoffering (IPO) on the London Stock Exchange in an effort to reduce its debt and support growth.The UK-based luxury-watch retailer plans to raise approximately GBP 155million ($201.6 million) by selling new and existing company shares, it said last week. It will use those funds to pay offits current GBP 120 million ($150.1 m...Read More

CBI starts yet another case against fugitive Jatin Mehta

May 13, 19 / Staff Writer

The online publication FirstPost reported earlier this month that India's Central Bureau of Investigation (CBI) had registered "a fresh case against absconding diamantaire Jatin Mehta, Winsome Diamonds and Jewellery and a Jordanian Hathyam Salman Ali Obaidah for allegedly cheating Bank of India for Rs 82.55 crore [approx. $12 million]." During the past years, CBI filed at least six...Read More

Macau soon to be KP compliant

May 13, 19 / Staff Writer

The Second Standing Committee of Macau's Legislative Assembly has begun discussing the proposed law for the Kimberley Process Certification Scheme (KPCS) to come in effect in the city as of October of this year. To make the October deadline, the KPCS law will need to be ratified by the Legislative Assembly before August 15, before it adjourns for a long recess, the president of the Commi...Read More

Veteran US diamantaire Leo Schachter passes

May 13, 19 / Staff Writer

Leo Schachter (1924), a prominent diamantaire and founder and owner of Leo Schachter Diamonds, passed away on May 11, 2019. He established Leo Schachter Diamonds in New York in 1952. The company became a global leader in the midstream, from diamond manufacturing to jewelry setting. The Israeli branch of the firm belonged to the country's top exporters since the early 1980s. As second generat...Read More

Lucara reports strong first quarter

May 13, 19 / Staff Writer

Junior miner Lucara Diamond Corp reported its results for the quarter ended March 31, 2019. The company said that with respect to all mining and processing activities it recorded the best quarter in the Karowe mine's history. It recovered 132,336 carats, achieving a recovered grade of 15.9 carats per hundred tons processed. Among these were a 240-carat top white gem and a 223-carat high white...Read More

Cartier, Van Cleef Sue Alleged Counterfeiter

May 13, 2019 / Rapaport News

RAPAPORT... Cartier and Van Cleef & Arpels have filed a lawsuitagainst a Florida jeweler, claiming willful infringement on a number of theluxury jewelers' famous trademarked collections. Scott King Inc., registered for business as Florida Diamond Brokers andKing Jewelers, allegedly sold imitations of jewelry belonging to theRichemont-owned divisions, the May 6 suit, filed in the US Distri...Read More

Trade Mourns Death of Leo Schachter

May 12, 2019 / Rapaport News

RAPAPORT... Leo Schachter, whose famed international diamond company has borne his name for almost 70 years, has died. Schachter launched Beck and Schachter Company on New York's47th Street in 1952, having learned the trade from his father, Max. The firmbecame a De Beers sightholder in 1966, and expanded beyond the US to Israel,Africa and the Far East. It remained a family business, with many of S...Read More

Mountain Province Raises Production Outlook

May 12, 2019 / Rapaport News

RAPAPORT... Shares in Mountain Province rose 12% Friday after it increased its production guidance for the Gahcho Ku deposit. The Canada-based miner has made plant modifications at thesite that will allow it to process between 3.2 million and 3.3million tonnes of ore in 2019. Mountain Province had previously stated it expected toprocess between 3.1 million and 3.2 million tonnes. The changes...Read More

Dubai Exchange to Hold First Lab-Grown Tender

May 12, 2019 / Rapaport News

RAPAPORT... The Dubai Multi Commodities Centre (DMCC) will offer rough lab-grown diamonds at tender for the first time, as it aims to diversify the emirate's trade. The sale, which will be run by Hong Kong-based diamondtrading firm Tony's Auction World, will feature 50,000 carats of synthetic stones created using chemical vapor deposition (CVD). The tender will take place in the Almas Tower a...Read More

New Sales Policy Boosts Lucara Results

May 12, 2019 / Rapaport News

RAPAPORT... Lucara Diamond Corp.'s revenue nearly doubled in the firstquarter, as it introduced a new tender process which enables it to sell its higher-value stones faster.  Revenue rose 92% to $48.7 million, as sales volume increased50% to 95,057 carats. The average selling price climbed 28% to $512 per caratfor the three months ending March 31. During the quarter, the company's new c...Read More

Argyle more profitable than ever

May 12, 19 / Staff Writer

The Australian Financial Review reported that according to filings with the Australian Securities and Exchange Commission (ASIC), that profits generated in 2018 by Rio Tinto's diamond mine Argyle rose to their highest levels in a decade. The Argyle diamond mine, which is scheduled to close in 2020, registered $370.6 million in revenue which was 26 percent higher than in 2017 and was the mine&...Read More

Colored diamond prices fail to excite in first quarter

May 12, 19 / Staff Writer

The Fancy Color Research Foundation (FCRF) concluded today the results of the Fancy Color Diamond Index' first quarter of 2019. the overall prices decreased by 0.2 percent in the first quarter of 2019, influenced by a decrease in the yellow category. pink diamonds increased by 0.5 percent, blue diamonds showed a very slight decrease of 0.2 percent, and yellow diamonds decreased by 1.5 percent...Read More

Large-Stone Recoveries Fall at Gem Diamonds

May 12, 2019 / Rapaport News

RAPAPORT... Gem Diamonds' revenue faltered during the first quarter, as it recovered fewer large diamonds from its Leteng mine. Sales plunged 51% to $51.9 million for the three months ending March 31, as the average price dropped 42% to $1,900 per carat. During thesame period last year, the miner sold the 910-carat Lesotho Legend for $40million, raising the average price for the period t...Read More

GIA to hold seminar series at JCK LV

May 12, 19 / Staff Writer

GIA is organizing two seminars of interest during the upcoming JCK LV show. Identifying Laboratory-Grown Diamond Seminar Learn the techniques used to identify laboratory-grown diamonds, including HPHT and CVD, through interactive, guided discussion and a hands-on lab. Previous Gemological training and/or experience is recommended. Friday, May 31 - two sessions available: 9:00 to 11:00 a.m. a...Read More

Two illegal diamond miners killed in Angola

May 12, 19 / Staff Writer

Two reportedly illegal diamonds miners were killed in clashes between protesters and Angolan security forces who they blamed for the deaths of other illegal diamond miners. The protests were staged in Calonda, in Lunda Norte province, after reports that 17 illegal miners had died in a diamond mine. The demonstrators argued these 17 miners had been killed by police, or by the mine's security f...Read More

Mountain Province Upbeat on Production

May 12, 2019 / Rapaport News

RAPAPORT... Shares in Mountain Province rose 12% Friday after it increased its production guidance for the Gahcho Ku deposit. The Canada-based miner has made plant modifications at thesite that will allow it to process between 3.2 million and 3.3million tonnes of ore in 2019. Mountain Province had previously stated it expected toprocess between 3.1 million and 3.2 million tonnes. The changes...Read More

Dubai Exchange Holds First Lab-Grown Tender

May 12, 2019 / Rapaport News

RAPAPORT... The Dubai Multi Commodities Centre (DMCC) will offer rough lab-grown diamonds at tender for the first time, as it aims to diversify the emirate's trade. The sale, which will be run by Hong Kong-based diamondtrading firm Tony's Auction World, will feature 50,000 carats of synthetic stones created using chemical vapor deposition (CVD). The tender will take place in the Almas Tower a...Read More

New Tender Schedule Boosts Lucara Results

May 12, 2019 / Rapaport News

RAPAPORT... Lucara Diamond Corp.'s revenue nearly doubled in the firstquarter, as it introduced a new tender process which enables it to sell its higher-value stones faster.  Revenue rose 92% to $48.7 million, as sales volume increased50% to 95,057 carats. The average selling price climbed 28% to $512 per caratfor the three months ending March 31. During the quarter, the company's new c...Read More