(IDEX Online) - A delegation of Antwerp diamond bosses has visited Angola, in a bid to break Dubai's near monopoly on its stones.Twenty CEOs took part in a two-day trade mission to the capital Luanda, organized by the Antwerp World Diamond Centre (AWDC) and the Belgian Embassy.They were seeking closer working links with Angola, currently the world's sixth biggest diamond producer.But loc...Read More
RAPAPORT... De Beers has revamped the management of its Tracr blockchain platform as the project moves into its second stage of development.Wes Tucker, the miner's senior vice president of digital transformation, took over as Tracr's head earlier this year, a De Beers spokesperson confirmed to Rapaport News this week. He replaced Jim Duffy, who had been general manager of the platform since m...Read More
RAPAPORT... A royal tiara "tried on" over 22,000 times on Instagram sold for more than $1 million at Sotheby's on Tuesday, making it one of the top-grossing lots at the Geneva auction. The headpiece, which became Sotheby's most popular augmented-reality filter on social media, brought in $1.6 million - just over its high estimate - at the May 11 Magnificent Jewels and Noble Jewels sale. That...Read More
(IDEX Online) - A hapless groom splashed out $20,000 an engagement ring - only to have thrown back in his face when his bride-to-be discovered it was lab-grown.She wanted to know how much he'd paid for the 3.6-carat sparkler. When he showed her the grading certificate she was furious to learn he hadn't bought her a "real" gem.The anonymous 30-year-old ring buyer posted his tale of...Read More
(IDEX Online) - The Democratic Republic of Congo (DRC) stands to lose at least $3.71bn from "suspect mining and oil deals" with the diamond tycoon Dan Gertler, according to claims by the civil society coalition Congo is Not for Sale.The country - one of the poorest in the world - has lost $1.95bn in revenue since 2013, according to the society's analysis of publicly available financial d...Read More
(IDEX Online) - Industry bosses in India have been challenging a US proposal to charge 25 per cent import duty on many items jewelry.It's widely seen as retaliation India's new two per cent digital service tax, which targets Amazon and other non-Indian e-tailers.Representatives of India's gem and jewelry sectors voiced their concerns about the import duty at a United States Trade Re...Read More
RAPAPORT PRESS RELEASE, May 12, 2021, Mumbai ... The Rapaport Group is pleased to announce the appointment of Prashant Bhojani as the new Chief Marketing Officer for Rapaport India.Bhojani (pictured) will drive the marketing and communication activities of Rapaport India. He will lead the marketing of a powerful set of new initiatives that will add value for Rapaport's Indian clients while continu...Read More
RAPAPORT... Hong Kong's polished-diamond imports rose 47% year on year to $3.43 billion in the first quarter of 2021, reflecting an improvement in market conditions compared with the onset of the coronavirus crisis. However, shipments were still well below the $5.02 billion the municipality recorded in the same period of 2019.Hong Kong Trade Data for 1Q 2021 Read More
RAPAPORT... US polished-diamond imports more than doubled year on year to $1.74 billion in March, reaching their highest level since May 2019, according to recent government data. The improvement partly reflects a favorable comparison with the onset of the coronavirus crisis a year earlier.US Trade Data for March 2021 Read More
RAPAPORT... HB Antwerp and Sarine Technologies have agreed to a partnership that will see the pair integrate their respective machinery throughout the diamond-manufacturing process.Under the deal, Belgian manufacturer HB will use Sarine's scanning and automated grading systems for the entire supply chain, from rough sourcing to the final polished. HB will pay Sarine based on the value of the...Read More
RAPAPORT... Sotheby's will open a retail store in its New York flagship gallery featuring over 5,000 luxury items, including fine jewelry, art, watches and handbags.The Emporium is an extension of the auction house's Buy Now online marketplace, which enables shoppers to purchase luxury items whenever they want, Sotheby's said Monday. The site will offer items at different price points, and buyers...Read More
(IDEX Online) - Lucapa today announced it had sold a parcel of about 4,000 carats of rough from its Lulo mine, in Angola, for $5m.The Australian miner said seven high-value diamonds, including two pinks, were put aside for a later sale.It achieved an average per carat of $1,239 in the sale, together with partners Endiama and Rosas & Petalas.Earlier this month Lucapa sold a 3,617 carat parcel f...Read More
(IDEX Online) - Petra is to re-open its Williamson mine, in Tanzania, more than a year after it was put on on care and maintenance amid the first Covid lockdowns and unprecedented low rough prices.The mine, a quarter-owned by the Tanzanian government, has now reportedly secured overdraft funds to resume production at full capacity. It halted operations when the per carat price of the rough it...Read More
RAPAPORT... Sarine Technologies, which supplies equipment to the diamond-manufacturing sector, saw sales rise in the first quarter as cutters lifted production in response to strong retail demand.Manufacturers bought and processed large quantities of rough during the period as the diamond market recovered from last year's slowdown, Sarine said Monday. This supported demand for the company's r...Read More
RAPAPORT... Diamonds Do Good (DDG) has launched a contest in which it asks designers from around the world to create a signature bracelet that defines the nonprofit's mission.The pieces designed for Project Bracelet should relate to growth, unity and equality, DDG said last week. The group is specifically encouraging Black, Indigenous and multicultural designers to participate."We believe the need...Read More
RAPAPORT... Gem Diamonds has recovered a 370-carat rough stone in Lesotho, the second over 100 carats in one week.The "high-quality," white, type II diamond came from the company's Let??eng mine, known for producing large diamonds, it said Monday. The new find follows the discovery of a high-quality, 254-carat, white, type II diamond the miner reported on May 4.The miner has unearthed three 100-ca...Read More
(IDEX Online) - Gem Diamonds today announced its second major find (pictured) in a week - a 370 carat Type II, white diamond.It comes just six days after it announced the recovery of a 254 carat Type II white diamond.Both gems are from the Letseng mine in Lesotho, which has seen a reversal of fortunes after several "dry" months. Before these finds the last major discovery was 126.9-carat typ...Read More
(IDEX Online) - A host of top-flight jewelers have signed a pledge to improve the traceability of colored gemstones.The Gemstones and Jewellery Community Platform has been launched by industry body Coloured Gemstones Working Group (CGWG) to unite brands through their "shared commitments for people and planet".It will provide practical help and guidance on responsible sourcing, which can be difficu...Read More
(IDEX Online) - Trade in diamonds between Israel and UAE has been flourishing since last September's normalization agreement, according to figures released yesterday.Around 13 per cent of Israel's rough exports in April were to the United Arab Emirates, with a value of $18m.And this month 14 per cent of Israel's rough imports are expected to be from the UAE, according to an update r...Read More
RAPAPORT... Israel's diamond trade recorded sharp growth in April as the industry recovered from last year's downturn, government data showed.Polished exports after returns skyrocketed 735% versus the same period of 2020, when many countries were in lockdown and the supply chain froze, according to figures the Ministry of Economy and Industry released Monday.Polished imports jumped 512%. Roug...Read More