(IDEX Online) - Alrosa's sales of rough and polished diamonds in November increased 5 percent year-over-year, the miner announced today (Tuesday). Sales reached $287.8 million during the month. Rough diamond sales mounted to $282.1 million while polished diamond sales totaled $5.8 million.For the year to date, Alrosa has sold $2,974 million worth of goods. During the first 11 months of 2...Read More
(IDEX Online) - Jewelers Mutual has donated seven lab-grown diamonds to the Diamond Durability Laboratory (DDL). The donation is part of a year-long collaboration between the two entities to better understand damaged diamonds - both mined and lab-grown. The goal of the research is to create a more predictive model for potential damage during wear.The donated, damaged diamonds ranged in size from 0...Read More
(IDEX Online) - Sotheby's has appointed Wenhao Yu as its deputy chairman, Jewellery, Asia.Based in Hong Kong, Yu will be responsible for developing the auction house's jewelry business across Asia.Yu has a background in finance. He studied at Sotheby's Institute of Art in London before joiningPoly Auction Beijing in 2010 as senior manager where he co founded its Jewels and Watches d...Read More
South Africa’s biggest platinum and gold mining companies are scaling back some operations as record power cuts, now in their sixth day, start to cripple key parts of the economy.Eskom Holdings on Monday moved to Stage 6 load-shedding from 18:00 local time, meaning it cut 6 000 MW from the national grid, the most yet, after a technical problem at the new Medupi Power Station. The utility has...Read More
RAPAPORT... Alrosa's sales rose 5% year on year to $287.8 million inNovember, as the manufacturing sector began to rebound, the Russianminer said Tuesday. The monthly sales are the highest the company has reportedsince April, and the fourth highest of the year. "November sales growth [is] evidence that [the] midstreamsector, specifically in India, is on track to restore its balance," sa...Read More
The Department of Mineral Resources and Energy (DMRE) announced on Tuesday that the much-anticipated request for information (RFI) for emergency supply- and demand-side solutions to close the gap left by Eskom’s underperforming coal-fired power stations, both old and new, would be published soon. It also indicated that the Section 34 Ministerial determinations needed to facilitate the procur...Read More
RAPAPORT... It's not easy for a diamantaire to compete in the emerging diamond-traceability market, admits Bruno Scarselli, a New York-based supplier of fancy-color diamonds. As the likes of De Beers, the Gemological Institute of America (GIA) and others roll out their tracking programs, he urges the trade as a whole to look beyond blockchain and consider its biggest obstacles."We need to res...Read More
RAPAPORT... Sotheby's has appointed Wenhao Yu as deputy chairman ofjewelry for Asia, to help strengthen its expertise and sourcing capabilitiesand expand its business in the region. Yu was previously at Poly Auction Hong Kong, where he founded and headed its jewels and prestige collection department.Prior to that role, he cofounded the jewels and watches department at PolyAuction Beijing. "O...Read More
RAPAPORT... Alrosa has identified three new exploration sites that couldpotentially yield 17.9 million carats of rough across their lifespan, according to preliminaryestimates.The sites are located close to Alrosa's Mir mine in the Yakutia region of Russia. "Detecting new diamond deposits in [the] Nizhne-Botuobinskaya area will make a significant contribution to the development of Alrosa...Read More
RAPAPORT... J.C. Penney has appointed Karl Walsh as chief digitalofficer, charging him with overseeing improvements to its e-commerce platforms and customer experience. Walsh waspreviously chief digital officer at Danish jeweler Pandora, a role he took onin March. He also worked at Boston Consulting Group and McKinsey & Company. He began at J.C. Penney on December 2, reporting to executiv...Read More
(IDEX Online) - Sightholder Mouawad has unveiled the $5 million crown created for the Miss Universe competition. The 18-karat gold creation, called The Miss Universe Power of Unity Crown, is set with over 1,770 white diamonds. The headpiece also features three yellow diamonds from Botswana including a 62.83-carat shield-cut canary yellow stone at its center. Through its partnership with...Read More
(IDEX Online) - David Yurman has opened its New York flagship store. The 5,000 square-foot location spans three floors on East 57th Street.The store, described by cofounder Sybil Yurmn as "an emporium," offers David Yurman products across all categories, including high jewelry, women's, men's, wedding and watches and a curated assortment of limited-edition pieces exclusive to the 57th St...Read More
RAPAPORT... Sotheby's has appointed Wenhao Yu as deputy chairman ofjewelry for Asia, to help strengthen its expertise and sourcing capabilitiesand expand its business in the region. Yu was previously at Poly Auction Hong Kong, where he founded and headed its jewels and prestige collection department.Prior to that role, he cofounded the jewels and watches department at PolyAuction Beijing. "O...Read More
RAPAPORT... J.C. Penney has appointed Karl Walsh as chief digitalofficer, charging him with overseeing improvements to its e-commerce platforms and customer experience. Walsh waspreviously chief digital officer at Danish jeweler Pandora, a role he took onin March. He also worked at Boston Consulting Group and McKinsey & Company. He began at J.C. Penney on December 2, reporting to executiv...Read More
Petra Diamonds said on Monday it was in the process halting operations at its Cullinan, Finsch and Koffiefontein mines in South Africa after State utility Eskom asked the miner to reduce its electricity load.Production, hoisting and processing have stopped with immediate effect and Petra Diamonds is now removing all people from underground, except those required for essential services, it said in...Read More
RAPAPORT... Christie's brought in $6.9 million from its Fine Jewels salein Paris, with a fancy orangey-pink diamond ring fetching more than eight timesits high estimate. The old-cut, 6.32-carat, type IIa, VS2-clarity diamond wasthe top-grossing lot, going for $717,596 against a high estimate of EUR 80,000($88,473), or $113,544 per carat. Christie's sold a total of 80% of the lots onoffer at l...Read More
RAPAPORT... Watches ofSwitzerland has appointed Katie Reed vice president of marketing for the US. She will be responsible for all North American communications for the brand, as well as itsMayors subsidiary. Reed was previouslyvice president of marketing and revenue at Surface Media, as well as publisherof its Watch Journal magazine. She was recognized by The Wall Street Journal in2014...Read More
RAPAPORT... Tiffany & Co. has opened a one-month holiday pop-up shopin New York featuring its men's collection. The store, which will be open from December 6 to January 6,will carry items from the jeweler's Tiffany Men's collection, includingaccessories, barware, home objects and games, the company said last week. Theretailer will also offer custom Tiffany basketballs created by Spalding....Read More
(IDEX Online) - To better reflect its mission, the Diamond Empowerment Fund is changing its name to Diamonds Do Good. Diamonds Do Good was set up in 2007 and for over 12 years has supported programs that develop and empower people in diamond communities around the world. In recent years, it has also told the stories of the good that diamonds do for the communities in which they are mined, cut...Read More
RAPAPORT... An Art Deco aquamarine and diamond necklace by Cartierfetched more than triple its high estimate at Bonhams' London Jewels sale. The Cartier piece, which is dated from 1940 and features 170carats of aquamarines, sparked an international bidding war, selling for $601,213 against its $192,435 high valuation, the auction housesaid last week. Ten pieces of jewelry from the priva...Read More