In May 2019, like during the four previous months of this calendar year, jewelry sales continued to suffer. Watch sales, on the other hand, have been improving though the first five months of the year, albeit in low, single digit increments. In May, the fall in sales of jewelry registered at 8.7 percent, compared to May 2018, the sharpest fall for the year. As the various graphs show, in May 2018...Read More
Based on the success of last year's 'Fly to Buy' campaign, the Israel Diamond Exchange (IDE) today announced that the second 'Fly to Buy' event will be held from September through December 2019. The promotion is being held in collaboration with the Israel Ministry of Economy. 'Fly to Buy' offers overseas diamond buyers up to $1,000 to cover the price of their fli...Read More
CNN Business reported that the Chinese yuan had dropped sharply on Monday to its weakest level against the US dollar in more than a decade, raising fears of further dangerous escalation in the US-China trade war. The yuan fell after the People's Bank of China set its daily reference rate for the currency at 6.92, the weakest rate since December. China's central bank sets a "band" every...Read More
Walmart's $16 billion acquisition of Flipkart last year sent the retailer to first place on the list of biggest retail and e-commerce companies in India, according to Euromonitor. E-commerce giant Amazon ranked second, and Future Group and Reliance Group placed in the top five, India's Economic Times reported. The newspaper reported that Walmart is followed by its US rival Amazon in the...Read More
FREETOWN – At the foot of a slag heap some 40 metres high, Adi Kalie Bangura showed the black welts that dot his arms and legs that he says are the result of drinking and bathing in water contaminated by Sierra Leone’s largest diamond mine.The water “makes us get headaches and feel sick in our stomachs,” said Bangura, a traditional healer and community elder in Koidu, the l...Read More
Junior miner Lucapa recovered an exceptional, D-color type IIA gem, weighing 64 carats at its Mothae mine in Lesotho. Lucapa managing director Stephen Wetherall said the gem is the best individual diamond recovered to the date from the Mothae mine in Lesotho, "further underlining its status as a source of large and premium-value stones. "The recovery of this exceptional 64-carat gem also represen...Read More
KALGOORLIE (miningweekly.com) – Diamond miner Lucapa Diamond Company has recovered a 64 ct diamond from its Mothae kimberlite mine, in Lesotho.The Type IIa D-colour gem is considered to be the best individual diamond recovered to date from the Mothae mine, Lucapa MD Stephen Wetherall said on Tuesday.Advertisement“The recovery of this exceptional 64 ct gem also represents a great start...Read More
RAPAPORT... AGD Diamonds has unearthed three rough stones over 100 carats from its Grib mine in Russia, including one it claims is Europe's largest.The company found the 222.09-carat stone on May 4, and named it Vladimir Grib in honor of AGD's formerchief geologist. The second stone, found on May 3, weighs 127.34 carats. Theminer has called it Elisey Verichev, paying tribute to the AGD veter...Read More
Aim-listed BlueRock Diamonds has appointed mining services provider Teichmann South Africa, as a contract miner at its Kareevlei diamond mine, in the Kimberley region of South Africa.The five-year contract is effective July 1.AdvertisementBlueRock announced in May that it was in negotiations with a member of the Teichmann Group to provide the quantity of ore necessary to meet BlueRock’s prod...Read More
RAPAPORT... Prices of pink fancy-color diamonds outperformed other majorcolor categories during the second quarter, the Fancy Color Research Foundation(FCRF) said. Prices of pinks rose 0.4% quarter on quarter for the threemonths ending June 30, according to the FCRF, which released its quarterlyFancy Color Diamond Index (FCDI) last week. By contrast, prices of blue fancy-color diamonds decli...Read More
RAPAPORT... The Israel Diamond Manufacturers Association last week honored 12 individuals for their contribution to the industry.The ceremony, which occurs every two years, bestowing the title "Israel Diamond Industry Dignitary 2019," took place on July 28 in the presence of government ministers and diamond industry leaders. Most of the recipients are diamantaires, although the list also incl...Read More
RAPAPORT... Global demand for gold jewelry rose 2% year on year to 531.7tonnes in the second quarter amid an expansion of the Indian market, theWorld Gold Council (WGC) reported. Appetite for gold jewelry in India climbed 12% to 168.6tonnes in the three months ending June 30, the highest increase in two years. Thequarter contained 37 days considered auspicious in India for getting married, compare...Read More
The Dubai Diamond Exchange (DDE), a subsidiary of DMCC, facilitated three separate tenders that were issued by Rappaport, Stargems and Trans Atlantic Gem Sales (TAGS). On offer were both rough and polished diamonds. "It has been a challenging year for the diamond industry overall. However, the success of these tenders shows that there remains healthy demand for rough diamonds if the quality and pr...Read More
On occasion of the 50th anniversary of the Orapa Letlhakane and Damtshaa mines, Botswana's Weekend Post interviewed Bakani Motlhabani, General Manager of Debswana, the firm that manages, among others, the famous Orapa Mine, one of the world's largest diamond mines. Debswana 50 year's celebrations were hosted at its Gaborone head office. In his remarks, Motlhabani explained that dia...Read More
Jewelers of America (JA), held its first National Convention, an education-focused executive forum for jewelry professionals, on July 28-29, 2019, at the InterContinental New York Barclay in New York City. The event Convention featured four dynamic keynote speakers, thought provoking breakout sessions, an informative Diamond Detection Lab and interactive Retail Innovation Lab. Attendees came from...Read More
RAPAPORT... Revenue from the retail division of Warren Buffett'sBerkshire Hathaway increased 2.5% to $4.03 billion in the second quarter, thecompany reported Saturday. The improvement in the division, which includes jewelrychains Borsheims, Helzberg Diamonds and Ben Bridge Jeweler, was buoyed in largepart by the company's car business, including sales of pre-owned vehicles, automotive financi...Read More
RAPAPORT... Global demand for gold jewelry rose 2% year on year to 531.7tonnes in the second quarter amid an expansion of the Indian market, theWorld Gold Council (WGC) reported. Appetite for gold jewelry in India climbed 12% to 168.6tonnes in the three months ending June 30, the highest increase in two years. Thequarter contained 37 days considered auspicious in India for getting married, compare...Read More
RAPAPORT... Prices of pink fancy-color diamonds outperformed other majorcolor categories during the second quarter, the Fancy Color Research Foundation(FCRF) said. Prices of pinks rose 0.4% quarter on quarter for the threemonths ending June 30, according to the FCRF, which released its quarterlyFancy Color Diamond Index (FCDI) last week. By contrast, prices of blue fancy-color diamonds decli...Read More
RAPAPORT... Pandora is set to unveil a total overhaul of its branding, as its aims to reengage with consumers following consistently disappointing sales.The Danish jewelry retailer will launch a new "company purpose, brand expression and visual identity," while introducing a revamped store design, online shops, and design collaborations with global franchises, it said last week. The company w...Read More
RAPAPORT... India's polished-diamond exports slid 13% in the first six monthsof the year, reaching their lowest level since a market slump in the secondhalf of 2015. The drop reflected a slowdown in the trading and manufacturingsectors, resulting from weak liquidity and profitability. Rough and polishedtrading also fell significantly in June, according to data from the Gem &Jewellery Export Pr...Read More