The Antwerp World Diamond Centre (AWDC) announced it will celebrate the centennial of the "Tolkowsky cut," the famous round brilliant diamond cut that has set the global standard for quality diamond cutting. On May 27, AWDC will mark this milestone with a major event in Antwerp's diamond district. It will stage an event called "100 Years Brilliant" and also hold a street festival. Tolkowsky, a sci...Read More
A London judge rejected fugitive diamantaire Nirav Modi's third attempt to get bail, after his lawyer said that Indian authorities have seized or liquidated the equivalent of $860 million of his funds and he doesn't have access to enough resources to flee.Judge Emma Arbuthnot ruled that even though Modi was willing to double his proposed security to 2 million pounds ($2.6 million), the risk of int...Read More
A report published by Rapaport this week reveals that polished-diamond prices declined in April with 1- carat diamonds sliding 1% year-to-date and 3-carat diamonds falling by 6.1% year-to-date.Right behind 3-carat diamonds, the price of 0.30-carat diamonds fell by 5.9% year-to-date, while 0.50-carat diamond prices dropped by 1.2% year-to-date.According to Rapaport, the fall is caused by continued...Read More
Dealers preparing for Las Vegas shows hoping steadyUS retail market will stimulate diamond trading. Rising expectations forGemGen??ve fair amid positive luxury demand. Good opportunities for high-endbuyers after 3 to 5 ct. prices dropped significantly (3 ct. RAPI -6.1% sinceJan. 1). Rough trading cautious with high auction prices and tightmanufacturing profits. Sightholders anticipate stable price...Read More
Sentiment weak due to reduced bank credit and fewerorders than usual. Market dynamic driven by supply rather than demand. Manufacturersreducing capacity. Steady interest in 0.70 to 1.50 ct., G-J, SIs. Stable gold jewelrymarket for May 7 Akshaya Tritiya festival. RoundRead More
RAPAPORT... Hong Kong-based jeweler Chow Tai Fook has launched abusiness hub in Boston that will supply products and services to US retailers. Chow Tai Fook North America (CTFNA) will operate as awholesaler, offering customized diamond and jewelry collections, the companysaid Wednesday. It will also house Chow Tai Fook's existing jewelry brands,Hearts on Fire and M?(C)moire. Caryl Capeci, presiden...Read More
RAPAPORT... Alrosa has sold a number of its non-diamond-relatedbusinesses in an effort to consolidate operations and focus on its diamondassets, it said Tuesday. During the first quarter, the Russia-based miner disposed of21 assets, including subsidiary equity stakes and real estate totaling RUB 1.24billion ($19 million). The most significant of those was JSC Golubaya Volna health resort,whic...Read More
RAPAPORT... The movie What Women Want was on to something when itcame out nearly 20 years ago. In it, a hotshot playboy and advertisingexecutive wakes up from an accident with the ability to read women's minds. Atfirst, he sees this as a curse, but his female psychiatrist convinces him thathis gift could help his career: "If men are from Mars and women are from Venus,and you can speak Venusian, th...Read More
RAPAPORT... Pandora will push ahead with a total overhaul of its business, after sales weakened in the first quarter. Global sales fell 6% year on year to DKK 4.8 billion ($720.5million) for the January-to-March period, the Danish charm maker reportedTuesday. Revenue in the US slipped 12% in local currency to DKK 977 million($146.5 million), while sales in China rose 15% to DKK 548 mill...Read More
RAPAPORT... A diamond named for its resemblance to bubble gum will go under thehammer at Christie's Hong Kong sale later this month. The rare cushion modified brilliant-cut, 3.44-carat,fancy-vivid-purplish-pink diamond, which is internally flawless, will lead theMagnificent Jewels sale on May 28, the auction house said last week. The centerstone of the ring by jeweler Moussaieff, called the B...Read More
RAPAPORT PRESS RELEASE, May 7, 2019, Las Vegas ... Polished-diamond prices declined in April due to continued oversupply and selective Far East demand. US jewelry sales remain firm, helping to support the global trade. The RapNet Diamond Index (RAPI?,,?) for 1-carat diamonds slid 0.5% in April. The index has fallen 1% so far this year, and 3% since May 1, 2018. RapNet Diamond Index (RAPI?,,?)...Read More
RAPAPORT... Two top items failed to sell at Bonhams' NewYork auction last week, including a rare fancy orangey-pink diamond. The 12.62-carat stone, which was valued at $1.5 million to $2 million, was the lead lot in the New York Jewels sale. The second most expensive piece, a cushion-shaped, 15.23-carat Kashmir sapphire, estimated at $1.3 million to $1.8 million, also went unsold. ...Read More
ALROSA TECHNOLOGY, the diamond science and technology firm that is jointly owned by ALROSA and the Technological Institute for Superhard and Novel Carbon Materials (FSBI TISNCM) of Russia, will present its new-generation ALROSA Diamond Inspector for the screening and identification of natural diamonds, treated diamonds, laboratory-grown diamonds (LGDs) and simulants at the Fifth Mediterranean Gemm...Read More
Russia's Alrosa, the world's leading diamond miner in volume, continues to sell off assets in 2019, with the purpose to improve its financial performance and to focus on the company's core diamond mining business. In 2018, ALROSA sold its gas assets, the Geotransgaz and Urengoy gas companies, and more than 250 properties that included real estate, in-progress construction projects, as we...Read More
Pandora, the renowned Danish fashion jewelry manufacturer and retailer, is pushing forward with its plans and program to "Reignite a Passion for Pandora." Under its new CEO and President, Alexander Lacik, and the new CFO Anders Boyer, the firm is progressing with NOW - the firm's business transformation program that "has comprehensive impact on the organisation, operations and culture." "As a foun...Read More
RAPAPORT... Two top items failed to sell at Bonhams' NewYork auction last week, including a rare fancy orangey-pink diamond. The 12.62-carat stone, which was valued at $1.5 million to $2 million, was the lead lot in the New York Jewels sale. The second most expensive piece, a cushion-shaped, 15.23-carat Kashmir sapphire, estimated at $1.3 million to $1.8 million, also went unsold. ...Read More
JOHANNESBURG (miningweekly.com) – Following the announcement in October 2018 of WorleyParsons' binding offer for Jacobs' Energy, Chemicals and Resources, the combined new entity has come together under a new brand – Worley – involving 57 600 people across 51 countries.While financially a $3.2-billion acquisition, operationally the transaction is a combination of two compl...Read More
Stornoway Diamond Corp. mounted a mine rescue team from the Renard mine - and they won all the awards at the 57th Quebec Provincial Mine Rescue Competition. The contest took place on May 2-4, 2019, in La Sarre, Que.The Renard team of Danny Berube, Mathieu Dresdell, Raphael Duchesne, Simon Gelinas, Fran??ois Gilbert, Guillaume Lemay, Rachel Major, Adam Paquet and Patrick Tremblay led by Yannick Sav...Read More
RAPAPORT... The "5Cs and 2Ts" isn't as catchy as the usual formula, but it might be a better pricing method, according to the author of a diamond-trade guide that claims the 4Cs are no longer adequate."One of the biggest misconceptions is that there are onlyfour diamond price factors - color, clarity, cut and carat weight," Ren?(C)eNewman, a graduate gemologist who last year published the third ed...Read More
ABC News reported that, despite the faster pace of economic growth, the retail sector had shed 49,100 jobs in the past 12 months. But the National Retail Federation seems to disagree. "Retail job losses appear to reflect broader changes in the economy as more Americans have shifted their spending online and stores close after decades of overexpansion. But the government figures don't tel...Read More