RAPAPORT... Alrosa plans to increase its rough-diamond output next year as new mining resources come onstream, enabling it to address the market's supply shortages amid strong demand.The company expects to produce around 33 million to 34 million carats in 2022, up to 5% more than this year, executives said last week in an investor call. Given the industry's low inventory levels, it's likely t...Read More
(IDEX Online) - BlueRock has halted operations at its Kareevlei mine, in South Africa, after being served with a safety breach notice. The Department of Mineral Resources & Energy (DMRE) issued the notice after identifying issues during a visit on 9 November.The UK-based miner gave no details of the safety concerns that had been raised.It said in a statement: "Management is working closel...Read More
RAPAPORT... Petra Diamonds will offer a pink rough weighing 32.32 carats at its first tender of goods from the Williamson mine in Tanzania since resuming operations at the site.The sale will take place in Antwerp from November 19 to 26, the company said Tuesday. A parcel of around 26,000 carats - including the pink stone of "exceptional color and clarity" - is available to customers, the mine...Read More
(IDEX Online) - Three gang members have been jailed over the highest-value house burglary in Britain - after they admitted stealing diamonds, jewelry and cash from the Formula One heiress Tamara Ecclestone (pictured).They made off with valuables worth $34m after targeting her home in Kensington Palace, London, while she and here family were on holiday. Police recovered hundreds of items of jewelry...Read More
RAPAPORT... BlueRock Diamonds has paused operations at its Kareevlei mine in South Africa after receiving notification from the government about a possible safety breach.The Department of Mineral Resources and Energy (DMRE) visited Kareevlei last week and subsequently issued a notice under Section 54 of the Mine Health and Safety Act, BlueRock said Monday. That part of the law enables inspect...Read More
RAPAPORT... A fancy-vivid-blue diamond is among the top items up for auction at the upcoming Christie's Jewels Online sale, where it is estimated to fetch up to GBP 500,000 ($673,314).The unmounted oval-cut, 1.02-carat stone is the most valuable jewel on offer at the sale, which will run until November 26 with viewings in London, Christie's said last week. A round brilliant-cut, 32.10-carat, S- to...Read More
RAPAPORT... The editorial team takes listeners on a wild ride through the GemGen??ve show, Magnificent Jewels auctions, and the state of the fancy-shape market in episode 51 of the Rapaport Diamond Podcast. Find out what pleased and disappointed Editor in Chief Sonia Esther Soltani as she reflects on her trip to Switzerland to attend GemGen??ve and preview the Sotheby's and Christie's sales....Read More
RAPAPORT... US retail sales of jewelry will increase sharply this Thanksgiving season as consumer sentiment continues to strengthen, according to a forecast by Mastercard SpendingPulse.The analytics provider predicted a 40% year-on-year jump for the category during the week from November 22 to 28, with sales also rising by the same percentage compared with the 2019 Thanksgiving holiday. Sales...Read More
RAPAPORT... US retail sales of jewelry will increase sharply this Thanksgiving season as consumer sentiment continues to strengthen, according to a forecast by Mastercard SpendingPulse.The analytics provider predicted a 40% year-on-year jump for the category during the week from November 22 to 28, with sales also rising by the same percentage compared with the 2019 Thanksgiving holiday. Sales...Read More
(IDEX Online) - Alrosa reported an 18 per cent drop in revenue for Q3 as rough shortages persistedThe lower revenue was largely in line with a 20 per fall in sales, though it was offset to a small degree by a higher price index (+10% qoq).Diamond sales in Q3 totaled 9.2m carats, including 700,000 carats Alrosa had to buy from the Gokhran state repository because of shortages from mines. Sale...Read More
(IDEX Online) - Scientists have identified a mineral that has been seen before, trapped inside a "super-deep" diamond.The mineral, named davemaoite, originates in the Earth's lower mantle, at least 660km below the surface, according to the current edition of New Scientist magazine.The fact that tiny davemaoite crystals were found inside a diamond means it must have been formed at that depth.&...Read More
RAPAPORT... A bevy of rare colored diamonds will be the stars of the upcoming Christie's sale in New York, with a 5.38-carat, fancy-vivid-orangey-pink stone among the top items.The cut-cornered rectangular mixed-cut, VS2-clarity diamond is estimated to bring in up to $3.2 million at the December 8 Magnificent Jewels sale, Christie's said last week. It will be joined by a necklace featuring a cut-c...Read More
RAPAPORT... Sarine Technologies' sales grew in the third quarter as the equipment maker benefited from a recovery in diamond manufacturing.Revenue jumped 63% year on year to $12.1 million, while net profit came to $1.9 million compared with a loss of $400,000 for the same period of 2020, the company reported Monday.Still, sales were lower than in each of the first two quarters of 2021, reflec...Read More
(IDEX Online) - Portuguese soldiers serving with UN peace-keeping forces in Central African Republic (CAR) are alleged to have used military planes to smuggle diamonds, gold and drugs to Europe.Over 300 police were involved in the execution of 100 arrest warrants last week in a series of raids at addresses across Portugal.As many as 90,000 people are involved in small-scale diamond production in C...Read More
(IDEX Online) - More than 900,000 carats of rough Australian sapphires are to be sold at what is being billed as the first auction of its kind.The event is being organized in Bangkok, Thailand, by Fura Gems, which says it will produce 5.5m carats of Australian sapphires this year, and almost double - 10m - in 2022.It describes the sale as "the first-ever, organized, global auction of Australian sa...Read More
(IDEX Online) - Baselworld has suffered a further setback with the cancelation of its 2022 show and the departure of its managing director.The iconic Swiss watch event, which last took place in 2019, has been hit by the wholesale departure of high-profile names exhibitors, the launch of a rival event by Rolex, Patek Philippe, and others, and Covid-related postponements and cancelations.The show, w...Read More
RAPAPORT... The Kimberley Process (KP) has elected Zimbabwe as the organization's future leader - and the Civil Society Coalition has said it's OK with that.The country, which has faced criticism for alleged human-rights abuses at mines, will take over as vice chair next year, the KP announced in a communiqu?(C) following last week's annual plenary. In accordance with the way the KP works, th...Read More
RAPAPORT... Brilliant Earth expressed optimism for the holiday season after recording a sharp jump in revenues during the third fiscal quarter.Sales rose 33% year on year to $95.2 million in the three months ending September 30, the US retailer said Friday in its inaugural earnings report as a public company. The total number of orders increased 30% to 28,855, while net profit slipped 51% to...Read More
RAPAPORT... Richemont's jewelry brands continued their recovery in the first fiscal half as shoppers returned in key markets.Jewelry sales across the group jumped 69% year on year to EUR 3.8 billion ($4.35 billion) for the six months ending September 30, the luxury giant reported Friday.Revenue from the company's jewelry maisons - Cartier, Van Cleef & Arpels, and Buccellati - rose 67% to...Read More
RAPAPORT... The personal luxury-goods industry will bounce back in 2021 amid increased spending from the US and China on shoes, leather items and jewelry, according to Bain & Company.Global sales of personal luxury goods will grow 29% year on year to EUR 283 billion ($324.01 billion), the consultancy company said in its Fall 2021 Luxury Report, released last week in conjunction with Altagamma,...Read More