(IDEX Online) - Petra has reclassified the mothballed Williamson mine, in Tanzania, as an "asset held for sale", prompting speculation that it could sell the deposit in Tanzania.The London-based miner says Williamson has been "classified as an asset held for sale for financial reporting purposes" in its preliminary annual results published last week.It says that as a discontinued mine it represent...Read More
(IDEX Online) - Alrosa is to offer online bidders additional information - such as color assessments, fluorescence intensity and descriptions of defects - in digital auctions starting today.The Russian miner began testing the digital diamond sales format in autumn 2019, and held its first digital auction for special-size rough diamonds (+10.8 carats) the following year.It says it aims to make digi...Read More
RAPAPORT... The World Diamond Council (WDC) has upgraded its System of Warranties program to cover a broader set of commitments when doing business in the diamond industry.The new System of Warranties (SoW) statement asks sellers of diamond jewelry and rough and polished diamonds to support the universally accepted principles of human and labor rights, anti-corruption, and anti-money launderi...Read More
RAPAPORT... HRD Antwerp discovered a fake inscription on a 1.50-carat polished diamond the lab had received for grading. The stone had a Gemological Institute of America (GIA) laser inscription corresponding to a natural grading report, HRD said Monday. The accompanying report listed the stone as a natural diamond with no color treatments and it was further identified as type IIa,...Read More
(IDEX Online) - Rhianna dazzled in over 267 carats of Bulgari high jewelry and archival diamonds when she appeared at the highlight event of New York's social scene. She wore three necklaces by the iconic Italian jeweler to the Met Ball - annual fundraiser for the Metropolitan Museum of Art's Costume Institute - together with a dramatic black enamel ring by Thelma West a...Read More
(IDEX Online) - Pandora aims to double its revenues in the US and triple them in China as it enters a "new chapter of growth".The Danish jeweler, best known for its charm bracelets, will build a huge new factory in Vietnam to supplement current production in Thailand. It said it would be investing $160m expanding its manufacturing facilities to produce an additional 80m pieces a year.The comp...Read More
(IDEX Online) - Operators of the Catoca diamond mine, in Angola, is insisting it is not to blame for a toxic leak that killed 12 people in the neighboring Democratic Republic of Congo (DRC).It has been collecting water samples since Thursday and says laboratory tests will prove it was not responsible."The results of this expedition aim to refute the accusations made by the Democratic Republic of C...Read More
(IDEX Online) - A gang smashed glass cabinets then fled with jewelry and Rolex watches in a lightning raid that was over in just 20 seconds.At least seven hooded thieves targeted Infinity & Co jewelers at a mall in Daly City, San Mateo County, California, USA, last Wednesday evening. "They all came at the same time and start hitting our cases," manager Grace James told local TV station KP...Read More
(IDEX Online) - A suspected jewel thief was trapped after he was sprayed with invisible synthetic DNA.He was arrested after a theft at at Truman Jewelers, Albany, New York, USA.The technology, used to mark high-value items, has been used for several years in the UK, but is new to the USA.Micro-dots of DNA remain on the culprit's skin and clothes for six weeks or more. They contain unique iden...Read More
RAPAPORT... Alrosa has completed the first phase of a study into how it can offset greenhouse gas emissions by storing them in kimberlite.The Russian miner's preliminary research focused on the chemical processes that occur in ore that is ready to be disposed of, it said last week. Alrosa compared that to ore samples in various stages of their life cycles, including extraction, processing and post...Read More
RAPAPORT... Investment firm Compass Diversified has acquired designer, manufacturer and retailer Lugano Diamonds & Jewelry for $256 million.US-based Lugano, which designs high-end pieces, will continue to be led by its current team, Compass said last week. The jeweler's existing owners will retain a significant minority stake in the company.The deal will enable Lugano to continue its growth tr...Read More
(IDEX Online) - De Beers' new diamond recovery vessel, the largest of its kind in the world, has set sail from a shipyard in Romania to be fitted with mission equipment for work off the Namibian coast.The $470m ship will use sub-sea crawling extraction techniques to retrieve marine diamonds from the seabed, which will then be processed on board.It was commissioned by Debmarine Namibia, a 50/5...Read More
RAPAPORT... US retail sales saw a surprising rise in August as consumer demand remained steady even amid financial downturns and supply-chain challenges, the National Retail Federation (NRF) said.Revenue grew 0.7% versus the previous month and jumped 15% over the same period a year ago, according to data the US Census Bureau reported last week. That compares to a 1.8% month-on-month decline in Jul...Read More
(IDEX Online) - Two pairs of ancient jewel-encrusted glasses - one with emerald lenses, the other with diamonds - will be sold by Sotheby's New York next month.Both pairs carry estimates of $2.1m to $3.5m.They are believed to have belonged to members of the Mughal Empire, which ruled over the Indian subcontinent during the 17th century.The "Gate of Paradise" glasses (pictured) have lenses bel...Read More
RAPAPORT... The annual Kimberley Process (KP) plenary will take place online and in person from November 8 to 12, with the digitization of certificates featuring at the top of the agenda.The hybrid format enables the KP to continue its activities despite the restrictions resulting from the coronavirus pandemic, Russia's Finance Ministry, which is chairing the organization this year, said last...Read More
(IDEX Online) - Alrosa is to help revive the only commercial diamond mine in the Democratic Republic of Congo (DRC). The move follows the death of 12 people in DRC from a toxic leak at a diamond mine in which Alrosa holds a 41 per cent stake.DRC has said it will seek compensation in line with the "polluter pays" principle after tailings from the Catoca mine, in neighboring Angola, poiso...Read More
(IDEX Online) - Israel's net polished diamond exports were up 71 per cent year-on-year in the first half of 2021, to $2.37bn as its post-lockdown bounce back continued.Imports increased 136 per cent to $1.88bn in the same period, according to figures released on Sunday by the Ministry of Economy and Industry.There were even bigger increases in rough imports and exports. Net imports of rough w...Read More
(IDEX Online) - Trans Atlantic Gem Sales (TAGS) reported softer demand for rough after its latest sale in Dubai ended last week.It sold around 85 per cent of the 20,000 carats offered, after withdrawing a number of parcels that didn't reach their reserves.In all it sold 17,157 carats for a total of $36.3m. By comparison in July it sold all 43,343 carats on offer and raised $62.6m, its highest...Read More
RAPAPORT... The diamond industry owes much of its current uptrend to US consumer demand for jewelry. The major retail jewelers are seeing record sales, and the independents are celebrating "Christmas every day," as one store owner put it at the recent JCK Las Vegas fair. The rebound was also evident in the amount of business taking place during Las Vegas jewelry week in late August, which inc...Read More
RAPAPORT... Alrosa has signed an agreement with the state-owned diamond company in the Democratic Republic of the Congo (DRC) that will see the pair work together on exploration, mining and processing of rough.The Russian miner and the Bakwanga Diamond Company (Miba) will share technological, scientific and technical information to enable them to increase business in the diamond industry, Alrosa s...Read More