RAPAPORT... Trust, reputation, integrity - these words are central to the diamond trade. "Our business is like no other in that we've always conducted it on a handshake," says Maximo Quinones, president and CEO of wholesaler DVG Diamonds in Miami, Florida.But these lofty ideals have also been tested, especially regarding the sale and use of conflict diamonds. In 2003, the Kimberley Process (K...Read More
(IDEX Online) - Authorities in Angola have seized almost 2,500 diamonds from illegal buyers as part of a long-running crackdown on illicit gem trafficking.They launched Operation Transparency in December 2018, targeting the eastern Lunda Norte province, where there are an estimated 700 illegal mining sites.The country's Criminal Investigation Service (SIC) seized 2,477 diamonds, plus cash equ...Read More
RAPAPORT... A new company created by the founder of RDI Diamonds has received government approval to manufacture rough produced in Canada's Northwest Territories.Diamonds de Canada, set to open this fall, will provide jobs and training for local residents of the arctic region, the Government of the Northwest Territories (GNWT) said last week. The decision will help ensure that manufacturing a...Read More
RAPAPORT... Sales at jeweler Chow Sang Sang jumped in the first half of the year as the Hong Kong-based retailer broadened its store network in China and benefited from increased domestic spending."Jewelry and watch sales in all markets...exhibited [a] remarkable recovery," the company said last week. "[The] mainland jewelry retail market showed a rapid return to [the] pre-Covid-19 growth trend. C...Read More
(IDEX Online) - Lightbox is to sell bigger lab grown diamonds - up to two carats - at the same flat rate of $800 per carat.It is also introducing a premium lab grown range, called Finest, of stones guaranteed to be VVS clarity, colorless D, E, F with an excellent cut.Both moves suggest the De Beers company sees increasing potential in the lab grown sector.Last November it opened a $94m factory nea...Read More
RAPAPORT... Belgium's polished-diamond exports increased in July, though the growth was gentler than in previous months as the market began to stabilize. Rough trading saw a sharp rise, according to recent data from the Antwerp World Diamond Centre (AWDC), as miners continued to sell large volumes in response to strong demand.Belgium Trade Data for July 2021 Read More
(IDEX Online) - A 24.45-carat heart-shaped diamond fetched just over $2m in an online auction by Christie's.The Type IIa stone was graded by GIA as D color, internally flawless, excellent polish and symmetry.It was set in a platinum pendant necklace with a 1.37-carat, D-color, internally flawless pear-shaped stone.The piece, headlining the Summer Sparkle sale, sold for $2.01m. Its pre-s...Read More
(IDEX Online) - The Natural Diamond Council (NDC) is targeting consumers with a series of nine ads highlighting the industry's commitment to sustainability.The omnichannel campaign, called Thank You, By the Way, is supported by the Responsible Jewellery Council (RJC).It focuses on socioeconomic and community benefits, and carry tag lines such as:"Your natural diamond helps provide access to h...Read More
Las Vegas shows open with positive sentiment but fewer exhibitors and light traffic. Serious buyers attending. Dealers hoping JCK will signal start of holiday buying after 3Q slowdown. Polished inventory rising but shortages remain. Difficult to find top-quality diamonds. Rising expectations for holiday season, but retail growth starting to decelerate. Jewelry ranks among top-selling categories fo...Read More
RAPAPORT... De Beers is introducing a new program called "Code of Origin" that enables retail jewelers to sell the miner's diamonds and tap into its branding. The initiative is part of a wider effort to raise the company's profile among consumers.The program, which is in the development stage and will be scaled up over the next year, is structured to give designers and retailers greater acces...Read More
RAPAPORT... The artisanal and small-scale (ASM) mining sector plays an important role in the diamond industry, accounting for around 25% of global supply by volume. However, the sector is largely informal, using rudimentary technology and processes. Miners often lack access to capital, the knowledge to carry out mining safely and in an environmentally responsible manner, or access to the inte...Read More
(IDEX Online) - The Government of the Northwest Territories (GNWT) has approved Diamonds de Canada Ltd. as an Approved NWT Diamond Manufacturer. The agreement ensures that Diamonds de Canada has access to NWT-mined rough diamonds, and that its manufacturing activities, which include cutting and polishing, take place in the Northwest Territories, the GNWT said in a statement. The company has...Read More
(IDEX Online) - The De Beers Group has unveiled its new strategy to connect consumers to its social purpose and engage them directly with its Building Forever mission to achieve ambitious sustainability goals by 2030. The new approach was presented at the JCK Luxury Breakfast during the keynote speech by De Beers Executive Vice Presidents Stephen Lussier and David Prager under the theme Th...Read More
(IDEX Online) - Sarine Technologies Ltd has announced that diamond retailers and wholesalers can now easily search for Sarine traced diamonds on IDEX Diamond Trading Network. Sarine, a worldwide leader in the development, manufacturing, marketing and sale of precision technology products for the evaluation, planning, processing, measurement, grading and trading of diamonds and gems, said th...Read More
RAPAPORT... Petra Diamonds has sold two special stones from its Cullinan mine in South Africa into a partnership with diamond sourcing and supply company Stargems.The South African subsidiary of Dubai-based Stargems Group purchased a 342.92-carat, white, type IIa diamond for an upfront payment of $10 million, Petra said Wednesday. The same buyer also paid $3.5 million for an 18.30-carat, blue...Read More
RAPAPORT... In the corridors of the Kimberley Process (KP) intersessional and plenary meetings, smartly dressed men and women exchange pleasantries as they gather to review progress in the KP implementation. Various working groups submit reports that all indicate great progress in ensuring traceability of diamonds and the ability of the scheme to stem out conflict diamonds. The generally agre...Read More
(IDEX Online) - Petra Diamonds Limited has sold a 342.92 carat Type IIa white diamond (previously announced on 28 July) and an 18.30 carat Type IIb blue diamond, both recovered at the Cullinan Diamond Mine in South Africa. The stones have been sold into a partnership with Stargems (Pty) Ltd. Petra will receive an upfront payment of US$10.0 million for the 342.92 carat stone and US$3.5 milli...Read More
RAPAPORT... For consumers and media alike, the concept of sustainability is a hot topic, and rightly so. But the reality is that most consumers do not take the time to truly understand the positive and negative impacts of their purchases. We use cell phones constantly, but do we ever question the impact of technology production on the planet? Currently, there is a simplification of the broade...Read More
(IDEX Online) - De Beers and National Geographic have launched Okavango Eternal, a strategic partnership to address one of the most critical conservation challenges in Africa. The aim is to protect the source waters of the Okavango Delta in Botswana and the lives and livelihoods they support. The five-year commitment, which will help protect Africa's endangered species, ensure water an...Read More
(IDEX Online) - Angola's major diamond mine, Catoca, leaked a red-colored waste last month, causing waterways to fill with sediment before the leak was repaired, Catoca Mining Company said in a statement seen by Reuters. Congolese researchers on Friday said pollution caused by a leak from a tailings dam, used to store waste mining material, had turned rivers red and caused fish to die...Read More