RAPAPORT... Iris, you have been a strong advocate of sustainability for over 20 years. Why are the 17 Sustainable Development Goals (SDGs) so important now?The 17 SDGs are the sustainability agenda for the world as agreed by 193 countries. They are about people, prosperity, planet, peace and partnerships. They are about leaving no one behind. It is an excellent framework for any company to us...Read More
(IDEX Online) - Alrosa says it could increase production "marginally" this year, to address a surge in demand and shortfall in supply.In its Q2 & 6M IFRS Results, the miner suggests a possible increase of five per cent for 2021, from 30m cts to about 31.5m cts. That's slightly higher than actual production last year, of 30m cts.It said rough diamond sales for the first half of the year ($...Read More
RAPAPORT... An 11.9-carat Kashmir sapphire ring that sold recently at Fellows achieved one of the highest prices for a single item in the auction house's 145-year history, according to the company.Following what Fellows dubbed a "fierce bidding war," the ring fetched a hammer price of GBP 141,000 ($195,290) at the Fine Jewels auction in Birmingham, UK, and ultimately totaled GBP 175,980 ($243,888)...Read More
(IDEX Online) - British designer Jenny Sweetnam has launched a fine gold jewelry collection featuring hidden diamonds.Gems in the aptly-named Inverse Collection are tucked away inside the pieces, visible only when the wearer opens them up.Unseen Diamond Ring, for example, (pictured) is described as "a circle shaped silhouette that functions like a box, coming apart with an inner and outer wa...Read More
RAPAPORT... BlueRock Diamonds has recovered a 58.6-carat rough stone at its Kareevlei mine in South Africa, the company's largest to date.The stone is a D-color makeable - meaning it is suitable for having one large polished diamond cut from it - so the selling price will likely be "significant," said CEO Mike Houston in a Monday statement. He added, however, that it contained spotted black s...Read More
(IDEX Online) - Bidding opens today in what's billed as the world's first charity auction of lab grown diamonds.More than $75,000 of loose stones and lab grown pieces of jewelry are being sold in a joint venture by IGI labs and the Virtual Diamond Boutique (VDB) tech company in aid of the Jewelers for Children charity.Digital bids are made via VDB's dedicated app (pictured) and clos...Read More
RAPAPORT... The diamond market is showing contradictory signs as to whether the recent positive growth trend will continue for the remainder of this year and into 2022. Polished-diamond prices continue to rise even though inventory levels are also increasing, fueling concerns that the uptrend may not be sustainable. Meanwhile, diamond jewelry sales have bounced back and are exceeding pre-pandemic...Read More
(IDEX Online) - A pair of diamond pendant earrings sold for an Australian record price of US$590,000.They were the priciest lot in the online and phone auction by Melbourne-based Leonard Joel, selling mid-way between the high and low pre-sale estimates US$550,000 and US$620,000 (all prices IBP).The earrings (pictured) featured an 8.88-ct and an 8.76-ct diamond, both claw set, cushion modified bril...Read More
(IDEX Online) - The last ever Argyle Pink Diamonds Tender is to take place, following the closure of the iconic mine in Australia last November.A collection of 70 pink, red and blue diamonds, with a combined weight of 81.63 carats, will be offered to invited buyers, with bids closing on 1 October.Headline gem is the 3.47-ct Argyle Eclipse, the largest fancy intense pink diamond ever offered in the...Read More
RAPAPORT... US jeweler Stuller has decided to forgo attending the JCK Las Vegas shows amid a new wave of Covid-19 cases.The Louisiana-based jewelry wholesaler has been a longtime participant in the event. However, it believes the current state of the virus makes travel to the show unsafe for everyone involved, it said last week."With the recent resurgence of the Covid-19 Delta variant and its conc...Read More
RAPAPORT... Alrosa may increase its 2021 production plan in response to diamond shortages and rampant demand, management said after announcing sky-high quarterly results."The market is recovering faster than we predicted," commented Alexey Philippovskiy, the Russian miner's chief financial officer, in a statement Friday. "Meanwhile, diamond supply is still 20% below the pre-Covid-19 levels, a...Read More
(IDEX Online) - A New York designer is producing the ultimate in personalized jewelry by cutting rough diamonds into letters.They've overcome technical challenges to produce custom-cut Alphabet Diamonds - each weighing between 0.25-ct and 0.50-ct, with a platinum setting and hung on a 14-karat yellow gold chain.K Kane puts the emphasis on personalized jewelry. Customers can choose anything fr...Read More
(IDEX Online) - BlueRock has announced the recovery of a 21.56-ct diamond at its Kareevlei mine, in South Africa.It's the company's biggest ever rough stone, and is likely to become its most valuable when it is sold at tender later this month.The "exceptional quality" stone is expected to fetch significantly more than $236,000, the company's current record, set by a 20.7-ct diamond...Read More
RAPAPORT... "There's a lust toward trust," Leanne Kemp jokes as she explains the movement driving businesses to embrace sustainability. Since 2015, the company she founded and heads, Everledger, has been on a mission to facilitate that trend, using its blockchain-powered platform to help diamond and jewelry businesses keep a transparent record of their products' provenance. Everledger is not...Read More
(IDEX Online) - Pop icon Beyonce is to become the face of Tiffany & Co, along with rapper husband Jay-Z, in a deal revealed yesterday by Harper's Bazaar.The singer appears on the cover of the magazine's Tiffany-sponsored September issue, wearing a +21-ct Tiffany diamond. She is also featured inside in an interview and photoshoot.The appointment of the superstar couple follows the ann...Read More
RAPAPORT... The Gemological Institute of America (GIA) has awarded a $50,000 grant to help advance an initiative focused on eliminating the use of mercury in gold processing.The funds will enable Mercury Free Mining (MFM) and the Alliance for Responsible Mining (ARM) to evaluate new ore-testing processes, MFM said Wednesday. These have the potential to "significantly reduce or eradicate" the...Read More
RAPAPORT... Lusix, a producer of lab-grown diamonds, has received sustainability accreditation for its rough goods, enabling it to participate in the synthetics sector's push to present itself as ethically and environmentally sound.SCS Global Services carried out a third-party audit of the Israel-based company's operations that resulted in the producer receiving approval under the SCS 007 sta...Read More
Sentiment positive despite seasonal slowdown. Dealers filling orders but struggling to replace goods at current price levels. Polished prices firm even as inventory rises. Buoyant US retail driving the recovery; July jewelry sales +83%, reports Mastercard SpendingPulse. Overseas exhibitors frustrated by restrictions preventing travel to Las Vegas shows. Manufacturing profit margins under pressure...Read More
RAPAPORT... Lucara Diamond Corp.'s revenue rose more than sixfold year on year in the second quarter as demand for polished stones drove up rough prices.Revenue from the company's Karowe mine in Botswana soared to $46.3 million for the three months ending June 30 from $7.5 million a year ago, it said Wednesday. While sales volume remained flat at 68,961 carats, the average price jumped to $671 per...Read More
RAPAPORT... BlueRock Diamonds has cut its output guidance for the year amid an increase in Covid-19 cases and riots in South Africa that have impacted operations.The miner now expects to produce between 24,000 and 28,000 carats for the year from its Kareevlei mine, versus the 30,000 to 39,000 it originally predicted, it said Monday. Protests over the imprisonment of former president Jacob Zuma hav...Read More