RAPAPORT... Rio Tinto will unveil a record number of diamonds over one carat at its final pink-diamond tender, including the largest fancy-intense pink it has ever offered for sale.The 3.47-carat stone, known as the Argyle Eclipse, will headline the Argyle Pink Diamonds Tender, which has run since 1984. The tender comprises 70 rare polished colored diamonds originating from the Australian mine, Ri...Read More
RAPAPORT... Forevermark will change its name to De Beers Forevermark, enabling the retail brand to capitalize on the miner's reputation and sustainability efforts, a spokesperson confirmed to Rapaport News last week."Creating a stronger association between the De Beers name and Forevermark will deliver benefits for Forevermark partners and customers alike, by providing a deeper connection to...Read More
(IDEX Online) - A record-breaking 204.36-carat fancy intense yellow diamond is to be auctioned by Christie's New York, with a high estimate of $5.5m.The Dancing Sun (pictured) is the largest polished diamond produced in North America since the first mine opened there 30 years ago. It has been graded by GIA as natural color, VVS2 clarity, excellent polish and symmetry.It was cut from the...Read More
(IDEX Online) - The final collection of pink and other rare diamonds from the iconic Argyle mine is to be sold, with bids closing on 1 September.It marks the end of an Tera for the deposit in the in the remote east Kimberley region of Western Australia, which has provided the overwhelming majority of pink diamonds globally since 1982.Seventy diamonds with a combined weight of 81.63 carats will be...Read More
(IDEX Online) - The flaws that reduce the value of a diamond are helping scientists how our planet was formed.They've developed new techniques that allow them to tell the age of a diamond from tiny "microinclusions" of fluid trapped during its formation.A team at The Earth Institute, Columbia University, USA, has examined diamonds from Africa and identified three distinct periods in which the...Read More
(IDEX Online) - Alrosa reported preliminary rough and polished sales of $401m in April, as demand remained "sustainably robust".By comparison, last April saw sales slow to a virtual standstill - $15.6m - as Covid caused a global shutdown.Alrosa's monthly sales from January to April 2021 have averaged $390m.Last month the Russian state-owned miner said it would give shareholders their biggest-...Read More
(IDEX Online) - A personalized wristwatch made for the artist Pablo Picasso is to be auctioned.The letters of his name are spelled out by the hour markers of the otherwise unremarkable Swiss stainless steel timepiece, made by the little-known Michael Z. Berger Co in 1960.As Bonhams Paris point out in their auction notes, Picasso had the good fortune to have a name of exactly 12 letters. "It i...Read More
(IDEX Online) - An historic pearl and diamond tiara from the Spanish royal family sold for $1.6m at Sotheby's Geneva.It was a gift to Maria Vittoria dal Pozzo from her father on her marriage in 1867 to Amedeo of Savoy, Duke of Aosta, who was later elected King of Spain as Amadeo I (1870 until his abdication in 1873). She became Queen Maria Vittoria of Spain and died nine years later, aged jus...Read More
(IDEX Online) - Petra Diamonds has agreed a $6m settlement, with no admission of liability, over claims that it breached the human rights of illegal miners at its Williamson mine, in Tanzania.It follows a hard-hitting NGO report and a legal case brought on behalf of 71 people who alleged they suffered abuse at the hands of Petra's security personnel.The UK-listed miner, which bought the huge...Read More
RAPAPORT... Lucapa Diamond Company has unearthed a 138-carat rough diamond from its Lulo alluvial mine in Angola, it said Thursday.The company found the stone at the site's Mining Block 46 portion of the mine, which is adjacent to the area where Lucapa is conducting its exploration for the primary source, or mother lode, of the deposit's diamonds. The stone is the seventh over 100 carats Lucapa ha...Read More
RAPAPORT... Petra Diamonds has agreed to pay $6 million (GBP 4.3 million) to settle violence claims at its Williamson mine in Tanzania.Some 71 anonymous claimants brought accusations of human-rights breaches at the site over several years. UK-based nonprofit Rights and Accountability in Development (RAID) documented at least seven deaths and 41 assaults by security workers at Williamson since...Read More
RAPAPORT... Mountain Province has taken out an additional $33 million loan from its largest investor to cover the loss of income caused by the cancellation of its May diamond tender.The miner will receive the short-term loan on top of its existing $25 million revolving-credit facility from Dunebridge Worldwide, whose owner is a 32% shareholder in the company, Mountain Province said Wednesday. Moun...Read More
RAPAPORT... Industry leaders in Antwerp visited Angola this week in search of closer trade relations with the up-and-coming diamond-producing nation.The African country sells only a fraction of its rough diamonds to Belgium, with 90% of goods reportedly going to Dubai. Some 20 CEOs from Antwerp-based diamond companies met with local officials to explore a stronger collaboration, the Antwerp W...Read More
(IDEX Online) - Mountain Province Diamonds has arranged a short-term $33m loan with Irish billionaire Dermot Desmond, to ease its "near term liquidity needs".The Canadian miner has struggled with the three-week Covid-enforced closure of its Gahcho Kue mine (pictured), which in turn forced it to cancel its May diamond sale in Antwerp.That, combined with the high costs of maintaining its winter acce...Read More
RAPAPORT... A diamond weighing nearly 101 carats was the star of the Christie's Geneva auction, bringing in more than $14 million.The rectangular-cut, D-color, internally flawless stone, called the Spectacle, fetched $141,000 per carat at the May 12 Magnificent Jewels sale, which garnered $63.5 million in total, Christie's said Wednesday. Manufactured from a rough mined at Alrosa's Zarnitsa pipe i...Read More
Diamond market restrained due to supply bottleneck as Covid-19 spike in India curbs manufacturing. Trading shifting to Antwerp and other centers. Surat production focusing on larger goods as factories struggle with absenteeism and social distancing rules. Steady interest in 1 to 2 ct., D-J, VS-SI diamonds. Good US demand; April jewelry sales +255%, Mastercard reports. China seasonally quiet. Rough...Read More
RAPAPORT... India's jewelry industry could lose business to rivals such as China and Mexico if the US goes ahead with its proposed new tariffs on the sector, industry leaders warned this week.Fresh import duties would jeopardize jobs and the well-being of the industry in both India and America, officials from the southern Asian nation said Monday in a meeting with the US Trade Representative...Read More
RAPAPORT... The Coloured Gemstones Working Group (CGWG) has launched a platform that will provide free resources on sustainability and other issues to all those who work with colored gems.CGWG was started by jewelry retailers Chopard, Kering, LVMH, Richemont, Swarovski, and Tiffany & Co., as well as colored-gemstone miners Gemfields and Muzo, with the goal of creating positive change in the in...Read More
RAPAPORT... Alrosa's sales jumped in April as manufacturers continued to restock amid rising demand for diamond jewelry in key markets.Revenues from rough and polished diamonds climbed to $401 million for the month, compared with $15.6 million a year earlier, reflecting a favorable comparison with the peak of the coronavirus crisis last year. Sales also rose 12% versus March, the Russian mine...Read More
RAPAPORT PRESS RELEASE, May 12, 2021, Mumbai ... The Rapaport Group is pleased to announce the appointment of Prashant Bhojani as the new Chief Marketing Officer for Rapaport India.Bhojani (pictured) will drive the marketing and communication activities of Rapaport India. He will lead the marketing of a powerful set of new initiatives that will add value for Rapaport's Indian clients while continu...Read More