RAPAPORT... The World Diamond Council (WDC) and the Antwerp World Diamond Centre (AWDC) have called on the trade to show extra care when handling rough that may have originated in the Central African Republic (CAR).The caution follows recent reports of attacks by rebel fighters on the capital, Bangui, and other major cities, the organizations said in a statement Thursday. Diamond buyers should pur...Read More
(IDEX Online) - Alrosa is to sell one of the largest diamonds it has recovered since 2000.It says the 242.31-carat gem-quality stone could fetch well over $2m.The rough stone will be offered for sale at the Russian state-owned miner's 100th auction of large diamonds, which will take place in Dubai on 22 March. Viewings are from 14 to 21 March.Two other notable diamonds- weighing 190.74-carats...Read More
RAPAPORT... Singer Beyonc?(C) Knowles-Carter and designer Lorraine Schwartz will pay for two Black industry professionals to earn a graduate gemologist degree from the Gemological Institute of America (GIA).The performer will choose the recipients of The Beyonc?(C) Knowles-Carter x Lorraine Schwartz GIA Scholarship, the organization said Friday. Each will receive full tuition and paid expenses for...Read More
RAPAPORT... The Diamond Manufacturers & Importers Association of America (DMIA) has elected Stuart Samuels of Premier Gem Corp. as president. He succeeded Ronnie Vanderlinden on February 9 for a two-year term.The DMIA also named five vice presidents: Saul Goldberg, Eli Haas, Hertz Hasenfeld, Matthew Schamroth and Parag Shah. Russell Kwiat will take over as secretary and Marc Knobloch as t...Read More
(IDEX Online) - De Beers posted a $102m loss for 2020 as the pandemic took its toll, compared with a $45m profit the previous year.It's the first time it's dipped into the red since 2008, when parent company Anglo American provided an $800m rescue package of interest-free loans. Underlying EBITDA (earnings before interest, taxes, depreciation, and amortization) for last year fell to...Read More
RAPAPORT... De Beers is embarking on a tracking program for the diamonds it supplies to sightholders, as the miner seeks to enhance its use of data and ensure customers create value from the rough they buy.The company will ask manufacturers for information on polished outcomes under its new supply contract, which goes into effect in April, Rapaport News has learned. This will allow De Beers t...Read More
(IDEX Online) - Lucapa has recovered the largest Type IIa D-color white diamond at its Mothae mine, in Lesotho, since operations began there in 2019.The 215-carat gem (pictured) is the mine's second +200-ct and the fifth +100-ct diamond.Last month the Australian miner achieved its highest ever per-carat price from Mothae - $1,198 - in a sale included that included a Type IIa 101-carat D...Read More
(IDEX Online) - An Indian laborer who leased a small patch of land in Panna in search of diamonds has recovered one of the biggest gems in recent times.Rampyare Vishwakarma and his partners found a 14.09-ct diamond, which could fetch $95,000 when it is auctioned next month.Small-time prospectors typically pay $2.70 for the six-month rights to a 25ft by 25ft patch in an impoverished area of Panna,...Read More
RAPAPORT... De Beers recorded its first annual loss since the aftermath of the global financial crisis as rough sales and prices slumped during the Covid-19 pandemic.The miner's underlying loss came to $102 million in 2020, compared with a profit of $45 million in 2019, parent company Anglo American reported Thursday. De Beers had not been in the red since 2009, according to Rapaport records....Read More
(IDEX Online) - Alrosa is to re-open its Severalmaz ore processing plant, as global demand returns.The plant, which accounts for about 11 per cent of the miner's annual rough diamond output, ceased operations last October. It was scheduled to re-open on 1 April, but that has been brought forward to 1 March as the markets recover more quickly than expected. Processing was also suspen...Read More
RAPAPORT... Revenue at Michael Hill fell 2.9% year on year to AUD 319.9 million ($255.7 million) in the first fiscal half amid coronavirus-related closures and a drop in foot traffic.Same-store sales - at retail locations open for at least a year - rose 6% for the six months ending December 27, reflecting the Australian jeweler's continued focus on strategic initiatives to update its business. Net...Read More
Positive outlook for 2021 amid steady jewelry sales in US and China. Polished inventory rising. More goods going to GIA for grading. Rough market buoyant as De Beers and Alrosa raise prices again by 3% to 5%. Manufacturing profit margins may come under pressure as slower summer season approaches. De Beers 2020 revenue -27% to $3.4B, loss of $102M vs. 2019 profit of $45M. Rio Tinto 2020 diamond sal...Read More
RAPAPORT... US polished-diamond imports fell 39% to $11.82 billion last year, reflecting heavy declines in the second quarter, according to data from the US Commerce Department. The slowdown eased in the latter part of the year, with December shipments slipping by just 2% year on year.US Trade Data for December and FY 2020 Read More
RAPAPORT... Alrosa raised prices at its contract sale last week as the rough market continued to recover following the coronavirus-related slowdown.The increases for the February trading session were around 3% to 4% on average, with sharper rises in some categories, insiders told Rapaport News this week. Since August, the Russian miner has given customers a non-itemized invoice, making it har...Read More
RAPAPORT... Lucapa Diamond Company recovered a 215-carat rough from its Mothae mine in Lesotho, the largest high-quality stone it has found at the deposit.The D-color, white, type IIa diamond is the second stone over 200 carats the miner has unearthed since it began commercial operations at the site in 2019, it said Wednesday. The other, a 220-carat, low-quality stone, was discovered in November 2...Read More
RAPAPORT... Jewelry was one of the best-performing categories at Macy's during the fourth fiscal quarter, even as overall sales faltered at the department-store chain.Group revenue dropped 19% year on year to $6.78 billion in the three months ending January 30, while comparable-store sales - at owned and licensed shops open for at least a year - fell 17%, the retailer reported Tuesday. However, ta...Read More
(IDEX Online) - GIA has reported new instances of gems being submitted for grading with fraudulent inscriptions.The diamonds were either lab-grown or treated naturals but bore inscriptions on their girdles relating to natural or untreated stones.Last month its Johannesburg lab identified three cases of synthetic moissanite being passed off as diamonds, all bearing fake inscriptions.In the more rec...Read More
(IDEX Online) - De Beers has reportedly increased prices for the third Sight in a row, as demand for rough keeps getting stronger.The UK-based miner doesn't comment on prices but insiders say they're up four per cent, especially among stones over one-carat, at the Sight in Gabarone, Botswana, that concludes on Friday.Prices were reportedly up by five per cent last month, when De Beers so...Read More
(IDEX Online) - Lucara reported a fall in revenue and per-carat prices during the pandemic as it held back the large stones (+10.8-cts) that usually represent 70 per cent of its sales. They'll start selling them next month.But the Canadian miner said it was looking forward to increased demand and the $514m extension of its Karowe mine, in Botswana.It reported a net loss for the year to 31 Dec...Read More
RAPAPORT... The Gemological Institute of America (GIA) has recently received "a number of" lab-grown or treated stones carrying natural-diamond reports and fake inscriptions, the organization warned.Clients submitted the stones for updated reports or verification services, but the grading documents that came with the goods did not match the stones, the GIA explained Tuesday. The weights and g...Read More