Diamond Stocks Articles

Rapaport Publishes Diamond Price Statistics Review

Jan 19, 2021 / Rapaport

RAPAPORT PRESS RELEASE, January 19, 2021, New York... The Rapaport Group has released its Diamond Price Statistics Annual Report for 2020, evaluating the performance of polished-diamond prices. The report provides an in-depth analysis of the past year's trends, and compares the price changes within specific diamond categories.The Rapaport Diamond Index (RDI?,,?), which tracks changes in the R...Read More

De Beers and Alrosa Raise Rough Prices

Jan 18, 2021 / Joshua Freedman

RAPAPORT... The two largest diamond miners increased prices at this week's rough sales as demand improved due to post-holiday restocking and strong trading ahead of the Chinese New Year.De Beers raised prices by an average of 4% to 5% at its first sight of 2021, while Alrosa's increases were around 6% to 7%, industry insiders told Rapaport News Monday. Both companies implemented steeper hikes...Read More

Canada Lockdown Weighs on Michael Hill

Jan 18, 2021 / Rapaport News

RAPAPORT... Michael Hill's sales slipped 2.8% in the first half of its fiscal year as a lockdown in Canada outweighed growth in the Australian market.Group revenue decreased to AUD 317.5 million ($243.6 million) during the six months ending December 27, as 21 of the company's 86 stores in Canada closed during the November-to-December period, the jeweler reported last week. A further 25 shops in th...Read More

Jewelry Industry Fares Well Overall on Racial Justice

Jan 18, 2021 / Rapaport News

RAPAPORT... Members of the US jewelry industry are happy overall with the level of racial justice and equality found across the trade, according to a diversity survey Jewelers of America (JA) and National Jeweler conducted.Nearly three-quarters of employers polled in the jewelry sector, and more than half of employees, reported their companies ranked very well when it came to these matters, JA sai...Read More

Divorcee Donates $3,500 Diamond Rings to Deserving Couple

January 18, 21 / John Jeffay

(IDEX Online) - Divorcee Christine Bonavita is giving away her wedding and engagement rings, with a combined value of over $3,500, to a deserving couple who faced adversities last year."I have seen such kindness out there in my darkest hour, so I know what it's like to struggle," she said.Christine, 39, from Norfolk, Virginia, USA, married in 2010, divorced a year ago, and is a marking the an...Read More

Podcast: Digital or Bust?

Jan 18, 2021 / Rapaport News

RAPAPORT... Diamond and jewelry companies have raised the stakes when it comes to using online platforms to engage with clients and consumers. But what does it mean to be digitally relevant in today's ever-changing e-commerce and social-media space?In the first episode of Rapaport's podcast series, "Technology and the Diamond Trade," sponsored by Sarine Technologies, Rapaport Senior Analyst A...Read More

Mothae Mine Hit by Second Covid Closure

January 18, 21 / John Jeffay

(IDEX Online) - The Mothae mine in Lesotho has been closed for a second time by coronavirus.The country is in a 14-day lockdown as it suffers an unprecedented spike in infections.The deposit, jointly operated by Australian miner Lucapa and the Lesotho government, closed last March, largely as a precaution.The pandemic had barely touched the tiny landlocked nation at the time, but earlier this mont...Read More

Signet's Online Sales up 61 per cent over Holiday Season

January 18, 21 / John Jeffay

(IDEX Online) - Signet enjoyed a 61 per cent surge in e-commerce over the holiday season.Total sales for the nine-week period in 2020 were $1.8bn, the same as the previous year, according to its preliminary trading update.The emphasis is shifting from bricks and mortar, with the closure of 355 stores in lower-traffic shopping malls and the expansion of online channels as an alternative.Signet, the...Read More

Karowe Yields First Large Diamond of 2021

Jan 17, 2021 / Rapaport News

RAPAPORT... Lucara Diamond Corp. has unearthed a 341-carat white diamond at its Karowe mine in Botswana, the first over 100 carats the deposit has produced this year.The miner recovered the "high-quality," unbroken stone from the site's south lobe M/PK(S) area, known for its large, high-quality rough, it said last week.The newest find is the 54th 200-carat-plus diamond Karowe has yielded since 201...Read More

US Holiday Sales Outstrip Expectations - NRF

Jan 17, 2021 / Rapaport News

RAPAPORT... US retail sales increased 8.3% during the recent holiday season, as consumers looked to connect with family and friends during the pandemic, the National Retail Federation (NRF) said.Consumers spent $789.4 billion over the November-to-December period, according to the NRF, which bases its numbers on figures from the US Census Bureau. That total exceeded the NRF's prediction of a 3.6% t...Read More

US Jewelry Bosses "Could do Better" at Racial Diversity

January 17, 21 / Staff reporter

(IDEX Online) - Employers in the US fine jewelry industry rate themselves highly when it comes racial justice, but don't necessarily practice what they preach, says a major new survey.Seven out of 10 rated themselves as "very good" at racial justice and equity in a survey about diversity and inclusion conducted by trade association Jewelers of America and National Jeweler magazine.But only 41...Read More

De Beers Ditches 10 Sight Holders in Major Shake-up

January 17, 21 / John Jeffay

(IDEX Online) - De Beers has reportedly ditched around 10 of its 80 Sight holders as it seeks to exert more control over diamond pricing.It has also introduced new contracts dividing buyers into three categories - dealers, manufacturers and integrated retailers - as it embarks on a huge and much-heralded shake-up of the way it sells rough.The UK-based miner aims to put its diamonds into the hands...Read More

Plea to Cut India's Import Duty on Gems and Precious Metals

January 17, 21 / John Jeffay

(IDEX Online) - India's government must reduce import duties on precious metals and diamonds, or face a surge on smuggling and other criminal activity, an industry bodies has warned.The All India Gem and Jewellery Domestic Council (GJC) is seeking a reduction from 12.5 per cent to four per cent on gold, silver and platinum in next month's budget. "If the tax rate is kept at this lev...Read More

NGO Warns Petra Lenders About Abuse Claims

Jan 17, 2021 / Rapaport News

RAPAPORT... Rights and Accountability in Development (RAID), a UK-based nonprofit, has written to Petra Diamonds' major debt holders to raise concerns about alleged human-rights abuses at its Williamson mine in Tanzania.RAID claims to have documented at least seven deaths and 41 assaults by security workers at Williamson since Petra acquired the mine in 2009. It detailed the allegations in No...Read More

De Beers Cuts Clients, Keeps More Goods in Africa

Jan 17, 2021 / Joshua Freedman

RAPAPORT... De Beers has reduced its sightholder list in a revamp of its supply system, with more goods expected to go to pure-play manufacturers, especially those with Africa-based factories.The new list features fewer diamond dealers than before, as De Beers wants as many clients as possible to be adding value by processing goods into marketable polished rather than reselling the rough, ins...Read More

Rapaport Weekly Market Comment

Jan 14, 2021 / Rapaport News

Polished sentiment positive despite limitations on travel due to Covid-19. Shortages supporting prices. Suppliers anticipate strong 1Q inventory replacement after relatively good US holiday season. Signet Jewelers Nov.-Dec. revenue flat at $1.8B, same-store sales +5.6%, with strong +61% increase in e-commerce. Rising expectations for Feb. 12 Lunar New Year as retailers see robust China recovery. C...Read More

Signet Sees Surge in Holiday E-Commerce Sales

Jan 14, 2021 / Rapaport News

RAPAPORT... Signet Jewelers reported a positive holiday season as soaring online sales helped compensate for the pandemic's adverse impact on store traffic.Revenue was flat year on year at $1.8 billion for the nine weeks ending January 2, while same-store sales jumped 5.6%, the retailer reported Thursday in a preliminary trading update. E-commerce sales surged 61%, offsetting a 4.1% drop in s...Read More

Mountain Province Output Slides in 2020

Jan 14, 2021 / Rapaport News

RAPAPORT... Mountain Province's share of production at the Gahcho Ku?(C) mine fell 4% to 3.2 million carats in 2020 as the company struggled with coronavirus-related restrictions to its operations.Total output for the mine fell 4% to 6.5 million carats for the full year, the company said Wednesday. However, that figure was higher than the company's revised guidance of between 6.3 million and...Read More

What to Expect in the Industry This Year

Jan 14, 2021 / Leah Meirovich

RAPAPORT... Three industry insiders share their predictions for the diamond and jewelry trade in 2021.Elle Hill CEO of industry consulting firm Hill & Co. While many bemoan 2020 as a year they would like to forget, the challenges 2020 laid at our doorstep created the necessity to reimagine almost everything about the way we do business - proving that necessity is the mother of invention....Read More

Lucapa Puts Lesotho Mine on Lockdown

Jan 14, 2021 / Leah Meirovich

RAPAPORT... Lucapa Diamond Company will temporarily close its Mothae mine in Lesotho during a 14-day nationwide lockdown.Starting Thursday, the company will put the deposit on care and maintenance for two weeks to ensure the health and safety of its workers, it said Wednesday. The suspension will likely put Lucapa slightly behind its production plan for the first quarter, but should not affect it...Read More

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