RAPAPORT... Around eight diamond-cutting businesses in Surat have closed parts of their factories after a coronavirus outbreak.Authorities ordered the shutdowns after 20 to 23 workers tested positive for the virus, Colin Shah, chairman of the Gem & Jewellery Export Promotion Council (GJEPC), told Rapaport News Monday. Several staff members have entered a 14-day quarantine as a result.The...Read More
RAPAPORT... Rio Tinto has no plans to purchase Dominion Diamond Mines' 40% share in the Diavik site, the Australian company said in a court filing.The miner, which already owns 60% of Diavik and manages the site through subsidiary Diavik Diamond Mines (DDMI), also has no interest in buying Dominion's Ekati mine, it noted."DDMI does not seek to interfere with or participate in the Ekati market...Read More
(IDEX Online)- Three spectacular pieces of diamond jewelry, one featuring a 27.02 carat fancy brown-yellow diamond, are to be auctioned to support healthcare workers fighting coronavirus.They've been specially created by renowned Taiwan-born designer Anna Hu and will be sold by Christie's to help Diamonds That Care, a social responsibility initiative launched by Russian miners Alrosa.All...Read More
(IDEX Online) - GIA (Gemological Institute of America) has launched an automated system that can distinguish lab-grown melee from natural stones.It's addressing concerns that simulants, laboratory-grown and HPHT treated natural diamonds, are deliberately being mixed in to parcels of natural diamonds.The GIA Melee Analysis Service sorts the screened diamonds by color range. Clients can also sp...Read More
RAPAPORT... The Dubai Diamond Exchange (DDE) has recommenced business following a restructure of its trading floor to comply with health and safety guidelines.The bourse, located in the Dubai Multi Commodities Centre (DMCC), plans to resume all normal trading activities, including tenders, it said Monday. DDE has posted social-distancing signs, erected plastic shields between trading stations...Read More
(IDEX Online) - The Dubai Diamond Exchange, which boasts the world's largest trading floor, is re-opening after COVID-19 restrictions were eased. It says it is ready to host tenders and other activities, with strict social distancing measures. The exchange closed during the lockdown imposed after the country's first two deaths were confirmed on 20 March. Dubai has built up a $25bn-a-year...Read More
Dharmanandan Diamonds (DDPL) is to hold what it describes as "the first ever virtual trade show", in response to the COVID-19 pandemic. Diamond Prev?? (C), a private exhibition for customers on 22 June, will feature remote product inspection, one to one interaction and seminar sessions with keynote speakers addressing the current state of the diamond trade. "In these unprecedented times, we keep...Read More
RAPAPORT... The Gem & Jewellery Export Promotion Council (GJEPC) has elected Colin Shah to succeed Pramod Agrawal as chairman.Shah, the organization's former vice chairman, will serve a two-year term from 2020 to 2022, the GJEPC said last week. Due to the coronavirus pandemic, the elections were held via an online voting process from March 20 to 26. Meanwhile, Vipul Shah, the CEO of jewelry re...Read More
RAPAPORT... Arunkumar R. Mehta, a prominent leader of India's diamond industry, passed away on June 14, 2020. He was 80 years old.Shri Mehta worked in the diamond trade for more than 60 years and is counted among the founding fathers of the industry in India. He cofounded B. Arunkumar & Co. in Mumbai in 1960, which eventually became Rosy Blue, a prominent diamond manufacturing company. "I...Read More
RAPAPORT... Arunkumar R. Mehta, a prominent leader of India's diamond industry, passed away on June 14, 2020. He was 80 years old.Shri Mehta worked in the diamond trade for more than 60 years and is counted among the founding fathers of the industry in India. He cofounded B. Arunkumar & Co. in Mumbai in 1960, which eventually became Rosy Blue, a prominent diamond manufacturing company. "I...Read More
(IDEX Online) - India's diamond trade will close tomorrow (16 June) for a day of mourning after the death of industry stalwart and pioneer Arun R Mehta. Arunbhai. He was 80. From humble origins in a small town in Gujarat, he founded what became Rosy Blue, the biggest diamond manufacturing unit in the world. He moved to Mumbai as a young man and recalled buying his first diamond...Read More
RAPAPORT... JCK will hold a virtual version of its Las Vegas jewelry shows in an effort to help the industry reconnect following the cancellation of most trade events due to the coronavirus pandemic. The weeklong fair, scheduled for August 10 to 14, allows attendees to browse and buy merchandise from a variety of jewelry and watch exhibitors, JCK said last week.Industry professionals can also sche...Read More
RAPAPORT... Sotheby's will offer four jewels with high estimates totaling more than $28 million at its upcoming live auctions in Geneva and Hong Kong.The Geneva Magnificent Jewels and Noble Jewels sale, originally scheduled for April, will take place on June 23. The auction will feature a step-cut, 3.01-carat, fancy-vivid-blue diamond carrying a presale value of $4.3 million to $6.3 million, the a...Read More
(IDEX Online) - Three diamond factories in Surat, India, have been fined for breaching COVID-19 rules.Workers were not wearing masks or keeping a social distance, according to The Indian Express news website. Officials made unannounced checks in the Katargam zone of the city after 16 of those who tested positive for coronavirus were found to be diamond workers.Amrut Gems, Bhagwati Gems and Sh...Read More
(IDEX Online) - JCK, the biggest jewelry show in North America, is going online and Indian manufacturer Dharmanandan Diamonds has announced a virtual trade event - both in response to the COVID-19 pandemic. JCK announced in April that it was cancelling its Las Vegas show, which attracts over 30,000 of the world's most influential industry professionals, and its sister event Luxury. Inst...Read More
(IDEX Online) - Signet Jewelers will emerge from COVID-19 as a stronger company, said CEO Virginia Drosos, despite the planned closure of 400 stores and Q1 total operating losses of $291m. She told the CNBC business news channel the coronavirus pandemic was a "a temporary setback" and their strategies, including e-commerce, were working. "I see Signet emerging as a stronger team and company on the...Read More
(IDEX Online) - Diamonds, pearls and other jewelry valued at $177m have been seized by Indian officials investigating fugitive billionaire Nirav Modi and his uncle Mehul Choksi. Last week a court approved the confiscation of assets for the first time since the Fugitive Economic Offenders Act came in to force two years ago.A total of 108 packages allegedly despatched to Dubai by firms owned by...Read More
RAPAPORT... The coronavirus has forced retailers into new ways of doing business. In this webinar, Rapaport Editor in Chief Sonia Esther Soltani and Elle Hill, CEO of jewelry consultancy firm Hill & Co., discuss the steps jewelers must take in order to adapt.Watch the full interview below:Or listen as a podcast here:Images: Elle Hill, a still life from online retailer Gem Breakfast, and j...Read More
RAPAPORT... Sotheby's will offer four jewels with high estimates totaling more than $28 million at its upcoming live auctions in Geneva and Hong Kong.The Geneva Magnificent Jewels and Noble Jewels sale, originally scheduled for April, will take place on June 23. The auction will feature a step-cut, 3.01-carat, fancy-vivid-blue diamond carrying a presale value of $4.3 million to $6.3 million, the a...Read More
(IDEX Online) - The Israel Diamond Exchange (IDE) was forced to close its trading halls after a trader was found to have coronavirus. They were shut on Tuesday and will remain out of action until Sunday at the earliest, according to the ynet news website. The huge trading floor at IDE, in Ramat Gan, one of the world's largest bourses, was divided into separate rough and polished areas as...Read More