RAPAPORT... Lab-grown brand ALTR Created Diamonds has appointed RichardWhitby chief financial officer as part of an effort to broaden the company's reach. "Bringing Richard on board marks a pivotal point for ALTR aswe continue our global expansion amidst a shift in the industry," Amish Shah,president of ALTR, said last week. "Richard brings meaningful executiveexperience increasing the forwar...Read More
RAPAPORT... The Plumb Club has become the first trade group to requireall members to sign up to the Responsible Jewellery Council (RJC). The supplier and manufacturer group hopes that other tradeassociations will follow suit, thereby ensuring the entire trade is on the samepage when it comes to responsible supply chains. "Having a standardized, universal code of practicesthroughout our indus...Read More
RAPAPORT... The Toronto Stock Exchange is set to delist StornowayDiamond Corporation following the miner's move to seek creditorprotection. The company received notice from the bourse that it would be removed from the exchange at close of business on October 18, Stornoway said last week. The exchange has already suspended the company's shares fromtrading. Stornoway's major lenders a...Read More
(IDEX Online) - Tiffany & Co. is combating the effect of falling Chinese tourism by opening up more mainland China stores. Chinese spending abroad has declined because of the yuan depreciating and uncertainty over U.S.-Chinese trade. Alessandro Bogliogo, CEO of the luxury jeweler told Bloomberg Television that while Chinese spending has dropped abroad, there have been big increases in sal...Read More
(IDEX Online) - Junior miner Diamcor Mining Inc. has reported an improvement in the total number of rough diamonds it has tendered, sold and delivered. The miner has sold 3,759.62 carats this quarter, with another 4,825 to be tendered in Antwerp in the coming weeks. Sales during the quarter total $569,000, yielding a lower-than-average price of $151 per carat. Diamcor said current price wea...Read More
(IDEX Online) - The Plumb Club has become the first industry organization requiring its members to become certified members of the Responsible Jewellery Council (RJC). The Plum Club is a current RJC association member.The membership requirement is being extended to all new and existing Plumb Club members. According to the Club, the new requirement underscores its purpose to "connect its members an...Read More
RAPAPORT... Lab-grown brand Altr Created Diamonds has appointed RichardWhitby chief financial officer as part of an effort to broaden the company's reach. "Bringing Richard on board marks a pivotal point for Altr aswe continue our global expansion amidst a shift in the industry," Amish Shah,president of Altr, said last week. "Richard brings meaningful executiveexperience increasing the forwar...Read More
Namibian diamond mining company Namdeb, a 50:50 joint venture between De Beers, itself a subsidiary of Anglo American plc, and the Namibian government has sold its Elizabeth Bay mine and associated marine assets to the Lewcor group. The basic deal is worth N$120-million. Namdeb ceased operations at Elizabeth Bay a year ago, because it could no longer run the mine economically. However, it also det...Read More
Aim-listed BlueRock Diamonds has sold a 10.6 ct diamond for $103 000.This is the sixth diamond sold for more than $50 000 this year. Together, the six diamonds have generated revenues of $600 000.AdvertisementBlueRock executive chairperson Mike Houston says the sale of another high-value diamond continues to “underpin the increasing potential” of the Kareevlei mine, in K...Read More
Hong Kong show brings fewervisitors, but better-than-expected trading. Serious buyers attending. Fair reflectsspecific Chinese interest and shift to lower-color diamonds. Pockets of gooddemand, with shortages of nice (eye-clean) RapSpec A3+ SIs due to reducedmanufacturing. Some small-scale Indian cutters closing early for Diwali. DeBeers maintaining flexibility for next week's sight, allowing 20%...Read More
Fewer goods and buyersin the local market during the Hong Kong show. Dealers looking to fill specificorders, with very little inventory-buying. Volatile melee market seeing slight improvementin lower price ranges. Polished production still at reduced levels, with somesmall-scale manufacturers closing early for Diwali. Larger exporters preparinginventory as they anticipate US holiday orders. Roun...Read More
RAPAPORT... Lucara Diamond Corp. has recovered a 123-carat, type IIrough and a 375-carat, gem-quality stone from the high-value portion of its Karowemine in Botswana, it said Wednesday. Including the two diamonds, the company has unearthed 29diamonds over 100 carats, including eight weighing more than 200 carats. The123-carat diamond was from the run of mine ore at the EM/PK(S) portion of the...Read More
RAPAPORT... Jewelers of America (JA) has named Ed Bridge, chairman of Ben Bridge Jeweler, as the recipient of its 2020 GEM Award for LifetimeAchievement. The GEM Awards honor the outstanding achievements ofindividuals or companies whose work raises the visibility and status of finejewelry and watches. "Ed has undoubtedly increased the professionalism for thejewelry industry," JA president Da...Read More
RAPAPORT... Swiss watch exports rose 1.5% year on year to CHF 1.52 billion ($1.53billion) in August amid increased growth in US demand ahead of the September 1tariff hikes. "In the US, growth continued to increase regularly, makingit the top export market," the Federation of the Swiss Watch Industry reportedlast week. Shipments to the US climbed 15% to CHF 177.3 million ($178.4million),...Read More
RAPAPORT... A historic emerald given to Lady Mary Hood Mackenzie byMughal Emperor Akbar II in 1813 will go under the hammer at Bonhams, the auctionhouse said Tuesday. The Art Deco, Persian-engraved, octagonal-cut Colombianemerald brooch is set in a frame of black enamel and brilliant and single-cutdiamonds, mounted in platinum. The piece, believed to have been created around1925 by British je...Read More
RAPAPORT... Sarine Technologies is collaborating with China'sNational Gemstone Testing Center (NGTC) to advance diamond-gradingstandards in China. Sarine CEO DavidBlock and NGTC president ZhiBin Ye signed the agreement in Beijing Monday, with the intention of combining NGTC's extensive gemological research and diamond-testing expertisewith Sarine's artificial intelligence (AI) technology to i...Read More
Ed Bridge, Chairman Emeritus of Ben Bridge Jeweler, Inc, is the 2020 recipient of the GEM Award for Lifetime Achievement. The award has been made in honor of his dedication to Ben Bridge and the jewelry industry throughout his career. The award ceremony will take place at the annual Gem Awards. The Gem Awards honor the outstanding achievements of individuals or companies whose work raises the...Read More
GemFind has announced the launch of an e-commerce version of DiamondLink. DiamondLink allows retailers to curate a list of diamonds suppliers on their website. The new iteration enables jewelers to sell diamonds from their vendors directly on their website.GemFind says that with this new version of DiamondLink, retailers can select the diamond qualities they want to offer. It also offers reports t...Read More
(IDEX Online) - CIBJO has released an overview of its Responsible Sourcing Blue Book. The Book defines a universally agreed-to set of recommended responsible sourcing principles that can be applied by all members of the jewelry industry. The report was prepared by the CIBJO Responsible Sourcing Commission, headed by Philip Olden.The report outlines a program initiated by the CIBJO' Respo...Read More
The Portfolio Committee on Public Enterprises says State-owned diamond miner Alexkor is in trouble.The committee was on Wednesday briefed by the Department of Public Enterprises (DPE) and Alexkor on progress made in addressing the miner’s governance challenges and financial performance.AdvertisementIn its questions, the committee expressed concern about the state in which the company finds i...Read More