The World Diamond Council published a report, written by WGC Research Manager Ray Jia, that during the past five years, Chinese retail jewelers have seen their profit drop. Some retailers have even seen net profits shrinking over the period. Most of them have made efforts to address this by introducing high-margin and innovative products "such as 3D-hard gold and "5G" gold." Jia noted that in rece...Read More
Ernest Blom, president of the World Federation of Diamond Bourses (WFDB) said the issue of lab-grown diamonds (LGD) would - once again - be on the agenda of the event, with a panel discussion featuring industry experts. "What distinguishes natural diamonds from lab-created diamonds, apart from the whole love element, is that natural diamonds are a non-renewable source," Blom says. "The supply...Read More
The Antwerp World Diamond Centre (AWDC) will open its doors on the Industry Open Company Day organized by the Flanders' Chambers of Commerce. On this day, in Flanders, hundreds of companies open their doors to the public, enabling it to take a look behind the scenes visit. At the AWDC, visitors will help diamond enthusiasts discover the fascinating world of diamonds and teach them how to buy...Read More
RAPAPORT... Gem Diamonds has recovered its third yellow diamond over 100carats this year, following a two-year dearth of stones in that hue and size. The miner found the 114.2-carat rough on August 22 at itsLet??eng mine in Lesotho, it said Monday. The company unearthed a 135-carat,yellow diamond from the deposit in June, and a similar 134-carat stone was brought upin March. Prior to those re...Read More
RAPAPORT... Stornoway Diamond Corporation has until December 20 to comply with Toronto Stock Exchange (TSX) requirements or face a delisting of its common shares. "There can be no assurance that the corporation willsuccessfully regain compliance with the TSX listing requirements within thistime period," the miner explained. "In which case, the corporation's commonshares and convertible debentures...Read More
RAPAPORT... The organizers of the Hong Kong Jewellery & Gem Fair have assured the trade that the September show will take place as planned, and denied claims that exhibitors are requesting it be postponed due to ongoing protests in the municipality. "We have not received demands for cancellation as stated ina joint letter recently sent to us by three trade associations," Celine Lau, director o...Read More
RAPAPORT... Graff has unveiled the polished pink diamond it cut from the13.33-carat rough it purchased from Gem Diamonds in March. The jeweler set the pear-shaped, 5.63-carat, fancy-vivid-purplish-pinkstone in a rose-gold ring. Two pear-shaped shoulder stones, also cut from thesame rough, flank the center diamond. Gem Diamonds recovered the rough - the largest pink it hasunearthed since 2011 - fr...Read More
RAPAPORT... Alrosa will offer more than 200 polished coloreddiamonds at the Hong Kong Jewellery & Gem Fair in September. The True Colors auction will feature a pear-cut, 18.07-carat, intense-yellow diamond which is internally flawless, the Russia-based miner saidFriday. An emerald-cut, 6.78-carat, vivid-yellow diamond, and two pear-cut,vivid-purplish-pink stones are also expected to go under t...Read More
RAPAPORT... The organizers of the Hong Kong Jewellery & Gem Fair have assured the trade that the September show will take place as planned, and denied claims that exhibitors are requesting it be postponed due to ongoing protests in the municipality. "We have not received demands for cancellation as stated ina joint letter recently sent to us by three trade associations," Celine Lau, director o...Read More
Alrosa, a world leading diamond miner, will hold its annual True Colors auction of fancy color diamonds for the second time in upcoming September. Alrosa held its first auction for fancy color diamonds in 2018 as part of its strategy to become a recognized, authoritative source for fancy color diamonds. Prospective buyers can view the diamonds during the Hong Kong Jewellery & Gem Fair, from t...Read More
RAPAPORT... Stornoway Diamond Corporation has until December 20 to comply with Toronto Stock Exchange (TSX) requirements or face a delisting of its common shares. "There can be no assurance that the corporation willsuccessfully regain compliance with the TSX listing requirements within thistime period," the miner explained. "In which case, the corporation's commonshares and convertible debentures...Read More
Celine Lau, the veteran manager of the Hong Kong Gem and Jewellery Fairs of June and September, responded to a letter sent earlier on August 21st by the Gem & Jewellery Export Promotion Council (GJEPC), the Antwerp World Diamond Centre (AWDC) and the Israel Diamond Institute (IDI), asking Lau to postpone the show. In her letter, Lau stated that there are positive signs indicating that th...Read More
Gemstone miner Gemfields’ latest auction of commercial-quality emeralds, held in Lusaka this week, attracted a record number of international buyers.The auction of 35 schedules of emeralds recovered from the Kagem mine, in which London-based Gemfields holds 75% and the Zambian government 25% through the Industrial Development Corporation (IDC), for the first time attracted Chinese buyers, in...Read More
Polishedinventory levels starting to decline as manufacturers cut production and roughbuying. Small Aug. sight as De Beers lets sightholders reject 50% of goods.Alrosa slashes 2019 sales forecast from 38M cts. to 33M cts. after 2Q revenue-21% to $859M, profit -47% to $200M. Weak China demand and tight profit marginsstill a concern. Buyers very selective during downturn. Strong jewelry sales atMacy...Read More
RAPAPORT... Revenue and profit at Indian diamond-manufacturer Asian Starfell in the first fiscal quarter, reflecting a slowdown in demand for polished diamonds. Group revenue declined 7% year on year to INR 8.25 billion($114.8 million) in the three months ending June 30, the company said lastweek. Net profit slid 10% to INR 260.8 million ($3.6 million). Revenue from diamond sales, Asian Star'...Read More
RAPAPORT... The Natural Color Diamond Association will present a study at the Hong Kong Jewellery & Gem Fair on how coloring in diamonds develops. Since 2009, GGTL Laboratories in Liechtenstein has beenanalyzing both natural and lab-grown diamonds. The results will be given bylaboratory director Thomas Hainschwang (pictured), in a seminar moderated by Rapaport senior news repor...Read More
RAPAPORT... US retail sales increased in July, as consumer confidence remained strong despite fears over the escalating trade war. Total purchases- excluding automobiles, gasoline andrestaurants - rose 0.9% compared with June sales and 5.6% year on year,according to data the National Retail Federation (NRF) reported, citing the USCensus Bureau. Online and other non-store sales climbed 19% yea...Read More
RAPAPORT... As the trade returns from its summer vacations and starts to look toward the holiday season, the Rapaport editorial team outlines the industry's prospects for the rest of the year. It's volatile out there with all the talk of recession, rumblings about the trade war and uncertainty in Hong Kong. But we see a light at the end of the tunnel and pick out some winning trends that should li...Read More
IDEX' Research Director Ken Gassman is the author of the cover story of the September issue of IDEX Magazine. Entitled "Solving the puzzle for diamantaires - how to capture a greater share of consumer spending" Gassman tries to understand why the diamond industry is so different from other markets, where producers, suppliers and retailers closely monitor shoppers' buying habits, and ofte...Read More
One hundred and twenty years after the first miners began panning for gold in the Yukon River, RESOLVE, a solutions-focused NGO, announced the launch of Salmon Gold, an innovative approach to sourcing gold responsibly and restoring fish habitats in Alaska, the Yukon Territory, and British Columbia, with its partners, Tiffany & Co. and Apple. Gold from the project is now in the supply chains o...Read More