Speaking at the opening session of the Kimberley Process Certification Scheme Intersessional Meeting (KPI) in Mumbai, World Diamond Council (WDC) President Stephane Fischler has called on Kimberley Process-member governments to do what is necessary to safeguard the interests of their mining communities and consequently optimize the developmental potential of their natural resources. "We must agre...Read More
RAPAPORT... The US jewelryindustry sees social media as instrumental in overcoming digital challenges, a recent report by JCK found. Ofthe 500 respondents surveyed in the JCK's 2019 State of the Jewelry Industry Report, 46% identified connecting with clients viasocial media as their top digital strategy. Some 39% chose non-traditionaladvertising as the most effective approach and 37% consider...Read More
RAPAPORT... Platinum Guild International (PGI) will offer its new lineof jewelry, Platinum Born, in 30 stores throughout the US, including majorretailer Saks Fifth Avenue. The organization will also expand the selection it offers inthe luxury fashion-jewelry brand, which it launched in four stores in the US last year. Thecollection was created to target the nation's growing number of femalese...Read More
RAPAPORT... BlueRock Diamonds, which owns the Kareevlei mine in South Africa, has sold a 24.98-carat rough diamond for $190,000. The diamond is the largest the company has found from Kareeevlei, signalling potential for other high-value recoveries, chairman Mike Houston said last week. "We continue to make excellent progress implementing our development strategy to increase production and are...Read More
RAPAPORT... US retail sales rebounded in May as the economicand financial outlook stabilized, according to the National Retail Federation(NRF). Total purchase value grew 3.2% year on year, with salesrising in nearly all categories, the trade organization reported last week.Retail sales increased 0.5% over the previous month, after the government revisedits April data. It initially reported a...Read More
Jewelers for Children held its 21st annual Facets of Hope event on June 2, at the Venetian, in Las Vegas. The charity announced that $1.3 million had been raised to support their charity partners in the year ahead, bringing the cumulative total since 1999 to $ 56.7 million that has been donated on behalf of the industry to help children in need. Each year it's amazing how genero...Read More
The Jewelry Industry Summit, a non-profit charitable organization, announced that it is moving its business model to that of a membership-based organization and opening up a range of opportunities for individuals and organizations to align themselves publicly with the vision and goals by becoming a member. The step is in line with its mission to bring the jewelry industry together to advance susta...Read More
The Zimbabwe Independent reported that Alrosa PJSC, the local arm of the Russian diamond mining giant, is yet to finalize its agreement with the Zim government to mine diamonds in the country. Following the government's announcement about Alrosa's arrival five months ago, the company is still to be allocated diamond mining concessions Independent reporter Bridget Mananavire quoted govern...Read More
RAPAPORT... US retail sales rebounded in May as the economicand financial outlook stabilized, according to the National Retail Federation(NRF). Total purchase value grew 3.2% year on year, with salesrising in nearly all categories, the trade organization reported last week.Retail sales increased 0.5% over the previous month, after the government revisedits April data. It initially reported a...Read More
The Kimberley Process Certification Scheme (KPCS) Intersessional Meeting 2019 kicked off in Mumbai, India, on Monday, June 17 with a welcome speech by (Mr.) Alok Vardhan Chaturvedi, Director General of the Foreign Trade (DGFT) who is the current KP Chair on behalf of the government of India. The two other speakers were (Mr.) Stephane Fischler, President of the World Diamond Council and (Mr.) Shami...Read More
RAPAPORT PRESS RELEASE, June 5, 2019, Las Vegas ... Members of RapNet, the world's largest diamond tradingnetwork with daily listings valued at $7.5 billion, voted overwhelmingly againstintroducing services for synthetic diamonds. The following are the votingresults for the issues polled. Should RapNet provide listings for synthetic diamonds?No: 5,934 (79%),Yes: 1,607 (21%).Should Rapaport publish...Read More
RAPAPORT...BlueRock Diamonds, which owns the Kareevlei mine in South Africa, has sold a 24.98-carat rough diamond for $190,000. The diamond is the largest the company has found from Kareeevlei, signalling potential for other high-value recoveries, chairman Mike Houston said last week. "We continue to make excellent progress implementing our development strategy to increase production and are clear...Read More
Mountain Province Diamonds Inc. announced the discovery of a new kimberlite at its Gahcho Ku?? (C) Joint Venture (GKJV) leases. The Wilson kimberlite is located roughly 200 meters east of the Tuzo kimberlite and was discovered during drill testing of geophysical and geological anomalies in the area. The Wilson kimberlite is the first kimberlite to be discovered in the GKJV area in over 20 years, a...Read More
Maladministration and misappropria- tion of funds continue to render South Africa’s mining royalties system mostly ineffective, with no one being brought to book.Established to deliver transformation in impoverished, mining-affected communities through the distribution of royalties paid by the mining sector, which is a large fixture in South Africa’s socioeconomic landscape, mining roy...Read More
Aim-listed BlueRock Diamonds, the owner and operator of the Kareevlei diamond mine, in Kimberley, has sold a 24.98 ct diamond recovered earlier this month for $190 000.Executive chairperson Mike Houston on Friday commented that the company was delighted with the sale of its largest diamond to date, adding that its recovery and sale demonstrated the potential of Kareevlei.Advertisement“We con...Read More
Disappointing Las Vegas showsfailed to add value for diamond dealers. Jewelry wholesalers did better,reflecting steady US market. Diamantaires focused on showcasing tech ratherthan diamonds; innovations included improved traceability programs, online salesplatforms and better inventory management. Brands pushing bridal as averageengagement-ring price continues to decline. Small De Beers June sight...Read More
Weak sentiment, withmanufacturers under pressure due to sluggish polished demand and tight profitmargins. Factories operating at reduced capacity, and some manufacturersslashing salaries of polished workers. Fewer foreign buyers in Mumbai after LasVegas shows. Steady orders for 0.30 to 0.99 ct., G-J, VS-SI diamonds, butprices continue to soften. Concern that rising demand for synthetics iscannibal...Read More
RAPAPORT... Fresh off the boat from Las Vegas, and battling some serious jetlag, Rapaport news editor Avi Krawitz and publisher John Costello pick out their key takeaways and favorite moments from the JCK show. Image: Botswana President Mokgweetsi Masisi addresses the industry, visitor traffic at the show, and engagement rings were on display. (JCK Events)Read More
RAPAPORT... A Belle ??poque diamond ring sold for nearly 10 times itshigh estimate at Christie's London auction Wednesday. The piece, which was made around 1900 and features rose,single and old-cut diamonds, fetched GBP 112,500 ($143,000) against a highvaluation of GBP 12,000 ($15,200) at the Important Jewels auction. A circular-cut, 10.05-carat, E-color, VVS1-clarity, type IIadiamond ring so...Read More
RAPAPORT... As rain fell for about five minutes on the typically sunbaked Las Vegas strip on the opening day of the JCK show, one couldn't help but sense things might be a bit different this year. Was the unusual weather a sign that diamond dealers were in for similar positive surprises on the trading floor? After all, they had endured difficult market conditions in the past 12 months and cou...Read More