BlueRock Diamonds (LON: BRD) shares were up 15% on the London Stock Exchange Friday after the miner announced it had recovered its largest diamond to date, a 24.9 carat gem quality stone. BlueRock owns and operates the Kareevlei Diamond Mine in the Kimberley region of South Africa. The miner's largest diamond prior was 16.28 carats, which sold for $78,947. "This record recovery of su...Read More
Alluvial diamond mining equipment manufacturer PCF Engineering has completed a multimillion-rand project for a client active in the Tshikapa diamond field in the Democratic Republic of Congo, for the manufacture and supply of a variety of equipment.PCF Engineering supplied gravel pumps, classifiers, duplex jigs, air compressors, pipes, couplings and nozzles to the client that is currently mining i...Read More
Aim-listed BlueRock Diamonds has recovered its largest diamond to date, a 24.98 ct gem-quality diamond.This diamond, which was recovered from its Kareevlei diamond mine, near Kimberley, in South Africa’s Northern Cape, would shortly be put to tender.AdvertisementThe largest diamond recovered prior to this weighed 16.28 ct and sold for $78 947.“Th[e] recovery of such a high-quality diam...Read More
Rapaport published a report stating that diamond markets are under pressure as profit margins have tightened and the trade war with China has fueled uncertainty.The international firm revealed that the RapNet Diamond Index, known as RAPI, for 1-carat+ diamonds fell 0.7% in May and is down 1.7% since the beginning of the year.RAPI is the average asking price in hundred $/carat of the 10% best-price...Read More
Slow trading at JCK showhighlights middle-market liquidity and profitability challenges. Prices softeningwith 1 ct. RAPI -0.7% in May. Suppliers using technology and sourcing programsto demonstrate added value as jewelers reduce inventory purchases. US jewelrymarket steady with top independents gaining market share over majors by providingpersonalized service to millennials. Luxury jewelers expose...Read More
Trading in Mumbai relatively slow as May summer break ends and dealers returnfrom Las Vegas. Inventory levels declined slightly in past month aftermanufacturers reduced polished production. Rough market cautious amid tightprofitability. Good demand for lower-color (J-K) diamonds. Local jewelry marketstable. RoundRead More
RAPAPORT... Signet Jewelers has lowered its sales outlook for the restof the year, after revenue fell in the first fiscal quarter. Total sales declined 3.3% to $1.43 billion in the threemonths ending May 4, the retailer reported Thursday. Same-store sales -at branches open for a year or more - slipped 1.3%.Signet now expects sales of $6 billion to $6.06 billion forthe current fiscal year ending Ja...Read More
By Chaim Even-Zohar and Pranay Narvekar Last year the diamond pipeline pretty well succeeded in Faking the Diamond Dream. Some of the largest companies discovered that defaulting on debts of hundreds of millions of dollars had become the new source of value. Lenders tried to recover lost value by suing clients - some of whom responded in kind. Court appointed forensic investigato...Read More
RAPAPORT... Chow Tai Fook's sales and profit rose during the fiscalyear amid increased purchases of gold jewelry and an expansion of the company'sretail network in China, it said Thursday. Group sales grew 13% to HKD 66.66 billion ($8.5 billion) forthe year ending March 31. Retail sales in mainland China climbed 8% to HKD30.42 billion ($3.88 billion), while revenue from Hong Kong and Macau ju...Read More
According to a 2016 report published by the US-based think tank Global Financial Integrity (GFI), the Indian government lost a staggering $13 billion to trade misinvoicing. This amount is equivalent to 5.5 percent of the value of the country's total revenue collections in 2016, the Economic Times of India reported. In 2016, almost two-thirds of Indian imports that appear to be most at risk fo...Read More
RAPAPORT... Shipments of polished diamonds to the US grew 4% to $5.51billion in the first quarter, as a stronger March canceled out a negative startto the year. Imports rose 13% to $2.23 billion for the month, compared with a1% rise in January and a 3% decline in February.US Diamond Trade Data for March 2019 Millions unless stated otherwiseRead More
Alrosa, the world leader in diamond mining in volume, held an international auction for +10.8-carat rough diamonds in New York early this month. The company sold 101 gem-quality diamonds at a total weight of 1,550 carats. The auction netted Alrosa a total of $ 8.8 million. Some 90 companies, from Belgium, Hong Kong, India, Israel, Russia, the UAE and the USA participated in the auction. "Our aucti...Read More
Nompumelelo (Mpumi) Zikalala has hit the ground running as the newly appointed MD of De Beers Group Managed Operations in South Africa and Canada, which employ more than 5 500 people, including contractors. The focus of the De Beers Group Managed Operations leadership team is on the Venetia Mine, Gahcho Kué Mine and De Beers Marine. The streamlining of operational management and identificat...Read More
American jeweler to the stars Le Vian celebrated 20 years of its record-busting Chocolate Diamonds with a glittering retrospective catwalk, while raising almost $500,000 for children's and cancer charities. Le Vian models sashayed down the runway in a packed Las Vegas ballroom at the Venetian Hotel on Sunday, June 2, in a catwalk show that looked both to the past and the future, with an audie...Read More
The First Lady of the Republic of Botswana, Mrs. Neo Jane Masisi, opened the Forevermark company's annual breakfast held at JCK LUXURY, sharing the important role that diamonds have played in the story of her own life as well as for her country with Forevermark jeweler and manufacturing partners. "It is thanks to the enduring desire for the diamond dream and the revenues Botswana has subsequ...Read More
Having recently completed a large facility management project for diamond processing organisation the Diamond Trading Company (DTC) in Gaborone, Botswana, industrial rope-access specialist Skyriders has found a faster, more efficient way of conducting maintenance on site through rope access.The project, which was completed this month for DTC at its head offices, involved sorting out defective ligh...Read More
Signet Jewelers, one of the United States' leading retailers of diamond jewelry, filed its sixth consecutive Conflict Minerals Report with the U.S. Securities and Exchange Commission (SEC). Signet disclosed that its supply sources of gold from the Democratic Republic of The Congo (DRC) were guaranteed to be conflict free. The firm also reported it had "extended its 3TG diligence and reporting...Read More
Australia-based Lucapa Diamond Company has launched a $3.3.-million, 12-month exploration programme to locate the kimberlite source of the high-value alluvial diamonds that it currently mines at the Lulo mine, in Angola.The programme is based on a technical review of Lulo kimberlite exploration results to date, including those of the 2018 drilling programme, which confirmed a further 70 kimberlite...Read More
RAPAPORT... Signet Jewelers has lowered its sales outlook for the restof the year, after revenue fell in the first fiscal quarter. Total sales declined 3.3% to $1.43 billion in the threemonths ending May 4, the retailer reported Thursday. Same-store sales -at branches open for a year or more - slipped 1.3%.Signet now expects sales of $6 billion to $6.06 billion forthe current fiscal year ending Ja...Read More
The Ministry of Energy, Northern Development and Mines has issued 10 exploration permits to Golden Share Resources (TSXV: GSH) for drilling targets within the Ogoki project and the Kagiami project, located in the Wabassi and Albany River area of the James Bay Lowlands of Ontario, Canada.Ogoki and Kagiami sit 200 kilometres southwest of DeBeers' Victor diamond mine, approximately 150 kilometres sou...Read More