RAPAPORT... The diamond industry lost one of its most colorful characters when Sam Abram died last week at the age of 78. Often referred to as "King of the Blues," Abram, a prominent buyer on the Sotheby's-Christie's auction circuit, was considered a pioneer in the colored-diamond market. He enjoyed an illustrious career in the diamond and gemstone trade, family members recalled."Sam was a ce...Read More
RAPAPORT... De Beers will increase production at Debmarine Namibia by 500,000 carats per year through the construction of a new diamond-recovery vessel, it said Thursday. The ship, the seventh in De Beers' fleet, will increase annual output from the country by 35%, and will cost $468 million to build. AngloAmerican, the miner's parent company, will contribute $234 million, and theNamibian gov...Read More
PERTH (miningweekly.com) – A 130 ct gem quality diamond has been recovered from the Lulo diamond project, in Angola, owner Lucapa Diamond Company reported on Thursday.The diamond is the thirteenth stone of more than 100 ct to be recovered to date, and the second so far in 2019, Lucapa told shareholders.AdvertisementThe new 130 ct stone adds to the current inventory of high-value large Specia...Read More
A diamond mining company has filed a R29.9-billion claim against President Cyril Ramaphosa and his government as a near three-decade-long dispute over expropriated diamond mining rights in Lesotho reaches South African courts again.Josias van Zyl, MD of Swissbourgh Diamond Mining, is arguing that South Africa is liable to pay him damages for, among other reasons, its "unconstitutional" a...Read More
Debmarine Namibia, a joint venture between diamond miner De Beers and the Namibian government, has approved the construction of a new custom-built diamond recovery vessel, which will become the seventh such vessel in Debmarine’s fleet.The vessel, which will be built at a cost of $468-million, will start production in 2022 and is expected to add about 500 000 ct/y of production capacity to De...Read More
The Dubai Multi Commodities Centre and the China Gems and Jade Exchange signed a memorandum of understanding to create new trading opportunities between the United Arab Emirates and China.The China Gems and Jade Exchange is a national-level gemstone trading platform approved by the State Council of China.In a press release, the parties explained that the idea is to connect buyers and sellers of g...Read More
RAPAPORT... Hong Kong-based M&B Diamonds expects to sell a record-setting purple diamond for more than $10 million, after buying the stone from Alrosa. The cushion modified brilliant-cut, 11.06-carat diamond isthe largest fancy-deep-purple-pink stone the Gemological Institute of America(GIA) has examined, according to the August 2018 grading report. Alrosa originally debuted the gem...Read More
RAPAPORT... The US diamond and jewelry industry is facing the possibility of higher tariffs on goods from China as the trade warescalates. The Trump administration has proposed a levy of up to 25% on products from China worth a total of $300 billion, the US Trade Representative (USTR) announced on May 9. Raw materials and accessories used in the jewelry trade are among the 3,805 items on the...Read More
RAPAPORT... Sotheby's brought in a total of $42 million at its Genevaauction Tuesday as an emerald and diamond necklace with royal connectionsfetched $3.6 million. The Van Cleef & Arpels Art Deco piece, which includesdiamonds, as well as 11 cabochon Colombian emeralds with a total weight of morethan 75 carats, went for more than double the price it achieved when it wasfirst sold at auctio...Read More
ABN AMRO published its report with the bank's results for the first quarter of 2019. The report makes no mention whatsoever about the diamond, gem and jewelry sector. Following is an excerpt from the message by Kees van Dijkhuizen, CEO of ABN AMRO Group: ""We are building a future-proof bank through continued Innovation & Technology (I&T) improvements supported by product and process rat...Read More
Israel's diamond trade is preparing for the Las Vegas shows, the most important group of shows for the gems and jewelry trade in the United States. Dozens of Israeli diamond companies have been planning for this event for months and are looking forward to a very good show. The United States is the Israeli Diamond Industry's largest market for polished stones, accounting for close to half...Read More
Petra Diamonds announced it sold its 424.89-carat 'Legacy of the Cullinan Diamond Mine' to Stargems Group / Choron of Belgium, for just under $15 million. This exceptional D color Type IIa gem mined from the Cullinan C-Cut adds to the most famous diamonds to have originated from this historic mine. Commenting on the sale, Petra's CEO, Richard Duffy, said: "This is a significan...Read More
DMCC, the world's leading Free Zone for commodities trade and enterprise signed a Memorandum of Understanding with the China Gems and Jade Exchange (CGJE), creating a strategic alliance with China's official trading platform for gemstones and jade. Feryal Ahmadi, Chief Operating Officer, DMCC, and Mr. Yuk Chan, Co-Founder and Executive Vice President, CGJE, signed the agreement during a...Read More
Club Degli Orafi and the Studies and Research Department of Intesa San Paolo reported that for the Italian jewelry manufacturing industry and trade, 2018 had been a disappointing year. Once the undisputed leader in high-end jewelry design and manufacturing. Italy is struggling in a highly competitive sector. Jewelry design and production giants such Turkey and Thailand continue to challenge Italy'...Read More
Stephen Fairchild, Chief Creative and Brand Officer will take the stage at this year's prestigious Copenhagen Fashion Summit to debate how circular design can create fundamental change in the industry. Fashion designers hold the power to create items that consumers fall in love with, but they also have the opportunity to make the industry more sustainable. At this year's Copenhagen Fash...Read More
Lucapa Diamond mined a 130-carat, gem quality diamond at its Lulo Diamond Project in Angola. The 130-carat diamond is the 13th diamond larger than 100 carats recovered to date at Lulo and the second recovered so far in 2019. The company said in a statement that the 130-carat diamond "adds to the current inventory of high-value large special run-of-mine diamonds, including top color white diamonds...Read More
RAPAPORT... Hong Kong-based M&B Limited expects to sell a record-setting purple diamond for more than $10 million, after buying the stone from Alrosa. The cushion modified brilliant-cut, 11.06-carat diamond isthe largest fancy-deep-purple-pink stone the Gemological Institute of America(GIA) has examined, according to the August 2018 grading report. Alrosa originally debuted the gem...Read More
Two jewelry industry veterans, who both have garnered ample experience as industry consultants and entrepreneurs, announced the formation of the Lab Grown Diamond Council (LGDC), to be headquartered in New York. "Many leading companies in the lab grown market have approached me over the last year regarding the need for focused, research-based messaging on advocacy, communications and education of...Read More
RAPAPORT... The US diamond and jewelry industry is facing the possibility of higher tariffs on goods from China as the trade warescalates.The Trump administration has proposed a levy of up to 25% on products from China worth a total of $300 billion, the US Trade Representative (USTR) announced on May 9. Raw materials and accessories used in the jewelry trade are among the 3,805 items on the l...Read More
There will a changer of the guared Alan Lowe, founder and owner of EGL South Africa (EGLSA) announced he is retiring from his position as Managing Director of EGLSA Lowe opened his first EGL diamond grading laboratory in Johannesburg in 1980. In 1996. EGL South Africa expanded into the grading of colored gemstones and at the same time he opened the EGL College of Gemmology that provided gemologica...Read More