RAPAPORT... The French Gemmological Laboratory (LFG) is the oldest ofits kind in the world. Founded in 1929, it came into being after the arrival ofcultured pearls on the market prompted more than 300 pearl dealers from Paris's9th arrondissement to call for a way to differentiate them from natural pearls.The French government managed the lab from 1936 until 2010, when it was sold tothe French Unio...Read More
RAPAPORT... The "5Cs and 2Ts" isn't as catchy as the usual formula, but it might be a better pricing method, according to the author of a diamond-trade guide that claims the 4Cs are no longer adequate."One of the biggest misconceptions is that there are onlyfour diamond price factors - color, clarity, cut and carat weight," Ren?(C)eNewman, a graduate gemologist who last year published the third ed...Read More
ABC News reported that, despite the faster pace of economic growth, the retail sector had shed 49,100 jobs in the past 12 months. But the National Retail Federation seems to disagree. "Retail job losses appear to reflect broader changes in the economy as more Americans have shifted their spending online and stores close after decades of overexpansion. But the government figures don't tel...Read More
Mountain Province Diamonds (MPVD) announced upcoming changes to its board of directors. One new board member is William Lamb, the former Chief Executive Officer of Lucara Diamond Corp. In addition to Lamb, two new directors, Tom Peregoodoff and Brett Desmond will be joining the board pursuant to election. MPVD Chair Jonathan Comerford commented: "We are very pleased to welcome Tom, William, and Br...Read More
Stornoway Diamond Corporation announced that the Renard Mine rescue team won all awards at the 57th Quebec Provincial Mine Rescue Competition. The competition took place between May 2 and 4 in La Sarre, Quebec. The Renard Mine team won all awards: Best BG4 Breathing Apparatus Mechanics; Best Theoretical and Technical Performance; Best First Aid Performance; Best Team Management; and...Read More
RAPAPORT... The "5Cs and 2Ts" isn't as catchy as the usual formula, but it might be a better pricing method, according to the author of a diamond-trade guide that claims the 4Cs are no longer adequate."One of the biggest misconceptions is that there are onlyfour diamond price factors - color, clarity, cut and carat weight," Ren?(C)eNewman, a graduate gemologist who last year published the third ed...Read More
Canadian diamond miner Mountain Province on Monday announced that former Peregrine Diamonds CEO Tom Peregoodoff and former Lucara Diamond Corp CEO William Lamb would join its board of directors following the annual general meeting (AGM) next month.Investment professional Brett Desmond, who is also the son of Mountain Province’s major shareholder Dermot Desmond, would also join the company&rs...Read More
RAPAPORT... Gemfields has discovered illegal miners working formodern-slavery syndicates at its Montepuez ruby mine in Mozambique, after noticing a rise in the number of deaths caused by illegal-pit collapses at the site. The miners, some of whom are juveniles, are poverty-strickenand unemployed individuals recruited by well-financed syndicate leaders ormiddlemen, Gemfields said last week. Th...Read More
RAPAPORT... Retail sales of jewelry and other luxury items dropped inHong Kong in the first quarter, amid ongoing caution in the consumer market. Revenue from jewelry, watches, clocks and other valuablegifts fell 2.7% year on year to HKD 22.38 billion ($2.85 billion) for the threemonths ending March 31, the municipality's Census and Statistics Departmentreported last week. Sales in all r...Read More
RAPAPORT... James Allen has launched sales of lab-grown diamonds,marking parent company Signet Jewelers' entry into the synthetics market. The e-commerce business, which Signet acquired in 2017,now gives consumers the option of "earth-created" or "lab-created" stones onits retail page. James Allen is offering lab-grown as center stonesfor engagement rings, promising "up to 30% more size for the sa...Read More
RAPAPORT... The Diamond Producers Association (DPA) will launch acampaign in India encouraging new parents to celebrate the birth of a child by purchasing a diamond. Based on the DPA's consumer research, 39% of Indianconsumers consider the birth of a child to be an auspicious occasion for buyingjewelry, it explained last week. The new campaign will follow up on the initial Real is Rare...Read More
RAPAPORT... Pink fancy-color diamonds outperformed other major colorcategories in price terms during the first quarter, the Fancy Color ResearchFoundation (FCRF) said. "At a time of diamond-market uncertainty, fueled by growingwhite-diamond inventory and the emergence of lab-grown diamonds, mostcategories of fancy-color diamonds are showing continued pricing stability,with the pink segment po...Read More
RAPAPORT... Gemfields has discovered illegal miners working formodern-slavery syndicates at its Montepuez ruby mine in Mozambique, after noticing a rise in the number of deaths caused by illegal-pit collapses at the site. The miners, some of whom are juveniles, are poverty-strickenand unemployed individuals recruited by well-financed syndicate leaders ormiddlemen, Gemfields said last week. Th...Read More
The Gemological Institute of America (GIA) will host a panel discussion entitled "Embracing Sustainability Amid New Consumer Expectations," at the JCK Las Vegas Show on Friday, May 31, at 12:00 p.m. The panel will be moderated by Susan Jacques, GIA president and CEO and five experts will address the need for sustainability in day-to-day operations of small and large companies in the gem and jewelr...Read More
"Mother's Day spending has been growing consistently over the past several years, and this year's spending is expected to be the highest in the 16-year history of our survey," NRF President and CEO Matthew Shay said. "Consumers are excited to celebrate all the moms in their lives, and retailers are ready to inspire consumers with unique gift options." While the number of people celebrating Mo...Read More
Lucara Diamond Corp, which has recovered two of the largest diamonds in recent history, is turning to technology to ensure growth in an industry where new mine acquisitions remain elusive.For the Vancouver-based junior miner, that means using advanced technology like sorting based on atomic density to boost value from its Karowe mine in Botswana, and also diversifying away from mining into an onli...Read More
Mined diamonds are less carbon-intensive than man-made, but their producers should use more green energy, according to a study commissioned by the natural diamond industry, highlighting tensions between the mined and lab-grown sectors.The U.S. Federal Trade Commission, which investigates allegations of deceptive advertising, sent warning letters to eight lab-grown diamond companies at the beginnin...Read More
RAPAPORT... The major diamond miners have weighed in on the debateover which diamonds are more ethical, claiming their production uses less than one-thirdof the energy it takes to create a diamond in a lab. The operations of companies that make up theDiamond Producers Association (DPA) emitted an average of 160 kilograms ofcarbon dioxide (CO2) per 1-carat of polished diamonds produced in 2016...Read More
Reduced trading due to shorter Labor Day week andongoing general elections. Volatile rupee making traders cautious. Feweroverseas buyers in Mumbai due to recent Passover and Easter holidays.Manufacturers cutting production instead of diamonds. Liquidity tight, inventoryinflated. Jewelers preparing for May 7 Akshaya Tritiya Hindu festival, apopular time to buy gold. RoundRead More
Polished market quiet, with dealers doingbetter than manufacturers. Steady US demand for 1.00 to 1.50 ct. goodssupporting the trade, but prices continue to soften. 1 ct. RAPI -0.5% in April.Suppliers preparing for Vegas shows, hoping new JCK venue will help boostsentiment and sales. Far East buyers selective. High expectations for Mother'sDay as NRF predicts jewelry sales will be strongest growth...Read More