RAPAPORT... The Guangzhou Diamond Exchange (GZDE) has signed a strategiccooperation agreement with China's major synthetics suppliers to develop andpromote lab-grown diamonds in the country, the bourse said Tuesday. The parties signed the contract last week during a forum onthe benefits of synthetic stones that took place during the 2019 ChinaInternational, Gold Jewellery & Gem Fair in Shenzhe...Read More
RAPAPORT... Sarine Technologies expects a loss in the first quarter, amid market uncertainties that led to soft demandfor equipment used in diamond manufacturing. The net loss will be between $1 million and $1.5 million, the company cautioned last week, compared with a profit of $3.1 million reported for thesame period last year. Sarine also predicts revenue of $11 million, which would be 34% belo...Read More
RAPAPORT... The International Diamond Council (IDC) has elected HRD Antwerpchairman Julien Drybooms as chairman of its board. He has also served on the executive committee of the WorldFederation of Diamond Bourses (WFDB) and is the owner of diamond companyDrybooms & Zonen. "I am very pleased to take on this important position and Iam honored to have been elected," Drybooms said last week. "Th...Read More
Ame celebrated the opening of its flagship store at Westfield Century City Mall in Los Angeles, California, earlier this month. Launched in 2018, Ame is a modern fine jewelry brand under the creative direction of Elinor Avni, whose collections "are designed to break free from tradition, allowing diamond jewelry to be worn with freedom and personal style," according to a news release. The fir...Read More
The Gemological Institute of America (GIA) has appointed Shahdeh Ammadi to the newly-created position of director of institute relations. Ammadi will oversee GIA's global alumni program, the GemKids program for young, aspiring gemologists as well as guest services at the GIA headquarters. "The more than 130,000 active GIA alumni in 65 chapters around the world are important ambassadors for ou...Read More
Diamond miner De Beers Group has appointed its COO Nancy Liu CEO of its Forevermark brand.She succeeds Stephen Lussier, who remains De Beers group executive for consumer, brands VP and now also Forevermark chairperson.AdvertisementThis way Lussier will be able to increase his focus on shaping the company’s strategy at consumer level, the company said in a recent statement.“Fortunately,...Read More
Stuller, the Lafayette, Louisiana-based one-stop-gem and jewelry manufacturer and supplier, announced it has become a certified member of the Responsible Jewellery Council (RJC). "Ethical sourcing, supply chain transparency, workplace safety and other similar issues, are of increasing concern to more and more consumers and businesses," Stanley Zale, vice president of diamond and gemstone procureme...Read More
Australia's Argyle diamond mine has produced one of the largest gem quality white diamonds in its 35 years of operation. The 28.84 carat gem quality white diamond was recovered from the east Kimberley mine in March 2019. Named Argyle Octavia in recognition of its beautiful octahedral shape, this rough diamond will be sold by tender in Antwerp later this year. Arnaud Soirat, chief executive...Read More
The Bharat Diamond Bourse (BDB) announced it will host the 2019 Bharat Diamond Week (BDW) from 14 to16 October, just ahead of the Diwali festival. The BDW's second edition of 2018 saw more than 1,000 visitors from India and across the world who did business with 125 Indian exhibitors of polished diamonds. BDB Vice-President Mehul Shah, who heads the Bharat Diamond Week, said: "The timing of...Read More
Alrosa revealed a 118.91-carat gem-quality diamond that is recovered from its "International" mine, which is located close to the town of Mirny in the Sakha Republic of the Russian Federation. The company said that stone, which was found on April 16, is the largest gem-quality diamond on found at the International pipe in the past two years. A similar, large gem-quality diamond, we...Read More
RAPAPORT... Rio Tinto's Argyle mine has yielded the largest gem-qualitywhite diamond in its 35-year history, the miner said Tuesday. The 28.84-carat stone, named Argyle Octavia for itsoctahedral shape, was discovered at the Australia-located mine last month. "This discovery...is a testament to the extraordinary Argyleorebody that continues to deliver these miracles of nature, even as it nears the...Read More
Russian diamond major Alrosa has announced an investment of ten-billion ruble in a project that will extend the life of the Aikhal underground mine up to 2044, sustaining 500 jobs.The mining company has approved the stripping and mining of Aikhal pipe reserves at the levels of between 100 m and 400 m below the ground.AdvertisementThis will replenish the raw material base of the mining and processi...Read More
Russia's Alrosa, the world's top diamond producer by output, is extending the life of its Aikhal mine to 2044 by digging deeper into the ground, in a project estimated to cost about RUB 10 billion ($16m).The 300 metres underground extension, the company said, will add almost 20 million carats to the raw material base of the Aikhal mining and processing division, allowing it to keep annual outpu...Read More
RAPAPORT... Dino Rambidis will replace Orin Baranowsky as chieffinancial officer of Stornoway Diamond Corporation."Dino...is a seasoned leader with extensive financialexperience, and is a valuable addition to our leadership team," Stornoway CEOPatrick Godin said last week. Rambidis will take up his new position immediately, bringing with him over 30 years of experience in the financial indu...Read More
RAPAPORT... US jewelry companies are shutting their doors at a slowerpace, as the number of businesses leaving the sector declines by nearly two-thirds,according to the Jewelers Board of Trade (JBT). The number of jewelry businesses exiting the market dropped64% in the first quarter versus the same period a year ago, to 125. Retailersconstituted 100 of those - 65% fewer than last year, while the n...Read More
RAPAPORT... Chow Tai Fook's sales increased in the fourth quarter, amida rise in demand for gold products and stronger consumer sentiment on themainland. Retail sales jumped 24% in mainland China in the threemonths ending March 31, while same-store sales - at branches open for at leastyear - climbed 9%, the jeweler reported last week. Hong Kong and Macau retailsales increased 7% during the period,...Read More
RAPAPORT... Signet Jewelers is laying off an undisclosed number of employeesfrom its Ohio and Dallas locations, after it failed to find enough interest ina voluntary exit package it offered workers. The cuts are part of a cost-saving effort the retailer hasbeen instituting over the past several months in line with its transformationplan. "In order to make our company more agile and efficient andt...Read More
RAPAPORT... Signet Jewelers is laying off an undisclosed number of employeesfrom its Ohio and Dallas locations, after it failed to find enough interest ina voluntary exit package it offered workers. The cuts are part of a cost-saving effort the retailer hasbeen instituting over the past several months in line with its transformationplan. "In order to make our company more agile and efficient andt...Read More
RAPAPORT... The Gemological Institute of America (GIA) has appointedShahdeh Ammadi director of institute relations, a newly created position. In her role, Ammadi will oversee the institute's globalalumni and GemKids programs, as well as its guest services. She was previouslythe director of alumni relations and annual giving at the Columbia UniversityGraduate School of Architecture, Planning and Pr...Read More
RAPAPORT... Petra Diamonds has unearthed a white diamond weighing 209.9carats at its Cullinan mine in South Africa. The D-color, type II, gem-quality stone is the fourth over100 carats the miner has recovered this year, and the third since the beginningof March, it said last week. Those included a 425.10-carat stone,which it named The Legacy, and a 100.83-carat diamond. Petra will sell its latest...Read More