LONDON – Russian State-controlled miner Alrosa, the world's biggest producer of rough diamonds in carat terms, raised $11.8-million in its first New York diamond auction of the year, as it seeks to increase its activity in the US.Rebecca Foerster, president of Alrosa, North America, said sanctions against some Russian companies did not diminish the appeal of Russian high quality diamonds...Read More
RAPAPORT... Forevermark is debuting a new campaign for the bridalmarket, De Beers' first in this category in almost 20 years. The new initiative will address consumers' changingattitudes toward love, marriage and engagement, Forevermark US presidentCharles Stanley said Friday. The campaign will launch together with thecompany's new bridal line, the Forevermark Engagement and Commitment Collec...Read More
RAPAPORT... Stornoway Diamond Corporation increased its net loss in2018 amid delays in the transition of its Renard mine in Canada and therecovery of lower-than-expected grades. The deficit widened to CAD 329.4 million ($246.8 million),compared with a loss of CAD 114.2 million ($85.6 million) the previous year,the miner said last week. The delays held back operations as Stornoway moved from o...Read More
RAPAPORT... Petra Diamonds has unearthed a 425.10-carat white diamond atits Cullinan mine in South Africa, it said Friday. The D-color, type II, gem-quality stone comes from the samemine that produced the 3,106-carat Cullinan diamond in 1905, the largest gem-qualitydiamond ever recovered. The stone won't be sold until the fourth fiscal quarter ending June 30. However, analysts have already is...Read More
RAPAPORT... The Gemological Institute of America (GIA) has updated thelanguage in its lab-grown-diamond certificates to align them withrecent Federal Trade Commission (FTC) guidelines. The grading lab will no longer use the term synthetic whenreferring to diamonds created in a lab, either inside its reports, or in the title, it said Friday. The new reports willalso feature the same 4Cs...Read More
Feriel Zerouki, Senior Vice President of International Relations and Ethical Initiatives, De Beers Groupis the recipient of the 2019 Initiatives in Art and Culture Award for Leadership in Responsible Practice in Jewelry, Initiatives in Art and Culture (IAC) announced. With the award, Zerouki is recognized "for elevating the conversation internationally on sustainability through the De Beers...Read More
Angola plans to stop using its oil production to obtain loans or credit from other countries, such as China, Brazil and Israel. Speaking to the TASS news agency, the Angolan president, Joao Lourenco, said that this also concerned China, from which Angola had received many billions of dollars in loans for the reconstruction of the country, after the end of the civil war."The amount of oil we export...Read More
RAPAPORT... Firestone Diamonds decreased its net loss in the first fiscalhalf, as sales grew despite weak prices,the miner said Thursday. The company reported a loss of $6.6 million fromits Liqhobong mine in Lesotho for the six months ending December 31, comparedwith a loss of $7.8 million the previous year. "The second half of 2018 saw a global price slump in thesmaller, lower-value goods, w...Read More
Stornoway reported a net loss of C$329.4 million for 2018 compared to Net loss of C$114.2 million in 2017. In 2018, Stornoway sold 1,038,967 run-of-mine carats for gross proceeds of C$141 million at an average price of US$105 per carat. The company sold an additional 164,322 carats of supplemental diamonds for gross proceeds of C$3.5 million at an average price of US$16 per carat. Patrick Godin,...Read More
Petra, one of the junior diamond miners that is suffering from stock value undervaluation, pulled a 425.10-carat Type II white rough diamond from its famous Cullinan diamond mine Petra Diamonds announced that it has recovered a 425.10 carat D colour Type II gem quality diamond earlier on March 29 from its famous Cullinan Diamond Mine. In its announcement, Petra said that "this recovery further de...Read More
@import url(https://ofc.rapaport.com:449CuteSoft_Client/CuteEditor/Load.ashx?type=style&file=SyntaxHighlighter.css);@import url(styles/editnewscuteeditor.css); RAPAPORT... The Gemological Institute of America (GIA) has updated thelanguage in its lab-grown-diamond certificates to conform to the recent Federal Trade Commission (FTC) guidelines.The grading lab will no longer use the term sy...Read More
More than three years after two treasure hunters claimed to have found a Nazi train laden with gold and gems in the Polish city of Walbrzych, one of the men looking for it has unearthed another kind of treasure: two dozen priceless Renaissance portraits.Piotr Koper, who spent years hunting for the elusive train rumoured to be laden with gold and gems, has found two dozen priceless Renaissance p...Read More
Shares in Petra Diamonds (LON:PDL) jumped more than 8% on Friday after the miner announced it had dug up a 425.1 carat, D-colour, Type II gem quality diamond at its iconic Cullinan mine in South Africa.The discovery comes less than a month after Petra found a 100.83 carat gem-quality white diamond at the same mine, source of the world's biggest-ever diamond, which was unearthed in 1905.Earlier in...Read More
The Accredited Gemologists Association announced the presenters of its AGA Las Vegas Conference that will take place on Friday, May 31, 2019 at the Westin Las Vegas. A regular at AGA conferences, GIA's Shane McClure will be talking about "Detecting Heat Treatment Levels in Corundum." McClure, a recipient of the Antonio C. Bonanno Award for Excellence in Gemology (2007), will tel...Read More
Firestone Diamonds announced its interim results of its Liqhobong mine for the six months ended 31 December 2018. The company recovered 465, 680 carats, among which was the mine's largest diamond found to date, a 326-carat light yellow makeable stone. The aerage value per carat realized was $71, somewhat lower than in the parallel period in 2018. The lower price per carat is the result...Read More
London-listed Petra Diamonds has recovered a 425.10 ct D-colour Type II gem-quality diamond at its Cullinan mine, in South Africa."The recovery further demonstrates the prevalence of these types of stones in the Cullinan orebody, as well as the ability of the mine's plant to recover the full spectrum of diamonds," the company said in a statement on Friday.AdvertisementIt expects the...Read More
In an interview with Mining Review Africa. Bruce Cleaver, CEO of De Beers Group, reiterated the company's focus on its African portfolio. "Mining in Africa is at the core of our business, just as it always has been, and just as it will be in future. While Venetia is currently our only mine in South Africa, it is one of the world's only Tier 1 assets. With our US$2 billion investment t...Read More
Baselworld closed its doors on Wednesday, March 26. Michel Loris-Melikoff, Managing Director of Baselworld, concluded the show's closing press conference saying: "Baselworld 2019 is now history, and we look forward to 2020." Noting that 2019 was a year of transition for Baselworld, Melikoff reported that 520 brands had exhibited at Baselworld 2019. This year's show was attended by 81,...Read More
The low price environment in which the Renard diamond mine began its operations two years ago is continuing to affect the company operating the Quebec-based mine, with Stornoway Diamonds ending 2018 in the red.The listed diamond miner on Thursday reported a net loss of C$329.4-million, or C$0.39 a share, on lower revenue of C$165.5-million. This compares with a net loss of C$144.22-million in 2017...Read More
Aim-listed Firestone Diamonds has determined that the proposed Cut 3 life-of-mine expansion at its 75%-owned Liqhobong mine, in Lesotho, is not currently economically viable.The Cut 3 expansion project would have increased the life of the mine by three years and result in 40% more carats compared with the current eight-year mine life.AdvertisementHowever, the company this week said that, at the cu...Read More