(IDEX Online) - A hesitant start to 2024. Round prices started to pick up in December, but haven't followed through in January. And fancies sustained some significant losses during the month. We're in the lull between the holiday season and Valentine's Day, and nobody's really sure which way prices are moving. India's two-month moratorium is credited with sparking some rec...Read More
(IDEX Online) - Sanctioned Russian miner AGD Diamonds has announced its first "extra large" recovery of 2024 - a 52.47 carat gem quality diamond.AGD produces diamonds from the Grib diamond pipe - named after Russian geologist Vladimir Grib - 130km from Arkhangelsk, in north-west Russia.Its Belgium-based subsidiary, Grib Diamonds, was also sanctioned when the US responded to the invasion of Ukraine...Read More
IDEX Online) - Rough sales showed some early signs of recovery at De Beers' first sight of the year. The UK-based miner said yesterday (31 January) that demand was increasing but cautioned that a full recovery would take time. Total sales (provisional) for Cycle 1 were $370m as India resumed purchases after a two-month moratorium and US consumer spending increased during over the holiday seas...Read More
(IDEX Online) - Alrosa and Endiama are reported to be heading for a messy divorce over Catoca, the world's fourth biggest diamond mine.The Russian and Angolan mining companies, both state-controlled hold 41 per cent and 59 per cent stakes respectively in Sociedade Mineira de Catoca, the company that operates the mine.Angola is pushing for Alrosa to withdraw unconditionally from the venture, a...Read More
(IDEX Online) - The Kimberley Process today is under renewed pressure to review its definition of conflict diamonds as it concludes a closed meeting today (31 January) in Dubai.KP Civil Society Coalition (KPCSC), the observer group of mostly African diamond-producing countries, says in a statement that such a move is long overdue, especially given Russia's invasion of Ukraine."Civil society i...Read More
(IDEX Online) - Sisters Chloe and Halle Bailey, who found fame as singing duo Chloe X Halle, are Pandora's newest global ambassadors, together with actress Selma Blair, best known for the movies Cruel Intentions, Legally Blonde and The Sweetest Thing.They're part of a new new brand campaign "Be Love", designed to broaden consumer perception of Pandora as a full jewelry brand, beyond the...Read More
(IDEX Online) - A 21.38 carat Fancy Vivid Yellow diamond is to be auctioned tomorrow (31 January) at Sotheby's Hong Kong with an estimate of HKD 8,000,000 to 11,000,000 HKD ($1m to $1.4m).The radiant-cut VS1 gem is flanked by two tapered baguette diamonds, mounted in platinum and 18 karat yellow gold, inscribed HW (Harry Winston).The FCRF (Fancy Color Research Foundation) gives the ston...Read More
(IDEX Online) - Lucapa reported a slight increase in total rough sales for FY2023 in what it described as a solid performance.The Australian miner announced revenues of $102.2m, up by 1 per cent on the previous year.Q4 earnings from its two mines - Lulo in Angola and Mothae in Lesotho - slipped by 1 per cent to $40.8m.During the year Lucapa sold 11 diamonds from Lulo that fetched a total of $32.7m...Read More
(IDEX Online) - Adamas One Corp, the publicly traded lab-grown diamond company, could be delisted from the Nasdaq after failing to submit financial details on time. It says that despite missing its deadline, it was "working diligently" and expected to file its Annual Report 2023 Form 10-K shortly.Adamas One produces single-crystal diamonds for gemstone and industrial applications in Greenvill...Read More
(IDEX Online) - Botswana's diamond industry says it is concerned and frustrated by new requirement that all diamonds are certified in Antwerp before entering G7 countries.The single entry point is a part of a sanctions package aimed at outlawing Russian diamonds. It was partially introduced on 1 January and will be rolled out in coming months.Brad Brooks- Rubin, head of the G7 Diamond Technic...Read More
(IDEX Online) - Tiffany & Co is targeting high-spending customers in China with a digital recreation of its flagship store in Paris.Visitors to the luxury e-commerce platform Tmall Luxury Pavilion will able to browse the virtual La Place Vendome outlet and make purchases.Tmall is a Chinese-language website for B2Conline retail, launched in 2008 by Alibaba Group which generated $126bn revenue l...Read More
(IDEX Online) - A TikTok video of a woman who accidentally broiled her topaz and diamond ring in the oven with Brussel sprouts for Thanksgiving Day has had over 2.4m views.Jacki Gansky, 29, was concerned it wouldn't survive 30 minutes in a 415F/215C oven, but she needn't have worried.Diamonds and topaz are both formed at temperatures of around 2,000F/1,050C.Jacki, a US actress received t...Read More
(IDEX Online) - A tourist from France found one of the largest diamonds ever recovered at the Crater of Diamonds State Park, in Arkansas, USA.Julien Navas unearthed a 7.64 carat chocolate brown stone, after days of heavy rain washed away soil at the "dig your own diamond" attraction.Visitors using basic tools search the 37-acre field - the eroded surface of a volcanic crater - for a variety...Read More
(IDEX Online) - LVMH saw improved performances from its watches and jewelry businesses during 2023, with reported revenue up three per cent to $11.84bn.Organic revenue grew by a "robust" 7 per cent and profit from recurring operations was also up 7 per cent, the company said in its full year results published on 25 January.The French luxury conglomerate, which owns 75 maisons, reported total...Read More
(IDEX Online) - A luxury lab grown startup has won an investment of just over $315,000 on the UK reality TV show Dragons' Den.Sidney Neuhaus and Jessica Warch, friends from Antwerp, established the jewelry brand Kimai in 2018 and found fame a year later when Meghan Markle wore a pair of their earrings. They sent her a cold email.The pair impressed Steven Bartlett, one of the dragons (judges)...Read More
(IDEX Online) - Thieves used a vehicle as a battering ram to smash their way through glass doors into a jewelry store in Windsor, Ontario, Canada.They fled with what police describe as "substantial" amount of jewelry from Griffin Jewellery Designs in a 4am heist at the Tecumseh Mall on Tuesday (23 January).The front of the building was badly damaged and the vehicle used in the ramming was later fo...Read More
(IDEX Online) - Trans Atlantic Gem Sales (TAGS) sold just over $14m of rough at its latest tender in Dubai, with buyers appearing a little more positive.Bidding was strong across all ranges, the company said, and many prices 3grs to +10cts were up a few per cent on the previous tender in December.However a quarter of the goods offered - 20,000-plus carats valued at over $20m - remained unsold.Nine...Read More
(IDEX Online) - Mountain Province Diamonds (MPD) today (24 January) reported FY 2023 sales of $243.7m, down 18 per cent on the previous year.The Toronto-based miner sold 2.7m carats in both 2022 and 2023 from the Gahcho Kue mine it operates as a joint venture with De Beers in Northwest Territories, Canada, but average per carat prices fell from $112 to $90.It said price drops reflected the lower-v...Read More
(IDEX Online) - Six people are reported to have died when a small plane headed for Rio Tinto's Diavik diamond mine, in Canada's remote Northwest Territories, crashed shortly after take-off yesterday (23 January).There has been no official confirmation of the death toll, but AFP (Agence France-Presse) quotes an aviation source as saying six people died and one survived.The tragedy comes l...Read More
(IDEX Online) - Richemont saw revenue from Buccellati, Cartier, Van Cleef & Arpels and its other jewelry brands climb 12 per cent to $4.3bn (at constant exchange rates) during the last three months of 2023.Specialist watchmakers sales rose by 3 per cent, reflecting a retail outperformance, notably at A. Lange & Sohne, IWC, Jaeger-LeCoultre and Vacheron Constantin.The Swiss luxury conglomer...Read More