The Diamond Producers Association (DPA) announced today the third wave of the Real is Rare, Real is a Diamond campaign. Entitled 'For Me, From Me', the campaign is inspired by the natural diamond industry's strongest growth engine, women self-purchase, which today represents one-third of all diamond jewelry sales in the US, a $43 billion diamond market that grew +4% in 2017, according to De Beers...Read More
Wholesale prices for lab-grown diamonds have fallen by up to 60 percent since De Beers began selling synthetic stones for jewellery in September, CEO Bruce Cleaver said on Thursday, adding margins for the sector would continue to fall.De Beers, part of mining group Anglo American, shocked the diamond industry last year when it announced it was reversing a decades-old policy of selling natural diam...Read More
Canadian miners continued going down the slippery slope in the last three months of 2018 due mostly to weak commodity prices, triggered by a slowdown in China's economy near the end of the year, the latest report by Ernst & Young (EY) reveals.As a result, EY's Canadian Mining Eye index - which tracks the performance of 100 Toronto Stock Exchange and TSX Venture Exchange mid-tier and junior mi...Read More
Rising expectations for Hong Kong show (Feb.26), with hope that Chinese buyers will resume bulk orders following 2018 slowdown.Dealers uncertain about prices. Suppliers taking a lot of goods to the show. Top-makeRapSpec A2+ seeing steady demand and short supply. Rough market cautious aheadof De Beers sight, as manufacturers are squeezed by high rough prices andinflated polished inventory. De Beers...Read More
Suppliers optimistic for Hong Kong show, with signsof improvement in polished trading. Overseas buyers looking for top-make VS-I1goods, with shortages in select categories. Manufacturers maintaining lower production,as inventory of low-quality polished remains high. Tight liquidity due toreduced bank credit, squeezed profit margins and delayed payments from someoverseas clients. Local jewelry mark...Read More
RAPAPORT... A yellow diamond ring that once belonged to the royal familyof Hawaii sold for $519,500 at auction Sunday. The old-mine-cut, 34.28-carat, fancy-light-yellow,VS2-clarity diamond ring, set in platinum and white gold, was the lead item atthe Clars Auction Gallery sale in Oakland, California. It realized $15,155 percarat, according to Rapaport calculations. The piece - with a hi...Read More
RAPAPORT... In a bold and somewhat savvy move back in January 2018, Tyson Foods, one of the largest food-processing companies in the US, took a minority stake in Memphis Meats, a startup in the budding cultured-meat industry. Despite the deal's sleeping-with-the-enemy feel, the investment sparked little controversy, as Tyson was the latest in a line of high-profile investors in the food-tech busin...Read More
RAPAPORT... De Beers' earnings fell in 2018 due to the costs of new initiatives such asits Lightbox synthetics business.Underlying earnings slid 34% to $349 million, as capital expenditure rose 53% to $417 million for the year, the company reported Thursday. That included outlays related to the launch of De Beers' lab-grown jewelry brand, as well as its Tracr blockchain program, and Gemf...Read More
Anglo American subsidiary De Beers achieved a 4% year-on-year increase in revenue to $6.1-billion in 2018, compared with $5.8-billion in 2017, which was supported by improved high-end jewellery sales at De Beers Jewellers.Its earnings before interest, taxes, depreciation and amortisation, however, decreased by 13% to $1.2-billion, compared with $1.4-billion in 2017.Advertisement“While unit c...Read More
On Wednesday, hopes that an escalation of the trade war between the US and China can been avoided (or at least postponed) sparked a massive rally in mining stocks - already buoyed by climbing metals prices.US President Donald Trump said yesterday he may not increase tariffs on Chinese products on March 1, as talks about the trading relationship between the world's two largest economies continue in...Read More
A report published by Fitch Solutions states that due to the prevalence of off-grid remote mineral deposits in Sub-Saharan Africa and the fact that traditional grid-power tends to be unreliable in those mines, mining companies operating in the region should invest in renewable energy.According to the market research firm, off-grid mines could benefit from reducing their dependency on diesel while...Read More
RAPAPORT... India's polished-diamond exports dropped 16% to $1.75 billion in January,continuing their recent weakness. A slide in the volume of shipments outweigheda higher average price, according to data the Gem & Jewellery ExportPromotion Council (GJEPC) released this week. Rough imports also plunged,mirroring a similar trend in the Belgian market in January as demand from manufacturersslow...Read More
RAPAPORT... Gem Diamonds has recovered a high-quality, 13.33-carat pinkdiamond in Lesotho. The type I diamond was unearthed earlier this month at its Let??eng mine, and isthe first stone above 10.8 carats the company has reported this year. It is the largest pink diamond the miner hasrecovered since 2011, when it retrieved a 30.68-carat stone. In December it founda pink stone weighing 8.53 ca...Read More
RAPAPORT... Lucara Diamond Corp. has unearthed a 223-carat, high-qualitywhite diamond from its Karowe mine in Botswana. "[This year] is off to a great start, with several high-qualitydiamonds in excess of 100 carats having been recovered by mid-February, atestament to the strong, stable operating environment that has prevailed atKarowe since late 2018," Lucara CEO Eira Thomas said Tuesday. Th...Read More
RAPAPORT... A flawless white diamond with a high estimate of nearly $13million will head up April's Magnificent Jewels and Jadeite auction atSotheby's in Hong Kong. The oval brilliant-cut, 88.22-carat, D-color, flawless, typeIIa stone is one of only three oval diamonds over 50 carats offered in auctionhistory, Sotheby's said Tuesday. The stone - which has a presale estimate of$11.2 milli...Read More
Following a board review of the company’s diamond assets, Lucapa Diamond Company will prioritise production and cash generation from its two high-value diamond mines, the Lulo alluvial mine, in Angola, and the Mothae kimberlite mine, in Lesotho, to ensure shareholder value is maximised.This entails advancing the year-round Lulo kimberlite exploration programme to identify a possible source o...Read More
De Beers Group's latest course 'Synthetic Diamond Detection', is to be held at the Birmingham Assay Office on Tuesday 26th March 2019. The one-day intensive course has been designed by the De Beers Group Institute of Diamonds, in response to the rise in synthetic diamonds and the risk they pose to the integrity of the jewelry industry. Marion Wilson, Director of AnchorCert Academy, Birmingh...Read More
The Fancy Color Research Foundation (FCRF) contends that within a quarter of a century the majority of the 45 most notable diamond mines operating today will cease to exist. According to the FCRF, diamond prices will rise as supply wanes. The report states that no new 'mega-mine' is expected to be found in the foreseeable future. On the other hand, the world's wealthy population is expected to con...Read More
The Doha Jewellery and Watches Exhibition (DJWE) opened its 16th edition on February 20 at the Doha Exhibition and Convention Center (DECC). Representing the beginning of a new chapter with the 2019 edition, the organizers announced the launch of a new brand identity for the exhibition, including a new brand name: ''Qatar Show.'' The six-day B2C event, held under the auspices of the Qatar National...Read More
RAPAPORT... Lucara Diamond Corp. has unearthed a 223-carat, high-qualitywhite diamond from its Karowe mine in Botswana. "[This year] is off to a great start, with several high-qualitydiamonds in excess of 100 carats having been recovered by mid-February, atestament to the strong, stable operating environment that has prevailed atKarowe since late 2018," Lucara CEO Eira Thomas said Tuesday. Th...Read More