RAPAPORT... Alrosa's sales fell in January amid market weakness, the miner said Tuesday. Proceeds decreased 44% year on year to $281.5 million.Rough-diamond sales dropped by the same percentage to $278.2 million, while polished revenue slid38% to $3.4 million, according to Rapaport calculations. "In January, market activity was lower than usual," said Alrosa deputy CEO Yury Okoemov. "Sales i...Read More
RAPAPORT... The World Federation of Diamond Bourses (WFDB) has agreed tohelp promote business for the Korea Diamond Exchange (KDE). The trade bodies signed a cooperation agreement inJohannesburg, South Africa, last week, with the WFDB committing to assist thebourse in lobbying the South Korean government on matters relating to thediamond trade. The trade bodies will work together to build up...Read More
(IDEX Online) - The Indian Diamond & Colorstone Association, an association of jewelers, diamantaires and colored stone dealers, hosted its 35th Annual Tucson Gala on February 7. IDCA President Nilesh Sheth reminded his audience that the diamond, gem and jewelry industry had faced many disruptive changes, but that that the key challenge is to adapt and work around these changes. "Our I...Read More
(IDEX Online) - Recent research has indicated that the slowing Chinese economy has not stopped consumers from buying luxury items. However, instead of spending their money in boutiques overseas, consumers are increasingly buying their luxury goods in shopping malls at home. LVMH, which markets brands such as Louis Vuitton and Hennessy, registered higher sales in China in the fourth...Read More
(IDEX Online) - Piers Pigou, a political analyst and senior consultant at the International Crisis Group (ICG), argues that Zimbabwe still has a long way to go towards fostering transparency in its opaque diamond sector. "Good governance in the diamond sector, which includes tangible progress towards improved transparency and accountability, remains a key litmus test of the Zimbabwean gove...Read More
Aim-listed Firestone Diamond has recovered a 70 ct white, makeable diamond from its Liqhobong mine, in Lesotho.CEO Paul Bosma said on Tuesday that the 70 ct stone was recovered in the northern, low grade part of the pit where the bulk of Firestone’s mining would take place in the coming months.Advertisement“Although the market for the smaller stones has been under pressure, we’ve...Read More
(IDEX Online) - At a Global Diamond Roundtable held earlier this month during the Investing in Africa Mining Indaba, participants discussed the fall in prices of lower quality, cheaper diamonds and indicated that if this situation is to continue, the so-called diamond juniors may not survive the onslaught, unless there is a positive turnaround in the market. Firestone Diamonds CEO Paul Bosm...Read More
RAPAPORT... Kering recorded robust sales in its jewelry-and-watchdivision in 2018, amid growing demand for its products in Asia.Jewelry sales rose 7% to EUR 18 billion ($20.33 billion) at the French luxury group, which owns Boucheron, Pomellato and Qeelin. Timepiece sales remained solid, it added."The jewelry houses turned in a solid performance, and sales of the watches brands advanced for t...Read More
Following a strong performance in December, Russian miner Alrosa’s rough and polished diamond sales fell to $281.5-million in January – a 44% decrease on the same month in 2018.January’s rough diamond sales amounted to $278.2-million and polished diamond sales were $3.4-million, the company reported on Tuesday.Advertisement“In January, market activity was lower than usual....Read More
RAPAPORT... Firestone Diamonds has unearthed a 70-carat white rough stone fromits Liqhobong mine in Lesotho. "The 70-carat stone was recovered in the northern, low-gradepart of the pit, where the bulk of our mining will take place in the comingmonths," Firestone CEO Paul Bosma said Tuesday. The stone - which was removed undamaged - follows the miner'sdiscovery of a 46-carat white diamond in...Read More
RAPAPORT... Switzerland's G? 1/4 belin Gem Lab has launched a blockchain forcolored gemstones, which, it claims, will enable source verification throughoutthe entire supply chain. The digital ledger is now open to industry members wishingto place their gemstones on the platform, the Lucerne-based institute saidafter unveiling it at the AGTA GemFair Tucson show last week. The blockchain will recor...Read More
RAPAPORT... Zimbabwe Consolidated Diamond Company (ZCDC) expects a 46% jumpin its rough-diamond production in 2019. The nation's rough-diamond output will reach 4.1 millioncarats this year, up from 2.8 million last year, the miner told RapaportNews last week. In 2017, the company produced 1.8 million carats. Prices ofrough should also increase as the state-owned miner implements a new diamond...Read More
RAPAPORT... The lab-grown-diamond sector is enjoying a spike in awareness among US consumers and is starting to make headway into the engagement-ring market, according to a report commissioned by the International Grown Diamond Association (IGDA) and carried out by MVI Marketing. "Over the last two years, the anecdotal feedback from IGDA members has been that the bridal category is where they...Read More
RAPAPORT... The US saw a 4% decline in polished-diamond imports inNovember, according to data from the US Census Bureau. The average price fell9%, outweighing a 5% increase in volume. Trade figures were still positive forthe January-to-November period, with a 7% jump in total import value,reflecting a similar rise in the price per carat.US Diamond Trade Data for November 2018 Millions unles...Read More
Aim-listed BlueRock Diamonds has raised £575 000 before expenses through the issue of 191.67-million shares at a price of 0.3p a share. The funds will be used to continue the development of the Kareevlei mine, in the Kimberley region of South Africa.AdvertisementThe recent recovery of large, high-quality gem diamonds has encouraged the company to look at ways to fast-track its productio...Read More
RAPAPORT... The lab-grown-diamond sector is enjoying a spike in awareness among US consumers and is starting to make headway in the engagement-ring market, according to a report by the International Grown Diamond Association (IGDA)."Over the last two years, the anecdotal feedback from IGDA members has been that the bridal category is where they've had most success," said Richard Garard, secre...Read More
JOHANNESBURG (miningweekly.com) – Mining must take place with a strong focus on the interests of those who live in mining areas, says Mineral Resources Minister Gwede Mantashe, a standpoint that supports the notion that a mining right and a land right can co-exist, without pleasing one party at the expense of the other. But the Xolobeni judgment turns this around, says legal firm Bowma...Read More
(IDEX Online) - A gang of thieves suspected of carrying out a diamond theft during the International Diamond Week at the Israel Diamond Exchange (IDE) at the end of January, were arrested a few hours after the theft, the IDE said in a statement. The arrests took place after the IDE's security team quickly alerted the police and supplied a picture of one of the suspects. The gang of...Read More
RAPAPORT... The lab-grown-diamond sector is enjoying a spike in awareness among US consumers and is starting to make headway in the engagement-ring market, according to a report by the International Grown Diamond Association (IGDA)."Over the last two years, the anecdotal feedback from IGDA members has been that the bridal category is where they've had most success," said Richard Garard, secre...Read More
The Minerals Council of Australia published a report titled The Next Frontier: Australian Mining Policy Priorities where it asks the government to advanced a revived tax reform that removes barriers that hinder the growth of the country's mining sector.According to the Council, such reform would encourage additional investment in capital and technology."Australia should have strong tax integrity r...Read More