News flow out of the diamond industry in 2018 has been dominated by the progression of lab-created diamond production, distribution and pricing dynamics. Numerous new players have entered the space, production capabilities have improved and supply has been scaled. This year alone, the price differential of a generic 1-carat lab-created diamond has fallen by almost 50% relative to the price a compa...Read More
RAPAPORT... Will the holiday season bring joy to wholesalers andmanufacturers? Traditionally, the industry looks to the fourth quarter to turna profit, but some are taking a longer view in hopes of making the holidayspart of a 12-month business."All barometers point to a strong holiday season," saysRonnie VanderLinden, president of New York-based diamond manufacturer Diamex,as well as of the Diamo...Read More
RAPAPORT... Polished-diamond imports to the US grew in September,according to government data.Shipments into the country increased 10% year on year to$1.95 billion, the third consecutive monthly rise, even as import volume dropped19% to 902,000 carats, figures showed. The average price jumped 35% to $2,157per carat. Polished exports slid 3% to $1.66 billion, while netpolished imports - repres...Read More
(IDEX Online) - Despite an increase in sales and profit in the first half of this year, Hong Kong's Tse Sui Luen Jewellery fears the impact of the US-China trade war on business. There has been rising retail sentiment in Hong Kong since September last year boosted by higher numbers of mainland tourists and growing sales to local customers, said Chairwoman Annie Yau. "However, t...Read More
ASX-listed Newfield Resources’ Tongo diamond project, in Sierra Leone, now has a Joint Ore Reserves Committee-compliant resource estimate of about 7.4-million carats, spread across four kimberlites.About 1.9-million carats, or about 25% of the updated in-situ resource, is classed in the indicated category, which underlines a considerably higher confidence level in key geological and technica...Read More
(IDEX Online) - IBM projects year-on-year retail sales growth of 4.83%, compared to 4.2% in 2017, due to ongoing high levels of consumer confidence. Jewelry sales are seen rising by 5.2%, although consumer appliances lead all product categories with a 15.2% projected increase, followed by clothing. "Weather conditions will affect what people buy and when," IBM said in a statement. "...Read More
RAPAPORT... Polished-diamond imports to the US grew in September,according to government data.Shipments into the country increased 10% year on year to$1.95 billion, the third consecutive monthly rise, even as import volume dropped19% to 902,000 carats, figures showed. The average price jumped 35% to $2,157per carat. Polished exports slid 3% to $1.66 billion, while netpolished imports - repres...Read More
RAPAPORT... Birks Group's sales grew in the six months to September 29as the retailer opened its renovated flagship store in Montreal, Canada.Sales rose 6% to CAD 68.7 million ($51.9 million) in thefiscal first half at the jeweler's continuing operations, which exclude theMayors division it sold to Aurum Holdings in August 2017. Comparable-storesales - which further eliminate branch openings such...Read More
RAPAPORT... Belgium's polished trade grew strongly inOctober, according to data from the Antwerp World Diamond Centre. Exports rose 17% amid a higher average price and steady volumes,reflecting trading in higher-value diamonds. Export value was up for the first 10 months of the year, also boosted by an increase in the average price. Millions unless stated otherwiseRead More
RAPAPORT... IBM has forecast strong growth in jewelry sales over theholiday retail season amid robust consumer sentiment. Purchases in the category will rise an estimated 5.2% yearon year during the festive period, IBM vice president and chief scientistMichael Haydock said Thursday. Jewelry is in fourth place in the company's list of the topsix categories, behind consumer appliances and vari...Read More
(IDEX Online) - Botswana has put together a negotiating team for talks with De Beers about the sides' next sales agreement which is set to replace the current agreement which runs out in 2020. Botswana wants to significantly increase its share of independently marketed and sold rough to 30% from the current 15% that was agreed in 2011, according to an industry source. Botswana a...Read More
RAPAPORT... Birks Group's sales grew in the six months to September 29as the retailer opened its renovated flagship store in Montreal, Canada.Sales rose 6% to CAD 68.7 million ($51.9 million) in thefiscal first half at the jeweler's continuing operations, which exclude theMayors division it sold to Aurum Holdings in August 2017. Comparable-storesales - which further eliminate branch openings such...Read More
RAPAPORT... Birks Group's sales grew in the six months to September 29as the retailer opened its renovated flagship store in Montreal, Canada.Sales rose 6% to CAD 68.7 million ($51.9 million) in thefiscal first half at the jeweler's continuing operations, which exclude theMayors division it sold to Aurum Holdings in August 2017. Comparable-storesales - which further eliminate branch openings such...Read More
New mining projects, particularly in the gold sector, are expected to drive strong economic growth in Canada's far north, with Yukon and Nunavut surpassing the rest of Canada by 2010, a new report shows.According to The Conference Board of Canada's latest Territorial Outlook, the nearby Northwest Territories (N.W.T.), however, face challenging times as the diamond industry there matures and prod...Read More
JOHANNESBURG (miningweekly.com) – South Africa’s transport infrastructure was built for and remains better suited to the movement of precious metals and diamonds, Herbert Smith Freehills (HSF) consultant Biddy Faber told attendees at a roundtable to discuss comparisons between South African and Brazilian mining and infrastructure investments, on Thursday.The event, held in Rosebank, w...Read More
Leading diamond exploration, evaluation and mining geologists Dr Mike de Wit and Dr John Bristow – in collaboration with the University of Pretoria Geology Department and Enterprises University of Pretoria – presented a short course on ‘Diamond Exploration and their Primary and Secondary Sources’ to fourth-year university students and interested delegates last month. The in...Read More
CULLINAN, Gauteng (miningweekly.com) – A R200-million electrical infrastructure project has been impressively completed at the Cullinan diamond mine of the London-listed Petra Diamonds through the combined effort of four Zest WEG Group companies. The companies adopted an integrated solutions approach in providing multiple and diverse energy packages on surface and underground to power the c...Read More
Lab-grown diamonds, made for decades as an inexpensive alternative to mined stones for industrial purposes, are cracking the consumer market, largely thanks to millennials' evolving shopping tastes.In a recent survey of 1,000 consumers aged between 21 and 40, half of which had household incomes of $50,000 or higher, nearly 70% said they would consider buying a lab-grown diamond for an engagement r...Read More
Zimbabwean miner RioZim is suing the country's Reserve Bank for $92 million, in a move intended to force it pay for more of its gold purchases from the company in US dollars.The company operates three gold mines, a nickel refinery and holds a minority stake in the Rio Tinto-run Murowa Diamonds. RioZim claims the bank is not paying enough for its products in American currency, as promised, which...Read More
Polished market stable as jewelers complete holiday orders. Outlookoptimistic for season, but stock-market volatility may impact luxury spendingafter Dow slumps 3.7% during Thanksgiving week. Mall-based retailersdiscounting to compete with online Black Friday deals. Prices of small polishedweak. Manufacturing margins tight, despite recent rough price cuts. DeBeers Nov. sight valued at $440M. Hong...Read More