RAPAPORT... Lucara Diamond Corp. raised its production forecast for the fullyear after recovering more carats in the third quarter than it had anticipated. A strong operational performance at the Karowe mine'sprocessing plant resulted in improved recovery of smaller diamonds, Lucara saidThursday. The miner now expects to recover 325,000 to 350,000 carats in 2018, versusa previous estimate of...Read More
RAPAPORT... A Bulgari diamond ring will lead next month's Christie's NewYork auction with a presale estimate of $13 million to $18 million. The cushion-cut, 8.08-carat, fancy-vivid-blue piece will gounder the hammer at the Magnificent Jewels sale on December 5, the auctionhouse said last week. The stone is one of a number of colored diamonds on offer,including a heart-shaped, 15.56-carat, fa...Read More
RAPAPORT... The World Diamond Council (WDC) will propose an expandeddefinition of conflict diamonds at this week's Kimberley Process (KP) plenarymeeting in Brussels. The broader wording will address "grave and systematicviolence," the WDC said Thursday, without giving more details. The council willpresent the change to attendees before member states vote on the matter, WDCpresident Stephane Fischl...Read More
RAPAPORT... Richemont's jewelry sales increased 12% in the first fiscalhalf, though signs of weakening in Asia raised investor concerns.Jewelry proceeds at Cartier and Van Cleef & Arpels rose to EUR 2.45 billion ($2.77billion) in the six months ending September 30, while watch sales grew 4% year on year to EUR 2.49 billion ($2.82 billion), Richemont reported Friday.At constant exchange rates,...Read More
(IDEX Online) - The Central African Republic's (CAR) Minister of Mines and Geology, Leopold Mboli Fatran (pictured above), has appealed to international diamond mining and trading companies to engage in responsible sourcing in the country together with the CAR. It is the intent of the CAR government to look for partners for structural reform of its artisanal mining sector to revive the...Read More
(IDEX Online) - The Dubai Diamond Exchange (DDE), a subsidiary of DMCC, the world's flagship Free Zone and Dubai government authority on commodities trade and enterprise, in collaboration with Stargems Group, completed six successful rough diamond tenders of SACIM goods (Anhui-Congo Mining Investment Company) with over 2 million carats sold. The tenders were held at the Almas Tower with ar...Read More
(IDEX Online) - Rio Tinto's 2018 Argyle Pink Diamonds Tender collection of 63 rare pink, red and violet diamonds from its Argyle mine in Australia has delivered a record result reflecting strong global demand for fancy colored diamonds, the miner said. "These results are also a reflection of Argyle approaching the end of its mine life, with the supply of these extremely rare diamonds becom...Read More
(IDEX Online) - ALROSA said its rough diamond sales last month amounted to $233.9 million, while sales for the first 10 months of 2018 amounted to $3.8 billion. In October, ALROSA's total group sales were $242.8 million, a 28% decline on the year, with polished diamond sales amounting to $8.9 million. ALROSA's total diamond sales in January-October 2018 grew 6% YoY and amo...Read More
Rio Tinto Exploration Canada (RTEC) has started drilling the Fort à la Corne kimberlites, in Saskatchewan, as it reinvestigates these kimberlites that Star Diamond and other companies have previously explored.The Fort à la Corne kimberlites are outside the Star and Iron South kimberlites, which are the subject of an option agreement between RTEC and Canadian junior Star Diamonds.Adve...Read More
RAPAPORT... The World Diamond Council (WDC) will propose an expandeddefinition of conflict diamonds at this week's Kimberley Process (KP) plenarymeeting in Brussels. The broader wording will address "grave and systematicviolence," the WDC said Thursday, without giving more details. The council willpresent the change to attendees before member states vote on the matter, WDCpresident Stephane Fischl...Read More
RAPAPORT... Richemont's jewelry sales increased 12% in the first fiscalhalf, though signs of weakening in Asia raised investor concerns.Jewelry proceeds at Cartier and Van Cleef & Arpels rose to EUR 2.45 billion ($2.77billion) in the six months ending September 30, while watch sales grew 4% year on year to EUR 2.49 billion ($2.82 billion), Richemont reported Friday.At constant exchange rates,...Read More
Star Diamond Corporation (TSX: DIAM)today announced that Rio Tinto Exploration Canada ("RTEC") commenced an HQ core drilling program on 11 holes and 3,300 metres of drilling on five kimberlites.This program is the first phase of drilling of the Brownfields exploration program to investigate and prioritise the Fort ? la Corne kimberlites outside of the Star and Orion South kimberlites The core dri...Read More
ALROSA, the world's largest diamond miner, today announced diamond sales results for October and the first ten months of 2018.In October, ALROSA Group sold $242.8 million worth of rough and polished diamonds, down 28% YoY. Rough diamond sales by value amounted to $233.9 million, polished diamond sales were $8.9 million. In October, demand for small-size inexpensive rough diamonds remained weakALRO...Read More
Rio Tinto, (NYSE:RIO) the world's No.2 miner, announced today that it delivered record results at its 2018 Argyle Pink Diamonds Tender, which included 63 rare pink, red and violet diamonds from its Argyle mine in Australia.The mine is the biggest diamond operation down under, and the source of rare and prized fancy pink gems. Argyle has been active since 1983, first as an open pit mine and then fr...Read More
Lucara Diamond Corp achieved earnings before interest, taxes, depreciation and amortisation (Ebitda) of $18.2-million for the third quarter ended September 30, compared with the Ebitda of $49.8-million reported for the quarter ended September 30, 2017.The decrease in Ebitda reflects lower revenues attributable to a smaller volume and lower average price of exceptional stones sold, with the sales f...Read More
Metswedi Mining has received the first renewal for both prospecting licence (PL) 101 (430 km2) andPL58 (2.3c) which make up the Middlepitsproject, in Botswana, Canadian diversified junior mining company Tango Mining announced last month. The property is 470 km south-west of Gaborone and 90 km south-west of Tshabong, in the country’s Kgalagadi district.Advertisement TSX-V-listed Tango is set...Read More
MOSCOW – Russian diamond miner Alrosa said on Friday that its sales of rough and polished diamonds totalled $242.8-million in October, a year-on-year decrease of 28%.Alrosa said in a statement that its total diamond sales from January to October rose 6% year-on-year to $3.9-billion.AdvertisementTo watch Creamer Media's latest video reports, click here AdvertisementRead More
Polished trading slow as Indianmarket shuts for Diwali. Dealers focused on US orders ahead of holiday season,but hoping for boost from China's 11/11 Singles' Day. Alibaba expanding diamondand jewelry platform, enabling Belgian and Israeli suppliers to sell directlyto consumers. US e-commerce expected to rise 15% in Nov.-Dec. Rough tradingcautious ahead of De Beers sight as manufacturers hold large...Read More
Market very quiet, with most businesses closed for Diwali. Factoriesexpected to stay shut for two to four weeks, as dealers are stuck with largeinventories over the break. Jewelers report encouraging sales during thefestival, boosted by lower gold prices due to weak rupee. RoundRead More
RAPAPORT... The diamond and jewelry trade tends to be reactive rather than proactive. That was clear during the recent conference season, with the World Federation of Diamond Bourses (WFDB), the International Diamond Manufacturers Association (IDMA), the World Jewellery Confederation (CIBJO) and the World Diamond Council (WDC) all holding their annual meetings in October. Much of the discussion, a...Read More