Diamond Stocks Articles

More Brands Quit Baselworld 2019

Oct 21, 2018 / Leah Meirovich

RAPAPORT... Three watchmakers have reportedly statedtheir intention to leave Baselworld following Swatch Group's exit from the Swissshow. Zurich-based Maurice Lacroix will not participate in the 2019 event, a Baselworld spokespersonconfirmed to Rapaport News. Corum and Raymond Weil have also chosennot to attend, citing the high cost of exhibiting and claiming the trade showlacked fresh ideas...Read More

Hong Kong Jewelers See Revenue Spike

Oct 21, 2018 / Rapaport News

RAPAPORT... Sales rose sharply at Chow Tai Fook and Luk Fook in the second fiscal quarter, boosted by strong consumer demand,the lower price of gold, and tourism.Retail sales at Chow Tai Fook jumped 25% year on year inHong Kong and Macau in the three months ending September 30, while same-store sales- at branches open for at least year - surged 23%, the Hong Kong-based jeweler reportedThursda...Read More

Why a no-deal Brexit risks freezing London's diamond trade

Oct. 19, 2018, 12:27 PM / Bloomberg News

The U.K. has warned that a no-deal Brexit risks London being frozen out of the global diamond trade.Britain is a member of the Kimberley Process, the global certification program used to track and prevent the trade of conflict gems, through its European Union membership. The country will need to apply for its own membership post Brexit, and the government last week warned diamond traders that any...Read More

ALROSA starts large rough diamond auction in Vladivostok

Oct. 19, 2018, 12:04 PM / ALROSA

ALROSA, the world's largest diamond mining company, is starting the forth auction this year for the sale of special size rough diamonds (over 10.8 carats) in Vladivostok. The auction will start on October 22, and the results will be announced on November 2.The company is putting for sale 166 gem-quality rough diamonds with the total weight of 2,607 carats, including one fancy colored stone - 12.92...Read More

Mountain Province says recent diamond sale netted $24.2m

19th October 2018 / Creamer Media Reporter     

Toronto-based miner Mountain Province has netted $24.2-million from the sale of 366 505 ct in its most recent diamond sale, which the company says is in line with its expectations.The sale, held on October 5, realised an average value of $66/ct.AdvertisementMountain Province, which is a 49% participant with De Beers in the Gahcho Kué mine in the Northwest Territories, reported strong b...Read More

De Beers eyes tech markets for synthetic diamonds future 

19th October 2018 / Reuters     

TORONTO/LONDON – Anglo American unit De Beers is going after lucrative, but elusive high-tech markets in quantum computing, as it aims to expand its lab-grown diamond business beyond drilling and cutting.Element Six, De Beers' synthetic diamond arm, is building a $94-million factory in Portland, Oregon, an expansion that comes as scientists from Moscow to London push to develop diamonds...Read More

SRK Ghana expanding into other West African markets

19th October 2018 / Nadine James     

As the economic mood in the global mining industry improves, SRK Consulting’s Accra office, in Ghana, has been making inroads into new markets in Côte d’Ivoire and Togo, SRK Ghana country manager John Kwofie noted in a release last week. He believes that there is potential for improved investor interest in Ghana as well, as the country’s new government takes a more proactiv...Read More

Why a no-deal Brexit risks freezing London's diamond trade

19th October 2018 / Bloomberg     

LONDON – The UK has warned that a no-deal Brexit risks London being frozen out of the global diamond trade.Britain is a member of the Kimberley Process, the global certification program used to track and prevent the trade of conflict gems, through its European Union membership. The country will need to apply for its own membership post Brexit, and the government last week warned diamond trad...Read More

Mountain Province Diamonds latest sale nets $24 million

Oct. 18, 2018, 3:35 PM / Amanda Stutt

Total proceeds from Mountain Province Diamonds' (TSX: MPVD) latest sale were $24.2 million netted from 366,505 carats, the company announced today."These results were in line with our expectations and reflect current market conditions. We saw good price bids for our better quality larger goods where, the majority of our value lies," said Stuart Brown, Mountain Province Diamonds president in a stat...Read More

De Beers eyes tech markets for synthetic diamonds future

Oct. 18, 2018, 2:23 PM / Reuters

TORONTO/LONDON, Oct 18 (Reuters) - Anglo American unit De Beers is going after lucrative, but elusive high-tech markets in quantum computing, as it aims to expand its lab-grown diamond business beyond drilling and cutting.Element Six, De Beers' synthetic diamond arm, is building a $94 million factory in Portland, Oregon, an expansion that comes as scientists from Moscow to London push to develop d...Read More

Alrosa test non-dollar deals to sidestep any US sanctions

Oct. 18, 2018, 2:15 PM / Reuters

MOSCOW, Oct 18 (Reuters) - Several major Russian companies are exploring ways to do deals abroad without using dollars, spurred on by a U.S. threat to broaden sanctions that have impeded access of some Russian firms to the international banking system.The Kremlin has been pushing companies to conduct more deals using other currencies to reduce reliance on the dollar.Russian Alrosa, the world's big...Read More

Rapaport Weekly Market Comment

Oct 18, 2018 / Rapaport News

Melee weakand prices softening as rupee depreciation (-8% in three months to INR 73.53/$1on Oct. 18) impacts Indian demand. Threat of undisclosed synthetics alsoinfluencing jewelers to avoid melee inventory. US orders and memo for 0.70 to1.99 ct. diamonds supporting the market. Sears files for bankruptcy,highlighting need for retailers to innovate, improve in-store and onlinecustomer engagement, a...Read More

India: Small-Diamond Demand Weak

Oct 18, 2018 / Rapaport News

Drop in sentiment amid rupee depreciation and Surat bankruptcy rumors.Small-scale manufacturers under pressure as domestic demand for under-0.25 ct. goodsdeclines. Steady US interest in SI-I1 diamonds. Fewer foreign dealers in themarket than during last week's Bharat Diamond Bourse buying event. Jewelerscautious ahead of Diwali festival as weak rupee inflates gold prices. RoundRead More

Three Las Vegas Shows Partner for June Events

Oct 18, 2018 / Rapaport News

RAPAPORT... Three major Las Vegas trade shows have joined forces to holdtheir 2019 exhibitions at the same location to make attendance easier forbuyers. The American Gem Trade Association (AGTA) Gem Fair, the LasVegas Antique Jewelry and Watch Show, and Premier will all take place atthe Las Vegas Convention Center (LVCC) from May 30 to June 3, the organizers ofthe events said Wednesday. Visit...Read More

Christie's to Sell 24ct. Marilyn Monroe Diamond

Oct 18, 2018 / Rapaport News

RAPAPORT... Christie's is set to auction a 24-carat diamond necklace thatMarilyn Monroe wore for the premiere of her 1953 movie Gentlemen Prefer Blondes.The fancy-yellow, VS2-clarity Moon of Baroda - which originated from the famous Galcondamine that also produced the Hope Diamond - is estimated at $500,000 to$750,000. Christie's will also auction an autographed photo of the actressweari...Read More

Israel Trade Signs Alibaba Consumer Deal

Oct 18, 2018 / Rapaport News

RAPAPORT... The Israel Diamond Exchange (IDE) has expanded its collaborationwith Alibaba by introducing sales directly to Chinese consumers. Israeli diamonds will be available as loose stones on Ali Auction, the Asian e-commercegiant's luxury platform, the IDE said Wednesday. The bourse will launch theventure at the inaugural China International Import Expo in Shanghai in earlyNovember. The n...Read More

Israel Diamond Week At DDC Kicks Off Pre-Holiday Season

October 18, 18 / Albert Robinson

(IDEX Online) - This week the Diamond Dealers Club (DDC) welcomed the Israel Diamond Exchange and its members for the fall edition of Israel Diamond Week at the DDC.   As in the past, members of both bourses exhibited their goods on the DDC trading floor, now located at 50 West 47th Street.   Reports of the week have indicated an increase in business sales and opportunities due to the s...Read More

IDE Expands Partnership with Alibaba, Launching Venture at CIIE in Shanghai

October 18, 18 / Albert Robinson

(IDEX Online) - Israeli diamonds will now be offered for sale directly to Chinese consumers on Alibaba's luxury platform, Ali Auction (paimai.taobao.com).   The Israel Diamond Exchange (IDE), which has been working with Alibaba.com for the past year on B2B diamond sales, is expanding its activity in the Chinese market through this prestigious ecommerce site. IDE is the only diamond center to...Read More

Getting Africa fit for the future requires good governance - Africa Forum

18th October 2018 / Marleny Arnoldi     

Law firm Hogan Lovells Africa head and partner Andrew Skipper on Thursday opened the firm’s Africa Forum conference by stating that, in Africa, there is an understandable combination of optimism and scepticism, but stressed that the available opportunities were enormous.“Currency, corruption and certainty need to change; it is often not happening fast enough, but until that is sorted o...Read More

South African slump batters smaller neighbours protecting rand peg

18th October 2018 / Bloomberg     

South Africans aren’t the only ones struggling through the country’s economic slump.The fortunes of Lesotho, Namibia, and eSwatini, formerly known as Swaziland, are beholden to developments in their larger neighbour with their exchange rates pegged to the rand, the worst-performing major currency against the dollar this year. The three nations, together with Botswana, also derive reven...Read More

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