RAPAPORT... Mountain Province's sales increasedat its August tender, as larger stones and higher-than-expected productionboosted results. The miner sold 411,317 carats of diamonds from its Gahcho Ku?(C) mine for $26.9 million, at anaverage price of $65 per carat. "Consistent with the wider rough-diamondmarket, prices saw single-digit decreases overall," said Reid Mackie, theminer's vice president...Read More
Anglo America’s De Beers has completed the C$107-million acquisition of Peregrine Diamonds, with the TSX-listed company set to be delisted at the end of trading on Friday.The acquisition, announced in July, was approved by Peregrine securityholders on August 31 and by the Supreme Court of British Columbia on September 10.AdvertisementThe acquisition includes the high-quality Chidliak diamond...Read More
(IDEX Online) - De Beers Group said it has completed the acquisition of Peregrine Diamonds Ltd for C$107 million in cash. The acquisition includes the high quality Chidliak diamond resource located in Canada's Nunavut Territory and other properties in Nunavut and the Northwest Territories. The transaction, which was announced on 19 July, was approved by Peregrine's securityholders on...Read More
RAPAPORT... Chinese corporate giant Fosun has agreed to buy an 80%stake in the International Gemological Institute (IGI), the grading laboratorysaid Wednesday. "The interest of this large conglomerate to invest in IGIshows the confidence it has in our industry," said Roland Lorie, IGI's CEO. "Asdemand for certification increases, the investment...will significantlyaccelerate our core business, off...Read More
(IDEX Online) - The Israel Diamond Exchange (IDE) has appointed Eran Zini as its new Managing Director. Zini has a rich background in management positions in business and government. After having served as senior advisor to Israel's Minister of Justice, he joined Israeli pioneering electric car start-up Better Place, as head of government relations and regulation. He then joined a g...Read More
Diamond miner Alrosa has netted $15.6-million from the sale of special large diamonds at an international auction in Israel.A total of 2 611 ct of diamonds, all weighing more than 10.8 ct, were sold in 166 lots.AdvertisementFirms from Russia, Israel, Belgium, India, Hong Kong, UAE and the US participated in the auction.“The auction ended with good results – the starting price was...Read More
(IDEX Online) - Sarine Technologies Ltd will showcase its Diamond Journey?,,?, the world's first and only third-party full diamond journey solution, during the September Hong Kong Jewellery & Gem Fair. "Sarine's Diamond Journey platform is the only solution that provides tracking of the diamond's transformation from rough to polished using technology and data science (vs. other means li...Read More
(IDEX Online) - Jewelers of America (JA), the national trade association for businesses serving the fine jewelry marketplace, and the GEM Awards Committee have announced that Stewart Wicht, President & CEO of Rolex Watch U.S.A. Inc., will receive the GEM Award for Lifetime Achievement. The GEM Awards gala honors the outstanding achievements of individuals or companies whose work raises...Read More
The worldwide demand for diamond jewellery set a new record high of $82-billion in 2017, diamond giant De Beers reported in its 'Diamond Insight Report 2018'. The driving forces behind this demand were Millennial and Generation Z (Gen Z) consumers, who, together, accounted for 66% of global diamond sales last year.Millennials means people who are currently in the age range from 21 to 39, w...Read More
(IDEX Online) - Rio Tinto's Argyle Pink Diamonds Tender is being showcased to connoisseurs and collectors from across Asia in Hong Kong. Headlining the 2018 collection of 63 pink, red and violet diamonds is the Argyle Muse (pictured above), a 2.28 carat polished oval diamond, the largest purplish red diamond ever offered at Tender. "With an unrivalled potency of color, the Argyle Muse will...Read More
Since their discovery in early 2009, the ruby deposits near Montepuez in Mozambique have produced an impressive number of exceptional-quality stones, including iconic gems such as the Rhino Ruby (22.04 cts), the Scarlet Drop (15.95 cts) and the Eyes of the Dragon (a pair of rubies pair weighing 11.23 cts and 10.70 cts), all of which were analysed by the Swiss Gemmological Institute SSEF. But from...Read More
RAPAPORT... Baselworldis proposing to lower prices for exhibitors and visitors in an attempt toreinvigorate the annual watch and jewelry show. "Expensescrossed the pain threshold for many people in past years," Baselworld CEOMichel Loris-Melikoff said in a statement last week. "With regard to standrentals, we have already modified the fees in past years, and we'll continue tomodify them selectivel...Read More
RAPAPORT... De Beers' sales slipped to $505 million at its seventhcycle this year as the miner allowed sightholders to refuse allocations of cheaperrough diamonds. The proceeds - which include last week's sight - weremarginally lower than the $507 million it reported for the equivalent period ayear ago, De Beers said Tuesday. Sales dropped 5% from $533 million in thesixth sales cycle in July. Whil...Read More
RAPAPORT... Alrosa's sales climbed 14% to $294.9 million in August dueto strong demand for higher-value rough diamonds, the miner reported. "Despite [the] traditional August market slowdown, sales of bothrough and polished diamonds were much higher than a year before," Yury Okoemov,Alrosa's deputy CEO for sales, said Monday. "Positive trends in diamond-jewelrysales observed since the beginning of...Read More
RAPAPORT... Jewelry sales at Richemont - the owner of Cartier and VanCleef & Arpels - increased 11% in the five months ending August 31, theluxury retailer reported Monday. Proceeds from the group's largest category rose to $3.33billion (EUR 2.88 billion) during the period, while sales in the watch divisiongrew 2% to $1.5 billion (EUR 1.3 billion). Jewelry sales climbed 14% atconstant exchange...Read More
RAPAPORT... Chief marketing officer Deborah Marquardt has left theDiamond Producers Association (DPA), the organization said. The move was for personal reasons, and will enable Marquardt (pictured) - who joined the association in 2016 - to pursue other opportunities, DPA CEOJean-Marc Lieberherr told Rapaport News. Sarah Gorvitz, the DPA's senior vice president of strategiccommunication...Read More
(IDEX Online) - The International Institute of Diamond Grading and Research (IIDGR), part of the De Beers Group, will partner with the National Gemstone Testing Centre (NGTC), China's leading authority in the testing and inspection of gems and jewelry, to extend the accessibility of IIDGR's diamond education courses to students in China. The partnership will officially launch in early 2019...Read More
(IDEX Online) - ALROSA, the world's largest diamond producer, sold $283.2 million of rough diamonds last month, and $3.26 billion in the first eight months of 2018. In August, ALROSA's rough and polished diamonds sales were $294.9 million, up 14% on the year, with polished diamond sales of $11.7 million. ALROSA's total diamond sales in January-August 2018 rose 9% on the year to...Read More
(IDEX Online) - The Diamond Empowerment Fund (D.E.F) has partnered with the Mandela Institute for Development Studies (MINDS) to establish the first in a series of Diamond Empowerment Fund Scholarships. "The Mandela Institute for Development Studies' unique approach develops Pan-African leaders who have a lived understanding and experience on the continent and who, in turn, can facilitate e...Read More
(IDEX Online) - De Beers sold rough diamonds with a provisional value of $505 million in the seventh sales cycle (Global Sightholder Sales and Auction Sales) of 2018. The miner reported confirmed sales of $533 million in the fifth cycle. The miner confirmed media reports that it allowed its clients to delay the purchase of smaller items. Bruce Cleaver, CEO, De Beers Group, sai...Read More