(IDEX Online) - The Colombian Ministry of Mines and Energy, in association with the Colombian Geological Service and the National University, has budgeted US$30 million for a five-year 'Mineral Digital Fingerprint' project that started earlier this year. The project is based on a technique developed in Australia and applied in South Africa as a control mechanism for the commercia...Read More
(IDEX Online) - The second of the CIBJO commissions' Special Reports has been released ahead of the 2018 CIBJO Congress in Bogot??, Colombia, in mid-October. Prepared by the CIBJO Precious Metals Commission, headed by Huw Daniel, the report examines the influence on the sector by outside forces, be they political, regulatory or the result of decisions by the International Standards Or...Read More
RAPAPORT... Digital online marketplace TrueFacet has partnered withseven luxury brands to offer secondhand jewelry and watches directly toconsumers. The site lists pieces from Zenith, Roberto Coin, RaymondWeil, Fendi Timepieces, Faberge, Frederique Constant and Ernst Benz, which havebeen previously owned and subsequently inspected and refurbished by the brands. Those companies supply a certificate...Read More
We spoke to Mike Breecher, a seasoned underground miner in Canada to find out what it is really all about.Tell us a bit about yourself and how you came to be an underground miner?I was living in New Brunswick working as an over the road long haul truck driver. After seven years of that I started to notice some of my friends moving to Fort McMurray. I asked why? Jobs, oil, money they said!I was sta...Read More
MOSCOW, Aug 24 (Reuters) - Kremlin aide Andrei Belousov said on Friday he would like major Russian firms to invest in social projects rather than pay higher taxes, weeks after he proposed raising 500 billion roubles ($7.5 billion) a year from metal and mining firms. Firms should invest in infrastructure, environmental issues, the cyber economy, and the creation of technologies.President Vladimir...Read More
The crushing circuit at BlueRock Diamonds’ Kareevlei mine, in the Northern Cape, is now processing at its targeted production level of around 80 t/h following the installation of a second cone crusher and the implementation of optimisation initiatives.In June, BlueRock discovered a fault in the circuit’s cone crusher, which led to processing being stopped for around ten days. While the...Read More
MOSCOW – Alrosa, the world's largest producer of rough diamonds in carat terms, said on Friday its second-quarter net profit rose about 1 percent year on year as higher prices helped offset a sales drop.State-controlled Alrosa and Anglo American's De Beers produce about half of the world's rough diamonds. In 2017, Alrosa was hit by a shutdown at its Siberian underground Mir mine,...Read More
Shares in Botswana Diamonds (LON:BOD) climbed almost 16% on Thursday after it revealed that Vast Resource (LON:VAST), with which it has signed a memorandum of understanding to develop diamond resources in Zimbabwe, had been awarded exclusive access to a diamond concession in the African nation's Marange Fields area.Vast Resource is expected to carry out an initial assessment of the asset with a...Read More
Polished trading quiet,with inventory rising after slow summer. Suppliers keeping prices firm, hopingfor strong Hong Kong show. Chinese buyers shifting to lower qualities, withsteady demand for 3VG goods, as weaker yuan currency squeezes budgets. USdemand steady, but consumer sentiment down, reflected in households purchasing fewerbig-ticket items, according to University of Michigan. Macy's and J...Read More
Mood slightly down amidrumors of further bankruptcies. A number of Antwerp-based expat Indians inMumbai looking for SI goods and lower. Stable demand for 0.30 to 0.50 ct., G-J,VS-SI diamonds. Stars and melee slow, with dealers avoiding further inventoryin these categories. Manufacturers restrained and not raising polishedproduction before Diwali break. RoundRead More
RAPAPORT... Royal Asscher has opened a new flagship boutique in Japan,its second standalone location in the country. The store, which is in Fukuoka's popular downtown shoppingdistrict, Fukuoka Tenjin, will carry its limited-edition European Architecturecollection, diamond jewelry and bridal pieces. The jeweler opened its firstretail outlet in the country in Tokyo last year. "Fukuoka is a short fl...Read More
RAPAPORT... De Beers is strengthening its position in the diamond market without obsessing about production, after having made some bold moves in recent years. It has now emerged as a vertically-integrated diamond company. It appears management has long recognized that mining natural rough diamonds will not stimulate the growth it - or parent company Anglo American - desires. A quick look at its e...Read More
(IDEX Online) - Buyer registration has opened for the seventh Israel Diamond Week in New York, to be held October 15-17. The annual event, jointly organized by the Israel Diamond Exchange (IDE) and the Diamond Dealers Club of New York (DDC), is inviting bourse members, jewelers and other buyers from the New York metropolitan area and around the United States to take part in the diamond tra...Read More
(IDEX Online) - India's exports of cut and polished diamonds increased by 11.7% on the year in July to $1.84 billion. For the April-July period, India's exports of cut and polished diamonds increased by 9.5% on the year to $8.13 billion, according to figures from the GJEPC. Meanwhile, exports of rough diamonds in July rose by 9.9% to $99.9 million. Exports of rough d...Read More
Botswana Diamonds chairperson John Teeling on Thursday said the company was looking forward to working with fellow Aim-listed company Vast Resources on realising the full potential of the Heritage diamond concession area and other areas in Zimbabwe.This followed Wednesday’s announcement by Vast that it had entered into an agreement with Red Mercury, giving Vast exclusive access to the 15 km2...Read More
RAPAPORT... De Beers is strengthening its position in the diamond market without obsessing about production, after having made some bold moves in recent years. It has now emerged as a vertically-integrated diamond company. It appears management has long recognized that mining natural rough diamonds will not stimulate the growth it - or parent company Anglo American - desires. A quick look at its e...Read More
RAPAPORT... India's polished-diamond exports were boosted by a significant rise in the average price of goods leaving the country, data published by the Gem & Jewellery Export Promotion Council showed. At $812 per carat, the average price achieved in July was a record high for the country, according to Rapaport records. Rough imports also showed strong improvements over last year. India Dia...Read More
RAPAPORT... American consumers are turning to US-manufactured jewelry asmore women in the country create their own products, the CEO of luxuryconsultancy MVI Marketing told Rapaport News. While it is too early to say what impact the US-China tradewar could have, demand for US-made goods is increasing among female self-purchasers,Marty Hurwitz said Tuesday. That is especially the case in the nation...Read More
RAPAPORT... Creating and launching a proprietary cut is difficult for almost anydiamantaire. The costs can be prohibitively high, even for larger companies. Inaddition, the weak prices of non-round goods mean there's no guarantee theventure will boost profits.Take the example of Pieter Bombeke (pictured), one of Antwerp'sbest-known cutters and a specialist in making innovative, non-generic shapes....Read More
RAPAPORT... Asian demand drove a 7% increase in Swiss watch exports in July,according to data the nation's timepiece association released Tuesday. Total shipments rose to $1.84 billion (CHF 1.82 billion),the Federation of the Swiss Watch Industry reported. Orders from Hong Kong, theSwiss trade's largest market, jumped 27% to $263.8 million (CHF 259.8 million),while supply to Japan grew 17% to $119...Read More