(IDEX Online) - The US Justice Department is suing Moshe Lax, a friend and former business partner of Ivanka Trump, for allegedly taking part in schemes to defraud the US government out of millions of dollars in tax liabilities on his father's estate. The suit against the New York businessman seeks more than $60 million in unpaid tax liabilities. It alleges that Lax, his sister Zlaty Schwar...Read More
(IDEX Online) - The next International Diamond Week in Israel (IDWI) will take place on January 28-30. "IDWI, organized by the Israel Diamond Exchange, has become a prime buying venue for diamond dealers from around the world and one they don't want to miss," said the IDE. "In contrast to the large, expensive trade shows, IDWI is a boutique show, exclusively for diamond buyers, offering a l...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
Aim-listed Vast Resources has concluded an agreement with Red Mercury for exclusive access to a diamond concession area in what has become known as the Marange diamond fields in the Chiadzwa region of Zimbabwe. Under the terms of the agreement, Vast will have the right to carry out initial due diligence on the area with a view to concluding a joint venture agreement, the principal terms of wh...Read More
RAPAPORT... Rio Tinto has begun mining the A21 pipe, an extension at itsDiavik asset that should allow the company to sustain production levels overthe next four years. The project took four years to construct at a cost of $350 million.A21 is the fourth pit at Diavik, which is located in Canada's NorthwestTerritories. The company began processing ore from the pipe in March, andexpects to reach ful...Read More
RAPAPORT... Sales at Okavango Diamond Company (ODC) dropped 16% to $260 millionin the first half of 2018 due to a limited supply of rough, Reuters reported. Sales volume declined 1.7% to 1.8 million carats, theBotswana-based trading company added in a statement to Rapaport NewsMonday. The state-owned company has access to 15% of the production fromDebswana, the government's joint venture with De B...Read More
RAPAPORT... Sarine Technologies will provide digital services for LucaraDiamond Corp.'s new rough-sales platform, allowing customers to obtain diamondswith the exact specifications they require. Under the agreement, rough stones will undergo Sarine'sGalaxy inclusion mapping, creating a digital fingerprint containing informationon the diamond's attributes, including its size, color and quality. Luc...Read More
(IDEX Online) - The International Gemological Institute (IGI) has opened a new School of Gemology, which will operate out of Laxmi Tower, a wing at the Bandra Kurla Complex in Mumbai. The opening ceremony was attended by the Honorary Consul General of Belgium in Mumbai, Peter Huyghebaert, who was the chief guest at the event, along with Colin Shah, Vice Chairman, GJEPC; Mehul Shah, VP, Bha...Read More
(IDEX Online) - Sarine Technologies Ltd has entered into an agreement with Clara Diamond Solutions Corporation, a subsidiary of Lucara Diamond Corp., a Vancouver-based diamond mining producer, which aims to change the way certain rough diamonds are sold. "The rough diamond industry handles some $14 billion worth of stones annually. An estimated 90 percent of diamonds are sold in 'boxes...Read More
(IDEX Online) - Rio Tinto has opened a fourth diamond pipe, known as A21, at the remote subarctic Diavik Diamond Mine in the Northwest Territories of Canada. The new open pit pipe will provide an important source of incremental supply over the next four years to sustain production levels at the Rio Tinto operated mine, the company said. The A21 pipe is located adjacent to Diavik's ex...Read More
PERTH (miningweekly.com) – Diversified miner Rio Tinto has opened the fourth diamond pipe at its Diavik diamond mine, in Canada’s Northwest Territories.The A21 openpit pipe will provide an important source of incremental supply over the next four years to sustain production levels at the mine, Rio said on Tuesday.AdvertisementThe A21 pipe is located adjacent to Diavik’s existing...Read More
RAPAPORT... Rio Tinto has begun mining the A21 pipe, an extension at itsDiavik asset that should allow the company to sustain production levels overthe next four years. The project took four years to construct at a cost of $350 million.A21 is the fourth pit at Diavik, which is located in Canada's NorthwestTerritories. The company began processing ore from the pipe in March, andexpects to reach ful...Read More
RAPAPORT... Sales at Okavango Diamond Company (ODC) dropped 16% to $260 millionin the first half of 2018 due to a limited supply of rough, Reuters reported. Sales volume declined 1.7% to 1.8 million carats, theBotswana-based trading company added in a statement to Rapaport NewsMonday. The state-owned company has access to 15% of the production fromDebswana, the government's joint venture with De B...Read More
RAPAPORT... Sarine Technologies will provide digital services for LucaraDiamond Corp.'s new rough-sales platform, allowing customers to obtain diamondswith the exact specifications they require. Under the agreement, rough stones will undergo Sarine'sGalaxy inclusion mapping, creating a digital fingerprint containing informationon the diamond's attributes, including its size, color and quality. Luc...Read More
Rio Tinto (LON, ASX, NYSE:RIO) opened today a fourth diamond pipe at the subarctic Diavik Diamond Mine, located in the Northwest Territories of Canada, 220 kilometres south of the Arctic Circle.In a press release, the Anglo-Australian miner said that the new open-pit pipe will provide an important source of "incremental supply over the next four years to sustain production levels at the Rio Tinto...Read More
Canada's Lucara Diamond (TSX:LUC), the company that hit the jackpot in 2015 after finding the world's second-largest diamond, is stepping up efforts to track gems in the supply chain and advance personalized sales by inking a deal with industry technology developer Sarine Technologies.Through its subsidiary Clara Diamond Solutions, acquired in February, the Vancouver-based miner will include Sa...Read More
RAPAPORT... Fraudsters created an imitation emerald by assembling fivepieces of glass around a beryl core using a "laborious multi-step cut-and-glueprocess," according to the Gemological Institute of America (GIA). The inside of the 3.35-carat stone - which the New Yorkbranch received for grading - was a natural beryl, a mineral ofwhich emerald is a variety. However, the crown consisted of a singl...Read More
RAPAPORT... The US Department of Justice (DOJ) is suing diamond andjewelry heir Moshe Lax, Ivanka Trump's friend and former business partner, fortax fraud.Lax (pictured) and several of his family members sought to hide earnings from his latefather's trust in a series of "sham transactions" and "fraudulent transfers"designed to evade tax liability, the suit alleges.Members of the Lax family ow...Read More