MOSCOW – Two of Russia's biggest mining companies said on Wednesday they were investigating rouble-based payments schemes, amid calls from Moscow to reduce the role of the US dollar in Russian trade and so limit the impact of US sanctions.The Kremlin said on Monday that Russia favoured bilateral trade with all countries in their national currencies, rather than the dollar, but that the i...Read More
RAPAPORT... Gem Diamonds has recovered a 138-carat stone from its Let??engmine in Lesotho, bringing the company's total number of 100-carat-plusdiscoveries this year to a record 12. The type lla rough diamond has top-white color, the minersaid Wednesday. With this find, the company has surpassed the 11 exceptionally large diamonds it unearthed in 2015. Earlier this year, Gem Diamonds recovered th...Read More
RAPAPORT... Belgium saw an increase in rough and polished shipments inJuly, reflecting higher average prices, according to data the Antwerp WorldDiamond Centre (AWDC) released this week. Imports and exports of bothcategories for the first seven months of 2018 are also higher than they were inthe same period last year.Belgium Diamond Trade Data for July 2018 $ Millions unless stated otherwise Read More
RAPAPORT... The Gemological Institute of America (GIA) has identified a stonecomprising two halves of a diamond that had been stuck together with an "unknownadhesive." Graders noticed a large fracture and cavity on the table ofthe marquise-cut, 1.38-carat polished diamond submitted to the GIA's laboratory in Carlsbad, California, for colored-diamond testing. When thegemologists examined the crack...Read More
RAPAPORT... While it's true that value comes from rarity, no naturalresource lasts forever, and the rare is becoming even rarer. Diamond productionis set to peak in 2019, after which it will begin a steady decline. De Beersestimates global output will fall by 1% to 2% a year until 2030, while some analystspredict as much as a 5% annual drop.Regions that have heavily dominated the trade over the la...Read More
(IDEX Online) - Visitor traffic to the 35th edition of the India International Jewellery Show (IIJS) 2018 soared past the 40,000 mark for the first time in the history of the show, the GJEPC said, adding that "significant business" had been transacted. "Exhibitors and visitors alike have greatly appreciated the changes we introduced this year, according to feedback received by committee me...Read More
(IDEX Online) - The World Federation of Diamond Bourses (WFDB) has announced that registration has opened for the 2018 World Diamond Congress. The biannual meeting of the WFDB and the International Diamond Manufacturers Association (IDMA) will take place in Mumbai, India, from October 23 to 25. WFDB President Ernie Blom (pictured above) said: "I am delighted that a dedicated website has be...Read More
(IDEX Online) - Education and an emphasis on community-wide learning were the main elements of the Fall, 2018 Atlanta Jewelry Show, the organizers said. There was an upbeat atmosphere and reports of steady order-writing and growing retail attendance from outside the show's traditional region at the August 4-6 fair, according to a statement. "From the pre-show conference which began...Read More
RAPAPORT... Belgium saw a jump in rough and polished shipments inJuly, reflecting higher average prices, according to data the Antwerp WorldDiamond Centre (AWDC) released this week. Imports and exports of bothcategories for the first seven months of 2018 are also higher than they were inthe same period last year.Belgium Diamond Trade Data for July 2018 $ Millions unless stated otherwise Read More
(IDEX Online) - Stornoway Diamond Corporation reported a net loss of $35.9 million for the three months ended June 30. During the quarter, two tender sales totaling 201,283 carats were completed for gross proceeds of $28.6 million at an average price of US$109 per carat ($142 per carat). Revenue recognized was $56.9 million, derived from the sale of 328,899 carats of run of mine pro...Read More
Mining production increased by 2.8% year-on-year in June, from a 1.8% decline in May, with the largest positive contributor being platinum group metals (PGMs), which rose by 28.2% and contributed 5.9 percentage points, says Statistics South Africa (Stats SA).Other positive contributors were diamonds, which increased by 18.7% and contributed 0.9 of a percentage point, and iron-ore, which increased...Read More
Courtesy of: Visual Capitalist Canada is a mining nation.From the Rockies to the Canadian Shield, and from the Plains and to the North, the variety of geology that exists in the country is immense - and this has created a large and unique opportunity for ground-breaking mineral discoveries.As a result, Canada is one of the world's largest exporters of minerals and metals, supplying approximately...Read More
Sebastiao Pedro struck it lucky in 2014 when, as a 21-year-old small-scale miner, he found a large red ruby in northern Mozambique. He sold it to a buyer from Vietnam for $43,000, returned to his family 900 miles away and built a house with the proceeds.Then the money ran out.This year he went back to Montepuez, home to the world's biggest known ruby deposit, hoping to find another small fortune....Read More
RAPAPORT... Sales and profit increased at Kingold Jewelry in the secondquarter as the China-based gold supplier introduced new products to meetgrowing demand for the yellow metal. Total revenue climbed 43% year on year to $678.8 million inthe three months ending June 30, the manufacturer and designer of jewelry,ornaments and investment products said last week. Profit jumped 69% to $13.6million. "D...Read More
RAPAPORT... Jewelers of America (JA) has hired two consultants who willfocus on enhancing the US trade association's communications with members andconsumers. Elizabeth Brewer - who was previously in charge ofmarketing for deBoulle Jewelers, as well as the American Gem Trade Association -will work on improving the JA's membership engagement, it said last week. Mark Smelzer, the publisher of...Read More
RAPAPORT... Sarine Technologies saw a slight drop in revenue during the secondquarter after orders for its diamond-mapping units fell in India, the company said Sunday. Total sales fell 1.1% year on year to $18 million for the threemonths ending June 30. Revenue from India declined 5% to $12 million, even as 16 of the 20 Galaxy systems that Sarine sold during thequarter were in that market. North...Read More
RAPAPORT... A weaker rupee againstthe US dollar has helped boost exports to leading markets such as the US andChina, attendees at the India International Jewellery Show (IIJS) reported. "The jewelry anddiamond and colored-gemstone business is flourishing," Gaetano Cavalieri,president of the World Jewellery Confederation (CIBJO), said in an address at the inauguration of the IIJS Premiere, which o...Read More
(IDEX Online) - The Bharat Diamond Bourse (BDB) in Mumbai said preparations are progressing according to schedule for plans to open registration for the second edition of the Bharat Diamond Week at the bourse. The Bharat Diamond Week will take place from October 8-10, following the success of the first edition held from April 23-25 where in excess of 1,000 visitors from India and across th...Read More
(IDEX Online) - Sarine Technologies Ltd announced its financial results for the second quarter and half year ended 30 June. In Q2 2018, group revenue remained stable on a y-o-y basis at US$18.0 million. On a sequential quarterly basis, this translated to an increase of 8% over the sales of US$16.7 million in Q1 2018. This improvement was mainly due to substantially higher diamond manufactu...Read More
(IDEX Online) - The Israel Diamond Pavilion at the September Hong Kong Jewellery & Gem Fair, organized by the Israel Diamond Institute (IDI), will feature an auction of special stones offered by exhibitors. The IDI said it will present several free trips to Israel for buyers at the auction timed to coincide with the International Diamond Week in Israel at the end of January 2019. ...Read More