Brazil's geological service is studying auctioning off mining rights in 2019 to six previously unexplored areas that have significant potential output of copper, gold, phosphate and other minerals, the head of the organization told Reuters on Monday.The geological service CPRM, which operates as a state company and carries out functions similar to the United States Geological Survey, has amassed t...Read More
30 July 2018 - ALROSA, the world's leader in diamond mining, reports raising of its long-term credit rating by S&P Global Ratings international rating agency to BB?'-, the outlook is stable.The agency notes positive trends in the diamond market, ALROSA's strong profitability, solid global market share, improved financial stability, and strongly positive free operating cash flow (FOCF) generation...Read More
Shares in Caterpillar (NYSE:CAT), the world's no.1 heavy machinery maker, retreated 2% despite posting record second quarter earnings per share Monday, while also bumping up its full-year profit forecast.The Deerfield, Illinois-based company reported an adjusted profit of $2.97 a share in the three months to June 30, compared with $1.49 a share last year. For the whole year, Caterpillar now expe...Read More
RAPAPORT... Lucapa Diamond Company has recovered an 11.88-carat stone duringbulk sampling at the North zone of its Mothae mine, the third new section toproduce large stones. The miner has been testing the unexplored areas of Mothaesince it purchased the Lesotho asset last year. The company found an 89-caratdiamond in the Southeast-zone sampling and a 25-carat yellow from the Neckregion. The larg...Read More
RAPAPORT... Tango Mining has sold a 42.26-carat diamond from its Oena projectin South Africa for $11,267 per carat, it said. The company - which recovered the stone earlier this month- sold it for $476,143 at a tender at the Kimberley Diamond Exchange. The miner also sold 125.87 carats of rough diamonds attender at an average price of $945 per carat. The sale included a 10.48-carat stone,fetching...Read More
RAPAPORT... Swatch Group has quit Baselworld, arguing the watch andjewelry show is no longer relevant and its organizers are not interested inchanging it for the better. The Swiss group, whose 18 brands include Omega, Tissot andHarry Winston, is a mainstay of the annual fair. However, it will not attendfrom next year as the event has failed to keep up with the changing industry,it said in a statem...Read More
(IDEX Online) - India's Gem & Jewellery Export Promotion Council (GJEPC) has said that the 10% decline in bank finance to the gem and jewelry sector over the last few months will adversely impact exports from the industry this year. The annual decline in total exports could be as much as 10%, the Council said, adding that exports in the April-June 2018 quarter stood at US$10.1 bil...Read More
(IDEX Online) - Giant Swiss watchmaker Swatch Group will no longer exhibit at the annual Baselworld watch and jewelry trade fair. "The Swatch Group has decided not to be present at Baselworld from 2019," the NZZ am Sonntag newspaper quoted Swatch chief executive Nick Hayek as saying. Traditional annual fairs had lost their relevance in a more transparent and fast-paced world, he commented....Read More
PERTH (miningweekly.com) – Diamond miner Lucapa has recovered another special diamond from ongoing bulk sampling at its Mothae mine, in Lesotho.The 11.88 ct diamond was recovered from the North zone, and is the first special diamond recovered from that section of the Mothae kimberlite pipe in the current bulk sample.AdvertisementAn 89 ct diamond was recovered from the South-East zone earlier...Read More
RAPAPORT... The Natural Color Diamond Association (NCDIA) has opened anew office at the Jewelry Trade Center in Bangkok, bringing it closer to other industry organizations. The location also houses the Bangkok Diamonds and PreciousStones Exchange (BDPE), as well as the Asian Institute of Gemological Sciences(AIGS) laboratory. "NCDIA and the BDPE's board of directors are in alignmentand will speak...Read More
RAPAPORT... Gem Diamonds has unearthed a 100.50-carat diamond from its Let??engmine in Lesotho, it said Friday. The white, type IIa stone is the 11th over 100 carats theminer has recovered from the asset so far this year. Gem Diamonds owns 70% of the Let??eng mine, with the stateholding the remaining shares. The company also owns the Ghaghoo mine inBotswana, which it plans to sell.Read More
RAPAPORT... Kering, which owns high-fashion houses such as Gucci andYves Saint Laurent, reported solid growth in its jewelry and watch divisions inthe first half of 2018, driven by increased sales in Asia Pacific and NorthAmerica. "Accessories, jewelry, and, to a certain extent,ready-to-wear, fared well, and business levels for watches continued to steadilyimprove within a market that is still con...Read More
(IDEX Online) - Industry executives convened in late June for the GIA's Global Leadership Program at Harvard Business School (HBS). The annual program in Cambridge, Massachusetts offers a unique opportunity for gem and jewelry executives to explore innovative solutions to industry challenges using the renowned HBS case study method, the GIA said. The 42 industry leaders - all CEOs...Read More
RAPAPORT... The World Federation of Diamond Bourses (WFDB) intends to persuade the Federal Trade Commission (FTC) to change its decision regardingthe description of a diamond. In its new jewelry guidelines, the FTC stated the term"diamond" does not necessary apply only to natural stones that are "of theearth." Thus, lab-grown stones can also be referred to by the term "diamond." "We hope that the...Read More
RAPAPORT... The United States Federal Trade Commission (FTC) has issuednew Guides for the Jewelry Industry. While these guidelines create confusion byexpanding the definition of the word 'diamond' to include synthetic diamondsthey continue to restrict the use of the word "diamond' to natural diamondsunless the word is immediately preceded by a word or phrase that clearlydiscloses the product is no...Read More
(IDEX Online) - The Diamond Dealers Club of New York said it is working closely with other industry organizations to address the changes going forward in the Federal Trade Commission's (FTC) revised Jewelry Guide, which governs, among other things, the marketing and description of diamonds, jewelry, and colored stones. "However, in the short term, to avoid possible confusion, the Diam...Read More
(IDEX Online) - Gem Diamonds Limited has announced the recovery of a 100.5 carat, top white color Type IIa diamond from the Let??eng mine in Lesotho, the highest dollar per carat kimberlite diamond mine in the world. The recovery is the eleventh diamond of over 100 carats that the miner has found so far this year. Read More
RAPAPORT... The World Federation of Diamond Bourses (WFDB) intends to persuade the Federal Trade Commission (FTC) to change its decision regardingthe description of a diamond. In its new jewelry guidelines, the FTC stated the term"diamond" does not necessary apply only to natural stones that are "of theearth." Thus, lab-grown stones can also be referred to by the term "diamond." "We hope that the...Read More
RAPAPORT... Gem Diamonds has unearthed a 100.50-carat diamond from its Let??engmine in Lesotho, it said Friday. The white, type IIa stone is the 11th over 100 carats theminer has recovered from the asset so far this year. Gem Diamonds owns 70% of the Let??eng mine, with the stateholding the remaining shares. The company also owns the Ghaghoo mine inBotswana, which it plans to sell.Read More
(IDEX Online) - The World Federation of Diamond Bourses (WFDB) has responded to the revised U.S. Federal Trade Commission's (FTC) guidelines released this week as they relate to the issue of descriptors for diamonds. The new guidelines are not in line with the Diamond Terminology Guidelines as agreed last year and implemented by the WFDB, the International Diamond Council, the Interna...Read More