(IDEX Online) - De Beers' total revenue in the first half of 2018 of $3.2 billion was in line with the corresponding period last year ($3.1 billion), while rough diamond sales were maintained at $2.9 billion, said the miner's parent company Anglo American. The average realized rough diamond price increased by 4% to $162/carat (H1 2017: $156/carat) due to a 1.6% increase in the av...Read More
A 42.26-carat diamond recovered by Canadian junior Tango Mining (TSXV: TGV) fetched almost half a million dollars at the Kimberley Diamond Exchange, the company announced today.In detail, the gem was sold on tender for $11,267 per carat.The unnamed diamond was recovered from run of mine gravel at the company's Oena mine, an 8,800-hectare operation located on the lower Orange River, Northern Cape P...Read More
LSE-listed Gem Diamonds has recovered a 100.5 ct, top white colour Type IIa diamond from the Letšeng mine, in Lesotho. This recovery is the eleventh diamond of over 100 ct recovered this year.AdvertisementThe company owns 70% of the Letšeng mine, which is famous for producing large, top colour, exceptional white diamonds, making it the highest dollar per carat kimberlite diamon...Read More
JOHANNESBURG (miningweekly.com) – Anglo American has drawn a line in the sand for its thermal coal portfolio. With 14 more years of life in existing assets, the company made it clear this week that it would engage in incremental expansion where it made sense, but not in long-term growth projects.Anglo has halved its footprint in thermal coal over the last five years as part of what it calls...Read More
LONDON, July 26 (Reuters) - Anglo American unit De Beers expects its purchase of Canada's Peregrine Diamonds, its first upstream diamond acquisition since 2000, to be completed in a month to six weeks' time. Only then can it really start sizing up the asset.Peregrine is the sole owner of the Chidliak project on Baffin Island in northeastern Canada. While preliminary assessments of Chidliak's miner...Read More
Summer lull continues, with some improvement as USdealers return from vacation. Prices slightly softer due to seasonal slowdown. Suppliersoptimistic for 2H amid US and China jewelry growth, despite trade tensions. USjewelers improving efficiency with customization and omni-channel as 477 retailersclosed in 1H vs. 445 last year. Indian cutters cautious due to weak rupee and tightercredit, as banks...Read More
Fewer foreign buyers in Mumbai during summer period. Trade cautious amidtight liquidity and diminishing credit. Domestic demand weak due to higherrupee diamond prices after currency depreciation. Steady demand for 1 ct., G-J,SI-I2, RapSpec A3+ diamonds. High rough prices squeezing manufacturing profits,with factories operating below full capacity. RoundRead More
RAPAPORT... Much has been said about the journey a diamond takes frommine to market, particularly as the industry is increasing its provenanceclaims and tracking goods along the pipeline. While an estimated 80% to 90% ofdiamonds are cut and polished in India, they're typically not sent directlyfrom the mining centers to the factories.Rather, they stop in the trading centers along the way,with a la...Read More
RAPAPORT... Swiss-watch exports grew 12% in June amid an upturn indemand for higher-priced products. Global shipments of Swiss timepieces came to $1.95 billion(CHF 1.94 billion) for the month, the Federation of the Swiss Watch Industryreported last week. Exports of watches with a wholesale price above $3,024 (CHF3,000) saw the strongest growth, climbing 17%. Shipments of timepiecesvalued between...Read More
RAPAPORT... De Beers' underlying earnings fell in the first half due to higher costs, even as the company maintained an upbeat forecast for the rest of the year."The outlook for 2018 global consumer demand remains positive in most of the main diamond-consuming countries, based on world economic prospects, positive consumer sentiment, and continued investment in marketing," the miner said Thursday....Read More
(IDEX Online) - The Jewelers Vigilance Committee (JVC) said it is working on reviewing the revised Federal Trade Commission (FTC) Guides for the Jewelry, Precious Metals, and Pewter Industries Guides and will release educational materials for industry members on the Guides soon. JVC will also be hosting webinars on the Guides, the first of which will be held on August 8. The FTC re...Read More
DAR ES SALAAM – Tanzania plans to establish a minerals exchange by the end of this year, in a bid to ensure the East African nation reaps the most from its resources, Minerals Minister Angellah Kairuki said.The nation’s resources including gold, diamonds, iron, silver, copper, graphite and others.Advertisement“We will take into consideration the laws to ensure that this plan is s...Read More
(IDEX Online) - The Asia office of the Natural Color Diamond Association (NCDIA) has opened in the 59-storey Jewelry Trade Center (JTC) in downtown Bangkok providing a base in Asia for NCDIA members around the world, the organization said. The Bangkok office will be a place to stage seminars for interested consumers to educate them about natural colored diamonds. A goal of the NCDIA...Read More
JOHANNESBURG (miningweekly.com) – The comprehensive technology and innovation programme being intensively conducted by diversified mining major Anglo American is coming “out of the lab and into the field”, the company told Mining Weekly Online on Thursday, when it reported continued performance improvement in the six months to June 30.After announcing an 11% increase in underlyin...Read More
(IDEX Online) - After considerable consultation and deliberation, the US Federal Trade Commission (FTC) has published its revised Jewelry Guides which appear to give a boost to the lab-grown diamond sector. The guides widen the definition of what can be called a diamond to bring in those grown in a lab or factory as diamonds can also be grown in a lab, the FTC said, while emphasising that t...Read More
LONDON – Anglo American unit De Beers expects its purchase of Canada's Peregrine Diamonds, its first upstream diamond acquisition since 2000, to be completed in a month to six weeks' time. Only then can it really start sizing up the asset.Peregrine is the sole owner of the Chidliak project on Baffin Island in northeastern Canada. While preliminary assessments of Chidliak's minera...Read More
RAPAPORT... Polished-diamond shipments out of Israel declined 6% in thefirst half of the year, according to data the Ministry of Industry, Trade andLabor released this week. The drop isthe nation's fourth consecutive first-half decline in polished exports. Exportvolume slipped 5%, with the average price down 1%. The nation also received alower total value of rough during the half year than th...Read More
RAPAPORT... Lucapa Diamond Company garnered $2 million at its July saleof diamonds from the Lulo mine in Angola, it said Tuesday. The miner sold 2,527 carats of alluvial rough at the tender,fetching an average price of $800 per carat. The sale excluded four large, type IIa white stones weighing43 carats, 70 carats, 75 carats and 114 carats, as well as a 46-carat coloredstone. Lucapa will sell tho...Read More
RAPAPORT... The Federal Trade Commission (FTC) has expanded its definition of "diamond" to include those grown in a laboratory, as part of several changes to its jewelry guidelines. The FTC's previous definition of a diamond stated: "A diamond is anatural mineral consisting essentially of pure carbon crystallized in the isometricsystem." This is no longer applicable, the commission said Tuesday. T...Read More