RAPAPORT... Alrosa's sales fell in the second quarter as the closure of theMir underground mine resulted in a lower supply of rough diamonds. Revenue from rough stones declined 7% to $1.06 billion forthe three months ending June 30, the Russian miner said Monday. By volume,sales fell 12% to 9 million carats as the average price of gem-quality diamondsgrew 18% to $164 per carat, reflecting a shift...Read More
RAPAPORT... Shares in Petra Diamonds slipped on Monday after the miner loweredits production forecast for fiscal 2019. The company expects to produce between 4.6 million and 4.8million carats in the fiscal year ending June 2019, it said. Excluding its interest in the Kimberley mine - which it sold earlier this month for $22million - the miner will produce 3.8 million to 4 million carats in 2019, a...Read More
RAPAPORT... US polished-diamond imports increased 7% year on year in May, a peak month for the trade due to preparations for the annual Las Vegas shows in early June. Shipments were still lower than the same month in 2013, 2014 and 2016, and slightly higher than May 2015, according to government data (see graph below). $ Millions unless stated otherwiseRead More
RAPAPORT... Swatch Group, the owner of luxury jewelry brand HarryWinston, saw an increase in sales across all sectors in the first half amidstrong consumer demand, it said. Group revenue climbed 15% to $4.3 billion (CHF 4.27billion), with operating profit up 70% to $634.6 million (CHF 629 million). Netprofit jumped 67% year on year to $472.2 million (CHF 468 million). Sales of watches and jewelry...Read More
(IDEX Online) - ALROSA reported that diamond production jumped on the quarter, but was down on the year. Its Q2 2018 production performance and preliminary trading update is as follows. Key highlights in Q2 2018: ?EUR? Diamond production grew 15% q-o-q (down 18% y-o-y) to 8.5 m carats, due to seasonal return to production at...Read More
(IDEX Online) - Sarine Technologies Ltd has opened a new Galaxy (R) service centre for the scanning and mapping of internal inclusions in rough diamonds in the Sha Wan Jewellery Park, in the Panyu District of Guangzhou, servicing the rough diamond trade and diamond manufacturers there and in China, in general. The new Guangzhou service centre is the ninth one, following those opened betwee...Read More
JOHANNESBURG – Diamond producer De Beers said on Monday it was relocating 200 elephants from its private reserve in South Africa to neighbouring Mozambique, part of wider efforts to restore wildlife populations ravaged by conflict there.The Anglo American unit said its 32 000 ha Venetia Limpopo Nature Reserve could support around 60 elephants but now had 270, causing "extensive damage t...Read More
Aim-listed diamond miner Firestone Diamonds achieved an ‘exceptional’ operational performance at its 75%-owned Liqhobong mine, in Lesotho, during the fourth quarter ended June 30.Recoveries for the quarter increased by 36.8% to 263 512 ct, resulting in the production of 835 832 ct for the full financial year, in line with guidance of between 800 000 ct and 850 000 ct.AdvertisementFires...Read More
LSE-listed Petra Diamonds CE Johan Dippenaar on Monday said the company had achieved a solid progression for the full financial year ended June 30, after challenges in the 2017 financial year and in the first half of the 2018 financial year.Production rose by 15% year-on-year to 4.6-million carats, compared with four-million-carats in the prior financial year, as underground expansion programmes c...Read More
TSX-listed Tango Mining has recovered a 42.25 ct diamond from run-of-mine gravel at its Oena diamond mine, in South Africa’s Northern Cape.The diamond was recovered from the Oena central area and highlighted the production history of Oena, which is known to produce large, high-quality diamonds.AdvertisementThe diamond will be on sale at the Kimberley Diamond Exchange starting August 20.To wa...Read More
RAPAPORT... Pandora has lowered retail prices for most of the jewelry it offers in the Chinese market in an effort to combat revenue lossfrom illegitimate sales. The jeweler has reduced the cost of products byapproximately 15% across all its platforms in the region, including eSTOREand its listings on Alibaba Group's Tmall-ecommerce site, it said last week. By lowering prices, Pandorahopes to limi...Read More
RAPAPORT... Alrosa's sales dropped in the second quarter as the closure of theMir underground mine resulted in a lower supply of rough diamonds. Revenue from rough stones declined 7% to $1.06 billion forthe three months ending June 30, the Russian miner said Monday. By volume,sales fell 12% to 9 million carats as the average price of gem-quality diamondsgrew 18% to $164 per carat, reflecting a shi...Read More
(IDEX Online) - Petra Diamonds Limited said its production rose 15% in 2018, while revenue soared 21%. Full details include the following: FY 2018 Highlights Production up 15% to 4.6 Mcts (FY 2017: 4.0 Mcts), in line with guidance of 4.6 to 4.7 Mcts. Revenue up 21% to US$576.4 million (FY 2017: US$477.0 million). Adjusted for the sale of KEM JV: revenue up 25% to US$...Read More
Russian diamond mining major Alrosa has reported an 18% year-on-year production decrease in the second quarter, as the closure of the Mir underground mine in August last year and lower diamond grades continued to weigh on its operations.The miner produced 8.5-million carats in the second quarter, compared with 10.4-million carats in the same quarter of 2017. Compared with the first quarter of 2018...Read More
RAPAPORT... Alrosa's sales dropped in the second quarter as the closure of theMir underground mine resulted in a lower supply of rough diamonds. Revenue from rough stones declined 7% to $1.06 billion forthe three months ending June 30, the Russian miner said Monday. By volume,sales fell 12% to 9 million carats as the average price of gem-quality diamondsgrew 18% to $164 per carat, reflecting a shi...Read More
Russian giant Alrosa (MCX:ALRS) confirmed that diamond mining at its Zarya deposit will start in 2019. In a press release, Alrosa explained that after removing 10 million cubic meters of overburden for over two years, the development of the new deposit is going as planned and is entering the final stages. The depth of the open pit mine now reaches 100 metres. Once completed, the mine is expected t...Read More
RAPAPORT... Production at the Gahcho Ku?(C) mine increased 20% year on year to1.9 million carats in the second quarter, as the asset yielded higher-graderecovery. "The second-quarter performance continues to follow thetrend of ongoing excellent performance set by the Gahcho Ku?(C) mine team, in asafe and sustainable manner," Stuart Brown, CEO of Mountain Province, whichowns the mine in a joint ven...Read More
RAPAPORT... The Asian Institute of Gemological Sciences (AIGS) hasissued a warning to the international diamond industry over fake gemstonereports bearing its logo.The counterfeit reports contain a working QR code thatdirects users to a fake website with the suffix co, rather than com."Some unscrupulous people have decided to rip off customersby using AIGS's name," AIGS chairman Kennedyy Ho said l...Read More
RAPAPORT... Zimbabwe's state diamond producer recorded a 44% increase inoutput in the first half of 2018 following investments in mining and processingcapacity. The Zimbabwe Consolidated Diamond Company (ZCDC) recovered1.6 million carats in the six months ending June 30, compared with 1.1 millioncarats a year ago, a spokesperson for the miner told Rapaport News lastweek. The company produced...Read More
RAPAPORT... Luk Fook's same-store sales increased 22% year on year inthe first fiscal quarter, driven by a 26% rise in Hong Kong and Macau. Same-store gold sales - at Luk Fook outlets open formore than a year - in Hong Kong and Macau jumped 34% in the three monthsending June 30, while gem-set jewelry purchases climbed 19%. The jeweler released figures for sales atshops it operates itself, but excl...Read More