RAPAPORT... Platinum jewelry demand grew in India and the US in thefirst quarter due to tax reforms and positive economic conditions, PlatinumGuild International (PGI) reported. US purchases at PGI's retail partners grew 12% for theperiod amid low unemployment and increased consumer confidence, combinedwith a drop in platinum prices, the trade organization said.. Sales in India rose 25% year on ye...Read More
RAPAPORT STATEMENT, June 19, 2018 ... The De Beers Group is refusing to allow its clients to disclose the legitimacy of diamonds from De Beers. All De Beers' rough diamonds are now opaque. That's 42% of the world's legitimate diamond production in 2017, and $14.993 billion of rough diamonds from 2015 through 2017.In a letter to clients, De Beers states: "In relation to programmes such as GIA's 'Mi...Read More
RAPAPORT... A new industry networking event, JewelPoint, is set tolaunch later this year, connecting private-label manufacturers with US buyers. JewelPoint will help bring together buyers and suppliers ofhard-to-source gold, loose gemstones, unbranded finished-gemstone jewelry andestate jewelry. The event is intended to complement regular trade shows ratherthan replace them. The first edition wil...Read More
(IDEX Online) - Platinum Guild International (PGI) has released its Q1 Platinum Jewellery Business Review of the platinum jewelry market around the world revealing a number of trends that are encouraging market optimism including economic growth, young consumers, wedding traditions and self-purchasing habits. "Around the world we see opportunities for increased platinum jewelry consumption...Read More
Gem Diamonds paid just over $18.3-million to the governments of Lesotho and Botswana for extractive activities completed in the financial year ended December 31, 2017.Of this amount, about $18.1-million was paid to the government of Lesotho, with the balance of $230 000 paid to the Botswana government.AdvertisementThe payment to Lesotho included taxes of about $229 000 and $17.8-million...Read More
(IDEX Online) - The Lucapa Diamond Company and its partners have completed a sale of alluvial diamonds from the Lulo diamond project in Angola, with gross proceeds of $2.0 million. The average price per carat was $1,150, with the sale excluding a number of large white Specials and a colored Special which were not presented for sale and were held back for a future sale, the miner said. ...Read More
(IDEX Online) - The World Diamond Council (WDC), an industry group focused on preventing conflict diamonds from entering the legitimate global supply chain and protecting the value of natural diamonds, reaffirmed its commitment at the 2018 KP Intersessional meeting being held in Antwerp from June 18-22 to driving ongoing positive change through reform. The Intersessional is an annual forum...Read More
Diamond miner Trans Hex expects to report a loss a share of 175.6c for the financial year ended March 31, compared with a loss a share of 173.6c in the prior financial year.The company further expects to report a headline loss a share of 216.5c, compared with a headline loss a share of 114.6c in the previous corresponding period.AdvertisementTrans Hex, however, expects to report a net profit from...Read More
(IDEX Online) - HRD Antwerp and Deputy Minister of Finance of the Russian Federation Aleksey Vladimirovich Moiseev have signed a Memorandum of Understanding (MoU) for the establishment of an HRD Antwerp diamond grading lab in Moscow. "The signing of this landmark MoU is an important step forward in the process of opening the first HRD Antwerp laboratory in the Russian Federation," HRD Antwe...Read More
* Sales, tax revenue a fraction of previous levels* Kimberley Process members meet this weekLONDON, June 18 (Reuters) - Despite a partial lifting of a ban on its diamond exports, the Central African Republic (CAR) is struggling to restore sales and seeing only a fraction of the tax revenue it once did, its mining minister said in an interview.As a member of the 81-nation Kimberley Process which ce...Read More
Australia's Lucapa Diamond (ASX:LOM) said Monday it had made $2 million after selling a new parcel of diamonds found at its prolific Lulo mine in Angola.Together with its partners, Empresa Nacional de Diamantes and Rosas & Petalas, Lucapa sold 1,782 carats at an average price of $1,150 per carat.Sale has taken gross sales proceeds from the Angola-based mine so far this year to $15.9 million.The sa...Read More
RAPAPORT... New York-based Global Diamond Group has refused to return a 30-carat pink diamond in an attempt to force the stone's majority owner into a buyoutdeal, according to a lawsuit.Global, which has the diamond on memo, held the stone"hostage" so that L.J. West Diamonds would buy its 15% stake in the diamond, L.J. West alleged in a June 14 filing at the Supreme Court of the State of NewYork....Read More
RAPAPORT... Lucapa Diamond Company brought in $2 million from a sale ofrough diamonds originating at its Lulo mine in Angola, it said Monday. The miner sold 1,782 carats for an average price of $1,150per carat. The sale did not include several white stones and one coloreddiamond weighing more than 10.8 carats that it plans to sell at a future date. Overall, Lucapa has sold $15.9 million of goods i...Read More
RAPAPORT... Researchers in Antwerp have developed fully automatedpolishing technology that, they claim, will make the production process 10 to20 times faster. The new equipment, Fenix, will take an hour and a half tocarry out work that currently takes manufacturers a full day, the Antwerp WorldDiamond Centre (AWDC) said Monday. The Scientific and Technological ResearchCenter for Diamonds (WTOCD),...Read More
RAPAPORT... Richline Group has promoted three team members to executivepositions in its jewelry division, following the appointment of Dave Meleski (pictured) as CEO. Bobby Kempler will take on the newly created role ofpresident of the jewelry segment, the Berkshire Hathaway-owned manufacturersaid last week. Kempler joined Richline in 2017 after its acquisition of SamuelAaron Group, of which...Read More
ASX-listed Lucapa Diamond Company and its partners Empresa Nacional de Diamantes (Endiama) and Rosas & Petalas have completed a further sale of 1 782 ct of alluvial diamonds from the Lulo project, in Angola.The parcel achieved gross sale proceeds of $2-million, or A$2.7-million, representing an average price of $1 150/ct, or A$1 530/ct.AdvertisementThe sale excluded a number of large white spe...Read More
(IDEX Online) - The Italian Exhibition Group (IEG) will be joining Emerald Expositions at The Las Vegas Convention Center for the launch of PREMIER in 2019. IEG is the organizer of approximately 60 events, including the VICENZORO shows, as well as pavilions at other US-based trade events, and it will showcase a significant pavilion of Italian Made jewelry from some of the most highly regar...Read More
(IDEX Online) - Belgium's Scientific and Technological Research Center for Diamonds (WTOCD) says that after more than 10 years of research it has succeeded in developing a technology that fully automates the polishing process. The WTOCD, the research center of the Antwerp World Diamond Centre (AWDC), said that, as a result, diamonds can be polished 10 to 20 times faster than by hand. A...Read More
(IDEX Online) - Sales of fine jewelry and fine watches rose by 9.5 percent in the U.S. market in April, when compared to the same month a year ago, as the graph below illustrates. Sales were an estimated $7.2 billion, according to preliminary data from the U.S. Commerce Department. Strong Start to 2018 Jewelry Sales American jewelry consumers appear to be in a stron...Read More
(IDEX Online) - Carats.io has announced that it has appointed former Israel Diamond Exchange and Israel Diamond Institute Managing Director Eli Avidar as president. Carats.io is an Israeli startup issuing the first cryptocurrency backed by diamonds, thereby establishing the first-ever financial market for diamonds. The company uses state-of-the-art Big Data and blockchain technologie...Read More