The South African diamond beneficiation market is no longer globally competitive, says rough and polished diamonds and precious stones trading association World Federation of Diamond Bourses president Ernest Blom. He tells Mining Weekly that the local diamond beneficiation industry has “shrunk significantly” from its historical global peak 20 years ago. He emphasises that, while the lo...Read More
RAPAPORT... India's KGK Group has bought a stake in Unique Settings, theNew York-based retailer said last week. The two companies announced the partnership at the JCK LasVegas show, noting that Unique Settings' just-in-time services - which allowthe company to deliver a finished product within seven days - complementedKGK's current offering. Unique Settings, with approximately 200 employees, spec...Read More
(IDEX Online) - Signet Jewelers reported total sales were $1.5 billion, up 5.5%, in the 13 weeks ended May 5, its fiscal 2019 first quarter. Total same store sales performance was down 0.1% versus the prior year quarter, however. The firm reported a net loss of $496.6 million in the quarter, compared with a profit of $78.5 million in the year-earlier period due to a non-cash impairme...Read More
The implementation of enabling mining policies by government is key in safeguarding the South African diamond industry from further decline and a worrying contraction, says Global Diamond Network consultant Dr John Bristow. Bristow states that the local diamond mining industry is experiencing a “notable” decline in production, caused predominantly by unfriendly mineral policy and a neg...Read More
Diamond mining company De Beers Consolidated Mines (DBCM) has concluded the process of selecting six local black economic empowerment (BEE) partners as part of an impressive R600-million to R700-million, eight-year transport empowerment initiative at the Venetia diamond mine, in South Africa’s Limpopo province, where the Anglo American group company is at an advanced stage of investing $2-bi...Read More
Russian diamond mining major Alrosa announced on Thursday that it would hold auctions in Hong Kong and Vladivostok for large rough diamonds. The Hong Kong auction will start on June 13 and will run until June 27. The Vladivostok auction would start on June 18 and conclude on June 29. In both cases, the rough stones being auctioned will each weigh more than 10.8 ct.Both auctions are of gem quality...Read More
GABORONE – Botswana Diamonds (BoD) wants to buy liquidated BCL Mine's shares in a diamonds exploration joint venture project, its managing director said on Thursday.BCL mine group, which has been under liquidation since 2016, is selling its 51% stake in Maibwe Diamonds for an undisclosed amount.Advertisement"We have put in an offer to the liquidator of BCL and we hope to get a respo...Read More
The World Diamond Council (WDC) System of Warranties (SoW) has entered a public review period following the completion of an industry review.The SoW review and reform process is part of the WDC’s strategic plan and is intended to help industry participants better implement and demonstrate their commitment to responsible business conduct when buying or selling rough and polished dia...Read More
JOHANNESBURG – Hundreds of artisanal and illegal miners in Kimberley in the Northern Cape will on Thursday receive mining permits from the Department of Mineral Resources. Deputy minister of mineral resources Godfrey Oliphant will hand over two mining permits to artisanal miners, also known as Zama Zamas, in Kimberley. AdvertisementThe artisanal miners successfully negotiated...Read More
RAPAPORT... Martin Rapaport, Chairman of the Rapaport Group, outlined his concerns about the supply side of the market in his annual address in Las Vegas. "Not only must you know where your diamonds are coming from, but you must also know where your money is going," he told the sold-out audience of more than 730 jewelers and diamantaires attending his "State of the Diamond Industry" speech at...Read More
Shares in London-listed Botswana Diamonds (LON:BOD) received a fresh shot in the arm on Wednesday after the miner said it had been granted rights to explore a piece of land close to the Venetia mine, operated by De Beers, which delivers around 40% of South Africa's annual diamond production.The miner believes past explorers "systematically under-estimated" the grade and diamond quality of the 2.5-...Read More
Angola, the world's fifth-largest diamond producer, is working on easing up its restrictive legislation over the industry in order to attract more foreign investment, up production and secure higher government revenue.The country has historically had in place limiting rules over diamond operations, including not allowing foreigners to hold a majority stake and a requirement to sell all precious s...Read More
RAPAPORT... Signet Jewelers' sales jumped in the first fiscal quarter,boosted by income from recent acquisition James Allen and an increase in e-commerce.Group sales grew 5.5% year on year to $1.48 billion in thethree months ending May 5, the retailer said Wednesday. Revenue from e-commercewas up 81% at $146.5 million for the quarter, accounting for 10% of total sales. Of the divisions, James Alle...Read More
RAPAPORT... The Gemological Institute of America (GIA) will offer aseries of seminars this year on advanced detection of lab-grown stones. The courses, which will be taught by GIA research scientistsand classroom instructors, will combine lectures with practical labinstruction. The GIA will address methods of identifying chemical vapordeposition (CVD) and High Pressure-High Temperature (HPHT) ston...Read More
RAPAPORT... Botswana Diamonds will not continue exploration of the Ontevredenpipe in South Africa, after discovering it was smaller than previouslyexpected, it said Wednesday. "Modern mineral exploration technology is not a magic bullet,"said chairman John Teeling. "Modern geophysics indicated a 0.7-hectare pipe atOntevreden.Our drilling confirmed asmaller pipe, which is not currently commercial."...Read More
(IDEX Online) - Belgium's polished diamond exports increased by 5% in May, according to data from the Antwerp World Diamond Centre (AWDC). Polished exports rose 5.0% on the year in May to $1.12 billion, with a rise of almost 4% in carat terms. Increases were more modest in the January-May period, rising by 0.6% to $5.09 billion, with an increase in carat terms of just 0.2% to 2.11 mi...Read More
RAPAPORT... Nine jewelry designers have received the ManufacturingJewelers & Suppliers of America (MJSA) Vision Award, which honorsoutstanding creativity, craftsmanship and technological prowess in the field. Prizes include cash and gift certificates for tools andsupplies, as well as scholarships for students, the trade body said Tuesday. Winnerswill also be profiled in the MJSA Journal, and r...Read More
RAPAPORT... The Las Vegas jewelry week ended on Monday with tradingreflecting a steady US market, despite the slower foot traffic at the variousshows. "Traffic was a bit down, but it was an okay show," saidone Israeli polished supplier exhibiting at the JCK fair. "Dealers were lookingfor goods, and retailers were maintaining relationships." Some noted that activity was better for jewelry suppliers...Read More
LUANDA – Angola will make changes to how its secretive diamond industry works in order to attract more investment, increase production and secure higher government revenue, President João Lourenço said on a visit to Antwerp, Belgium.Africa's second-largest crude producer is trying to open up and diversify its economy after suffering a dramatic slowdown due to lower oil pric...Read More
(IDEX Online) - The GIA said it is offering its new Advanced Synthetic Diamond Seminars in August in Mumbai and London, and in October at its world headquarters in Carlsbad, California. The seminar dates coincide with gem and jewelry events or tradeshows in each city. Participants will have the opportunity to gain in-depth knowledge of advanced diamond identification techniques and to have...Read More