RAPAPORT... India's polished-diamond exports grew 14% in April,according to data the nation's Gem & Jewellery Export Promotion Council(GJEPC) released recently. Shipments increased year-on-year to $1.99 billion for themonth, with the volume of exports rising 17% to 2.8 million carats, the GJEPCfigures showed. The average price of exports decreased 2% to $719 per carat. Polished imports sl...Read More
JOHANNESBURG (miningweekly.com) – Improved market conditions and cost controls have seen diamond miner Alrosa deliver strong first-quarter financial results, with net profit doubling to 33.2-billion rouble.Earnings before interest, taxes, depreciation and amortisation increased by 78% on the preceding quarter to 48-billion rouble. Revenue increased by 58% quarter-on-quarter to 96-billion rou...Read More
MOSCOW – Russia's Alrosa, the world's largest diamond producer by output, plans to boost revenue from selling rare, coloured stones where demand is stable, although it is a niche business.Nature gives fancy colours to about one in every 10 000 rough diamonds of gem quality that are mined around the world.AdvertisementThe stones that can be blue, pink or green form a special asset cla...Read More
RAPAPORT... Mountain Province has appointed Stuart Brown as its CEO, to succeed interim chief David Whittle, the Canada-based miner said Tuesday. Brown (pictured), currently CEO of Firestone Diamonds, recentlyannounced he would leave the company on June 30. He was previously CFO of DeBeers, as well as joint acting CEO of De Beers' global activities. Brown willbegin his role at Mountain Provin...Read More
RAPAPORT... Ernie Blom is poised to serve another two years as president ofthe World Federation of Diamond Bourses (WFDB), after Yoram Dvash turned downthe role. "The executive of the WFDB at their meeting [in Germany inMarch] asked me to stay for one more term," Blom (pictured) told Rapaport News onWednesday. He first became president in 2006, and he has held the position atvarious times sin...Read More
A 6.16-carat blue diamond that was secretly passed down through European royalty over three centuries has fetched $6.7 million at a Sotheby's auction in Geneva - $1.4 million more than what experts expected it to be sold for.The pear-shaped, dark grey-blue gem, known as The Farnese Blue, is believed to be one of the most important historical diamonds left in private hands until today, which was th...Read More
World's No.2 miner Rio Tinto (LON, ASX:RIO) said Tuesday that cost inflation driven by rising oil prices and a resurgence of resource nationalism are increasingly affecting mining companies' investment decisions.Speaking at the Bank of America Merrill Lynch conference in Miami, chief executive Jean Sebastien-Jacques said he remained optimistic about the medium to long-term global growth outlook...Read More
Mountain Province Diamonds (TSX, NASDAQ: MPVD) has appointed outgoing Firestone Diamonds (LON:FDI) boss and former De Beers financial chief, Stuart Brown, as its new president and top executive.Brown led Lesotho-focused Firestone since September 2013 and was the main person in charge of securing the funding and building the team that delivered the successful construction and transition to producti...Read More
RAPAPORT... The Gemological Institute ofAmerica (GIA) has advanced its Mine to Market (M2M) diamond-tracking programbeyond the pilot stage, the grading center said Monday. The GIA has signed up"dozens" of retailers, several manufacturers and the majority of rough-diamondproducers to its initiative so far, it said. Through the pilot, the organization has already processed thousands of r...Read More
(IDEX Online) - Mountain Province Diamonds Inc. has appointed outgoing Firestone Diamonds Plc CEO Stuart Brown as its new President and Chief Executive Officer with effect from July 1. Firestone Diamonds on Monday announced the appointment of Paul Bosma to replace Stuart Brown as CEO from 1 July following Brown's decision to step down as CEO and company director. Brown has been...Read More
JOHANNESBURG – Botswana’s President, Mokgweetsi Masisi, wants a new long-term diamond-sales pact with De Beers when the current ten-year deal expires in 2020 and for more gems to be processed locally.The conclusion of an accord is crucial for both Botswana, which relies on diamonds for almost a fifth of its gross domestic product, and for the Anglo American unit that gets about two-thi...Read More
RAPAPORT... Spence Diamonds has appointed Frank Hamlin as its first chief marketing officer. Hamlin (pictured) was previously executive vice president and chiefmarketing officer of Tailored Brands, a menswear retail group. The hire follows a significant investment in its brand marketing, Spence reported. "Frank brings with him a proven track record for drivingtraffic, increasi...Read More
(IDEX Online) - Botswana's President, Mokgweetsi Masisi, is looking for a new long-term diamond deal with De Beers when the sides' current 10-year deal expires in 2020 which will include provisions for more stones to be cut and polished domestically. Both Botswana and De Beers have a strong incentive to reach a deal: Diamonds are a critical part of Botswana's gross domestic product and...Read More
MOSCOW – Alrosa, the world’s largest diamond miner by output, is increasing its marketing efforts and targeting new opportunities in gem cutting at a time when the market is showing signs of starting to stabilize.The Russian firm, which typically hasn’t promoted stones outside Russia, last year contributed $25-million to the Diamond Producers Association for marketing and may inc...Read More
RAPAPORT...Mountain Province saw $52 million in revenue from its GahchoKu?(C) mine in the first quarter of 2018 amid strong demand for rough diamonds. "Rough-diamond markets in general continued to firm notablythrough the quarter, with strong demand and price increases reported across allproduct categories, supported by robust retail jewelry sales reported from boththe US and Asian markets," said...Read More
RAPAPORT... Fancy blue diamonds outperformed other major colorcategories in price terms during the first quarter, the Fancy Color ResearchFoundation (FCRF) said.Prices for fancy blues jumped 5% year on year for the threemonths ending March 31, according to the FCRF, which released its quarterlyFancy Color Diamond Index (FCDI) on Monday.By contrast, prices of fancy pink diamonds declined 1.7%,...Read More
RAPAPORT... The Gemological Institute ofAmerica (GIA) has advanced its Mine to Market (M2M) diamond-tracking initiative beyond the pilot stage, the grading center said Monday. The GIA has signed up"dozens" of retailers, several manufacturers and the majority of rough-diamondproducers to its initiative so far, it said. Through the pilot, the organization has already processed thousands...Read More
VANCOUVER (miningweekly.com) – Canadian diamond producer Mountain Province Diamonds has appointed Stuart Brown as incoming president and CEO, effective from July 1, to replace interim president and CEO David Whittle, who took the helm following the immediate departure of former president and CEO Patrick Evans in June last year.Brown brings with him more than 25 years of experience in the dia...Read More
RAPAPORT...Mountain Province saw $52 million in revenue from its GahchoKu?(C) mine in the first quarter of 2018 amid strong demand for rough diamonds. "Rough-diamond markets in general continued to firm notablythrough the quarter, with strong demand and price increases reported across allproduct categories, supported by robust retail jewelry sales reported from boththe US and Asian markets," said...Read More
RAPAPORT...Mountain Province saw $52 million in revenue from its GahchoKu?(C) mine in the first quarter of 2018 amid strong demand for rough diamonds. "Rough-diamond markets in general continued to firm notablythrough the quarter, with strong demand and price increases reported across allproduct categories, supported by robust retail jewelry sales reported from boththe US and Asian markets," said...Read More