JOHANNESBURG (miningweekly.com) – Lower revenues, higher depletion and amortisation costs and higher administrative and other expenses contributed to a widening in Lucara Diamonds’ net loss to $7-million for the quarter ended March 31, compared with a loss of $1.5-million in the first quarter of 2017.The Vancouver-based miner, which operates the Karowe mine, in Botswana, achieved earni...Read More
RAPAPORT... De Beers Diamond Jewellers has launched an online store on e-commerce platform Farfetch dedicatedto its fine-jewelry collections, the company saidTuesday. The jeweler is featuring designs from its Enchanted Lotusand Talisman lines on the retail-and-fashion website, as well assome of its lower-price designs such as My First De Beers. Farfetch currentlyships to 100 countries and is avail...Read More
RAPAPORT... Lucara Diamond Corp. recorded a loss in the first quarter aslower production and a drop in the average price led to a decline insales. Revenue fell 3% year on year to $25.4 million for the threemonths ending March 31, with the volume of goods sold down 2% to 63,317 carats,the company reported Tuesday. The average selling price slipped 1% to $401 percarat. The miner noted a n...Read More
RAPAPORT... A US court has named Parag Diamonds as thesuccessful bidder for the assets of A. Jaffe, one of Nirav Modi's jewelrybrands. Four prospective purchasers attended the auction on May 3,participating in several rounds of bidding, according to a filing with the USBankruptcy Court for the Southern District of New York last week. While Paragwon, Flourish City Holdings emerged as the "backup" b...Read More
RAPAPORT... Christie's Hong Kong spring sale will feature an 8.01-carat,fancy vivid blue, internally flawless diamond pendant necklace, estimated atbetween $18.5 million and $25 million, the auction house said. The pear-shaped stone, which hangs below a circular-cut, 1.60-carat,fancy intense pink diamond, was designed by Moussaieff. A 0.35-carat whitediamond is set between the two. Other nota...Read More
HARARE, May 8 (Reuters) - Former President Robert Mugabe will not appear before Zimbabwe's parliament as scheduled on Wednesday to answer questions on diamond mining operations, a legislator said.Temba Mliswa, who leads the parliamentary committee on mines, said the clerk of parliament hadn't written to Mugabe to invite him to appear."It has been delayed but that resolution still stands," Mliswa s...Read More
Canada-listed Fura Gems (TSX-V:FUR), a new gemstone mining and marketing company headed by the former COO of Gemfields (LON:GEM), has found a 25.97-carat rough emerald at its Coscuez emerald mine in Colombia.The company, which began operations a year ago, says the gemstone is a "rare and exceptional" one, given its size, colour saturation and clarity.The 25.97-carat gemstone has been named the "?,...Read More
RAPAPORT... Belgium's polished-diamond exports dropped in April,according to data from the Antwerp World Diamond Centre (AWDC). Polished exports decreased 7% year on year to $728.2 millionbut, by volume, rose 3% to 389,218 carats. The average price went down 10% to$1,871 per carat. The fall was mainly a result of a 60% slide in shipments tothe United Arab Emirates to $48.8 million and a 30% drop...Read More
(IDEX Online) - CIBJO, the World Jewellery Confederation, has announced the establishment of an industry-wide working committee to formulate Responsible Sourcing Guidelines specifically for the jewelry, gem and precious metals sectors. The new body was created by the CIBJO Board of Directors in March following Board approval of a draft Responsible Sourcing Guidelines document. When ratified, the...Read More
RAPAPORT... Dominion Diamond Mines has appointed Rachel Aaron to oversee its marketing operations, including the promotion and development of its CanadaMark brand. As director of marketing, Aaron will be tasked with building and nurturing client relations, as well asenhancing the company's social-media profile. She previously worked at jewelry and retail companies. "Rachel joins Dominion at an exc...Read More
RAPAPORT... A synthetics manufacturer has partnered with WarrenBuffett-owned jewelry retailer Borsheims to unveil what it claimed was thelargest pink lab-grown diamond in the world. ALTR Created Diamonds unveiled the Asscher-cut, 3.99-carat,fancy orangey-pink, VS2-clarity stone last week to mark the start of the 2018Berkshire Hathaway Shareholders Weekend, an annual gathering for investors inBuffe...Read More
RAPAPORT... The Dubai Diamond Exchange (DDE) has elected a new board of directors,featuring a range of professionals from across the industry, the bourse saidMonday. New members include Amit Dhamani, CEO of Dhamani Jewels;Davy Blommaert, the diamond-and-metals chief at the National Bank of Fujairah;and Gautam Sashittal, CEO of the Dubai Multi Commodities Centre (DMCC). AhmedBin Sulayem will contin...Read More
HARARE – Former President Robert Mugabe will not appear before Zimbabwe's Parliament as scheduled on Wednesday to answer questions on diamond mining operations, a legislator said.Temba Mliswa, who leads the Parliamentary committee on mines, said the clerk of parliament hadn't written to Mugabe to invite him to appear.Advertisement"It has been delayed but that resolution still st...Read More
RAPAPORT... The Dubai Diamond Exchange (DDE) has elected a new board of directors,featuring a range of professionals from across the industry, the bourse saidMonday. New members include Amit Dhamani, CEO of Dhamani Jewels;Davy Blommaert, the diamond-and-metals chief at the National Bank of Fujairah;and Gautam Sashittal, CEO of the Dubai Multi Commodities Centre (DMCC). AhmedBin Sulayem will contin...Read More
RAPAPORT... Belgium's polished-diamond exports dropped in April,according to data from the Antwerp World Diamond Centre (AWDC). Polished exports decreased 7% year on year to $728.2 millionbut, by volume, rose 3% to 389,218 carats. The average price went down 10% to$1,871 per carat. The fall was mainly a result of a 60% slide in shipments tothe United Arab Emirates to $48.8 million and a 30% drop...Read More
RAPAPORT... The Carat+ show opened on Sunday, helping to raisesentiment in the Antwerp diamond market. Exhibitors noted busy visitor traffic on the opening day,which culminated in the Carat+ Night event, featuring actress Elizabeth Hurleyas the guest of honor. More than 2,400 professionals attended on Sunday, whichwas beyond expectations for the second edition of the show, organizers said. Traff...Read More
(IDEX Online) - More than 2,400 industry professionals attended the first day of CARAT+ on Sunday, far surpassing expectations, according to the organizers. The highlight of the opening day on Sunday was model and actress Elizabeth Hurley and a surprise collection of vintage cars. Hurley, who wore Cascade collection jewels by CARAT+ exhibitor Roberto Coin, formally opened the show by c...Read More
RAPAPORT... Revenue from the retail division of Warren Buffett'sBerkshire Hathaway increased 5% to $3.64 billion in the first quarter, thecompany reported Saturday. The improvement in the segment, which includes jewelrychains Borsheims, Helzberg Diamonds and Ben Bridge Jeweler, was primarilydriven by the company's automotive sector, as well as candy sales over theEaster holiday. Pre-tax earnings f...Read More
(IDEX Online) - Dubai Diamond Exchange (DDE), a DMCC platform, and the only bourse in the Middle East affiliated with the World Federation of Diamond Bourses (WFDB), has elected its new Board of Directors with Dubai Diamond Exchange Chairman, Ahmed Bin Sulayem, at the helm. "The Dubai Diamond Exchange has rapidly grown to a focal point for the global diamond trade with over 1,000 members and...Read More
RAPAPORT... The Israel Diamond Institute (IDI) has appointed Aviel Eliaas managing director, succeeding Eli Avidar, it said Monday."Aviel is very well versed in IDI's mission and activities,"said chairman Boaz Moldawsky. "He has shown leadership, initiative andcommitment. We are all very pleased that he will now be leading theorganization." Elia (pictured) has been legal adviser and company s...Read More