Australia's Lucapa Diamond (ASX:LOM) has discovered yet another large diamond at its prolific Lulo mine in Angola - a 46-carat pink stone, the largest coloured gem-quality rock ever recovered there.The company said the gem-quality coloured diamond eclipsed both the 43-carat yellow gem found in January and the almost 39-carat pink dug up in September last year."The frequent recovery of large and...Read More
Trading slow as dealers in Belgium and India take long May Day weekendvacation. Good Hong Kong jewelry sales during the holiday, driven by rise intourist spending. Polished prices stable, with 1 ct. RapNet Diamond Index(RAPI?,,?) flat in April. US and Chinese retail sentiment positive. Jeweler Tse SuiLuen FY2018 revenue +12% to $486M, profit +97% to $6M. India March polishedexports +8% to $2B, rou...Read More
(IDEX Online) - The London Diamond Bourse has announced that Vice President Alan Cohen has been named as President of the London Diamond Bourse, succeeding Menachem Prager. Cohen, who started his career in diamonds in 1971 when he trained as a rough and polished diamond sorter, has been a member of the London Diamond Bourse since 1976 and took over the role of vice president two years ago....Read More
JOHANNESBURG (miningweekly.com) – Lucapa Diamonds has recovered a large 46 ct gem-quality pink diamond from its Lulo mine, in Angola.This is the largest coloured diamond recovered to date from the mine, eclipsing the 43 ct yellow diamond recovered in January and the 39 ct pink diamond recovered in September 2016.AdvertisementThe 46 ct diamond was recovered from new Mining Block 4, which is a...Read More
(IDEX Online) - Lucara Diamond Corp. has appointed Naseem Lahri, BCOM, FCCA as Managing Director of Boteti Mining (Pty) Ltd, Lucara's 100% owned subsidiary in Botswana, effective immediately. Naseem Banu Lahri has more than 17 years' experience in the mining industry, including 10 years within Corporate Finance at Debswana at the senior management level. She has also served a...Read More
JOHANNESBURG (miningweekly.com) – The United Selling Organisation (USO) of Alrosa has sold 101 special size diamonds (weighing more than 10.8 ct) at its most recent auction in Vladivostok, netting a total revenue of $14.8-million.The Russian diamond mining company invited 86 companies from the world’s main diamond trading hubs, including Hong Kong, Belgium, Israel and India, to its Vla...Read More
(IDEX Online) - In keeping with Israel's focus on innovation and its reputation as a "Start Up Nation", this year's World Diamond Congress (WDC) will highlight the role of technology in advancing the diamond industry. The WDC is the official forum of the general assemblies of the World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association (IDMA). It will be...Read More
RAPAPORT... PC Jeweller has denied a report that its CEO has beenarrested, but scrutiny of the Indian retailer has intensified amid a slump in itsshare price. Business Television India (BTVI) reported Thursday thatIndia's Central Bureau of Investigation had detained Balram Garg, the jeweler'sCEO, as part of a probe into his dealings with politicians. It also alleged aconnection between Garg and Me...Read More
RAPAPORT... Signet Jewelers has signed an agreement with a minoritypurchaser for its non-prime credit, the retailer said Wednesday. Global alternative-investmentfirm Castlelake will buy 30% of the credit accounts, Signet reported Wednesday. The deal follows a separate agreement with CarVal in March to acquire approximately 70%. The contract with Castlelake will shift Signet to a fullyoutsourced cr...Read More
RAPAPORT... The United Arab Emirates (UAE) has exempted trading in gold, diamonds and precious metals from value-added tax (VAT), according to government news outlets. The government is implementing the change by introducing a "VAT reverse-charge" mechanism, the Emirates News Agency (WAM) reported Tuesday. That process transfers the tax obligation from an overseas supplier to the recipient. T...Read More
RAPAPORT... Lucara Diamond Corp. has appointed Naseem Lahri as the firstfemale managing director of its Boteti Mining subsidiary, which owns thehigh-value Karowe mine. "I am delighted to be welcoming Naseem into her new role asmanaging director of Boteti, the first woman and the first Motswana woman toserve in this capacity for a diamond company in Botswana," said Lucara CEO EiraThomas said Tuesda...Read More
(IDEX Online) - cThe paper will aim to address critical banking issues such as assessment of credit limit, collateral security, related party transactions, inventory valuation, and subsidiary cguidelines, and is aimed at mitigating the concerns of the key stakeholders of the industry that has been hit by the recent Nirav Modi fraud case. The white paper, entitled 'Diamond Financing 2018 New...Read More
JOHANNESBURG (miningweekly.com) – Diamond miner Gem Diamonds has appointed COO Johnny Velloza as deputy CEO with immediate effect.Velloza will join the company’s board from July 1 and will continue to be responsible for the company’s operations.AdvertisementTo watch Creamer Media's latest video reports, click here AdvertisementRead More
RAPAPORT... Gem Diamonds has appointed Johnny Velloza deputy CEO,effective immediately, the company said Wednesday. Velloza has been the miner's chief operating officer for thepast two years. He will continue in that position, and will also join thecompany's board on June 1. Gem Diamonds owns the Let??eng mine in Lesotho, known for itshigh-value rough stones.Read More
(IDEX Online) - The GIA will offer a new synthetic diamond seminar at GIA locations around the world beginning in Hong Kong on June 19, just before the Hong Kong Gem Show. The one-day program, taught by GIA research scientists and experienced classroom instructors, will combine lectures with practical lab instruction, including the latest GIA instrumentation for differentiating natural diamonds f...Read More
JOHANNESBURG (miningweekly.com) – Diamond miner Lucara Diamond Corporation on Tuesday announced that its Botswana subsidiary Boteti Mining’s CFO and director, Naseem Lahri, has been promoted to Boteti Mining MD.Lahri has served as Boteti Mining’s CFO since 2013 and is a professional accountant with a master’s degree in strategic management. She has more than 17 years’...Read More
RAPAPORT... Stable demand for Botswana's rough diamonds resulted in flatexports in the first quarter of 2018, according to recent data. Outbound shipments for the January-to-March period slid lessthan 1% to $911 million, from $912.6 million last year, the Bank of Botswanasaid. In January, rough exports totaled $339.7 million, whileshipments for February came to $229 million, and March results were...Read More
(IDEX Online) -The Bonas Polished Diamond Tender at the May 6-8 CARAT+ show at Antwerp Expo will feature 163 lots with a total weight of more than 1,700 carats. Of the lots, 133 are GIA-certified stones, while the remaining 30 are parcels of white diamonds. Highlights include 14 fancy-colour diamonds and 119 white diamonds, with weights ranging from 1.00 carat to 5.00 carats. Two diam...Read More
RAPAPORT... Texas jeweler James Avery, creator of a popular brand thatbears his name, has died at 96. "We are forever grateful to Mr. Avery for giving us theopportunity to be a part of his dream," the retailer said in a Twitter post on Monday."He was a dynamic, creative and generous man who touched the lives of manypeople during his lifetime through his work, his art and his giving spirit. Hiscont...Read More
(IDEX Online) - Borsheims Fine Jewelry is the latest company to share its positive social impact stories through the Diamond Empowerment Fund's Diamonds Do Good initiative. Borsheims, based in Omaha, Nebraska and owned by Warren Buffett's Berkshire Hathaway Group, is spreading its community development efforts to Botswana, from where its Kalahari Dream Diamonds are sourced. In two of the drought...Read More