RAPAPORT... Mountain Province's sales increased at its April rough-diamondtender as a higher carat volume outweighed a weaker average price. The miner sold 451,000 carats of rough from its Gahcho Ku?(C)mine for $26.4 million at an average of $59 per carat, it reported in astatement last week. While total sales rose from $25.1 million in March, theaverage price was the lowest of the year. The Febr...Read More
Precious gemstones miner Gemfields is stepping up efforts to increase transparency across the entire supply chain amid fresh allegations of human rights abuses at its Montepuez ruby mine in Mozambique, which has cost it a lawsuit filed last week in London's High Court.Leigh Day, the London-based law firm representing over 100 locals, said security forces employed by the miner - which describes it...Read More
Shares in Petra Diamonds (LON:PDL) climbed almost 8% on Monday after the miner reported a significant revenue increase in its third-quarter driven by record production in the first three months of 2018.The South African diamond producer, owner of the iconic Cullinan mine, which produced the diamonds for the British crown jewels, said revenue for the quarter ended March 31 climbed 44% to $172 mill...Read More
RAPAPORT... South Africa-based diamond producer Trans Hex is selling two of its Lower Orange River mines that it withdrew from production. Lower Orange River Diamonds, a black-woman-owned company, hasagreed to buy the assets, which consist of the Baken and Bloeddrif mines, for $5.9 million (ZAR 72 million), Trans Hex said last week. Neither of the mines is currently inoperation: Trans Hex p...Read More
(IDEX Online) - More than 1,000 visitors from India and across the world are taking part in the Bharat Diamond Week at the Bharat Diamond Bourse (BDB) in Mumbai, India, which opened today. The Bharat Diamond Week was officially opened by the US Consul General in Mumbai, His Excellency Mr Edgard D. Kagan. BDB ended registration five days ago due to the widespread interest in the show, which runs fr...Read More
RAPAPORT... With JCK Las Vegas approaching, the Rapaport Diamond Podcastlooks at the future of industry fairs. In the latestepisode, available now, the Rapaport editorial team examines the changinglandscape of trade shows, analyzing how organizers are making the events morefocused and more attractive to companies. The podcast also features an interview with Stanley Zale,vice president of diamond...Read More
(IDEX Online) - ALROSA has opened a representative office in the Bharat Diamond Bourse in Mumbai. The opening was attended by Russel Mehta, Advisor to the Chairman and Member of the Board of the Gem & Jewellery Export Promotion Council of India (GJEPC), Anoop Mehta, the President of the Bharat Diamond Bourse (BDB), and Mehul Shah, Vice-President of the Bharat Diamond Bourse. ALRO...Read More
RAPAPORT... Luk Fook saw a strong increase in its performance in thefourth fiscal quarter amid improved sentiment and a higher rate of tourism to Hong Kong. Same-store sales for all categories rose 16% year on year for the three months ending March 31, the Hong Kong-based jewelry retailer said last week. Sales in Hong Kong and Macau were up 18% on a same-store basis, outweighing mainla...Read More
RAPAPORT... Colored gemstones were the leading sellers at the Bonhams NewYork auction, which saw a total of 84% of lots sold for a combined $4.5 million. The top lot, a Cartier Art Deco ruby and diamond bracelet (pictured),sold for $324,500, smashing its pre-sale estimate of $80,000 to $120,000.A ruby and diamond ring also beat the auctioneer's expectation of $80,000 to $120,000, fetching$131,250....Read More
RAPAPORT... Alrosa's diamond production decreased 17% in the firstquarter of 2018, driven by several factors, including the retrieval oflower-grade ore from the Jubilee pipe. Output fell year on year to 7.4 million carats for the firstthree months ending March 31, the Russian miner said last week. Production at the Mirny division declinedfollowing the shutdown of the Mir underground mine in Augus...Read More
JOHANNESBURG (miningweekly.com) – The make-up of production at diamond miner Petra Diamonds is transforming, with higher-value run-of-mine (RoM) production having represented about 82% of the company’s carat volume during the quarter ended March 31.This, the company said on Monday, was in line with the company’s focus on value rather than volume production.AdvertisementPetra&rsqu...Read More
RAPAPORT... Colored gemstones were the leading sellers at the Bonhams NewYork auction, which saw a total of 84% of lots sold for a combined $4.5 million. The top lot, a Cartier Art Deco ruby and diamond bracelet (pictured),sold for $324,500, smashing its pre-sale estimate of $80,000 to $120,000.A ruby and diamond ring also beat the auctioneer's expectation of $80,000 to $120,000, fetching$131,250....Read More
(IDEX Online) - Diamond Durability Laboratory (New York) said it is to offer insurance-related services internationally through partnership with HRD Antwerp. Diamond Durability Laboratory (DDL), a gemological laboratory which focuses on diamond damage, and HRD Antwerp have entered into partnership to expand DDL's insurance-related services beyond New York. By hosting DDL's proprietary adva...Read More
RAPAPORT... Colored gemstones were the leading sellers at the Bonhams NewYork auction, which saw a total of 84% of lots sold for a combined $4.5 million. The top lot, a Cartier Art Deco ruby and diamond bracelet (pictured),sold for $324,500, smashing its pre-sale estimate of $80,000 to $120,000.A ruby and diamond ring also beat the auctioneer's expectation of $80,000 to $120,000, fetching$131,250....Read More
A cut-cornered rectangular step-cut fancy intense blue diamond weighing 3.47 carats set a price-per-carat world record for a blue diamond after it sold for $1.9 million per carat to reach almost $6.7 million at Sotheby's Magnificent Jewels Auction.The gem's final price nearly tripled Sotheby's pre-sale estimate of between $2 million and $2.5 million and pushed up the auction final results to $26.2...Read More
Investors are encouraging Africa-focused Caledonia Mining (TSE:CAL) to expand operations in Zimbabwe, given the new political climate in the southern country.Following the ousting of president Robert Mugabe, the new Emmerson Mnangagwa administration decided to knock out the rule that established that all mines had to be 51 per cent owned by Zimbabweans. Only diamond and platinum assets must comply...Read More
With melting ice expanding access to the Arctic, investors from China to Canada are watching Greenland's election for signs of the political will to get a flagging mining programme on the island back on track.Greenland is hoping rising commodity prices can help attract foreign investment and get its fragile economy up to speed to realise a long-term goal of independence from Denmark.Hype about a p...Read More
RAPAPORT... Russian diamond miner Alrosa has opened its first office in Mumbai as part of aneffort to strengthen ties with Indian diamond manufacturers. The new location, housed in the Bharat Diamond Bourse, willbe headed by Jim Vimadalal (pictured, left), a former Rio Tinto and Swarovski executive. Hisduties will include procuring and negotiating with new clients, exploringpartnership possib...Read More
RAPAPORT... Diamond production at Rio Tinto rose 11% year on year to 4.6million carats in the first quarter of 2018, driven by an increase in outputfrom its Argyle mine. The Australia-based operation yielded nearly 3.6 million caratsin the first three months ending March 31, an 18% jump over the same periodlast year. The growth was due to the processing of higher-grade alluvialtailings, the compan...Read More
RAPAPORT... De Beers announced plans to work with artisanal miners in SierraLeone to ensure their diamonds are ethically sourced and sold at a fair priceon its auction platform. The company has partnered with the Diamond DevelopmentInitiative (DDI) on the project, known as GemFair, which is set to launch apre-pilot phase this month. GemFair will provide tracking technology toartisanal and small-s...Read More