RAPAPORT... Israel's Get Diamonds has signed an agreement to sell stones directly to the Chinese jewelry market, the company said this week. Get Diamonds, the e-commerce platform of the Israel Diamond Institute(IDI), will partner with Rock & Trade, an Israel-based company thatprovides a loose-diamond platform specifically for Chinese jewelers andsuppliers. Get Diamonds is a website that enable...Read More
(IDEX Online) - The CARAT+ show is planning a series of talks and seminars hosted by leading industry experts. This follows the recent announcement that GIA Executive Vice President and Chief Laboratory and Research Officer, Tom Moses, will speak at a GIA GemFest on May 7. Jonathan Chippindale, Co-Founder and Chief Executive of augmented retail solutions and software provider, Holiti...Read More
RAPAPORT... Stornoway Diamond Corporation recorded a loss in 2017, as lower-than-expectedrough prices forced it to devalue its Renard mine. The miner reported a net loss of $88.8 million (CAD 114.6million), versus a profit of $15.2 million (CAD 19.6 million) in 2016,it said Monday. The loss was primarily driven by a $132.6 million (CAD 171million) "impairment charge" due to the Renard devaluation....Read More
RAPAPORT... Hong Kong-based jeweler Chow Sang Sang saw a 3% rise insales in 2017, brought about by a stronger Chinese currency and an improvementin consumer sentiment. Sales were $2.12 billion (HKD 16.63 billion) for the year,with jewelry-retail revenue increasing by the same percentage to $1.85 billion (HKD14.52 billion). Revenue from other businesses, including property, also grew 3% to $2...Read More
RAPAPORT... Israel's Get Diamonds has signed an agreement to sell stones directly to the Chinese jewelry market, the company said this week. Get Diamonds, the e-commerce platform of the Israel Diamond Institute(IDI), will partner with Rock & Trade, an Israel-based company thatprovides a loose-diamond platform specifically for Chinese jewelers andsuppliers. Get Diamonds is a website that enable...Read More
RAPAPORT... Hong Kong-based jeweler Chow Sang Sang saw a 3% rise insales in 2017, brought about by a stronger Chinese currency and an improvementin consumer sentiment. Sales were $2.12 billion (HKD 16.63 billion) for the year,with jewelry-retail revenue increasing by the same percentage to $1.85 billion (HKD14.52 billion). Revenue from other businesses, including property, also grew 3% to $2...Read More
GABORONE, March 27 (Reuters) - Botswana's Debswana Diamond Mining said on Tuesday production jumped 11 percent to a three year high in 2017 and it expects growth this year as lower taxes in the United States leave consumers with more to spend on luxury goods.Debswana, a joint venture between De Beers and the southern African country's government, said annual production rose to 22.2 million carats...Read More
RAPAPORT... Sotheby's New York April sale will feature gems andartifacts from jeweler Fred Leighton's personal collection, theauction house said Monday.The event, which will take place April 18, includes jewelry pricedbetween $5,000 and $100,000. Furniture and decorative arts fromthe 17th to 20th centuries that Leighton accumulatedin his Manhattan home will also go under the hammerLeighton, who di...Read More
(IDEX Online) - Mountain Province Diamonds Inc. said that 2018 has seen a strong start in rough diamond markets. "The first two sales of the year substantially exceeded expectations, and prices have firmed across all product categories since the second half of 2017," said Interim President and CEO David Whittle. Announcing its financial and operating results for the full year ended...Read More
JOHANNESBURG (miningweekly.com) – Aim-listed Firestone Diamonds recovered 379 716 ct of diamonds from its Liqhobong mine, in Lesotho, in the six months to December 31.CEO Stuart Brown said in a statement on Tuesday that commercial production at the mine had started on July 1 and that the operation recorded zero lost-time injuries over the first six months of full-scale production, with more...Read More
(IDEX Online) - Firestone Diamonds plc posted a small decline on the year in its net loss to $7.8 million in the first half of its 2018 year ended 31 December 2017 from $8.8 million in the year-earlier period. Commercial production commenced at Liqhobong on 1 July 2017. The miner reported that the average price per carat in the period was $74. Revenue was $26 million. It recovered 37...Read More
JOHANNESBURG – A female employee was crushed to death when she fell onto a conveyer belt at De Beer's Venetia diamond mine in Limpopo, police said on Monday.Spokespeson Brigadier Motjafela Mojapelo said the incident happened on Sunday.Advertisement''The conveyer belt ultimately dragged her into a stone scrubber where her body was found trapped between the rocks with mul...Read More
VANCOUVER (miningweekly.com) – The Gahcho Kué diamond mine, in Canada’s Northwest Territories, has demonstrated strong cash flow generating capabilities over the operation’s first two commercially active financial quarters.Toronto-based miner Mountain Province Diamonds on Monday stressed that 2017 was a milestone year for the company, as it made a shift from development to...Read More
GABORONE - Botswana's Debswana Diamond Mining said on Tuesday production jumped 11% to a three-year high in 2017 and it expects growth this year as lower taxes in the US leave consumers with more to spend on luxury goods.Debswana, a joint venture between De Beers and the southern African country's government, said yearly production rose to 22.2-million carats last year.AdvertisementSales j...Read More
Scientists from Imperial College London and UCL used a synthetic diamond grown in a nitrogen-rich atmosphere to create a new maser that operates continuously.A maser (microwave amplification by stimulated emission of radiation) is the older, microwave frequency sibling of the laser. It was invented in 1954 and has traditionally been used in deep space communication and radio astronomy.However, ear...Read More
RAPAPORT... On the heels of the alleged $2 billion Nirav Modi fraud, theRapaport Diamond Podcast has taken a close look at industry corruption.In the show's fourth episode, "Fraud, Corruption and theRed Carpet," the Rapaport editorial team talks about why diamonds areattractive to swindlers, and what the trade can do to improve its image. Also,guest interviewee Donald Palmieri of the Gem Certifica...Read More
VANCOUVER (miningweekly.com) – Quebec diamond producer Stornoway Diamond Corp has swung to a 2017 net loss of $114.6-million, from net income of $19.6-million in 2016, the company reported on Monday.Longueuil, Quebec-based Stornoway said its full-year results reflected a lower diamond price environment than was originally forecast.AdvertisementThe company noted that net income before impairm...Read More
(IDEX Online) - Stornoway Diamond Corp reported net loss of $114.6 million from net income of $19.6 million in 2016 in its financial year ended December 31, 2017. Its results reflected "a lower diamond price environment than was originally forecast by the Corporation". Net income before impairment was $11.1 million for the fourth quarter and $15.0 million for the year. Diamon...Read More
(IDEX Online) - Surat based STPL, which develops diamond industry technology solutions, said it took part in the recent Festival of Innovation organized by India's President's in association with Department of Science & Technology and the National Innovation Foundation-India. This year's theme was Festival of Innovation and Entrepreneurship (FINE). FINE is a cele...Read More
(IDEX Online) - Israel Diamond Exchange CEO Eli Avidar has announced he will be stepping down from the position and intends to become a member of Israel's parliament, the Knesset. Avidar, aged 53, who also served as the CEO of the Israel Diamond Institute, from which he recently resigned, told the IDE's board of directors that he did not intend to extend his contract with the bour...Read More