WINDHOEK – Namdeb, a joint venture between Namibia's government and Anglo American's diamond unit De Beers, is expected to lay off at least 130 of its 1,700-strong workforce, a union official said on Wednesday.Shavuka Mbidhi, from the Mineworkers Union of Namibia's Oranjemund branch, said the diamond miner had written to staff offering voluntary redundancies and at least 130 work...Read More
RAPAPORT... Luk Fook's same-store sales increased 1% year on year in thethird quarter ending December 31, driven by a 10% rise in gem-set jewelry."The gem-set jewelry products in [the] Hong Kong and Macau market continued to benefit from the market improvement, as well as the successful introduction of more varieties of stylish and good-value-for-money products," the jeweler said Wednesday. T...Read More
(IDEX Online) - Tiffany & Co. reported that its worldwide net sales increased 8% to $1.05 billion in the two month holiday period ended December 31, 2017 due to growth across regions and product categories, and comparable store sales rose 5%. On a constant-exchange-rate basis that excludes the effect of translating foreign-currency-denominated sales into U.S....Read More
Namibia's top diamond producer, Namdeb, a 50/50 joint venture company between the country's government and De Beers, has begun offering early and voluntary retirement to at least 130 of its 1,700 workers, Xinhua reports.According to the agency, the move seeks to ensure the sustainability of Namdeb land-based operations, which is facing potential sales, Mineworkers Union of Namibia Oranjemund branc...Read More
Australia's Lucapa Diamond (ASX:LOM) has discovered more large diamonds at its prolific Lulo project in Angola, including a 43-carat yellow stone, the largest coloured gem-quality rock ever recovered at the mine.The company also found a 116-carat low-quality diamond, the tenth +100 carat stone recovered from Lulo since mining operations began two years ago. It's also the second +100 carat rock re...Read More
RAPAPORT... Tiffany & Co.'s sales jumped 8% during the holidayseason amid a sharp improvement in US demand and a recovery in Asian markets,the luxury jeweler reported Wednesday. Group sales grew to $1.05 billion during November andDecember, with comparable-store sales - those at branches open for at least ayear - rising 5%. Growth was registered across all regions and productcategories, both i...Read More
JOHANNESBURG (miningweekly.com) – Aim-listed Firestone Diamonds, which sold 156 942 ct of diamonds recovered at its Liqhobong mine, in Lesotho, in the quarter ended December 31, has adopted a revised mine plan to increase cash flow in the short term, while resolving issues that affect the value of recovered diamonds.Diamonds were sold at an average of $80/ct in the December quarter, compared...Read More
RAPAPORT... The Diamond Empowerment Fund (DEF) will honor De Beers CEOBruce Cleaver, as well as Rolex and a Canadian regional government, at itsDiamonds Do Good awards event in Las Vegas in May. Cleaver, who has headed De Beers since July 2016, will pickup the Professional Advancement Award for his role in promoting the role ofwomen in the industry, the DEF said Tuesday. During Cleaver's tenure, t...Read More
(IDEX Online) - The Diamond Empowerment Fund (D.E.F.) has announced the recipients of its 2018 'Diamonds Do Good' Awards, to be presented at the D.E.F. annual gala on May 31 at the Four Seasons Ballroom in Las Vegas. The government of Canada's Northwest Territories will receive the Diamonds Do Good Responsible Government Award; Rolex will receive the Diamonds Do Good Global Corporate Spirit...Read More
RAPAPORT... The third Jewelry Industry Summit, originally planned forearly March, is being rescheduled to a later date due to a lack of funding,organizers said. Although the forum, which promotes sustainability andresponsible sourcing, has received a number of contributions from sponsors, theorganization claims many companies are investing their resources in their own sustainabilityprograms. The s...Read More
(IDEX Online) - The International Grown Diamond Association (IGDA) said that the Gem Certification and Assurance Lab (GCAL) has joined the organization. GCAL is the first diamond and gemstone laboratory to join the organization, the IGDA said. With almost 40 members, which includes lab-grown diamond growers, distributors, suppliers, retailers and technical experts, IGDA members span the US...Read More
JOHANNESBURG (miningweekly.com) – Australia-based miner Lucapa Diamond Company is starting the year off on a high note, announcing on Wednesday that it had recovered another 100-ct plus stone at its Lulo project, in Angola.The 116 ct low-quality diamond is the second 100-ct-plus stone recovered in the first three weeks of the year, and also the tenth such diamond unearthed at the mine, which...Read More
RAPAPORT... Manufacturing Jewelers & Suppliers of America (MJSA) haslaunched a social-media marketing drive aimed at increasing millennials' interest in the jewelry industry, the trade alliance said Tuesday.The Jewelers Do It Better campaign strives to raiseawareness and interest in various jewelry styles. It also seeks to highlight the role of manufacturers and designers by featuring differen...Read More
RAPAPORT... Firestone Diamonds saw an increase in the average price achieved at its Liqhobong mine in Lesotho in the second fiscal quarter as production shifted to a higher-grade area of the operation. The company achieved $80 per carat during the three months that ended December 31, compared to $69 in the previous quarter, the miner reported Wednesday. Firestone sold 156,942 carats for $12.5...Read More
JOHANNESBURG (miningweekly.com) – Global engineering, project delivery, contract operations specialist and asset management group DRA’s acquisition of Perth-based Minnovo expands its Australian footprint and adds depth to its metallurgical, engineering, procurement, project management, construction and commissioning capabilities in the Asia-Pacific region. DRA CEO Wray Carvelas sa...Read More
RAPAPORT... Manufacturing Jewelers & Suppliers of America (MJSA) haslaunched a social-media marketing drive aimed at increasing millennials' interest in the jewelry industry, the trade alliance said Tuesday.The Jewelers Do It Better campaign strives to raiseawareness and interest in various jewelry styles. It also seeks to highlight the role of manufacturers and designers by featuring differen...Read More
Anglo American's De Beers, the world's largest rough diamond producer by value, plans to launch this year the first industry-wide blockchain platform, which will enable greater tracking of gems being traded worldwide.The technology, which De Beers began developing last year, allows tracing each diamond throughout the entire value chain - from mine to buyer. It would make of the company an industry...Read More
RAPAPORT... De Beers is piloting blockchain technology for the diamond industry, working with a small number of participants to test how it works, it said Tuesday.The platform - which keeps a tamper-proof ledger of transactions - will enable a permanent digital record for every diamond registered on the network, De Beers explained. It will span the entire diamond pipeline, enabling improved confid...Read More
RAPAPORT... The second edition of the Carat+ diamond trade show will take place at the Antwerp Expo in Belgium from May 6 to 8, organizers said. The international fair focuses on diamonds, loose stones,diamond jewelry and colored gemstones.Last year's expo saw an official visitor count of 2,927 andwon praise from those involved in the show.This year, the show will feature special exhibitions,...Read More
(IDEX Online) - The De Beers Group has announced it is progressing development of the first blockchain technology initiative to span the diamond value chain and provide a single, tamper-proof and permanent digital record for every diamond registered on the platform. The initiative will underpin confidence in diamonds and the diamond industry by ensuring that all registered diamonds are conf...Read More