Distinguishing natural diamonds from laboratory-grown stones has been difficult for jewelers. Until now.The Growing Popularity of Laboratory-Grown DiamondsLaboratory-grown diamonds are increasingly available in greater quantities, higher quality and new colors at price points that many find attractive. It is no wonder then that laboratory-grown diamonds are a growing presence in the marketplace, w...Read More
RAPAPORT... The European Union (EU) has excluded diamonds in its latest round of sanctions against Russia.The new package, which the Council of the EU released last Thursday, extends certain trade bans and imposes restrictions on imports of "elements used in the jewelry industry, such as stones and precious metals," the bloc said in a statement.However, it does not curb imports of diamonds, source...Read More
RAPAPORT... US e-commerce is expected to grow at a slower pace this holiday season due to inflation and a challenging economic environment, according to Adobe Analytics.Sales will rise 2.5% year on year to $209.7 billion over the November-to-December period, Adobe predicted in its annual holiday shopping forecast Monday. That gain is lower than the 9% year-on-year increase in 2021, when consumers...Read More
(IDEX Online) - A diamond tycoon from Lesotho scored a surprise victory in the nation's polls last week.Sam Matekane, the richest man in the poverty-stricken African mountain kingdom, came closer than anyone expected to an overall majority and is expected to form a coalition government.He founded the pro-business Revolution for Prosperity (RFP) party, just seven months before the elections, w...Read More
RAPAPORT... US jewelry sale increased in September even as other luxury categories lost steam, according to Mastercard SpendingPulse.Revenue for the category grew 7% year on year during the month, Mastercard reported last week. The rise comes despite the effects of inflation, which influenced a 5% decline in sales of luxury products excluding jewelry. Overall retail spending climbed 11% in Septemb...Read More
(IDEX Online) - Diamond miners in Zimbabwe will have to pay half of their royalties to the government in rough gems rather than cash.The move, to be implemented immediately, was announced by President Emmerson Mnangagwa (pictured)in a weekly newspaper column for The Sunday Mail (9 October edition).The new royalties rules also include gold, platinum group metals (PGM) and lithium, widely used in re...Read More
(IDEX Online) - RioZim has bought the Sperrgebiet Diamond Mine in Namibia in a deal reportedly worth $58m. Sperrgebiet has two land and two offshore licenses and says it specializes in small and melee diamonds. It describes itself as "a diversified natural resource company that performs land-based exploration, mining and rehabilitation operation and services". RioZim, the Zimbabwe-based diversifi...Read More
(IDEX Online) - The GIA (Gemological Institute of America) says it will launch a digital-only version of its Diamond Dossier in January 2023.It's the first step towards phasing out all printed reports with three years, a move that will save saving 20 tons of paper and 18.5 tons of plastic a year. "Beginning Tuesday, January 2, 2023, GIA Diamond Dossier will be available in a convenient,...Read More
RAPAPORT... This year, we commemorate the 10th anniversary of theInternational Day of the Girl. The day, which falls on October 11, focuses on the need to address thechallenges girls that face and promotes girls' empowerment and the fulfilment oftheir human rights. In the last 10 years, there has been a greater focus on gender equality with more opportunities for girls to have theirvoices heard on...Read More
RAPAPORT... The Williamson Pink Star diamond has become the second-most valuable jewel ever sold at auction, following a 'bidding frenzy' at Sotheby's Hong Kong.After a 20-minute battle, which included 50 bids, the cushion-cut, 11.15-carat, fancy-vivid pink, internally flawless diamond ring sold for $57.7 million, nearly three times its $21 million high estimate, Sotheby's said following the one-o...Read More
(IDEX Online) - Bruce Cleaver is to step down early next year as CEO of De Beers Group and will be replaced by Al Cook, of the Norwegian energy giant Equinor.Cleaver, who was appointed as CEO in 2016, will become co-chairman of the company.Cook is currently executive vice president of exploration and production international at Equinor, the state-owned petroleum company, with responsibility for op...Read More
RAPAPORT... Debmarine Namibia, De Beers' joint venture with the government in the southern African nation, has promoted chief financial officer Willy Mertens to CEO.Mertens will take over on November 1 from Otto Shikongo, who is retiring from Debmarine Namibia at the end of this year after leading the business since 2014, the company said Thursday. De Beers and the state each own 50% of Debma...Read More
RAPAPORT... De Beers is set for a change in leadership as CEO Bruce Cleaver will step down from his role at the beginning of 2023. He will be replaced by Al Cook, who is currently executive vice president of international exploration and production at Norway-based energy company Equinor."Al brings more than 25 years of international leadership experience," said De Beers chairman Duncan Wanblad sai...Read More
(IDEX Online) - Jewelers of America (JA) is seeking donations to support independent jewelers whose stores were wrecked by the devastating 130mph Hurricane Ian. At least 106 people died when it hit Florida on 28 September, the state's deadliest hurricane since 1935. "Our hearts go out to the retail jewelers who sustained significant damage by Hurricane Ian," said JA president and CEO David J....Read More
(IDEX Online) - Two men have been arrested after a flamboyant pastor and his wife were robbed at gunpoint of $1m of jewelry. A third suspect remains at large.The alleged incident happened as Lamor Miller-Whitehead was giving a live-streamed sermon at the Leaders of Tomorrow church, in Brooklyn, New York, in June.The U.S. Attorney's Office for the Eastern District of New York says Juwan Anders...Read More
(IDEX Online) - The EU has imposed new sanctions worth almost $7bn on Russia, but has again decided against a ban on rough diamonds.The 27-nation bloc acknowledged that the state-owned miner was funding a submarine bearing its name. And it quoted President Vladimir Putin (pictured) as saying that Alrosa "gives serious revenues to the federal and regional budget".The EU agreed a raft of new restric...Read More
(IDEX Online) - A private collector from Florida, USA, has paid a near-record $57.7m for the Williamson Pink Star, an 11.15-ct diamond described as "rare masterpiece of nature". The pre-sale estimate was just $21m. It set a new world record for the price per carat ($5,178,124 ) at auction for any diamond or gemstone amid frenzied bidding at Sotheby's Hong Kong on Friday (7 October). And it be...Read More
(IDEX Online) - Police are hunting an armed raider over a smash and grab attack at a jewelry store in Springfield, Virginia, USA.They've named the suspect as Lamont Marable, 25, of Maryland. He is wanted for commercial robbery, use of a firearm in the commission of a felony and conspiracy to commit a felony. Staff buzzed two suspects into the store. The suspects used hammers to smas...Read More
RAPAPORT... Jewelers of America (JA) will present a posthumous honor to industry leader Steven Kaiser at its next GEM Awards.Kaiser, who died in May of this year, will receive JA's Award for Lifetime Achievement at the event at New York's Cipriani 42nd Street on March 17, 2023, the organization said Wednesday. He was president and CEO for the US at the Kennedy watch group and chaired the Jewe...Read More
RAPAPORT... De Beers' rough-diamond sales were seasonally lower in September as Indian factories prepared for the Diwali shutdown, the miner reported Wednesday.Proceeds came to $500 million at the company's eighth sales cycle of the year, which included the sight that ran from September 19 to 23as well as auction revenues. The total was 2% higher than a year earlier but 22% lower than in Augu...Read More