(IDEX Online) - The European Union yesterday proposed an eighth round of sanctions against Russia, but made no mention of outlawing its diamonds.Five of the bloc's 27 countries, including Poland, Estonia, Latvia, and Lithuania, have reportedly called for diamond sanctions.The USA sanctioned rough diamonds from Russia soon after it invaded Ukraine in February, but the EU did not follow suit.Be...Read More
RAPAPORT... The European Union is proposing a fresh package of restrictions on Russian goods but is leaving diamonds untouched, according to the Politico news website.The new sanctions ban imports of several steel products and outlaw the export of certain semiconductors to Russia, the outlet said Wednesday, citing a draft European Commission document that was not yet public. Russian rough is...Read More
News: Diamond trading quiet over Jewish holidays. Dealers cautious due to market slowdown as polished prices continue decline. US jewelers optimistic for 4Q. Stock market slump and strong dollar affecting sentiment. Volatile euro and record-low Indian rupee (INR 81.90/$1) squeezing dealer liquidity. Singapore show opens to mixed expectations; Chinese buyers limited by Covid-19 travel restrictions...Read More
RAPAPORT... Customers left almost half of the diamonds on the table at the latest Trans Atlantic Gem Sales (TAGS) rough tender as the weak market dented demand, the Dubai-based company reported.TAGS presented rough worth $25 million at the smaller-than-usual tender, which took place in Dubai's Almas Tower from September 21 to 28, it said Wednesday. It featured the full range of sizes, mainly...Read More
(IDEX Online) - Russian miner Alrosa has discovered 22 new diamond deposits in Zimbabwe following a $12m exploration program in a joint venture with the country's government.An announcement about the findings was made by Zimbabwe's President Emmerson Mnangagwa (pictured) during a meeting at the United Nations General Assembly, in New York.He indicated that Alrosa will be allowed to work...Read More
(IDEX Online) - Customs officers in the US seized a shipment from Hong Kong of 700 fake Cartier Love bracelets that would have been worth almost $9m if genuine.They suspected they were counterfeit because they "lacked fine details, were constructed from cheap material, and contained fake inlayed diamonds".The bracelets arrived at the Port of Cincinnati, Ohio, and were destined for an address in th...Read More
RAPAPORT... Lucapa Diamond Company has recovered a 113-carat, type IIa rough at its Lulo mine in Angola, its fifth stone over 100 carats this year and the third this month.The new discovery joins that of a 131-carat diamond last week and a 160-carat rough earlier this month, Lucapa said Thursday. All three stones are high quality. Lulo also produced a 170-carat pink in July.In total, Lucapa has un...Read More
(IDEX Online) - A Graff necklace featuring a 13.88-carat Columbian emerald sold for just over $575,000 at Bonhams, London - more than five times its pre-sale estimate. It was the top selling piece in the London Jewels auction of over 200 lots, including many 18th- and 19th-century antiques, as well as art deco items.The detachable pear-shaped emerald drop (pictured) is suspended from a series...Read More
(IDEX Online) - Trans Atlantic Gem Sales (TAGS) saw sales slump at its September rough tender, which that closed today, down from $35m in July to an estimated $14m.It offered only $25m of goods in Dubai, and withdrew 45 per cent amid "difficult" market conditions, though it did not provide an actual sales total.TAGS noted reports that rough prices generally had softened by as much as 10 per cent,...Read More
(IDEX Online) - Arctic Canadian says it has recovered what is likely to be the largest fancy vivid yellow gemstone discovered in Canada. The octahedron diamond, weighing 71.26 carats, was found at the Ekati mine, in Northwest Territories, which was bought from the insolvent Dominion Diamond Mines last year."The beautiful rough diamond exhibits a near-perfect octahedral shape, a rarity for dia...Read More
(IDEX Online) - A huge 18.18 carat pear-shaped fancy vivid pink diamond could fetch $35m when it is offered for sale at Christie's Geneva in November.The auction house says the Fortune Pink (pictured) is the largest pear-shaped fancy vivid pink diamond ever to be auctioned."Weighing an auspicious 18.18 carats, the diamond's weight literally translates to definite prosperity in Asia and i...Read More
RAPAPORT... On September 15th, 2022, next to the breathtaking vista of the Namibian coast as a setting, NAMDIA revealed a new chapter in its quest to capture more value for the diamonds it handles on behalf of the people of Namibia. At an event opened with remarks by the Governor of the Erongo Region, NAMDIA uncovered a diamond that represents a first in Namibian history; the Eumbo Star. Form...Read More
(IDEX Online) - Jewelry customers can now pay $40 for an image of themselves wearing virtual jewelry.It's part of a collaboration between The Banter by Piercing Pagoda - a chain of kiosk stores owned by Signet Jewelers - and DressX, a "metacloset of digital-only clothes".They have jointly launched a six-piece jewelry collection. "Three of the styles are digital-only, featuring elements...Read More
RAPAPORT... A pink diamond weighing more than 18 carats will go under the hammer in Geneva, where Christie's expects it to sell for up to $35 million.The 18.18-carat stone is the largest pear-shaped, fancy-vivid-pink diamond ever offered at auction, Christie's said Monday. Named the Fortune Pink, it will be the star item at the November 8 Magnificent Jewels sale.The auction house believes the diam...Read More
RAPAPORT... Ramit Kapur has joined Gemological Science International (GSI) as managing director of its Indian operations, the laboratory announced Tuesday."Our team is made up of leaders from the diamond and jewelry industry, and I am confident that Ramit's enthusiasm, energy, and vast industry knowledge will help GSI achieve continued growth and success," said Debbie Azar, GSI's president an...Read More
RAPAPORT... Gemfields' earnings more than doubled in the first half of the year as the colored-stone miner returned to its usual auction cycle and demand strengthened.Net profit after tax came to around $56.7 million for the six months ending June 30, compared with $23.8 million a year earlier, the company said Monday in a trading update. Revenue from the Montepuez ruby mine in Mozambique ros...Read More
RAPAPORT... Arctic Canadian Diamond Company has unearthed a 71.26-carat rough, which it claims is the largest fancy-vivid-yellow diamond ever found in Canada.The company recovered the stone from the Misery Pipe at its Ekati mine in Canada's Northwest Territories on August 25, it said last week. That portion of the deposit is known for producing high-quality yellow diamonds, Arctic Canadian noted....Read More
(IDEX Online) - Two hundred lots of rubies mined in Mozambique are to be sold at an inaugural auction by Dubai-based Gemrock. The Dubai-based company expects over 40 companies to attend the five-day event in Bangkok, Thailand. It says it's the first sale of rubies from the Montepuez mine, which it acquired in 2019. The company says it holds nine concessions totalling over 589 square kilometre...Read More
(IDEX Online) - The owner of a jewelry store has been arrested after a series of complaints from customers who said they dropped off items for appraisal or cleaning - and never got them back.They tried and failed to contact Paul Williams, 46, the owner of Jewelry Liquidation, in Tulsa, Oklahoma, USA. The store closed "abruptly".Williams was arrested after at least a dozen customers filed police re...Read More
News: Polished demand slower than usual at this time of year. Jewelers optimistic for holiday season but hesitant to buy inventory. Consumers seeking convenient and interactive shopping experience that combines digital and in-store platforms. De Beers rough prices stable at Sep. sight; secondary market seeing fewer buyers and lower premiums. Grib Diamonds cancels Oct. auction after bank blocks cu...Read More