RAPAPORT... India's polished-diamond exports rose 3% year on year in March as a higher average price outweighed a decline in shipment volumes, according to recent data from the Gem & Jewellery Export Promotion Council (GJEPC). India Trade Data for March 2022 Read More
(IDEX Online) - A delegation from Alrosa reportedly visited Indian manufacturers last week to see if they could find a way round banking restrictions.The miner, part-owned by the Russian government, was excluded from the SWIFT financial messaging service after the war in Ukraine began in February.India, the world's biggest diamond polisher, relies heavily on Russian gems.Alrosa discussed opti...Read More
RAPAPORT... Swiss watch exports rose strongly in March, passing the CHF 2 billion ($2.09 billion) stage earlier in the year than ever before.Global shipments increased 12% year on year to CHF 2.09 billion ($2.19 billion) for the month, the Federation of the Swiss Watch Industry reported Tuesday. The improvement came despite an extremely high comparison base the previous year - when the figure rose...Read More
RAPAPORT... Bonhams has appointed Stewart Young as director of jewelry and head of Asia for the category.Young has more than 10 years of experience in the auction industry, having previously held the position of deputy director and specialist at Sotheby's, as well as of director of jewelry at Tiancheng International Auctioneer in Hong Kong. He also worked as an independent jewelry designer, Bonham...Read More
(IDEX Online) - More than 400 items from the Tiffany & Co archive are to be displayed at the iconic Saatchi Gallery, in London.Vision & Virtuosity celebrates the the jeweler's 150th anniversary in the capital.Highlights of the exhibition, which opens in June, include Tiffany's famed window displays, the original script from Breakfast at Tiffany's, the newly-acquired the 80-c...Read More
(IDEX Online) - Britain has imposed a 35 per cent tariff on loose diamonds imported from Russia.It's part of a $1.3bn package of new and increased tariffs on luxury goods aimed at further isolating the country over its invasion of Ukraine.The move comes a month after the British government named Alrosa as one of 65 Russian businesses and individuals being sanctioned in a move to "to cut off v...Read More
RAPAPORT... Bonhams has appointed Stewart Young as director of jewelry and head of Asia for the category.Young has more than 10 years of experience in the auction industry, having previously held the position of deputy director and specialist at Sotheby's, as well as of director of jewelry at Tiancheng International Auctioneer in Hong Kong. He also worked as an independent jewelry designer, Bonham...Read More
RAPAPORT... Check out Rapaport'sinterviews with VIPs at the Dubai Diamond Conference at this link: rapaport.com/dmcc22Read More
RAPAPORT... The UK has imposed heavy tariffs on Russian diamonds as it attempts to up the pressure on President Vladimir Putin following the country's invasion of Ukraine.The government has increased import duties by 35 percentage points on a range of precious and semiprecious stones and metals from Russia and Belarus, it announced last week. These include rough and polished diamonds - whethe...Read More
(IDEX Online) - Gem Diamonds reports a slight increase in quarterly revenue, up four per cent on Q4 2021 to $52.1m, and says it is confident about future prices.Revenue for the three months to the end of March 2022 was up 19 per cent on the same quarter last year.The UK-based miner sold 28,461 carats in Q1 2022, according to a trading update, compared to 24,790 carats in the previous quarter. ...Read More
(IDEX Online) - India's polished diamond exports rose by almost a half during the year to the end of March 2021.Total gross sales were $24.2bn, up from $16.3bn year on year, according to the GJEPC (Gem and Jewellery Export Promotion Council), a dollar rise of 48.8 per cent. Rough imports for the same period were up by almost 74 per cent, from $10.9bn to $18.9bn, though the volume in cara...Read More
(IDEX Online) - Thousands of men, women and children in Sierra Leone are being paid as little as $0.65 a day to dig for diamonds.They're employed by "supporters" to seek out gems in opencast mines of the eastern Koidu region, using nothing more than shovels and sieves.Many turn to artisanal diamond mining in desperation, according to an Aljazeera news report, but face exploitation and human r...Read More
RAPAPORT... Gem Diamonds reported a rise in first-quarter sales amid strong demand and the sale of high-value rough from its Let??eng mine in Lesotho.Revenue climbed 19% to $52.1 million during the three months ending March 31, the company said last week. Sales volume grew 6% to 28,461 carats, while the average price increased 12% to $1,831 per carat.Prices were higher on a like-for-like basis tha...Read More
RAPAPORT... Dubai's Stargems Group has acquired two South African mines in an effort to expand its presence across the diamond supply chain.The diamond-sourcing and supply company recently purchased Jagersfontein Holdings, which runs a site dedicated to processing old tailings and was one of the first diamond mines in South Africa, Stargems chairman Shailesh Javeri told Rapaport News Sunday. It ha...Read More
RAPAPORT... De Beers' production grew 25% year on year to 8.9 million carats in the first quarter as the company responded to strong demand and benefited from improved conditions at its mines.The rise partly reflected a favorable comparison with a period of operational difficulties a year earlier, when high rainfall in Botswana and at the Venetia mine in South Africa restricted output.Product...Read More
(IDEX Online) - Wonder Woman actress Gal Gadot is the face of Tiffany & Co's campaign for its new high jewelry collection.She wears a dandelion-inspired diamond necklace, an orchid brooch and a diamond and sapphire thistle necklace from its spring Blue Book collection, entitled Botanica. She also wears several of Jean Schlumberger's masterworks, including his iconic Bird on a Ro...Read More
(IDEX Online) - The Jewelers' Security Alliance (JSA) is offering a reward of up to $5,000 after a pawnshop owner in New York was bludgeoned to death with a metal pipe.Arasb Shoughi, 60, was so badly beaten that police initially thought he'd been shot in the head.He was attacked during a jewelry robbery at the Global Pawn Shop, on Jamaica Avenue, Queens, on 28 March, and died in hospital...Read More
RAPAPORT... US consumers are expected to spend a record amount on jewelry this Mother's Day as they look to find "meaningful" gifts for their loved ones, according to a National Retail Federation (NRF) survey."Jewelry remains a timeless gift selection for Mother's Day and continues to capture an increasing market share," said Phil Rist, vice president of strategy for Prosper Insights & Analyti...Read More
(IDEX Online) - Bulgari has crafted a platinum, diamond and emerald tiara to mark Queen Elizabeth II's 70 years on the throne.The Italian jeweler says a a team of five, led by a master goldsmith, spent over 1,500 hours creating the piece, which is to be sold privately. No price has been disclosed.The tiara features a 63.44-carat Zambian emerald, carved with a blooming lotus flower. It i...Read More
RAPAPORT... De Beers has inked two exploration agreements with the Angolan government, paving the way for the miner's return to the African country after a decade-long absence.The 35-year "mineral investment contracts" are for license areas in northeast Angola, De Beers said last week. They cover all stages from exploration to mining. The company expects to begin exploration activities this y...Read More