22 Apr
Vancouver-based Newmont Mining has completed its acquisition of Canada’s Goldcorp for $10 billion, creating the world’s single largest gold producer by market value, output and reserves. The new mining powerhouse, with mining assets in the Americas, Australia and Ghana, is projected at producing between 6- and 7 million ounces of gold annually for the next decade and more. Newmont’s acquisition of Goldcorp was interrupted recently when rival Barrick Gold launched a hostile takeover bid for Newmont in February this year. The attempted takeover, aimed at creating synergies between the two firms’ adjacent mining operations in Nevada would have made Barrick the world’s single largest gold producer. The bid was, however withdrawn and Barrick and Newmont signed a joint-venture agreement in...
22 Apr
Nancy Liu
De Beers announced that Nancy Liu will become the new Forevermark CEO, stepping up from her current role as COO and taking over the day to day responsibility for the group’s diamond brand. De Beers Executive Vice-President of Consumer & Brands Stephen Lussier will continue to oversee the strategic role Forevermark plays within the group’s brand portfolio as Forevermark Chairman. However, De Beers said that by stepping away from the day to day accountability for Forevermark, Lussier will be able to increase his focus on shaping De Beers Group’s strategy at the consumer level. Lussier commented, “This is a moment of great opportunity for diamonds. As symbols of nature, uniqueness and positive social impact, they have huge potential to inspire consumers...
20 Apr
The Gemological Institute of America (GIA) has appointed Shahdeh Ammadi to the newly-created position of director of institute relations. Formerly director of alumni relations and annual giving at the Columbia University Graduate School of Architecture, Planning and Preservation (GSAPP) in New York, Ammadi will oversee the Institute’s global alumni program, the GemKids program for young, aspiring gemologists as well as guest services at GIA’s Carlsbad headquarters. “The more than 130,000 active GIA alumni in 65 chapters around the world are important ambassadors for our Institute and help to fulfil our mission to ensure the public trust in gems and jewellery,” said GIA President and CEO Susan Jacques.  Based in Carlsbad, California and reporting to Vice President of Education and Chief...
20 Apr
Petra Diamonds announced it had on Thursday, recovered a 209.9-carat, D colour, Type II gem quality diamond at its Cullinan diamond mine. This is the third larger-than-100-carat Type II D colour gem quality diamond recovered by Petra since March 2019, and the fourth such stone in the current financial year. The company said that this most recent recovery again demonstrates the prevalence of these types of stones in the Cullinan orebody. There has been an improved incidence of large and high-value stones as its C-Cut Phase 1 block cave progresses across the footprint. The recovery also demonstrates the ability of the mine’s plant to recover the full spectrum of diamonds. Petra also confirmed that this stone, along with ’The Legacy’, the 425-carat, D colour, Type IIa diamond recovered from...
18 Apr
The orange-pink diamond ring will headline the sale
Auction house Bonhams announced that its upcoming sale in New York on May 1 will be headlined by a 12.62-carat fancy orange-pink diamond ring estimated at between $1.5- and $2 million. The sale will also feature a ring featuring a 15.23-carat cushion-shaped Kashmir sapphire, estimated at $1.28-$1.78 million; a fancy deep yellow brown diamond pendant, weighing 24.23 carats, estimated at $200,000-$300,000; an oval-shaped brilliant-cut diamond, weighing 10.05 carats, estimated at $200,000-$250,000 and an emerald and diamond ring of bombé design estimated at $60,000-$100,000. The auction will also feature signed jewellery including creations by Cartier, Harry Winston, Tiffany & Co., and Van Cleef & Arpels....
18 Apr
ALROSA announced it had initiated diamond mining at its new Zarya pipe located in the operational area of its existing Aikhal mine. The new deposit is expected to have a productive life in excess of 10 years. ALROSA said it had spent RUB 12 billion ($188 million) in developing the pipe. Its major advantage was that since it was located just 3 kilometres from the existing Aikhal mine, it required no new plant and processing machinery. The company said the new deposit will compensate for the declining production from its Komsomolsky open-pit mine, which is also located within the Aikhal operational zone. The Aikhal mine’s operational zone, which employs 4,500 personnel and also includes the Yubileyny pipe, accounts for 30 percent of ALROSA’s production. In 2018, the zone contributed almost...
17 Apr
The Okavango Diamond Company (ODC), the rough diamond marketing arm of the Botswana government that sells the latter’s 15 percent share of Debswana production, has showcased a 20.46-carat diamond graded by the GIA as being an oval brilliant Type IIb, Fancy Deep Blue of VVS2 clarity. The stone was cut from a 41.11-carat rough stone unearthed at Botswana’s Orapa mine. It has been named the Okavango Blue by the company in recognition of Botswana’s own environmental natural treasure and world heritage site, the Okavango delta. It is also seen as a symbol of the company. The stone will be showcased over the coming months to promote Botswana as a leading global producer of natural ethical diamonds with an anticipated sale toward the end of the year. ODC Managing Director Marcus ter Haar...
17 Apr
Signet Jewelers, which had, in February this year, sought voluntary staff cuts after a disappointing holiday season, has now announced that it will lay off some employees in Akron as not enough personnel had signed up for what it calls the Voluntary Transition Program or VTP. The company, which reported an operating loss of $765 million on revenue of 6.25 billion in fiscal 2019 and is currently implementing a turnaround plan that involves the closure of 150 retail stores and the limiting of new store openings this year, had indicated that it would resort to layoffs if there were not enough sign-ups to the VTP. Signet Vice President for Corporate Affairs David Bouffard was quoted as saying, “We were hopeful that we could achieve our cost savings targets through the VTP, but we have let...
16 Apr
Sarine Technologies Ltd. announced that Japanese bridal jewellery retailer New Art Cima Ltd. is the first retail chain in Japan to implement the Sarine Diamond Journey diamond provenance solution to enhance its customer confidence. The system tracks a diamond through the process chain from mine all the way through to the retail counter. It includes a three-dimensional model of the original rough stone that a customer can see and touch, and a digital report that presents the transformation to the final polished gem it has become. According to a Sarine press release, New Art Cima has grown to be the leading bridal diamond jewellery retailer in Japan. It will roll out the Sarine Diamond Journey system first in its Exelco Diamond brand stores. New Art Cima Vice President Tetsuya Shiraishi...
15 Apr
Petra's Cullinan diamond mine in South Africa
Petra Diamonds announced that it had generated revenue of $342.4 million from the sale of 2.8 million carats, for the nine months ended March 31 last. This is a one percent increase over the $337.4 million from the sale of 2.6 million carats in the first nine months of the previous financial year.  s revenue for the nine months to 31 March 2019 up 1% to US$342.4 million from 2,797,700 carats sold (Q3 FY 2018 YTD: US$337.4 million from 2,641,720 carats sold). Third quarter (January-March 2019) revenue of $135.2 million due to a 6 percent reduction in sales volumes to 1,06 million carats, was 7 percent lower than the $145.7 million realised from the sale of 1.13 million carats. The company said that it was maintaining...
12 Apr
The GIA said that its annual London Jewellery Career Fair brought together nearly 200 gem and jewellery enthusiasts from across Europe on April 5 at the historic Goldsmiths' Hall. Job seekers had the opportunity to network with international and local companies looking to fill more than 60 positions in all areas of the industry. The event opened with a welcome address from GIA London School Director Mehdi Saadian and was followed by a wide-ranging panel discussion on Job Success in Today’s Market moderated by GIA President and CEO Susan Jacques. The next GIA Jewellery Career Fair will be in Carlsbad, California, on October 11.
11 Apr
The 1,109-carat Lesedi La Rona, the second largest rough diamond ever discovered after the 3,016.75-carat Cullinan, has been cut by Graff into 67 polished stones, the largest of which is a 302.75-carat stone that the company has named the Graff Lesedi La Rona. Graff said the stone has been certified by the GIA to be of D colour and have ‘high clarity’ though the company did not reveal the clarity grade. The stone was recovered at Lucara Diamond Corporation’s Karowe mine in Botswana in November 2015. Estimated at in excess of $70 million by Sotheby’s, the stone failed to sell at a standalone auction in June 2016, as the highest bid was only $61 million. Graff bought the Lesedi La Rona for $53 million in September 2017. According to Graff, initial analysis...
11 Apr
GJC Chairman Anantha Padmanabhan
The All India Gem & Jewellery Domestic Council (GJC) said its meeting with Indian Chief Election Commissioner Sushil Chandra had resulted in the release of 149 kilograms of gold that had been seized by local authorities in the city of Coimbatore. The authorities had claimed the gold, which was being transported, violated the Election Commission’s code of conduct regulations. Elections are now under way in many states of India and the Election Commission’s code of conduct prohibits the transportation and disbursement of large sums of money in election areas. The rule is aimed at preventing any undue influence on voters. Gold is viewed as a ready substitute for cash and there have been seizures of the precious metal from...
11 Apr
The India Gemstone Week organised by the Gem & Jewellery Export Promotion Council (GJEPC) got under way in Jaipur on Thursday. The event has 30 coloured gemstone manufacturers from Jaipur showcasing their product to 75 buyers from 19 countries. GJEPC Chairman Pramod Agarwal commented, “India has been one of the finest cutting centres for coloured gemstones. This industry has been here for more than 300 years now and currently involves 300,000 people directly. India exported $421.73 million in coloured gemstones in 2018 and the GJEPC is constantly working to boost exports by exploring new markets.” He added, “We are also further developing this sector by providing better infrastructure, upgrading skill and creating opportunities to meet international buyers through platforms like India...
11 Apr
A Bulgari Serpenti watch
Luxury group LVMH Moët Hennessy Louis Vuitton recorded revenue of €12.5 billion ($14.1 billion) for the first quarter 2019, an increase of 16 percent over the same quarter last year. Organic growth, maintaining the same structure and exchange rates, was 11 percent. The group reported that all geographic regions are experiencing good growth. The Watches & Jewelry business group, which reported revenue for the period of €1.05 billion ($1.18 billion), recorded an overall revenue growth of 9 percent and an organic growth of 4 percent over the €959 million ($1.08 billion) reported in the first quarter of 2018. The growth was driven by the performance of its jewellery segment. Bulgari made strong progress in its own stores, driven by its...
11 Apr
A lioness at Zambia's Kafue National Park wears a satellitetracking collar
Coloured gemstone producer Gemfields has partnered with National Geographic to showcase vital projects supported by the company in Africa that benefit both communities and conservation. Two short films created through the collaboration, follow National Geographic photographer and filmmaker Shannon Wild as she explores the communities and environments benefitting from projects supported by Gemfields. The first film, based in Zambia’s Kafue National Park, highlights the Zambian Carnivore Programme (ZCP), which both studies large carnivores and addresses threats to them and their ecosystem, to assist their onward survival. The Greater Kafue ecosystem is the largest protected area in Zambia and...
11 Apr
Signet Jewelers Limited released its 2018 Corporate Social Responsibility (CSR) report that highlights its achievements in the four key CSR areas it has outlined for itself — People, Responsible Sourcing, Environmental Stewardship and Charitable Giving. It notes among other things, the company’s high gender parity and its leadership in the area of responsible sourcing. Highlights from the report in each area include: People The only jewellery retailer selected for the 2019 Bloomberg Gender Equality Index. 74 percent of Signet’s field leadership are women. 43 percent of senior management (VP and above) are women, as are 50 percent of the Signet Board of Directors. Over 11,000 Signet team members certified as experts in diamonds or gemmology. Responsible Sourcing Signet leads the...
11 Apr
Trans Atlantic Gem Sales (TAGS) reported that its rough diamond tender in Dubai, which ran from March 26  to April 2 this year, realised a total of $38.36 million from the sale of 41,347 carats. This translates to an average $927.87 per carat. TAGS utilised 30 showing rooms in the Dubai Diamond Exchange to present the productions to 204 companies over the eight-day period. Specialist manufacturing companies from India, Belgium and Israel attended the tender. Two regular productions from South Africa and Angola were again presented at the tender along with a Namibian production. All materials were of high quality and high colour and featured a significant number of large single stones and exceptional specials.

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