18 Sep
Sarine CEO David Block (left) and NGTC President ZhiBin Yesign the agreement
Sarine Technologies Ltd. announced it has signed a strategic framework with China’s National Gemstone Testing Centre (NGTC) that aims at providing AI-based 4Cs and light performance grading, diamond traceability and fingerprinting along with other digital solutions for the retail trade. The agreement combines the NGTC’s extensive gemological research and diamond testing expertise with Sarine's developments in artificial intelligence (AI). The signing took place on September 16 in Beijing. NGTC President ZhiBin Ye commented, “NGTC and Sarine have a very good foundation for cooperation on diamond cut grading and we are very glad to strengthen our partnership. Both NGTC and Sarine aim to...
18 Sep
ALROSA announced that its supervisory board will consider the acquisition of a 100 percent stake in the financially troubled Smolensk-based diamond cutting and polishing company Kristall at an independently-apprised valuation of RUB 1.886 billion ($29.25 million). The key transaction terms are outlined in a decree signed earlier by Chairman of the Government of the Russian Federation (Prime Minister) Dmitry Medvedev. Should the acquisition be approved, the acquisition will go ahead by the end of this month and ALROSA's management will, by the end of the year, prepare an action plan to develop and continue operating Kristall as part of ALROSA group. ALROSA CEO Sergey Ivanov commented, "Kristall has been going through some financial challenges in recent years on the back of an increasingly...
16 Sep
The Indian government announced a slew of measures to boost the country’s exports and the Gem & Jewellery Export Promotion Council (GJEPC) expressed its gratitude, saying the measures would go a long way towards easing the many problems the gem and jewellery sector was facing in the current tough global economic environment. GJEPC Chairman Pramod Agarwal stated, “With great pleasure, I would like to thank and acknowledge the positive announcements made by the Honourable Finance Minister today. I am glad that the government. has understood the concerns of the gem and jewellery sector and has come up with various measures to boost exports and facilitate trade.” The government announcement came a day after data revealed that India's exports had dropped by 6 per cent to $26.13 billion in...
16 Sep
Namdeb Holdings Limited, the equal-ownership joint venture between the Namibian Government and De Beers Group, announced it had sold the Elizabeth Bay Mine and its associated marine assets as a going concern to Lewcor, a fully Namibian-owned consortium, reports Reuters. Namdeb has sought a buyer for the Elizabeth Bay mine since the beginning of last year, when it announced it could no longer run the mine economically. The company wanted a buyer suited to operate the mine in a sustainable way, ensuring continuation of employment and economic activities in Namibia. The mine, located along the southwestern coast of Namibia near the town of Luderitz, produced around 200,000 carats in 2017 and employed approximately 160 people. The transaction is worth N$120 million (US $8.23 million), with...
11 Sep
The first-ever jewellery buyer-seller meet primarily for the US market, organised by the Gem & Jewellery Export Promotion Council (GJEPC), kicked off in Mumbai yesterday. The event however, also featured buyers from the United Kingdom, New Zealand, Ireland, Spain and Germany, The three-day event has 32 overseas buyers — comprising a mix of jewellery retailers, wholesalers and distributors — in matched meetings with 23 Indian jewellery exporters. The GJEPC event’s major focus, however, was mainly on the US market. India’s gem and jewellery exports to the US grew 16 percent to $10.48 billion in fiscal 2019 from the $9.06 billion recorded in 2016. Indian exports to the US in fiscal 2019 accounted for 26.3 percent of the country’s total gem and jewellery exports. The bulk of these exports...
10 Sep
ALROSA announced it had sold rough diamond worth$180.2 million and polished worth $1.5 million in August. These figures bring the company’s January-August total to $2.13 billion in rough and $34.6 million in polished sales. "The diamond market is still experiencing headwinds from both macroeconomic and industry specific factors, which have an adverse impact on the midstream. There is also a seasonal slowdown weighing on the summer sales,” commented ALROSA United Selling Organisation Director Evgeny Agureev. He added that meanwhile, for the first time since 2010, August sales were higher than in July — mainly due to stock replenishment by diamond cutters. However, since August trading started much later than usual, some sales were moved into September. Thus while cautioning that it is...
10 Sep
A fluorescent diamond under natural light (top)and under artificial lighting (below).
ALROSA is talking to several global jewellery retailers about jointly marketing the miner’s jewellery brand that uses fluorescent diamonds, as it strives to create a new niche for the natural stones, reports Reuters. The miner hopes to see its fluorescent diamonds at retail counters within a year, sold from differentiated locations within the store under its recently created Luminous Diamonds brand. The initiative seeks new approaches to battle falling demand and competition from diamonds manufactured in laboratories and is aimed at millennials, born between the 1980s and the early 2000s, as well as Generation Z, born between the 1990s and the 2000s. “We are completing talks with...
09 Sep
Lot 19 of the collection comprises 35 diamonds weighinga total of 3.62 carats
Rio Tinto has launched a new collection of pink diamonds from its Argyle diamond mine in Western Australia. Known as the Argyle Pink Everlasting Collection, the offering showcases the full colour palette of Argyle pink diamonds, weighing 0.14 carats and below. The collection comprises 64 lots and weighing a total of 211.21carats, represents just two per cent of the Argyle pink diamond annual production. It is expected that less than 100 carats of the equivalent profile will be produced by the mine prior to closure in 2020. The Argyle Pink Everlasting Collection will be tendered alongside the annual Argyle Pink Diamonds tender in Perth, Singapore, London and New York with bids closing on...
05 Sep
Signet reported fiscal 2020 second quarter results, with total sales of $1.36 billion, down 3.9 percent year-over-year, for the 13 weeks ended August 3 on a reported basis and down 3.4 percent down on a constant currency basis. Total same store sales performance decreased 1.5 percent year-over-year. The company’s e-Commerce sales were $156.9 million, up 4.4 percent year-over-year. Signet said e-Commerce sales accounted for 11.5 percent of sales, up from 10.6 percent in the prior year quarter. Brick and mortar same store sales declined 2.3 percent. Guidance for fiscal 2020 sees same store sales down between 2.5- and 1.5 percent, and total sales of between $6- and $6.03 billion.
05 Sep
The Nyurba open-pit mine
In a move to improve efficiency, eliminate duplication and cut costs, ALROSA plans to liquidate the Moscow Exchange-listed ALROSA-Nyurba and bring all its assets and licences onto the parent company’s balance sheet. ALORSA holds 97.5 percent of ALROSA-Nyurba stock. Though it holds two mining licences (for the Botuobinskaya and Nyurbinskaya pipes) and made a net profit of RUB 16.6 billion ($242.5 million) on revenue of RUB 44 billion ($666.8 million), the company has just 30 employees — mainly managers — and all its operations are outsourced to ALROSA operating organs. Last year, ALROSA bought out the Yakutia government stake in the Nyurba diamond fields. ALROSA Chief Executive Sergey Ivanov commented, “The company's top management believes...
05 Sep
Trans Atlantic Gem Sales (TAGS) announced that its inaugural rough diamond tender in the newly renovated facility at the Dubai Diamond Exchange, from September 20 to 27 will feature two regular productions from South Africa and Angola. TAGS said the rough is of high quality and high colour and contains a significant number of large single stones and exceptional specials. The company is expecting in the region of 20,000 carats of South African goods and 20,000 carats of Angolan goods across a full range of sizes. The tender should have a combined value in excess of $30 million, though final details will soon be forthcoming from the producers. As the tender takes place during the Dubai Diamond Conference on September 26, TAGS would welcome meetings with any potential producers or interested...
05 Sep
This 'mystery-set' ruby bracelet by Van Cleef & Arpels willheadline the auction.
Coloured gemstones will lead Bonhams London Jewels sale this month with Van Cleef & Arpels’ rubies, Kashmir sapphires and Colombian emeralds all going under the hammer on September 24. Headlining the sale is a ‘mystery-set' bracelet by Van Cleef & Arpels containing 177 rubies set in seamless channels, creating a bright mosaic of colour, unbroken by any trace of yellow gold.  It has a pre-sale estimate of £100,000-£150,000 ($120,000-$180,000). Also on auction will be: A ruby and diamond ‘bellegarde’ necklace estimated at £40,000-£60,000 ($49,000-$73,000).  A ‘mystery-set’ ruby and diamond bombé ring, estimated at £20,000-£30,000 ($24,000-$36,000) A pair of ‘mystery-set’...
04 Sep
SODIAM, the state-owned Angolan National Diamond Trading Company, has opened the online registration process for companies interested in buying rough diamonds directly from Angola-based diamond mining firms. SODIAM will be the single channel for these sales. The move is part of the Angolan government’s new policy to allow Angola-based diamond mining companies to directly sell up to 60 percent of their production through contract or tendered sales as well as beneficiation marketing. This new marketing strategy was announced by Presidential decree in January this year and forms part of Angola’s new diamond marketing policy and technical regulation. Interested companies must fulfil certain criteria, however. Angola-based firms must show an annual turnover of at least $2 million in rough...
03 Sep
Pandora has signed on six young influencers as part of thebrand relaunch
Pandora’s brand relaunch officially kicked off last week with an event in Los Angeles. The company said the brand relaunch, which is the largest marketing investment in the company’s history, involves a refreshing of all consumer touch-points to increase brand relevance — including the introduction of a new store design, new collaborations, celebrity endorsements, and new products. Pandora said it will also present new online stores and refresh its presence on marketplaces such as Tmall. “Since the launch of the Moments platform in 2000, Pandora has built the best known jewellery brand in the world by allowing consumers to emotionally connect with their jewellery through co-creation and self-...
28 Aug
De Beers announced it had provisionally sold $280 million in rough diamonds through its seventh sales cycle of the year. This is a 44.3 percent drop from the $503 million sold in the seventh sales cycle of 2018. De Beers also said that its actual sales for the sixth sales cycle of this year now stand at $250 million.  De Beers CEO Bruce Cleaver said, “With midstream participants continuing to work down polished diamond inventory levels and reduced levels of manufacturing in the key cutting centres, De Beers Group provided customers with further supply flexibility during the seventh cycle of 2019.”
27 Aug
ALROSA's Supervisory Board recommended a RUB 28.3 billion ($425.7 million) dividend payout for the first half of 2019. The company said that in accordance with its dividend policy, the dividend amounted to 100 percent of the free cash flow for the first half of this year, translating to a 5 percent yield. ALROSA recorded a net profit of RUB 37.5 billion ($564 million) for the period, while net debt stood at RUB 35.4 billion ($532.5 million).
27 Aug
Jewellery by Archana Rao of Tanishq, one of thecompetition winners
The Diamond Producers Association (DPA) India, in collaboration with Lakmé Fashion Week, organised The Real Cut show in Mumbai. The show, now in its second edition, featured high end fashion from celebrated fashion designers Archana Rao, Dhruv Kapoor and ­­­Shweta Kapur along with diamond jewellery designed by six winners of a competition organised by the DPA. The design theme this year focussed on the natural and celebrated through a fusion of couture and jewellery design, the value of natural diamonds, which are many billions of years old. The design competition was open to diamond jewellery designers who are associated with leading jewellery brands from across the country and have been in the...
26 Aug
Coloured gemstone producer Gemfields announced that it had realised $18.6 million from its auction of commercial quality emerald rough held in Lusaka, Zambia from August 19 to 22. The rough was sourced from Zambia’s Kagem mine, which is 75 percent owned by Gemfields with the Industrial Development Corporation of Zambia holding the remainder. Of the 35 lots offered, 26 were sold at an average price of $4.75 per carat. The auction saw 34 companies placing bids. Gemfields said that the 33 auctions of emeralds and beryl mined at Kagem since July 2009 have generated an aggregate $608 million in revenue. Adrian Banks, Gemfields’ Managing Director of Product & Sales, commented, “We are pleased that the green shoots of recovery in the emerald sector first observed at our May 2019 emerald...

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