Global demand for diamond jewellery grew 7 percent in dollar terms over the first quarter of this year in a year-on-year comparison with 2017, according to research conducted by ALROSA. The miner said the growth could be attributed to a combination of increased consumer demand and the strengthening of other currencies against the dollar. The Asia-Pacific region recorded the strongest growth at 11 percent, mainly due to growth in mainland China along with stronger demand in Hong Kong and South Korea that was fuelled by increased tourist traffic.The Asia-Pacific region accounted for 20 percent of global diamond jewellery demand in 2017. US and Canada sales grew by 5 percent. ALROSA sees this as significant as the US accounted for 53 percent of global demand in 2017. Japanese demand grew by...
Dominion Diamond Mines has announced the auction of its latest production of fancy colour rough diamonds along with stones over 10.8 carats in co-operation with I. Hennig Tenders. Viewings for the auction will be hosted by I. Hennig Tenders and are scheduled in Antwerp from July 5 to 11 and in Ramat Gan from July 15 to 18. The online auction event will take place on July 19.Participation is strictly by invitation only. Dominion said that the most recent production from the Misery kimberlite pipe of its Ekati diamond mine in the Northwest Territories of Canada has delivered a quantity of exceptional yellow fancy colour stones, which will be presented for sale at the upcoming auction. Dominion plans to expand the Ekati mine by developing an underground operation below the Misery kimberlite...
ALROSA announced it had sold 111 large gem-quality diamonds weighing a total of 1,725 carats for $10.5 million at its auction in Dubai from May 27 to June 14. Each individual diamond weighed more than 10.8 carats — what ALROSA calls ‘special sizes’. Winning bids were placed by 32 firms from India, Belgium, Israel, Russia, the United Arab Emirates and the United States. The auction was the third this year. "The auction has concluded with excellent results for us, with the starting price being almost doubled. This once again confirms that diamond market participants are still interested in our products. We plan to hold the next auction in Dubai in October-November this year," said Evgeny Agureev, Director of the United Selling Organisation (USO), ALROSA’s rough diamond sales arm.
The Antwerp World Diamond Centre (AWDC) announced that its Scientific & Technological Research Centre for Diamonds (WTOCD) has developed a technology that fully automates the diamond polishing process and opens up the possibility of diamonds once again being polished on a large scale in Antwerp. According to a AWDC press note, FENIX, the new, fully automated technology, which has been 10 years in development, enables diamonds to be polished between 10 and 20 times faster than the current manual system. A stone, that would typically consumer and entire day in processing, can now be polished in one and a half hours, the AWDC said. AWDC Chief Executive Ari Epstein commented, “This discovery fundamentally changes the diamond polishing process. Today’s wages simply make it too expensive to...
French luxury group LVMH Moët Hennessy Louis Vuitton has launched a dedicated jewellery section on its online retail portal 24sevres.com. The web retailer, which sells fashion items from LVMH’s own labels along with those of competitors like Italian brand Valentino, said the dedicated jewellery section would feature product from 13 brands. Prices for jewellery will range from $90 to $2,500. A study by Bain found that the jewellery segment grew faster than any other in the luxury goods sector barring shoes, clocking a 10 percent rise in constant currencies to €17 billion ($19.64 billion) in 2017. Rival Richemont, which owns the Cartier brand among others, is also boosting its web presence as high-end jewellery and watches increasingly find customers online. Richemont’s online retailer Yoox...
The Zimbabwe Consolidated Diamond Company (ZCDC), the state-owned entity that now controls all diamond mining in the country, is looking at securing $200 million in foreign direct investment while also ploughing in another $200 million from its own diamond sales earnings to bring the country’s rough diamond output up to 10 million carats a year by 2023. Stating this, ZCDC Chief Executive Morris Mpofu said that the strategy, contained in the company’s Diamond Value Management (DVM) plan, will primarily target exploration given that Zimbabwe’s easy-to-mine alluvial deposits have been depleted. Thus apart from the famed Chiadzwa diamond deposits in Marange that are currently being exploited, the ZCDC would look at other areas in Chimanimani as well as known kimberlites in Chihota and Mwenezi...
Coloured gemstone producer Gemfields announce revenues of $71.8 million — what it termed an all-time Gemfields auction record — from its tenth auction of rough rubies held in Singapore from June 5 to 9. The rough rubies were from the Montepuez mine in Mozambique, in which Gemfields holds a 75 percent stake, with the remainder being held by local partner Mwiriti Limitada. Gemfields said that of the 86 lots totalling 629,893 carats, that were offered, 82 constituting 588,656 carats were sold, achieving an average price of $122 per carat. This, the company said, is a record for the its mixed quality ruby auctions.The ten Gemflelds auctions of Montepuez rubies held since June 2014 have generated an aggregate $407 million in revenues. This auction, which offered high, medium and commercial...
ALROSA announced it had sold $277.5 million in rough diamonds along with $10.5 million in polished in May. This brings the 2018 calendar year total to $2.26 billion in rough and $43.3 million in polished. ALROSA Deputy General Director Guy Okoemov commented, ”We continue seeing good demand for almost all assortments of our diamonds. There was a planned decrease in sales in May compared to the same month last year due to the sale of inventories accumulated by the beginning of the year. Along with this was a seasonal decline in the current production, mostly driven by mining suspension at some alluvial deposits in the first months of the year.”
Trans Atlantic Gem Sales (TAGS) has announced it will be holding a rough diamond tender from June 19 to 27 in Dubai’s Almas Tower. Two productions from South Africa and Angola will again be presented, with both productions being of high quality and high colour material. This rough diamond tender follows six previously successful tenders which have been very well received by the market and the offerings continue to grow in both caratage and popularity. While final details will soon be forthcoming from the producers, TAGS said it is expecting in the region of 25,000 carats of South African goods and 18,000 carats of Angolan goods across a full range of sizes with a combined value in excess of $40 million.