22 Jun
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...
21 Jun
ALROSA's International mine near Mirny
Russian state-controlled diamond mining major ALROSA has revised its output plan for its International mine, located 16 kilometres southwest of the town of Mirny. The revision is the outcome of stricter health and safety norms for the mine’s underground construction in the wake of the Mir mine accident in 2017. ALROSA said it is suspending construction below the 800 metre depth level in order to address gas dynamic issues. The company projects a resumption of limited mining at these levels by the end of this year after studies are carried out. Full resumption of mining operations below the level 800 meter level is estimated to take place in 2023, after which the underground mine will return to its designed capacity of 500,000...
21 Jun
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...
20 Jun
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.
19 Jun
WDC Acting President Stephane Fischler
The World Diamond Council (WDC) reaffirmed its commitment to driving ongoing positive change through reform at the 2018 Kimberley Process (KP) Intersessional meeting which kicked off in Antwerp on June 18 and will run through June 22. The Intersessional is an annual forum where members gather to discuss the technical aspects of the various working groups that comprise the KP. Individual members of the WDC currently serve on a range of KP working groups that include Monitoring, CAR Monitoring Team, Statistics, Rules and Procedures, Participation and Chairmanship, Alluvial and Artisanal Production and Diamond Experts.  Addressing the Intersessional, Acting WDC President Stephane Fischler reiterated the need for KP review and...
19 Jun
Last Word Communications owner Michelle Orman interactswith an attendee at the 2017 New York Career Fair
Nearly 50 companies, including Lorraine Schwartz, Tiffany & Company, London Jewelers, Diamonds Direct and many more are expected at its Jewelry Career Fair in New York on July 13, the Gemological Institute of America (GIA) said in a press release.  “Since the inception of GIA’s Jewelry Career Fair, our mission has been to foster networking, opportunity and stimulating discussion,” said Kathryn Kimmel, GIA senior vice president and chief marketing officer, and co-founder of the GIA Jewelry Career Fair. “Between the exceptional panelists, face-to-face career advice and array of recruiters at this year’s event, it is sure to garner success for job seekers.”...
18 Jun
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...
15 Jun
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...
14 Jun
The DEF Board at the event in Las Vegas
The Diamond Empowerment Fund (DEF) hosted its Diamonds Do Good Awards on May 31 at the Four Seasons Hotel in Las Vegas. The funds raised will be used to provide higher education scholarships and assistance to empower young people living in diamond producing countries and where the diamond industry does business and to help communicate this ‘diamonds do good’ impact to consumers. Botswana top achiever student and recent Yale graduate Opelo Matome represented the DEF’s student scholars. She said, “I am ever grateful for the opportunities I’ve been granted through the support of organisations like the Diamond Empowerment Fund and my country’s prioritisation of education, truly one of the most powerful catalysts for change”. The...
14 Jun
After the fiery destruction it has wrought in Hawaii, the Kilauea volcano is now causing it to rain gemstones on the island. Residents have begun finding decent-sized peridot crystals in the rubble and ash of recent eruptions and lava flows. Volcanos are known to spew out quantities of the mineral olivine, which is magnesium iron silicate, in their eruptions. However, this is usually found in the form of a green, sandy residue. Mount Kilauea’s eruptions, however, have thrown hot magma high into the air, where the high crystallisation temperature of olivine enables it to quickly transform into peridot crystals before hitting the ground. Residents of Hawaii are not, however, expected to grow rich suddenly even if they collect buckets full of the gemstones. Peridot...
14 Jun
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...
13 Jun
ALROSA's production township at Udachny
Russian diamond mining major ALROSA said it had spent RUB 4.4 billion ($70 million) in 2017 on environmental programs. The company named two major projects it termed as being of special importance. The first was the restoration of sewage treatment facilities in the town of Udachny, where one of its major mines is located. The treatment facility, with a capacity of 15,000 cubic metres a day, is of strategic importance to the local fisheries, requiring special protection of rivers in the region. The facility’s restoration allowed the additional clean-up of effluents so that they were compliant with the threshold levels for fish reservoirs. The second project involved the construction of a centre to pump quarry and drainage...
13 Jun
The Meya Mining digs in Sierra Leone
Auction platform Koin International will hold a rough diamond tender in Antwerp from June 18 to 26 of original productions from Meya Mining in Sierra Leone, Ekapa Minerals in Kimberley, South Africa and over 60, 000 carats of original Angola production. The tender also includes a larger than 10.8-carat single stone from Angola.  All productions are a full range of colours and qualities. Viewings will take place by appointment in Antwerp at the offices of Koin International and Miranel BVBA on Schupstraat in the diamond district.
13 Jun
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...
11 Jun
Nirav Modi
Fugitive Indian jeweller Nirav Modi, wanted by Indian authorities along with his uncle Mehul Choksi in connection  with a nearly $2 billion bank fraud, is seeking asylum in the UK on grounds of ‘political persecution’, Britain’s Financial Times reported on Sunday. The paper said Indian authorities were waiting for UK law enforcement agencies to approach them before seeking Modi’s extradition. India is already seeking the extradition of liquor and aviation tycoon Vijay Mallya, who is co-owner of the Force India F1 racing team, over loan defaults by his now defunct Kingfisher Airlines. Indian authorities have filed charges against 25 people including Modi, Choksi, former Punjab National Bank (PNB) head Usha Ananthasubramanian and two directors of the bank.
08 Jun
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.”
08 Jun
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.
08 Jun
Chow Tai Fook Chairman Henry Cheng (second from right) and Managing Director Kent Wong (second from left), are flankedby Executive Directors Adrian Cheng (left) and Hamilton Cheng(right) during the announcement of the company's annual results.
The Chow Tai Fook Jewellery Group Limited announced its annual results for the fiscal year ended March 31,2018, reporting revenues of HK$59.16 billion ($7.54 billion) up 15.4 percent from the HK$51.25 billion ($6.53 billion) reported the previous year. Gross profit was HK$16.21 billion ($2.07 billion) as against HK$14.96 billion ($1.91 billion) in fiscal 2017, and due to the encouraging business performance and operating leverage, core operating profit surged by 20.6 percent to HK$5.61 billion ($714.54 million) from fiscal...