19 Aug
Seen launching the new lab service are (from left to right)Sarine Global Sales & Marketing Vice President MichaelGoren, BDB Vice President Mehul Shah, Ramniklal Shahof Venus Jewel, Sarine India Vice President for BusinessDevelopment Rajeshwari Mehta and Sarine IndiaManaging Director Yoav Efrat.
Sarine Technologies Ltd launched its Sarine Lab Services at the Bharat Diamond Bourse exclusively for BDB members on August 12. The services offered include pre-grading to ascertain light and cut grade for sorting purposes and are provided for free. A fee is charged if a report is required. Sarine, which notes it has had had a close connection with the Indian diamond industry for 30 years, said it was delighted when it was approached by the BDB committee to see how it...
17 Aug
Debswana Managing Director Albert Milton passed away suddenly after falling ill in Johannesburg. He was admitted to hospital on August 15 but passed away the next morning. Milton was appointed Managing Director of Debswana, the equal ownership joint venture between the Government of Botswana and De Beers as well as the De Beers Group Executive Committee in December 2018.  He joined Debswana in 1992 and held various positions throughout his career across the company’s mining operations and in leadership positions. He was appointed General Manager of Jwaneng Mine in 2013 and held posts as Project Manager at Venetia Mine in South Africa and as General Manager at Morupule Coal Mine in Botswana from 2008 to 2013. Lynette Armstrong, Chief Financial Officer, Debswana, is serving as Acting...
17 Aug
The Lab Grown Diamond and Jewellery Promotion Council (LGDJPC) held its inaugural International Lab-grown Diamond Jewellery Show in Mumbai concurrently with the then ongoing India International Jewellery Show (IIJS) from August 9 to 12, at an adjacent venue. The show featured over 70 exhibitors and organisers said it saw 25,000 trade visitors. Visitors to the show included top-echelon management of De Beers, the Bharat Diamond Bourse (BDB), major Indian diamond firms and Swarovski. The show was inaugurated by Somchai Phornchindark, President of the Gems, Jewelry & Precious Metal Confederation of Thailand. The guest of honour was Atul Jogani of the Thai Gem and Jewelry Traders Association (TGJTA). Phornchindark said in his inaugural remarks that the lab-grown segment has huge potential...
16 Aug
In a bid to reverse sharply declining sales with its women customer base, Tiffany & Co. announced on August 15 that it was launching a men’s jewellery line aimed at a younger customer base that is more influenced by the likes of Jay Z and John Mayer. The line will be available to customers in October. The retailer is banking on the fact that half its present client base consists of men who come into its stores to buy jewellery for women.Tiffany wants these men to stay back and shop for themselves in clearly demarcated men’s sections. Tiffany is offering a jewellery range that starts as low as $200 and tops out at $15,000. It is also planning to add men’s home furnishings and accessories like cocktail shakers, ice tongs and beer mugs that could range as high as $75,000. There were...
15 Aug
The Diamond Development Initiative (DDI) announced the appointment of Ian Rowe as its new Executive Director, with effect from September 2. Rowe has been the DDI Deputy ED since September 2018. As Deputy ED, he has led the DDI’s field operations in Sierra Leone and a six-month strategic planning process to position DDI for a future in which artisanal mining is expected to become a much more prominent development challenge. He brings two decades of experience in Africa, Latin America and the Caribbean, where he has worked with civil society organisations and United Nations agencies in the areas of development, socio-economic recovery and conflict prevention. "Artisanal miners are at the wellhead of the diamond pipeline," commented Rowe, adding, "bringing them into the formal diamond...
13 Aug
ALROSA announced it had sold 99 special size (each over 10.8 carats) gem-quality diamonds weighing an aggregate 1,532 carats at its recently concluded auction in New York. Total revenue from the sale of the stones amounted to $7 million, translating to an average $4,569 per carat. Auction participants included companies from the United States, Belgium, India, Israel and the UAE.   "We completed our third diamond auction in the US this year. Undoubtedly, the current difficult situation in the market has a direct impact on sales results, and we see a slight decrease in demand. Nevertheless, auctions continue to attract new customers. The latest auction was attended by 80 companies, 25 percent of which were customers from the US," said ALROSA United Selling Organisation Director Evgeny...
12 Aug
The Gem & Jewellery Skill Council of India (GJSCI), an industry-specific body operating under the National Skill Development Council (NSDC), showcased its efforts to revive traditional Indian jewellery art forms like Thewa, Gajra, Bindri and Tarakasi at its Crafts Pavilion at the IIJS trade show. GJSCI Chairman Sanjay Kothari said the GJSCI was also working towards providing these traditional art forms a global platform to showcase their work. Kothari said the organisation’s efforts included involving industry-leading organisations like the Diamond Producers Association (DPA), the Platinum Guild International (PGI), the De Beers diamond brand Forevermark and Swarovski, along with a number of large retailers. According to him, many of them were looking at having employees upgrade...
12 Aug
Tom Moses speaks at the launch function
GIA India formally launched its Diamond Origin Report service in India at on August 9 at the India International Jewellery Show (IIJS). Doing the honours were GIA Executive Vice President and Chief Laboratory and Research Officer Tom Moses, All India Gem & Jewellery Domestic Council (GJC) Chairman Anantha Padmanabhan, GJC Vice Chairman Shaankar Sen and Gem & Jewellery Export Promotion Council (GJEPC) Vice Chairman Colin Shah. The service confirms the country of origin of a polished diamond and includes a full assessment of the diamond’s 4Cs along with a plotted diagram of its clarity characteristics, and a report number inscription. The Diamond Origin Report service is built on GIA’s decades of scientific research...
12 Aug
ALROSA United Selling Organisation Director Evgeny Agureev commented that the miner’s ‘significant’ decline in rough diamond sales over the first seven months of this year was attributable to a number of factors including a sizeable inventory overhang in the midstream that had built up last year due to abnormally high demand growth, exacerbated by by low credit availability for the industry midstream and the US-China trade tensions, among other factors. ALROSA announced that it had sold $164.6 million in rough diamonds along with polished worth $5.9 million in July. The miner said that this brought its total sales for this year (January-July) to $1.95 billion in rough and $33.1 million in polished sales. In comparison, the company sold $2.48 billion in rough during the first six months of...
08 Aug
The 36th edition of the India International Jewellery Show (IIJS Premiere) organised by the Gem & Jewellery Export Promotion Council (GJEPC), kicked off in Mumbai today, with GJEPC Chairman Pramod Agarwal urging the Indian industry to grab the “$6 billion” opportunity that has presented itself with the US slapping a 10 percent duty on imports of Chinese gem and jewellery products. More expensive Chinese jewellery imports to the US are seen as opening a window of opportunity for the Indian export production industry to step in and fill the gap. Additionally, Agarwal said India’s trade pivot to the east would help channel Indian business in what are currently difficult times for the global industry. The GJEPC Chairman was referring to the just-concluded meeting of the 16-nation...
07 Aug
Titan Company, which owns the Tanishq jewellery brand and holds a majority stake in CaratLane, reported that its jewellery business saw revenue rise 13.3 percent during the first quarter of fiscal 2019-20 (April-June) to ₹4,047 crore ($571.64 million) from the ₹3,572 crore ($504.5 million) recorded in the first quarter of fiscal 2018-19. "Growth in the jewellery segment was adversely impacted by high gold prices, especially during the month of June 2019," Titan said in a regulatory filing with the Bombay Stock Exchange. The watches business grew by 20.4 per cent to ₹715 crore ($101 million) during this period, while its eyewear business saw a 13.1 percent rise in revenue to₹149 crore ($21 million). Managing Director Bhaskar Bhat commented, "The macro-economic environment coupled with...
06 Aug
The Australian Securities Exchange (ASX)-listed Lucapa Diamond Company, announced that it had recovered a 64-carat D colour Type IIa diamond from its Mothae mine in Lesotho. The mine is jointly owned by Lucapa and the government of Lesotho. The diamond was recovered from the Mothae mine’s higher-margin zones in the southern pit, which have only recently become operational after dewatering. Lucapa Managing Director Stephen Wetherall said that the stone is the best individual diamond recovered to date from the new Mother mine and further underlines its status as a source of large and premium-value stones. Wetherall observed, “The recovery of this exceptional 64-carat gem also represents a great start to our mining campaign in the higher margin zones in the southern pit at Mothae.” The...
05 Aug
Jewellery brand Pandora, which is in the midst of implementing a comprehensive turnaround plan, announced it will kick off a global brand relaunch with an event in Los Angeles on August 28, where the company’s autumn collection will also be unveiled. Following this, the global roll-out of a new store design, new online platforms, new partnerships and new products will begin. Pandora said is on track for the upcoming brand relaunch as part of its companywide turnaround initiative known as Programme NOW. After the kick-off event in LA, the brand relaunch will be rolled out over the second half of 2019 and into next year, renewing the entire consumer experience. According to the company, the brand event in LA will be attended by over 400 guests from around the world and international news...
01 Aug
The fourth edition of the gem and jewellery industry’s annual banking summit, organised by the Gem & Jewellery Export Promotion Council (GJEPC), took place in Mumbai on July 31. The focus of this year’s event was the urgent need to provide institutional finance to the micro, small and medium enterprises (MSMEs) that make up 80 percent of the firms in the sector. The Indian gem and jewellery industry as a whole has been suffering from a sharp reduction in bank finance that has followed the globally reported financial defaults by key diamond industry stakeholders as well as number of defaults in the jewellery sector. The GJEPC’s noted that given the high value and export-driven orientation of the industry, the role of banks and the government-owned Export Credit Guarantee Corporation (...
01 Aug
SDE President Lin Qiang will be guest of honour at theBharat Diamond Week
Bharat Diamond Bourse (BDB) President Anoop Mehta and Vice-President Mehul Shah will be holding meetings with the leadership of the Shanghai Diamond Exchange (SDE) and member companies next week as they seek to boost the number of Chinese companies attending the third edition of the Bharat Diamond Week (BDW) which takes place at the bourse from October 14 to16. They will be meeting with SDE President Lin Qiang and his senior management team to discuss participation by SDE members at the polished diamond week.  "We are delighted to have been invited to hold talks with the leaders of one of the most important diamond exchanges in the world and to address companies that are members of the...
31 Jul
Yury Okoemov
ALROSA announced that Yury Okoemov, one of its Deputy CEOs, who lately had been supervising the miner’s diamond cutting operations, is leaving the company. Along with him, Alexander Matveev, the head of the company’s legal department, will also be exiting.  ALROSA said that its diamond cutting complex will now be supervised directly by CEO Sergey Ivanov, while the legal department will come under Deputy CEO Konstantin Mashinsky. Alexander Terentiev, Advisor to the CEO and Head of ALROSA's office in Yakutsk, left the company in mid July to take a new position as First Deputy Head of the Committee for Precious Metals and Precious Stones of Yakutia. ALROSA's representative office in Yakutsk will be restructured in order to eliminate duplication of...
31 Jul
The Gemological Institute of America (GIA) is offering $2 million in scholarships for aspiring or current gem and jewellery professionals interested in GIA gemmology, jewellery manufacturing arts, distance education courses and lab classes in 2020. The scholarships are available for on-campus and distance education programs, and are open to US and international prospective students. Applications will be accepted August 1 through September 30. The scholarships are made available by the GIA Endowment Fund and private donors.  The GIA has awarded more than $10 million in scholarships since 2010, helping more than 2,000 students study at GIA schools in Bangkok, Carlsbad, Dubai, Hong Kong, London, Mumbai, New York, Surat, Taiwan and now Tokyo, as well as through distance education programs. “...
31 Jul
The All India Gem and Jewellery Domestic Council (GJC) has said that the only effective way for Indian gold imports to be reduced was the implementation of a comprehensive integrated gold policy that would liberalise and simplify gold monetisation schemes that enabled the recycling of household gold for new jewellery manufacture. The GJC has sought an immediate rollback in the hiked import duty of gold from 12.5 to 10 percent. The GJC sought government action in this regard to rescue the gem and jewellery industry and protect the jobs of the 5.5 million people engaged in it. The GJC said its recommendations have been echoed by the India Gold Policy Centre (IGPC) set up by the Indian Institute of Management at Ahmedabad, which notes that a comprehensive and integrated gold policy will...

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