18 Jan
Bonas-Couzyn NV and International Mining and Dredging Holdings (Pty) Ltd (IMDH) have announced that from February onwards, they will be offering IMDH’s Namibian marine-mined rough diamonds from the Diamond Fields licence area, for auction sale in Bonas-Couzyn’s Antwerp offices. IMDH engages in offshore exploration, dredging and marine mining activities as well as specialised vessel and tool design. Their Namibian subsidiary, Nutam Operations (Pty) Ltd, has been contracted by license holder Diamond Fields (Namibia) (Pty) Ltd. to undertake mining operations within their ML111 offshore Namibian mining license and to sell the production recovered. The first sale from IMDH brings to market approximately 47,000 carats of original marine goods of gem quality, mined by the specialist mining...
18 Jan
ALROSA reported that it had held 32 international auctions for special size (over 10.8 carats) rough diamonds in 2018, earning a total of $463 million for the year. The company traditionally holds auctions in six countries — Russia, Belgium, Israel, Hong Kong, the United Arab Emirates and the United States. The largest number of auctions were in Russia, with Moscow seeing 11, while another four were held in Vladivostok. For the first time in many years, the company held two auctions at its sales office in New York, which resumed operations last year. Another six auctions took place in Ramat Gan, three in Hong Kong, four in Dubai and two in Antwerp. ALROSA has planned 37 international auctions for 2019, increasing the number of auctions in Antwerp, New York and Dubai. There will be still...
17 Jan
Signet Jewelers reported disappointing 2018 holiday season sales of $1.84 billion, down 2.5 percent in a comparison with the same period in 2017. Same store sales dropped 1.3 percent. The group’s eCommerce sales in the period, at $222.3 million, were up 5.6 percent year-over-year, while brick and mortar same store sales declined 2.2 percent. The group has revised its fourth-quarter guidance to same store sales being down between 1.6 and 2.5 percent, while guidance for the whole of fiscal 2019 is flat same store sales. Chief Executive Virginia Drosos commented, "Our holiday season performance fell short of our expectations. Early improvements in refreshed merchandise assortment, digital marketing and OmniChannel were more than offset by larger than expected declines in legacy product lines...
17 Jan
Indian Commerce Minister Suresh Prabhu will formally launch a Gem & Jewellery Domestic Council on January 31. The move comes after a third and decisive meeting of 14 industry bodies including the Gem & Jewellery Export Promotion Council (GJEPC), the Bharat Diamond Bourse (BDB), the India Bullion & Jewellers Association (IBJA),  the All India Gems & Jewellery Domestic Council (GJC, formerly GJF) and the Association of Gold Refineries & Mints (AGRM), with the Directorate General of Foreign Trade (DGFT) in Delhi on Wednesday. The new domestic council will not have individuals as members, but instead represent the interests of the participating industry bodies that currently cater to a variety of specific segments. Bharat Diamond Bourse President Anoop Mehta observed, “The...
16 Jan
Synthetic diamonds are now in a growth phase
ABN Amro Bank has said in its diamond sector outlook for 2019 that the year is one of great uncertainty and that lab-grown diamonds, spurred by the entry of De Beers into the segment, are in for a growth phase. This will lower demand for natural diamonds and push prices down. Diamond miners could, as a result, stop searching for new mines and speed up production from existing ones. The clear winner in all of this will be the consumer, the report says. The report, written by the bank’s Coordinator for Foreign Exchange & Precious Metals Strategy Georgette Boele, comments, “The diamond industry has moved from a relatively stable environment to a highly uncertain environment. It notes that 2018 was the year that De...
15 Jan
ALROSA announced that it will develop new mining operations in Zimbabwe with the support of that country’s government. An announcement to this effect was made on Monday during Zimbabwe President Emmerson Mnangagwa’s visit to Moscow. Negotiations held in 2018 by ALROSA and the Zimbabwe resulted in a decision to start operations in the country and open an ALROSA subsidiary there. This company will implement projects for exploration and mining operations with a view to establishing joint diamond and other ore mining enterprises. Towards this, ALROSA (Zimbabwe) Limited was established on December 6, 2018, in Harare. Within the next month ALROSA’s experts, including geologists and mining engineers will arrive in the country to start the operations. ALROSA CEO Sergei Ivanov stated, "Today we...
14 Jan
Patrick Evans
Patrick Evans, who quit as CEO of Canada’s Dominion Diamond last month, is launching a company to make lab-grown diamonds larger than one carat, aimed at the bridal market, reports the Financial Times. While the De Beers-owned Lightbox lab-grown diamond brand has targeted the fashion market and sells its product at between 30- and 40-percent below the price of natural stones in the 1-carat size range, Evans says he hopes to sell the larger, bridal-market stones at only between 15- and 20 percent discounts to the price of natural stones. Evans, who says he has secured financial backing from wealthy individuals and one jewellery company which he declined to name, is reportedly searching for a location in the US to set up a production plant with access...
14 Jan
CIBJO President Gaetano Cavalieri
The Board of Directors of CIBJO, the World Jewellery Confederation, has approved the first edition of the Responsible Sourcing Book, which provides a framework and guidance for due diligence related to the responsible sourcing of gemstones and precious metals in the jewellery sector. It becomes the latest in CIBJO's Blue Book series of definitive industry guides for standards and nomenclature, joining the Blue Books for diamonds, coloured gemstones, pearls, precious coral, precious metals and gemological laboratories. The new Responsible Sourcing Book is the product of a year-long project, which included the creation of the CIBJO Responsible Sourcing Commission and a policy document that was presented at the 2018 CIBJO Congress in...
14 Jan
ALROSA reported that its total diamond sales in 2018 grew six percent year-on-year to $4.507 billion. Rough diamonds sales grew to $4.412 billion, polished diamonds sales stood at $95.3 million. The diamond miner also said that its December sales of rough and polished diamonds increased by 38 percent in a year-on-year comparison to $328.7 million. Rough diamond sales reached $323.7 million while polished diamond sales were $5 million. "A six percent sales growth in 2018 was driven by both high demand for rough diamonds and positive price dynamics in the first half of the year. Market demand was strong in all rough diamond categories, and the traditional slowdown in demand in the second quarter due to seasonality was not registered this year,” said ALROSA United Sales Organisation Director...
11 Jan
The just-recovered 127-carat diamond
Canadian miner Lucara Diamond Corp. announced it had recovered a 127-carat, top white gem diamond, from its fully-owned Karowe diamond mine in Botswana. Lucara said that since mining began at Karowe in 2012, a total of 129 diamonds in excess of 100 carats have been recovered, 33 in 2018 alone. That tally includes 12 diamonds larger than 300 carats in size, of which 5 were recovered in 2018. In addition, Lucara has sold 180 diamonds in excess of $1 million each and ten diamonds have sold for in excess of $10 million each. Lucara CEO Eira Thomas commented, "The recovery of this latest, high-value, top white 127-carat diamond attests to the remarkable nature of the Karowe ore-body, which has consistently delivered large, high-...
11 Jan
Andrea Slingsby
Andrea Slingsby has been appointed chief operating officer for Australia and New Zealand by jewellery retailer Michael Hill International. The jewellery retailer is in the midst of a complete internal overhaul aimed at refocussing its business on its sales and internal design capabilities as well as its digital strategies after a disastrous fiscal 2018, which saw profits plunging 86 percent. Slingsby, who has been working with Michael Hill on a contractual basis since August 2018, has previously been managing director, chief executive and a member of the board of a raft of Australian private and public businesses as well as being president and CEO for North America of Flight Centre, officially took up her new role on January 9. Michael Hill Chief...
10 Jan
Tiffany & Co. has announced that it will provide data on the origin of diamonds that are 0.18 carats and larger through this year and expand the program by 2020 to include an audit trail that will give details of where the stones were cut and polished and eventually set in jewellery. All suppliers will henceforth have to comply with Tiffany’s Diamond source Warranty Protocol, which restricts diamond-sourcing to countries that do not have human rights concerns. The US Department of Labour lists Sierra Leone and several other African nations as using either child or forced labour to extract diamonds. Zimbabwe is linked to torture and forced relocations. Diamonds from nations like Canada, Botswana, Namibia or South Africa, that practice responsible sourcing, will get a “Botswana Sort”...
10 Jan
The Israel Diamond Exchange (IDE) will hold the first ever tender of Israeli polished goods offered by the exchange itself, during the International Diamond Week in Israel (IDWI). The tender will take place from January 27 to 31 and will be held at the IDE’s International Tender Center. The tender will consist of a wide and varied array of polished goods offered by IDE members, with a total value of over $10 million. KOIN International will manage the tender. The IDE said in a press release that since opening the International Tender Center in February 2017, it has become a hub for rough and polished tenders held by major international companies, with dozens of tenders held each year. However, this will be the first time that IDE itself will be holding a tender. According to the IDE, a...
09 Jan
Lucara Diamond Corp. reported that it had made its first rough diamond sale through Clara Diamond Solutions, its fully-owned digital sales platform. The system was successfully launched on November 30 last and final matching was completed on December 16, 2018. A total of seven manufacturers participated in the sale, five of whom matched and received their orders. The Clara system aims at creating a digital rough diamond spot market. All told, diamonds successfully matched to orders generated revenue of $660,865, achieving 8 percent over Lucara's market price and 15 percent over Lucara's reserve price for these goods.  Lucara said goods of approximately similar value have been set aside for the next sale, scheduled to take place later this month. Lucara said that diamonds will be added...
08 Jan
IDE President Yoram Dvash
Israel’s net polished exports stabilised in 2018, totalling $4.48 billion, according to figures published by the Diamond, Gemstones and Jewelry Administration of the Israeli Ministry of the Economy. Net polished diamond imports totalled $3.04 billion, while net rough diamond exports stood at $2.25 billion, and net rough imports totalled $2.66 billion. The stabilisation has taken place for the first time since 2011. While polished exports fell by 2.5 percent, imports of polished diamonds rose 4.1 percent, and rough exports went up by 1.1 percent. Israel Diamond Exchange (IDE) President Yoram Dvash noted that diamond exports in 2018 actually saw a slight increase, although due to changes in the method of measurement the actual increase was...
07 Jan
India’s exports of gems and jewellery in the April-November 2018 period (the first eight months of the fiscal year) stood at $20.73 billion while total sector imports for the period were $17.71 billion. This is a 6.77 percent fall over the $22.24 billion in exports recorded during the same period in 2017 against total sector imports of $20.22 billion. Net exports during the 2018 period, however, stood at $3.02 billion, up from the $2.02 billion recorded in 2017. The import and export data published by the Gem & Jewellery Export Promotion Council (GJEPC) also showed returned consignments of cut and polished diamonds worth $5.65 billion during the period as against the $4.95 billion in consignment returns during the same period in 2017 — a jump of 14 percent. While overall exports...
04 Jan
Kristina Buckley Kayel
The Diamond Producers Association (DPA) has appointed Kristina Buckley Kayel as Managing Director of its North American division. She will assume her new role on February 4 and will be responsible for developing and implementing the DPA’s consumer marketing and communications strategy, with a focus upon the ‘Real is Rare. Real is a Diamond’ platform, as well as represent the DPA in local trades and organisations within North America, according to a DPA press release. Buckley Kayel will report directly to DPA Chief Executive Jean-Marc Lieberherr. The DPA said that Buckley Kayel’s unique background and extensive experience in strategic marketing, communications and digital leadership roles well positions her to spearhead the its mission to...
04 Jan
Anantha Padmanabhan
The All India Gem & Jewellery Domestic Council (GJC), the national apex body of the domestic gem and jewellery industry elected Anantha Padmanaban of NAC Jewellers Ltd. as its next Chairman for a two-year term.  Shaankar Sen of the Senco Group was elected Vice Chairman. The two were elected through a countrywide independently verified online voting process, which also elected new members to the GJC’s Committee of Administration — the body’s governing board. Padmanaban has been closely associated with the GJC ever since its inception and has, over the years, come up with and executed innovative programmes for the benefit of the Industry. He was instrumental in addressing many issues that impacted the industry like excise duty, the Goods and...

Pages