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28 Jun
The World Federation of Diamond Bourses (WFDB) held an Executive Committee Meeting at the Israel Diamond Exchange on June 24, discussing a wide variety of subjects vital to the industry, as well as moves to enhance the relevance of the organisation. The Executive Committee also heard a review of synthetic diamonds and the state of the diamond trade globally from Martin Rapaport, as well as a presentation on blockchain, which it believes is the future.  Among the other issues discussed was the System of Warranties, led by London Diamond Bourse President Alan Cohen, and the WFDB social media campaign being run by Rami Baron, President of the Diamond Dealers Club of Australia.  The Executive Committee approved the appointment of an External Advisor – former Dubai Diamond Exchange Chairman...
28 Jun
Trans Atlantic Gem Sales (TAGS) will be holding a rough diamond tender in Dubai from July 16 to 23. Two regular productions from South Africa and Angola will again be presented.  TAGS said that all materials are of high quality and high colour and contain 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 10,000 carats of Angolan goods across a full range of sizes. According to TAGS, the event should have a combined value in excess of $30 million, though final details will soon be forthcoming from the producers.
25 Jun
A tough economic environment in China and a large polished diamond inventory stockpile in the value chain has shaved nearly $200 million off De Beers’ fifth sales cycle of the year. The company reported that it had sold rough diamonds worth $390 million in sight holder and auction sales during the period — as against $580 million sold in the fifth cycle of 2018. De Beers also said that its actual sales for Cycle 4 this year now stood at $416 million. CEO Bruce Cleaver commented, “While overall retail sentiment for diamond jewellery in the US remains solid, a more challenging environment in China and higher than normal polished diamond inventories in the midstream resulted in a cautious approach from rough diamond buyers during the fifth cycle of 2019.”
25 Jun
The Almas Tower in Dubai
The Dubai Multi Commodities Centre (DMCC) announced that the fourth edition of its Dubai Diamond Conference (DDC) will take place on September 26. The one-day conference will gather global industry professionals to discuss the impact of technological innovation on the diamond industry, its supply chain and future prospects. Fluctuating prices and profitability combined with increased compliance requirements has seen the diamond industry go through a period of profound change. The pervasiveness of disruptive technology is also significantly altering the traditional methods of diamantaires around the world, especially in terms of processing, valuation and trade. The DMCC said it is expecting over 400 delegates to register for the DDC to...
24 Jun
Jewellery retail brand CaratLane, which was founded in 2008 as an online initiative and then embarked on an omni-channel strategy, is now looking at aggressively expanding its brick-and-mortar network. In 2016, the Titan Company, part of the giant Tata industrial group, which owns the countrywide dominant jewellery retailer Tanishq, bought a 62 percent stake in CaratLane and then increased that stake to 69 percent in February this year. The Titan group announced when it increased its stake that the cash infusion would go towards accelerating CaratLane’s brick-and-mortar expansion. The company, which now has around 62 stores, planes to boost that number to about 90 by the end of the current financial year. CaratLane Chief Operating Officer Rajan Amba was quoted as saying that research...
22 Jun
ALROSA announced that it sold 126 rough diamonds weighing an aggregate 2,090 carats at its auction for large diamonds (over 10.8 carats each) in Dubai, realising revenue of $7.6 million. Among the stones sold was one weighing 63.8 carats. ALROSA said more than 100 companies from the United Arab Emirates, India, Belgium, Russia, Israel, Hong Kong and the United States took part in the event. Evgeny Agureev, CEO of ALROSA’s United Selling Organisation (USO), the company’s rough diamond sales arm, commented, “Our international auctions for the sale of large-sized rough diamonds always attract attention. The auction in Dubai ended with positive results, both in terms of the number of stones sold and in terms of the number of firms that participated in the event. We see that the ALROSA...
22 Jun
De Beers Group Institute of Diamonds announced that it is partnering with the International Institute of Gemology in India (IIG), which has been operating for more than 50 years, to deliver diamond education courses throughout India. De Beers Group Institute of Diamonds Director of Education Jodine Perrin said, “As the major player in the global diamond cutting and polishing industry, India is an area of increased focus for us. We recognise the need for new partnerships that bring education directly to students across large geographical areas, making education accessible and reducing the time and costs involved to businesses in staff training.” The partnership will initially launch with a focus on the De Beers online Diamond Foundation Course (DFC), which teaches students about the entire...
19 Jun
Sarine Technologies Ltd. announced that it is now offering a new simple, automated and extremely cost-effective imaging and visualisation service with interactive personalisation functionality, developed by Israeli start-up Verto, to jewellery suppliers and retailers. The innovative imaging solution generates high quality interactive video displays, derived automatically from but a handful of images captured by any common smartphone. Sarine said the system enables jewellery manufacturers, wholesalers and retailers to provide their customers with exceptionally high-quality video visualisation of the jewellery pieces, along with interactive capabilities to view the piece from multiple perspectives and personalise the setting as well as the types, sizes, and colours of stones, etc., with no...
19 Jun
Coloured gemstone producer Gemfields announced that its auction in Singapore of rough rubies from its Montepuez mine in Mozambique, which ran from June 11 to 15, realised revenues of $50 million. Of the 978,197 carats offered, 962,211 carats sold, achieving an average price of $51.99 per carat.The company said that one lot set a new all-time price-per-carat record for any Gemfields auction. The 12 auctions of rubies from its Montepuez mine since June 2014 have generated an aggregate $512.6 million. Gemfields Managing Director of Product & Sales Adrian Banks commented, “Large, premium quality gems remain very hard to come by and, as is demonstrated by the new price-per-carat record set for any Gemfields auction, such gems command corresponding prices.
17 Jun
The 16th Intersessional meeting of the Kimberley Process (KP) kicked off in Mumbai today with two of the initiative’s observers, the World Diamond Council (WDC) and the Civil Society Coalition, warning participating governments that nothing substantial had so far been achieved towards either reforming it or expanding its scope to make it relevant in today’s context. WDC President Stephane Fischler noted that there was a drastic disparity in the development levels of diamond-producing nations that had not suffered the tragedy of civil war, conflict and violence and those that had. “The Kimberley Process has today a one-time opportunity to make a difference in those countries where the diamond industry has not yet met its developmental potential," he said. Fischler said that while the...
13 Jun
ALROSA announced that it had earned $2.2 million from the tendered sale  in Israel of 62 polished diamonds weighing an aggregate 239.6 carats. The goods on offer consisted of 14 regular stones weighing a total of 108 carats, and 48 fancy coloured ones with a total weight of 131.6 carats. The tender, organised by the miner’s cutting and polishing arm, Diamonds ALROSA, saw the participation of firms from Israel, the US, Belgium, India, Hong Kong and Russia. Diamonds ALROSA Director Pavel Vinikhin commented, “There is a continued interest in large polished diamonds over 3 carats in the market. Our assortment mostly consists of such stones. In Israel, we presented polished diamonds of different colours and cuts. Despite the relatively weak market, the auction went well, and we are pleased...
13 Jun
GJEPC Chairman lights the traditional lamp at theinauguration of the silver jewellery buyer-sellermeet in Jaipur. With him are GJEPC RegionalChairman Nirmal Bardiya (centre) and GJEPC Silver Panel Convener Ram Babu Gupta.
A three-day silver and fashion jewellery buyer-seller meet organised by the Gem & Jewellery Export Promotion Council (GJEPC), kicked off in Jaipur yesterday. The event has 20 Indian silver jewellery manufacturers showcasing their product in one-on-one meetings with 39 buyers from some 11 countries. Inaugurating the event, GJEPC Chairman Pramod Agarwal observed, “Indian-made silver jewellery has gradually made a mark in international markets with remarkably good designs, bold use of diamonds and coloured gemstones that add more value.” With...
11 Jun
Sarine Technologies announced a list of diamond industry midstream stakeholders who are officially part of its Sarine Diamond Journey provenance tracking program. The company said more diamond firms would be added to the list in future after they had met the criteria for participation in the program. Sarine’s initial list consists of Andre Messika Diamonds, Ashwin Diamonds, C. Dinesh, Diarough, Finestar, H&A Cutting Works, Hope International, KGK, Moti Gantz Botswana, Rosy Blue, Schachter and Namdar Namibia (pty) Ltd., Shairu Gems, Star Rays and Venus Jewels. According to Sarine, the advantage of its system is is that it allows midstream players to source diamonds from a variety of mining firms without having to depend on the individual tracking programs of those firms. Sarine CEO...
11 Jun
Russian police uncovered a criminal ring that had stolen millions of dollars worth of diamonds over an extended period of time from the miner. The ring comprised a female employee of ALROSA who worked at the United Selling Organisation, the miner’s rough diamond sales arm, and two outside associates — one an intermediary and the other who sold the stolen goods.  Police apprehended the employee on Monday when she attempted to leave the premises of ALROSA with RUB 22 million ($340,000) worth of stolen diamonds on her person. Police raids at her home and the homes of her associates resulted in the recovery of over $2.5 million in cash and about $3 million in stolen diamonds, along with diamond-encrusted watches and jewellery. The mining company issued a statement saying, ”ALROSA completely...
10 Jun
ALROSA reported it had sold $261.1 million worth of rough diamonds in May, bringing the total of rough sold in the first five months of 2019 to $1.6 billion. The miner also said it had sold $5 million in polished diamonds in May, adding up to $24.1 million in polished sales during the January-May period. ALROSA United Selling Organisation Director Evgeny Agureev commented, “We see the market entering its seasonal slowdown phase. India's cutting and polishing sector is still facing a challenge of financing, which holds back the growth in demand for diamond products.” He added, "Retailer stock levels remain quite high but keep declining — this process will take some time. At the same time, we should note the activity of end consumers of jewellery products in the main markets. Meanwhile...
06 Jun
Signet Jewelers reported total sales of $1.43 billion for the first quarter of fiscal 2020 (13 weeks ended May 4, 2019), down 3.3 percent on a reported basis and down 2.6 percent on a constant currency basis. Free cash flow was $80.8 million, an increase of $79 million over the same quarter in the previous year. Total same store sales performance decreased 1.3 percent year-over-year. However, e-Commerce sales were $154.3 million, up 5.3 percent year over year. The company said e-Commerce sales accounted for 10.8 percent of sales, up from 9.9 percent of total sales in the prior year quarter. Brick and mortar same store sales declined 2 percent. The company’s guidance for fiscal 2020 is that total sales will be between $6- and $6.06 billion, with same store sales down between 1.5 and 2.5...
06 Jun
Coloured gemstone producer Gemfields announced a new brand partnership with Valani as well as collaborations with Misahara and Paul Morelli that feature Zambian emeralds, at the Couture show in Las Vegas. New York-based Valani produced jewellery featuring emeralds and rubies. Valani designer Heena Shah’s fascination with astronomical phenomena inspired the Andromeda collection, while floral and lace motifs engendered the Temps Perdu range. “Sourcing emeralds and rubies from Gemfields supports Valani Atelier’s mission of responsible sourcing and transparency in the jewellery industry,” Shah was quoted as saying.  Gemfields has collaborated with New York fine jewellery house Misahara to produce three one-of-a-kind new designs for Misahara’s bespoke Time collection. Lepa Galeb-Roskopp,...
05 Jun
ALROSA announced that its auction of ‘special size’ (larger than 10.8 carats) rough diamonds in New York realised a total of $8.8 million from the sale of 101 stones weighing an aggregate 1,550 carats. About companies from the US, Israel, India, Belgium, the UAE, Russia and Hong Kong took part in the auction. "Our auctions in the US keep bringing in new clients — especially companies from the US market. More than 20 participants in this auction were American companies,” commented ALROSA United Selling Organisation Director Evgeny Agureev. He added, “The assortment consisted of standard colour rough diamonds and most of them were sold at a good premium to their opening price. We are happy with the operational dynamics of our US platform.” ALROSA plans two more auctions in New York this...

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