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08 May
Jean-Marc Lieberherr at the DPA townhall meeting
Though the relevance of the diamond and the message that the Diamond Producers Association (DPA) wanted to convey is different in different geographic markets, the idea of something that signifies authenticity resonates with test audiences all around the globe, the Indian gem and jewellery industry was told by DPA Chief Executive Jean-Marc Lieberherr and DPA India Head Richa Singh, at the Bharat Diamond Bourse (BDB) today. Lieberherr and Singh were speaking at a Townhall meeting arranged by the Gem & Jewellery Export Promotion Council (GJEPC). While US audiences didn’t think the idea of something lasting forever gelled with what was evident to them in their lives, the idea that something could signify the...
08 May
Fura Gems Inc. announced the recovery of a 25.97-carat rough emerald at its Coscuez emerald mine in Boyacá, Colombia. The company classified the stone as rare and exceptional due due to its size, colour saturation and clarity.  The discovery was made as part of an ongoing bulk sampling program that commenced in late March this year. The emerald has been named the ‘ÄRE Emerald’ after a figure in ancient Colombian mythology, responsible for the creation of the primary sources of emeralds in Colombia’s Boyacá region and the Fura and Tena mountains, as well as the Rio Minero river.  “We are thrilled with the discovery of this exceptional emerald in these very early stages of our bulk sampling program. The results of this program so far have well exceeded the expectations of our highly...
08 May
CIBJO, the World Jewellery Confederation, has announced the establishment of an industry-wide working committee, which will be charged with formulating responsible sourcing guidelines specifically for the jewellery, gem and precious metals sectors. The new body was created by a decision of the CIBJO board of directors in March this year, following board approval of a draft responsible sourcing guidelines document. The guidelines, which when ratified will have the status of a CIBJO Blue Book, are intended to provide a general framework for responsible sourcing practices, serving as a roadmap for all industry participants. The guidelines will be voluntary recommendations for members of the sector, and will not constitute a standard or compliance mechanism by CIBJO. This means that members...
07 May
The second edition of the CARAT+ diamond industry trade show in Antwerp opened with visitor traffic of 2,400, according to a statement issued by Event Director Filip Van Laere and Commercial Director Dirk Blommaert. As a reference point, last year’s inaugural show saw more than 3,000 visitors and featured 130 exhibitors. The inaugural day events included a keynote speech from Holition CEO Jonathan Chippindale, followed by the results of a three-day Hack4Diamonds event, hosted by the Antwerp World Diamond Centre (AWDC) and Junction. The CARAT+ Night evening event was headlined by actress Elizabeth Hurley and featured a fleet of vintage cars driving through the show floor.
07 May
Aviel Elia
The Israel Diamond Institute (IDI) has appointed Aviel Elia as its new Managing Director. He replaces Eli Avidar, who joined the IDI in 2007 and successfully served in this position, with a brief hiatus, until now.   Elia, an attorney, has served as Legal Adviser and Company Secretary of IDI since 2013. As a key member of IDI’s management team, Elia has been involved in developing company strategy and negotiating all critical company transactions. He has been responsible for many aspects of corporate and operational management, including budgets, regulatory processes and implementation, and has represented the institute in dealings with government and official bodies.   IDI Chairman Boaz Moldawsky said, “I am very pleased that Aviel Elia has agreed to...
07 May
Ahmed bin Sulayem (second from left) with members ofthe new board
The Dubai Diamond Exchange (DDE), a platform of the Dubai Multi Commodities Centre (DMCC), and an affiliate of the World Federation of Diamond Bourses (WFDB), has elected its new board of directors with DMCC Executive Chairman Ahmed Bin Sulayem as its chairman. “The Dubai Diamond Exchange has rapidly grown to a focal point for the global diamond trade with over 1,000 members and monthly tenders further connecting producers and buyers, fuelling further growth. We welcome the newly elect Board of Directors to the DDE who will bring in fresh views and expertise to further boost our key strategic goals, particularly around rough and polished diamond tenders, to elevate our diamond marketplace for the...
04 May
A group of South African gold mining companies fighting a class action suit brought by mineworkers who contracted lung diseases including silicosis and tuberculosis as a result of working in the mines, have reached a settlement deal for 5 billion rand ($390 million) — an amount they had already set aside earlier. The agreement, which comes after three years of negotiations and is the first class action settlement of its kind in South Africa, places no limit on the number of potential claimants entitled to treatment or compensation and the payout could potentially be worth substantially more. The settlement between the workers and the mining companies — Harmony Gold, Gold Fields, AngloGold Ashanti, Sibanye Gold, African Rainbow Minerals and Anglo American — who had formed the Occupational...
04 May
ALROSA’s supervisory board has recommended a dividend payment of RUB 38.59 billion ($610 million) for 2017. This is 50 percent of the miner’s net profit for the year and amounts to RUB 5.24 (8¢) per share.  The board met to discuss a number of issues including the preparation of a voter’s list for the company’s annual general meeting, scheduled to take place on June 26. ALROSA also had paid out 50 percent of its profit as dividend in 2016, the payment amounting to RUB 8.93 (14¢) per share.
03 May
ALROSA announced that it’s rough diamond sales arm, the United Selling Organisation (USO), had sold 101 large diamonds (over 10.8 carats each) with a total weight of 1,751.1 carats for $14.8 million at its Vladivostok rough diamond auction from April 16 to 27. "We invited 86 companies from the world’s main diamond trading hubs, including Hong Kong, Belgium, Israel, India, to our Vladivostok auction. Thirty-three companies made winning bids. The auction had a very good results, confirming high demand for this category of rough diamonds,” said USO Director Evgeny Agureev.
03 May
Coloured gemstone producer Fura Gems has appointed Toronto-based Watts, Griffis and McOuat Limited (WGM), an independent firm of geological and mining consultants, to ensure the disclosure of all existing data, and proposed work and plans for its Coscuez emerald mine in Colombia are compliant with Canadian National Instrument 43-101 (NI 43-101) and the Council of the Canadian Institute of Mining, Metallurgy and Petroleum standards and definitions and Best Practices Guidelines.  Fura said it intends to work with WGM to publish a maiden NI 43-101 mineral resource estimate for the Coscuez mine. The important first step in this process, a site visit to the mine by WGM, was completed in mid-April. Fura will continue to work with WGM to provide further insight into the Coscuez mine, including...
03 May
Signet Jewelers, which is in the middle of an aggressive restructuring following a poor financial performance in 2017, announced that in keeping with its plan to fully outsource its consumer credit portfolio, it had exercised its option to appoint a minority purchaser under its non-prime receivables purchase agreement with investment funds managed by CarVal Investors. Signet said that Castlelake L.P., a global alternative investment firm with significant specialty finance expertise, was appointed the minority purchaser. At closing, investment funds managed by CarVal Investors will purchase the non-prime receivables arising from 70 percent of Signet’s existing accounts and funds managed by Castlelake will purchase the remaining 30 percent. This agreement diversifies Signet’s non-prime...
03 May
Seen at the panel discussion are (from left) Mike Asscher,Rita Almeida and Michael Wainwright,
The inaugural London Jewellery Career Fair of the Gemological Institute of America (GIA) at the Goldsmiths’ Centre on April 23, saw more than 200 gem and jewellery stakeholders  participating. The event opened with a panel discussion, followed by one-on-one career coaching with industry experts and networking with recruiters looking to fill more than 50 positions with industry professionals. Mehdi Saadian, director of GIA’s London school, moderated the panel discussion titled Job Success in Today’s Market, which featured comprehensive advice from Royal Asscher Vice President Mike Asscher; Swarovski Vice President of Strategy and Business Development Rita Almeida and...
03 May
Signet Jewelers released its 2017 corporate social responsibility (CSR) report. Among its significant achievements, the jewellery retail major listed the fact that: 70 percent of Signet’s field leadership are women. 42 percent of senior management (VP and above) are women, as is 50 percent of the Signet Board of Directors. Signet leads the industry as one of four US companies to have reported a conflict-free gold supply chain for four consecutive years to the SEC, as verified through independent audits. Signet was ranked the No.1 jewellery company for its responsible sourcing practices by The Enough Project. The report also notes that as far as environmental responsibility is concerned, Signet reduced its energy consumption by 2 percent and achieved a 5.3...
02 May
India’s Gem & Jewellery Export Promotion Council (GJEPC) announced that it will collaborate with leading banks and release a white paper in a Banking Summit on May 11 in Mumbai. The initiative comes in the wake of a major tightening of lending norms following the Punjab National Bank fraud case of nearly $2 billion involving diamantaires and jewellers Mehul Choksi and Nirav Modi. The GJEPC said the paper will aim to address critical banking issues like the assessment of credit limits, collateral security, related party transactions, inventory valuation and subsidiary financing guidelines, and is aimed at mitigating the concerns of the key stakeholders of the industry that has been hit by the recent fraud.  The white paper titled “Diamond Financing 2018 — New Challenges”, compiled by...
02 May
The 2018 World Diamond Congress, the official forum of the general assemblies of the World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association (IDMA), will be held in Tel Aviv from June 19 to 21 at the Tel Aviv Hilton. In keeping with Israel’s focus on innovation and its reputation as ‘start-up nation’, this year’s congress will highlight the role of technology in advancing the diamond industry.  The program will focus on how technology is contributing to the world diamond industry today and in the future. It will include a presentation by Sarine, as well as a talk by Carats.io, which is issuing the CARAT digital token in partnership with the Israel Diamond Exchange, and creating the first-ever viable secondary market for diamond commerce. Moreover...
02 May
The London Diamond Bourse has announced that following on from its AGM, Vice President Alan Cohen has been named as President of the London Diamond Bourse, succeeding Menachem Prager.  “We are pleased to receive Alan as our new president and I believe he will be an effective advocate for the UK’s diamond industry both at home and abroad,” said COO Victoria McKay. “His natural gravitas along with his industry experience make him a valuable asset.”  Cohen, who started his career in diamonds in 1971 when he trained as a rough and polished diamond sorter, has been a member of the London Diamond Bourse since 1976 and took over the role of vice president two years ago. During his professional journey he has worked in rough and polished diamond markets in the United Kingdom, Africa and Russia...
02 May
The CARAT+ trade show has announced that a polished diamond tender by Bonas & Co. will take place from May 6 to 8 at the Antwerp Expo. The tender will feature 163 lots with a total weight of more than 1,700 carats. Of these lots, 133 are GIA-certified stones, while the remaining 30 are parcels of white diamonds.  Highlights include 14 fancy-colour diamonds and 119 white diamonds, with weights ranging from 1 to 5 carats. Two diamonds in the tender are over 10 carats. Parcels in the tender feature diamonds from +11.5 to 90 points and up.  CARAT+ event director, Filip Van Laere, commented, “We are proud to welcome Bonas to CARAT+ 2018 and we hope our exhibitors and visitors alike will take the time to explore the diamonds available in the tender.”
02 May
The American Gem Society (AGS) will receive a $50,000 grant from the Gemological Institute of America (GIA) to fund awards for GIA education for AGS members. With this grant, GIA’s financial support for the AGS in 2018 is now nearly $150,000. Announcing the grant at the Robert M. Shipley Award luncheon during the recent AGS Conclave in Nashville, Tennessee, GIA President and CEO Susan Jacques said, “We are thrilled to be able to support AGS with this education grant. Education and certification are the core competencies of our closely related organisations and they are the keys to helping jewellers reach success.” Jacques continued, “Through our closely aligned missions, AGS and GIA protect consumers and ensure their trust in gems and jewellery.” Katherine Bodoh, CEO of the American Gem...

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