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30 Apr
US Technology giant IBM announced that it has partnered with US jewellery retailer Helzberg Diamonds; global jewellery manufacturer Richline Group, which is controlled by Warren Buffet’s Berkshire Hathway; precious metals refiner Asahi Refining; precious metals supplier LeachGarner and third-party verification firm UL to launch the TrustChain Initiative, a block-chain system powered by the IBM Blockchain Platform and delivered via the IBM Cloud. According to an IBM blogpost, the TrustChain Initiative tracks and authenticates diamonds and precious metals through every stage of the supply chain as it becomes a piece of finished jewellery. It provides digital verification, physical product and process verification, and third-party oversight. The collaboration’s goal is to instil trust in the...
27 Apr
Sarine Technologies Ltd announced that Japanese firm K-Uno is the first jewellery retailer in the world to adopt the new Sarine 4Cs diamond report — the world's first artificial-intelligence based, technology driven and automated grading report. Sarine said in a press release that K-Uno announced the adoption of the grading report last week at its flagship store in the Ginza, Tokyo. It is currently being rolled out to all K-Uno stores across the country. K-Uno mentioned that the primary advantages of the Sarine report are its improved accuracy of grading, compared to manual grading labs, and the ability to view the grading reports in an interactive way on mobile phones and other devices. Sarine said that its Profile 4Cs Report adds 4Cs gradings to the other parameters already included in...
27 Apr
Trans Atlantic Gem Sales (TAGS) has announced it will be holding another rough diamond tender at the Almas Tower in Dubai from May  7 to 15. The tender, the sixth to be held at the Almas Tower, will feature original productions from both South Africa and Angola. TAGS said that while final details will soon be forthcoming from the producers, it is expecting in the region of 15,000 carats of South African goods with a value in excess of $18 million, and at least 15,000 carats of Angolan goods with a value in excess of $15 million. The South African goods fall primarily in the 3 grainers to 5-carat range, with the addition of some larger 10+ carat material. The Angolan production is in a full size range, predominantly from 0.15 to 10 carats and over. TAGS said both productions are of high...
27 Apr
The Bharat Diamond Bourse (BDB), which organised its first-ever Bharat Diamond Week, said the event exceeded its expectations. The BDB said it is already planning the next edition of the loose-diamond fair which it says will be even bigger and feature new elements. The event was inaugurated on April 23 by US Consul-General Edgard Kagan. New York Diamond Dealers Club (DDC) President Reuven Kaufman, who headed a US buyer delegation to the event, also participated in the inauguration ceremony. "This first Bharat Diamond Week more than lived up to our expectations," said BDB Vice-President Mehul Shah, who heads the Diamond Week project. "We understood early on that there was going to be great interest, and that turned out to be the case with more than 1,000 visitors from India and across the...
27 Apr
GJEPC Chairman Pramod Agarwal (right) with Vice ChairmanColin Shah
The Gem & Jewellery Export Promotion Council (GJEPC) announced that the overall exports of the Indian gem and jewellery export production industry for fiscal 2017-18 stood at $40.97 billion, a 5.06 percent drop over the $43.16 billion it exported in fiscal 2016-17. The loose cut and polished diamond segment, however, grew 4.17 percent to $23.73 billion as against the $22.78 billion registered the previous fiscal year. The segment also grew in volume terms, with exports of 34.86 million carats as against 32.21 million carats in fiscal 2016-17. Gold jewellery exports grew 10.91 percent to $9.67 billion as against the $8.72 billion the previous year. Coloured gemstone exports were also up 3.14...
25 Apr
ALROSA Chief Executive Sergey Ivanov (second from left) andhis AWDC counterpart Ari Epstein (second from right) exchangecopies of the agreement as Antwerp Mayor Bart de Wever andBelgian Ambassador to Russia Jean-Arthur Regibeau applaud.
On April 24, in the context of a mission to Russia with its partners — the City of Antwerp and Port of Antwerp — the Antwerp World Diamond Centre (AWDC) signed a new cooperation agreement with Russian diamond mining major ALROSA. The agreement includes the promotion of joint marketing initiatives and the open exchange of information.  The agreement also seals the two parties’ mutual commitment to protecting the integrity and transparency of the diamond value chain by supporting the work of the World Diamond Council (WDC) and the...
24 Apr
WDC Acting President Stephane Fischler
The World Diamond Council (WDC), an industry group focused on preventing conflict diamonds from entering the legitimate global supply chain and protecting the value of natural diamonds, today announced its support of the Organization for Economic Co-operation and Development (OECD) Due Diligence Guidance (DDG) at the Annual OECD Forum on Responsible Mineral Supply Chains. “The World Diamond Council is committed to establishing a sustainable and safe environment for mining communities, and we believe the OECD DDG assurance process is a critical factor for advancing that vision,” said WDC Acting President Stephane Fischler. Building on the Kimberley Process and along with the World Federation of Diamond Bourses, the...
24 Apr
De Beers reported that its first quarter diamond production for 2018 stood at 8.5 million carats, a 15 percent increase in a year-on-year comparison with the 7.4 million carats produced in the first quarter of 2017. Total rough diamond sales volumes in Q1 2018 were down almost 38 percent to 8.8 million carats (8.4 million carats on a consolidated basis) from two Sights, compared with 14.1 million carats (13.7 million carats on a consolidated basis) from three Sights in Q1 2017. In addition to the difference in the number of Sights over the period, Sight 1 2017 also saw an unusually strong demand for lower value goods following the effects of Indian demonetisation in Q4 2016, leading to higher than Full year production guidance remains unchanged at 34 to 36 million carats, subject to...
23 Apr
BDB President Anoop Mehta speaks at the inaugural. Also seen are(from left), Mumbai Diamond Merchants Association PresidentMahendra Gandhi, DDC President Reuven Kaufman, BDB VicePresident Mehul Shah, US Consul-General  Edgard Kagan, GJEPCChairman Pramod Agarwal and GJEPC senior representativeRussell Mehta.
The first-ever Bharat Diamond Week (BDW) got underway today at the Bharat Diamond Bourse (BDB) in Mumbai with the honours done by US Consul-General Edgard Kagan. The event is set to run through April 25. The BDW is a combination diamond buyer-seller meet with scheduled one-on-one interactions and loose diamond trade exhibition. BDB Vice President Mehul Shah, who is in charge of the event, said over 500 buyers had registered for the BDW, with some 150 of those...
21 Apr
The Diamond Empowerment Fund (DEF) announced that the government of Canada’s Northwest Territories (NWT) will receive the 2018 Diamonds Do Good Responsible Government Award and De Beers CEO Bruce Cleaver, the Diamonds Do Good Professional Advancement Award. The awards will be presented at the annual DEF gala on May 31 in Las Vegas. The NWT is home to major diamond mines including Ekati, owned by Dominion Diamond Mines; Diavik, a joint venture between Rio Tinto and Dominion; and Gahcho Kué, a joint venture between De Beers Canada and Mountain Province Diamonds. The NWT government has a robust mineral development strategy that protects the environment, enhances indigenous engagement and community capacity building, promotes sustainability and leverages a local workforce; all while fostering...
20 Apr
ALROSA’s production of rough diamonds for the first quarter of 2018 was 7.4 million carats, down 17 percent from the 8.9 million carats it produced in Q1. 2017. The miner also sold 10.1 million carats of gem-quality diamonds at an average price of $154 per carat for a total of $1.58 billion during this period. This is a drop of 8.2 percent in volume terms from the 11 million carats it sold in Q1 2017, but a 21.5 percent increase in revenue from the $1.3 billion it earned in the first quarter of last year, selling goods at an average of $117 per carat. The miner additionally sold 3.2  million carats of industrial diamonds at an average price of $8 per carat for a total of $23.7 million, which compares with the 3.1 million carats at an average of $7 per carat that it sold over the same...
19 Apr
Evgeny Agureev (second from right) and Jim Vimadalal (secondfrom  left) at the inauguration of the new office
ALROSA on today opened its representative office in Mumbai inside the Bharat Diamond Bourse (BDB). On hand for the opening ceremony were advisor to the chairman and member to the board of the Gem & Jewellery Export Promotion Council (GJEPC) Russel Mehta, BDB President Anoop Mehta and BDB Vice President Mehul Shah. ALROSA directly supplied India with rough diamonds worth almost $700 million in 2017. In the new contract period (2018-2020), the miner has signed 15 long-term contracts with diamond manufacturing companies in India — 14 for gem-quality diamonds and one for industrial goods. ALROSA currently works with more than 100 Indian companies that buy...
19 Apr
The Diamond Development Initiative (DDI), an NGO that has been leading efforts to formalise the diamond ASM sector in several parts of Africa, and De Beers today announced they have partnered to pilot a program called GemFair, which aims to create a secure and transparent route to market for ethically-sourced artisanal and small-scale mined (ASM) diamonds. GemFair will match tailored technology that enables the tracking of ASM production with demonstrable ethical standards to purchase rough diamonds from approved mine sites, while helping improve working conditions and livelihoods for those working in the sector. For the pilot, GemFair is partnering with the DDI. Miners who wish to participate in the GemFair pilot must be certified by DDI as meeting its Maendeleo Diamond Standards (MDS),...
18 Apr
More than a dozen members of the World Diamond Council (WDC) are attending the Organisation for Economic Co-operation and Development (OECD) Forum on Responsible Mineral Supply Chains, and two members will serve as panelists in a discussion about the future of diamonds. As the first mineral-based industry to introduce its own due diligence process for responsible supply chains (in conjunction with governments and under the United Nations), the diamond sector is in a unique position to offer insight and guidance, based on the success of its own Kimberley Process Certification Scheme (KPCS), which has been in place since 2003, the WDC said in a press release. “We remain supportive of efforts to broaden the scope of the KPCS mission and as such of wider due diligence requirements that we...
17 Apr
De Beers announced it had donated $250,000 to the Kiran Hospital in India’s diamond capital of Surat, to support the recently-opened facility in continuing to provide vital, accessible and high-quality healthcare to patients. A De Beers Press Release said, “The donation reflects De Beers’ commitment to helping create a sustainably better future for the communities it operates in, to leave a positive legacy that lasts beyond diamonds.” Opened in 2017, the super specialty Kiran Hospital is a not-for-profit facility that provides a comprehensive range of health and medical services, treating patients from all sections of society and from across the state of Gujarat, as well as India more broadly. De Beers’ donation complements the donations and support of many other diamond businesses from...
17 Apr
De Beers announced that it had provisionally sold $520 million in rough diamonds through its third sales cycle of 2018. This compares with the $586 million actually sold in the third sales cycle of 2017. The miner said that its actual rough diamond sales figures for the year’s second cycle now stood at $563 million. De Beers CEO Bruce Cleaver said, “While the second quarter of the year is traditionally a seasonally slower period, we continued to see good rough diamond demand in the third sales cycle of 2018 as diamond businesses have focused on restocking following healthy consumer demand for diamond jewellery in the US and China.”
17 Apr
Leo Schachter Diamonds said in a press release that Rosy Blue had become a minority investor in the company. The transaction, anticipated to close soon, will mark a culmination of over thirty years of a trading relationship built between the two groups, the company said. Leo Schachter will continue to operate independently under the Schachter family’s majority ownership, by its principals and the leadership of the current executive team.  Leo Schachter and Rosy Blue will, however, seek to create operational efficiencies by tapping into each other’s vast processing and administrative infrastructure around the globe with a view to delivering even better value to their respective clientele.  Elliot Tannenbaum, Principal at Leo Schachter, noted, “From its inception in the diamond business 65...
17 Apr
The Bunder mine, while it was being developed by Rio Tinto
Coloured gemstone producer Fura Gems Inc. today announced that it is “aggressively” looking at acquiring the Bunder diamond mine in India, that was explored and developed by Rio Tinto, but given up after having spent in excess of $90 million when the project ran into environmental hurdles. It is also looking at acquiring coloured gemstone mining projects in the country. While fully intending to go ahead with the acquisition alone, Fura said it was also in advanced talks with a possible joint-venture partner. While the state government of Madhya Pradesh had indicated that it intended to tender out the Bunder mine to interested parties with all environmental and forest clearances in place, Fura President...

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