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06 Aug
Coloured gemstone producer Gemfields announced that it had realised revenue of $10.89 million from an auction of predominantly commercial quality rough emerald, held in Lusaka, Zambia from July 30 to August 2 last. The emeralds were extracted by Kagem Mining Ltd in Zambia, which is 75 percent owned by Gemfields and 25 percent by the Industrial Development Corporation of Zambia. Of the 21 lots offered, 17 (81 percent) were sold at an average price of $4.21 per carat. Fully 90 percent of the carats offered were sold. Twenty-two companies participated in the auction. The specific auction mix and the exact quality of the lots offered at each auction vary in characteristics such as size, colour and clarity on account of variations in mined production and market demand. Therefore, the results...
03 Aug
The third edition of a platinum jewellery promotional effort by the Platinum Guild International (PGI) India called the ‘Season of Love’, which ran from May 16 through June 17 last, has concluded with great success, registering retail sales growth of 70 percent, the PGI said. According to the PGI, there was also a whopping 75 percent increase in retailers who participated in the campaign, which featured a digital outreach along with direct mailers, outdoor advertising and store-initiated consumer previews. Prizes for consumers were also on offer, including romantic holidays and five-star dinner experiences. A grand prize gives the winner ₹300,000 ($4,373) worth of platinum Evara jewellery. Speaking about the campaign Orra CEO Vijay Jain said, “The Season of Love has been a very rewarding...
03 Aug
ALROSA announced that it had sold the central 51.38-carat diamond in its five-stone ‘Dynasty’ collection of polished manufactured in-house from a single 179-carat rough diamond recovered from the Nyurbinskaya kimberlite pipe in Yakutia. Though it did not disclose the price fetched by the stone, ALROSA said it is the most expensive stone it has sold from its own production. The four other stones in the collection were sold at auction in November last year. The collection has fetched $10 million in total, the company said. ALROSA Chief Executive Sergey Ivanov commented, "We are happy to announce the successful sale of the whole Dynasty collection. For ALROSA it was the first experience of creating our own collection of diamonds, of a road show in different countries worldwide, and of the...
02 Aug
A still from one of the digital videos
A new campaign highlighting the value of ‘friendship’ even within the confines of a marriage has been launched by the Platinum Guild International (PGI), India, carrying the #FriendsFirst tag, to mark Friendship Day. “Our research has shown that ‘friendship’ is extremely aspirational in a couples’ relationship both before and after marriage. Finding a best friend in your partner is rare, retaining friendship in your relationship even rarer. With this campaign, we aim to encourage couples to remember and aspire to be #FriendsFirst. Mark this friendship day as your Platinum Day of Love”, said PGI India Consumer Marketing Director Sujala Martis, while talking about the campaign. Developed and conceptualized by Dentsu Webchutney...
02 Aug
The Hope is the most famous blue diamond of all
Blue diamonds, among the rarest of all coloured diamonds, form at extreme depths – approximately four times deeper than most diamonds – and may get their colour from the element boron, contained in the floors of ancient oceans carried deep into the Earth’s mantle by the movement of tectonic plates. These are the findings of new research featured on the cover of the scientific journal Nature. This was the first study to examine and identify the mineral inclusions in very rare and valuable blue diamonds. Analysing those inclusions demonstrated that the diamonds formed at great depth in the presence of sunken, or “subducted,” ancient oceanic tectonic plates. “Blue diamonds like the famous Hope diamond have intrigued...
02 Aug
Indian Minister for Commerce and Industry and Civil Aviation Suresh Prabhu(second from left) inaugurates the IGJA ceremony along with GJEPC ChairmanPramod Agarwal (second from right), GIA Managing Director for India & theMiddle East Nirupa Bhatt (right) and GJEPC Awards Panel Convener KiritBhansali (at extreme left).
Citing what he called “global trade encounter crises”, Indian Minister for Commerce and Industry and Civil Aviation Suresh Prabhu told the gem and jewellery export industry that though the country had registered a high export growth over the last six years, it needed to raise the numbers and grow at between 8 and 9 percent against last year’s 7.6 percent. The Minister was speaking at the annual India Gem & Jewellery Awards (IGJA) organised by...
01 Aug
The Voorspoed diamond mine
De Beers Group announced that the De Beers Consolidated Mines Proprietary Limited (DBCM) Board has taken the decision to proceed with the responsible closure and rehabilitation of Voorspoed Mine in South Africa’s Free State Province. The company said this decision follows an extensive, transparent and comprehensive disposal process, which involved a rigorous due diligence exercise on the bidders to acquire the mine. The disposal process was unsuccessful in identifying a suitable operator that met the specified criteria and therefore the responsible closure process will now be initiated in accordance with the company’s values and with due consideration of employees and host communities. DBCM Chief Executive Phillip Barton said, “Our...
31 Jul
De Beers today announced that it had provisionally sold $530 million worth of rough diamonds in its sixth sales cycle this year. This compares with the $576 million actually sold in Cycle 6 of 2017 and the $581 million sold in Cycle 5 of this year. De Beers CEO Bruce Cleaver said, “In the sixth sales cycle of the year, demand for De Beers rough diamonds was in line with expectations during the seasonally quieter summer period for the industry’s midstream sector.” The sales figures are an aggregate of Global Sightholder Sales as well as Auction Sales of special goods.
30 Jul
Swatch Chief Executive Nick Hayek
Switzerland’s Swatch Group, which owns the Tissot, Longines, Omega, Breguet, Hamilton, Harry Winston, Blancpain, Calvin Klein, Rado and Balmain along with the eponymous Swatch watch brands, has announced that it will no longer participate in the annual Baselworld watch and jewellery trade show, which has run for a century in Basel. Group Chief Executive Nick Hayek was quoted as saying that traditional annual trade fairs were no longer useful in a more transparent and fast-paced world. A company statement said, “Annual watch fairs, as they exist today, no longer make much sense,” adding, “this does not mean that they should disappear. But it is necessary that they reinvent themselves, responding appropriately to the current...
27 Jul
GIA also demonstrated its synthetic diamond detectors at the 2017 IIJS show
GIA India announced it will live demonstrations of the GIA iD100 gem testing device along with other laboratory and education offerings, complimentary seminars and more at the India International Jewellery Show (IIJS) that is slated to run from August 9 to 13 in Mumbai. The  GIA iD100 distinguishes natural diamonds from synthetic (HPHT and CVD) diamonds and diamond simulants in the colourless to near-colourless range, in sizes starting from 0.9 millimeters in diameter. Visitors can also learn about the GIA Melee Analysis Service and attend complimentary seminars on topics including diamonds, coloured gemstones, pearls and merchandising skills. GIA India will also conduct its Retail Sales...
26 Jul
Fura Gems Inc. announced the acquisition of yeat another ruby mining licence in Mozambique. The announcement comes hot on the heels of Fura having acquired last week, nine ruby licences in the country that gave it the country's largest ruby mining potential. Fura President and CEO Dev Shetty commented, “We are pleased to further consolidate our position in the main ruby belt of the Montepuez district of Mozambique. The merger of assets with Mustang and Regius announced last week, combined with the acquisition of this licence, now gives Fura further access to both the secondary alluvial and the primary deposit of rubies in the region.” He added, “In the last 18 months, Fura’s business has grown tremendously. We now have two important silos of colour-gemstones in our portfolio, emeralds...
26 Jul
Sarine Technologies Ltd announced that it has opened a new service centre at the Sha Wan Jewellery Park in the Panyu District of Guangzhou that will provide scanning and mapping of internal inclusions in rough diamonds with Sarine’s proprietary Galaxy technology.   The Guangzhou Galaxy service centre is the ninth, following those opened between 2010 and 2012 in India (Surat and Mumbai), Israel, Belgium, Russia, South Africa, Namibia and Botswana. This service centre is operated by D-Authority, a local business venture that has been providing Sarine with professional pre- and post-sales services for 15 years. Sarine said it is confident this new service centre will be able to offer excellent and timely rough diamond scanning, planning and additional services to the diamond industry in...
24 Jul
The Gem & Jewellery Export Promotion Council (GJEPC) said today that there has been a decline in bank finance to India’s gem and jewellery sector of at least 10 percent. This would adversely impact exports from the country, with the GJEPC estimating the export drop being 10 percent as well.  GJEPC data shows that exports of gems and jewellery from India declined 8.84 percent during April to June 2018 to $10.1 billion from $11.1 billion during the same period last year.  The GJEPC said it had taken proactive measures to help mitigate financial risks in the industry while also increasing transparency. GJEPC Chairman Pramod Agrawal said, “The Council is making all efforts to self-regulate and instill confidence amongst key stakeholders through a slew of reforms. However, the industry is...
24 Jul
WDC Acting President Stephane Fischler (second from left) andExecutive Director Marie-Chantal Kaninda (centre) in Angola
World Diamond Council (WDC) Acting President Stephane Fischler and Executive Director Marie-Chantal Kaninda traveled to Angola lastweek for a series of meetings with stakeholders involved in the Kimberley Process (KP). They made the trip at the invitation of Angolan authorities, marking the first time there has been a WDC mission to Angola outside of a formal KP meeting. The meetings are part of a larger effort by the diamond industry to raise awareness of the challenges and opportunities for African countries as part of their participation in the KP. The trip follows a meeting in Antwerp earlier this year between the WDC, the Antwerp World...
23 Jul
De Beers said it has begun to transport 200 elephants across 1,500km from its Venetia Limpopo Nature Reserve (VLNR) in South Africa to Mozambique. The operation, one of the largest elephant translocations ever recorded in South Africa, is part of a major conservation initiative to protect the welfare of wildlife in South Africa and help restore Mozambique’s elephant population. For the first phase of the project, approximately 60 elephants will be transported in July and August from the VLNR to Zinave National Park in central Mozambique. The remaining elephants will be moved to conservation areas that hold sufficient elephant carrying capacity within Mozambique from next year. De Beers is partnering with Peace Parks Foundation, a leading not-for-profit organisation focused on the...
23 Jul
ALROSA reported that its rough diamond production in the second quarter of of calendar 2018 grew 15 percent when compared with the first quarter to 8.5 million carats. This figure is, however, 18 percent lower than the production in the second quarter of 2017. Rough diamond demand during the period rose across the entire product mix, driven by both a reduction in rough diamond supply from diamond miners, ‘normalised stock levels in the mid-stream and ongoing diamond jewellery demand growth in key markets, particularly the US, Europe and China. As a result of these factors, ALROSA said, there was no traditional seasonal slack during the quarter. The company sold 6.3 million carats of gem quality rough diamonds during the second quarter — a 38 percent drop when compared to the previous...
20 Jul
ALROSA reported that after two years of work that removed 10 million cubic meters of overburden to a depth of 100 meters, it has reached the diamondiferous layer at the Zarya pipe, just outside the settlement of Aikhal in Yakutia’s Mirny district. Diamond mining operations will begin as planned next year. ALROSA said the Zarya pipe has an estimated deposit of 3.5 million carats of rough diamonds worth more than $1 billion. Production from the pipe will allow the replacement of output from the falling reserves of the nearby Komsomolskaya pipe, which is nearing the end of its productive mining life. Timofey Baishev, Deputy Head of production of Komsomolsky open pit mine, noted that the kimberlite ore at Zarya began from a depth of 20 metres under the overburden and that field infrastructure...
19 Jul
The Chidliak diamond project
De Beers Canada, has entered into an agreement to acquire 100 per cent of the outstanding securities of Peregrine Diamonds Ltd, owner of the high quality Chidliak diamond resource located in Canada’s Nunavut Territory, for a total cash consideration of approximately C$107 million (US$80.7 million). The Chidliak resource was discovered in 2008 and is located approximately 120 kilometres northeast of Iqaluit on Baffin Island. A total of 74 kimberlite pipes have been identified at Chidliak, including the CH-6 and CH-7 pipes, which are the current focus of Peregrine’s Chidliak Phase One Diamond Development programme. The programme has a total Inferred Mineral Resource in excess of 22 million carats. Peregrine’s recent Preliminary Economic...

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