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17 Sep
Operations at Petra's Finsch mine in South Africa
Petra Diamonds Limited announced its preliminary unaudited results for fiscal 2018 — year ended June 30 — reporting an net loss of $203.1 million when the Kimberley Ekapa Mining (KEM) joint-venture (which it exited in July this year) is accounted for. Petra had reported a net profit of $20.7 million in 2017. Joint venture partner Ekapa Mining has agreed to acquire Petra’s 75.9 percent share in KEM for $22 million — to be paid in 24 monthly instalments starting in January 2019. Excluding the KEM joint venture, Petra reported revenue of $495.3 million, up 25 percent from the $394.8 million achieved in 2017. Pre-tax earnings, at $195.4  million, were 37 percent more than the $142.6 million in 2017. Profit from mining...
15 Sep
The De Beers-owned International Institute of Diamond Grading & Research (IIDGR) its SYNTHdetect XL machine, an advanced version of the SYNTHdetect synthetic screening device launched last year, at the Hong Kong Jewellery & Gem Fair. De Beers said the new machine has a larger base unit that allows multiple volumes of jewellery to be screened simultaneously, providing even greater efficiencies for users. It also provides the opportunity to now scan larger necklaces, multiple solitaire rings and multiple bracelets, while retaining the ease of use of the original device. IIDGR President Jonathan Kendall said, “We’re delighted to be introducing the next innovation in IIDGR’s range of industry-leading synthetic screening devices. Using the same revolutionary technology as the original...
14 Sep
ALROSA has launched a special auction for polished coloured diamonds at the ongoing Hong Kong Jewellery & Gem Fair. Called the ‘True Colours’ auction, the company termed this a stepping-stone of a new strategy to become the world leader in the production of polished coloured diamonds. The auction will take place on September 19. “ALROSA's polished branch now focuses on the processing of large and coloured diamonds and their subsequent sales. We are the world's largest producer of diamonds, and that gives reason to believe that we are also ahead in terms of coloured rough diamond production. Today, ALROSA produces at least 7 thousand carats of coloured diamonds per year. We have all it takes to dominate the market of coloured diamonds. The collection presented in Hong Kong demonstrates...
14 Sep
The Chidliak project
De Beers Canada has completed the previously announced acquisition of Peregrine Diamonds Ltd for C$107 million (US$82.36 million), a De Beers Group press release stated. The acquisition includes the high quality Chidliak diamond resource located in Canada’s Nunavut Territory and other properties elsewhere in Nunavut and the Northwest Territories. The transaction, which was announced on July 19 this year, was approved by Peregrine’s security holders on August 31 and by the Supreme Court of British Columbia in its final order dated September 10. The common shares of Peregrine have been approved for delisting from the Toronto Stock Exchange and will be delisted at the end of trading on September 14.  De Beers CEO Bruce Cleaver said, “We are very...
14 Sep
ALROSA announced that its auction of ‘special size’ diamonds (weighing over 10.8 carats), which took place in Israel, garnered $15.6 million. The company sold 166 gem-quality lots with total weight of 2,611 carats. Firms from Russia, Israel, Belgium, India, Hong Kong, UAE and the US participated in the auction, with 45 companies making winning bids. “The auction ended with good results — final bids were 1.5 times the initial price. This indicates a stable demand for our products, not only in Israel, where the auction took place, but also in other major diamond trade centres. ALROSA has this year, held five auctions in Israeli to sell large-size rough diamonds, realising about $70 million,” said USO ALROSA Director Evgeny Agureev. Under Russian law, diamonds weighing over 10.8 carats have...
14 Sep
Eran Zini
The Israel Diamond Exchange (IDE) has appointed Eran Zini as its new Managing Director. Zini has a rich background in management positions in business and government. After having served as senior advisor to Israel’s Minister of Justice, he joined Israeli pioneering electric car start-up Better Place, as head of government relations and regulation. He then joined a government company devoted to vocational rehabilitation for people with disabilities, as head of operations, and a year later was promoted to Managing Director, a position he held until he was recruited by IDE. Zini holds a BA in Political Science and International Relations from the Hebrew University of Jerusalem. He holds an MBA with a specialisation in international management from the...
13 Sep
The Millennial and Gen Z generations combined accounted for two-thirds of global diamond jewellery sales in 2017, as diamond jewellery demand reached a new record high of $82 billion, according to data published today by De Beers Group in its latest Diamond Insight Report. Millennials, those people currently aged 21 to 39, represent 29 per cent of the world’s population and are the current largest group of diamond consumers. They accounted for almost 60 per cent of diamond jewellery demand in the US in 2017 and nearly 80 per cent in China. Gen Z, those currently aged up to 20, is an even larger consumer generation , representing 35 per cent of the world’s population and will come of age as diamond consumers over the coming decades. Despite the generation being a long way from financial...
13 Sep
The DDI's mobile schools have brought education to artisanalmining communities
The Diamond Development Initiative (DDI) announced the continuation of its partnership with Brilliant Earth, the San Francisco-based jewellery company that sells responsibly sourced jewellery, to bring education to artisanal mining communities. Brilliant Earth is now supporting DDI's education initiatives through its High School Support Program, on top of vocational training. This offers crucial services for youth and alternative education for women and men, outside of the mining world. "We've seen interest in many industries from within our communities, including textiles, carpentry, metalwork and hairdressing." said DDI Executive Director Dorothée Gizenga, adding, "we see that helping...
13 Sep
The 2.28-carat Argyle Muse
Rio Tinto is showcasing its iconic Argyle Pink Diamonds Tender to connoisseurs and collectors from across Asia, along with a one-of-a-kind pink diamond and emerald necklace during a world exclusive preview in Hong Kong. Headlining the 2018 collection of 63 pink, red and violet diamonds is The Argyle Muse, a 2.28 carat polished oval diamond, the largest purplish red diamond ever offered at tender. The Argyle Muse originated from a 7.51-carat rough diamond that yielded a second purplish red diamond for inclusion in the 2018 tender. Rio Tinto Diamonds global marketing director Josephine Johnson said “We are delighted to be in Hong Kong with this highly sought after collection of rare pink, red and violet diamonds. We have seen, and continue...
13 Sep
Sarine Technologies Ltd is showcasing its Diamond Journey system, that tracks a diamond from the mine all the way through the process pipeline, at the Hong Kong Jewellery & Gem Fair. The company says the system using technology and data science as against self-declaration and auditing to provide information as to the diamond’s source, including whether it is ethically sourced, and whether it is new or recycled. Sarine says the system provides: Tracking capabilities across multiple manufacturers, enabling efficient sourcing. Authentication by the AI-based Sarine Technology Lab, available as an optional part of the Sarine Profile report. An interactive display of the diamond throughout the manufacturing process, from original rough diamond through all the stages of planning and cutting...
12 Sep
A special report of the World Jewellery Confederation (CIBJO) Ethics Commission authored by Tiffany Stevens and Sara Yood addresses the issue of why the newly revised Guides  for the Jewellery, Precious Metals and Pewter Industries issued in July by the US Federal Trade Commission (FTC) seem to disregard harmonisation efforts made by the international trade. The CIBJO report notes, “The FTC does not especially seek to harmonise global trade standards, but instead envisions its purpose as consumer protection in the United States.” The report, however states, ”The FTC tries to harmonise its guidance with international standards when possible, but it must base its guidance on Section 5 of the FTC Act. In contrast, many international standards are developed through industry consensus-building...
12 Sep
The Murowa diamond mine in Zimbabwe
The Diamond Producers Association (DPA) said in a press release that RZ Murowa Holdings Ltd., majority owner of Murowa Diamonds Private Ltd., which in turn operates the Murowa diamond mine in Zimbabwe, has joined the Diamond Producers Association (DPA) as of July 1.  The Murowa mine was purchased from Rio Tinto in 2015 and expanded significantly under its new leadership. Murowa Diamonds COO Manit Shah will join the DPA board of directors this month. Shah has considerable experience driving business performance and managing international operations, the DPA said. DPA Chief Executive Jean-Marc Lieberherr said, “We are delighted to welcome RZ Murowa to the DPA and Manit to our board of directors.  The DPA will continue to play a...
12 Sep
The Indian gem and jewellery industry is launching its international promotional campaign at the Hong Kong Jewellery & Gem Fair, said the Gem & Jewellery Export Promotion Council (GJEPC). GJEPC Chairman Pramod Agarwal commented, “Hong Kong has been India’s largest export market, with 33 percent of the country’s $42 billion in gem and jewellery exports directed there. India exported $10 billion in polished diamonds and $973.4 million in gold jewellery to Hong Kong. It has also become a promising for Indian coloured gemstone exports, while Indian jewellery exports to Hong Kong are on the rise.” GJEPC Vice Chairman Colin Shah noted, “One can’t think of a better platform. The Hong Kong show witnesses a convergence of leading gem and jewellery players from across the globe.” The GJEPC...
12 Sep
Jonathan Kendall with Sun Fengmin
The De Beers-owned International Institute of Diamond Grading and Research (IIDGR) announced that it will partner with the National Gemstone Testing Centre (NGTC), China’s leading authority in the testing and inspection of gems and jewellery, to extend the accessibility of IIDGR’s diamond education courses to students in China. The partnership will officially launch in early 2019 with students being able to undertake IIDGR’s education courses via a mix of online training, as well as laboratory-based workshops. Courses will be delivered by local tutors in the local language, in partnership with IIDGR’s diamond education experts. Teaching subjects will include: Understanding the diamond pipeline from start to finish to allow...
12 Sep
Slightly purplish zone in a Mozambique ruby
The Swiss Gemmological Institute (SSEF) has said it has worked on techniques to detect rubies from the Montepuez deposit in Mozambique that have been heat-treated at temperatures under 1,000℃. Only a few of these rubies display the characteristics of heat treatment that help gemologists detect them. An SSEF press release noted that since their discovery in early 2009, the ruby deposits near Montepuez in Mozambique have produced an impressive number of exceptional-quality stones, including iconic gems such as the Rhino Ruby (22.04 carats), the Scarlet Drop (15.95 carats) and the Eyes of the Dragon (a pair of rubies weighing 11.23 and 10.70 carats), all of which the lab has analysed. But from the very beginning, there has...
11 Sep
De Beers announced that it had provisionally sold $505 million worth of rough diamonds in its seventh sales cycle of this year. This compares with the $507 million actually sold in the seventh sales cycle of 2017. De Beers also said that its actual sales figures for the sixth cycle this year now stand at $533 million.  De Beers CEO Bruce Cleaver said, “De Beers Group provided Sightholders with the opportunity to re-phase the allocation of some smaller, lower value rough diamonds. Demand remains stable ahead of the September Hong Kong Jewellery & Gem Fair.” Cleaver was referring to the fact that De Beers had allowed Sightholders to leave smaller and lower value goods on the table during the sixth sales cycle.
10 Sep
ALROSA reported that it sold rough diamonds worth $283.2 million in August this year. It also sold $11.7 million in polished, achieving a total of $294.9 million in sales for the month — a 14 percent growth in a year-on-year comparison. The Russian miner said its rough diamond sales total for January-August 2018 stood at $3.26 billion, while it also sold $67 million in polished over the period. “Despite the traditional August market slowdown, sales of both rough and polished diamonds were much higher than a year before. Positive trends in diamond jewellery sales, observed since the beginning of the year, have contributed to stable demand for almost the entire range of our products, especially for high-price rough diamonds,” said ALROSA Deputy CEO for Sales Yury Okoemov. He added, “...
10 Sep
Jerome Lambert
Luxury group Richemont has appointed Jerome Lambert, till now the group’s chief operating officer, as the new CEO. He is tasked with transitioning the group’s brands, including Cartier, Van Cleef & Arpels, IWC, Piaget, Jaeger-LeCoultre, Montblance and Dunhill into the digital arena. Richemont had done away with the CEO role six months ago when Richard Lepeu retired. Chairman Johann Rupert managed the group through a senior executive committee. Observers said that now, with the group showing a 10 percent rise in sales over the five months to August 31, particularly in Asia Pacific and the Americas, Rupert feels confident enough to hand over the reins to a CEO. The group’s watch lines are reportedly the focus of a drive to develop a digital...

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