13 Feb
ALROSA held a media preview of a collection of large coloured polished diamonds, including unique pink, bright yellow and pink purple gems. The star of the show was a pink oval diamond weighing 14.83 carats — the largest pink diamond in the history of Russia, ALROSA said. The rough it was cut and polished from was mined in 2017 at the Ebelyakh deposit in Yakutia. The largest pink diamond mined by ALROSA prior to the recovery of this stone was 3.86 carats. “Pink diamonds along with the blue ones are considered to be the rarest and most precious of all, and the size and clarity of this specimen makes it one of the best to be discovered anywhere in the world in recent years. I am sure that this diamond will be the most expensive in the history of Russia’s gem cutting industry,” said ALROSA...
13 Feb
Paola De Luca presents an overview to begin the event
The Gem & Jewellery Export Promotion Council (GJEPC), held its annual Design Inspirations trend forecasting and knowledge sharing forum at the venue of the ongoing IIJS Signature trade show on Tuesday. GJEPC Chairman Pramod Agrawal noted that while the country boasted a rich heritage in jewellery, the global marketplace was evolving rapidly and the Indian industry had to absorb new learning and get as many insights into global emerging trends as possible in order to compete and thrive. The event was kicked off with an overview from trend forecaster  Paola De Luca, who heads The Futurist Ltd and has been the main speaker at the Design Inspiration series over the years. “The future starts now,” she said.  GIA...
13 Feb
The All India Gem and Jewellery Domestic Council (GJC) held the grand finale of the 8th edition of its National Jewellery Awards (NJA) in Mumbai on Tuesday. This year’s event honoured winners in 16 categories, including three for excellence, five for stores, three for designers and artisans and a student of the year award. Additionally, there were awards for corporate social responsibility and women’s entrepreneurship. GJC Chairman Anantha Padmanabhan commented,“We were overwhelmed to receive over 850 entries despite a challenging and volatile business environment. This shows the indomitable spirit of Indian jewellers.” Vice Chairman Shaankar Sen noted that the awards were a tribute to the talent and craftsmanship of the country’s “Make in India’ artisans, manufacturers and designers. He...
12 Feb
ALROSA announced it had sold $278.2 million worth of rough diamonds along with $3.4 million in polished in January this year. Company Deputy CEO Yury Okoemov commented, ”In January, market activity was lower than usual. After active restocking by the midstream in December 2018 (December sales were up 20 percent in a quarter-on-quarter comparison and up 46 percent year on year), January sales came lower. Sales in the diamond market are always cyclical, and apparently, we are seeing the expected correction after the peak values in previous periods.”
12 Feb
Applying physical tracers to Fura's emerald samplesfrom the Coscuez mine
Coloured gemstone miner Fura Gems Inc. announced that it has launched a pilot of the Provenance Proof Blockchain for the coloured gemstone industry, which has been developed by the Gübelin Gem Lab in association with technology company Everledger, for emeralds from its Coscuez mine in Colombia. The blockchain system, first announced in 2017, can be used in conjunction with the Gübelin Gem Lab’s Emerald Paternity Test, for which DNA-based nanoparticles that are applied to a rough emerald at the mine, act as tracers carrying information regarding provenance from the mine to the market. It has been trialled by Gemfields for its Zambian emeralds. Gübelin has now formally opened the system to the...
11 Feb
The trading floor of the Israel Diamond Exchange
A gang of thieves suspected of carrying out a diamond theft during the International Diamond Week (IDWI) at the Israel Diamond Exchange (IDE) at the end of January, were arrested a few hours after the theft. This was after the IDE’s security team immediately alerted the police and supplied a picture of one of the suspects. The gang of nine, who are suspected of stealing a suitcase containing diamonds worth tens of thousands of dollars from the IDE trading floor, were arrested the same day at the Israel-Egypt border by Israel Police and Border Control, before they were able to leave the country. IDE President Yoram Dvash said, "The rapid arrest of the suspects was facilitated by our immediate cooperation with the...
10 Feb
Having already undergone several expansions over the last few years, the 12th edition of the IIJS Signature show kicked off in Mumbai today in an even more expanded format. This year’s show features 650 gem and jewellery exhibitors along with 100 machinery exhibitors, all occupying 1,350 booths spread over 36,000 square metres. Many exhibitors said they have developed new product lines at competitive prices to engage retailers from across the country and parts of the Middle East and Asia who are looking for something fresh to get their sales year going. According to the show management, 18,000 trade visitors are expected over the 4-day show from 55 countries and 325 Indian cities. Pramod Agarwal, Chairman of the Gem & Jewellery Export Promotion Council (GJEPC), which runs the show,...
08 Feb
Eli Avidar (left) with Gaetano Cavalieri
World Jewellery Confederation CIBJO Vice President Eli Avidar has resigned his position, announcing that he plans to run for national political office during the upcoming parliamentary elections for the Israeli Knesset, which will take place on April 9. "Five years ago I had the honour and the privilege to be invited to join the CIBJO board of directors by the President Gaetano Cavalieri and was given the opportunity to serve as Vice President. In 2007 I left the Israeli Foreign Ministry, where I had served as a career diplomat, to join the diamond industry. Now 12 years later, I feel compelled to go back and serve my people, as an elected member of the Israeli Knesset." "I greatly value my time in the industry, and in...
07 Feb
Dutch Diamond Technologies announced it has created the world’s first ring that is entirely made from a lab-grown diamond. The 3,865-carat ring has been made from a 155 carat rough CVD lab-grown diamond, which was polished using laser cutting and traditional techniques into a ring with 133 facets. It has been graded by HRD Antwerp as E, VVS2, with no fluorescence, with Very Good Polish and Excellent Symmetry. It wasn’t until 2017 that it became technically possible to grow large enough mono-crystalline lab-grown diamond plates. ‘Project D’ as it is called, took a year to manufacture and was created to mark the company’s 10th anniversary. This is not the first ring to be created from a single diamond. In 2011, Swiss jeweller Shawish unveiled the world’s first wearable ring made from a...
07 Feb
CaratLane, the omni-channel Indian jewellery brand, plans a physical store expansion in the country’s metros and mini metros. CaratLane, which began as an online-only jewellery retailer, now has 50 physical stores in 20 Indian cities and offers customers its Try@Home service that allows them to try their selection of jewellery from the online offering in the comfort of their homes with no obligation to buy. The brand is now 62 percent majority-owned by the Tata industrial group’s Titan company that also owns the leading Tanishq jewellery brand. CaratLane owns 20 of its physical stores, while 30 are franchises. The omni-channel retail offering is delivering stellar results, with the company reporting a 60 to 70 percent annual sales growth. CaratLane says its expansion plans are focussed on...
07 Feb
Danish jewellery brand Pandora announced a turnaround strategy that envisages an annual cost saving of DKK 1.2 billion ($183 million) but will incur an anticipated restructuring cost of DKK 2.5 billion ($381 million) through this year and 2020. Pandora stock, which had lost 38 precent over 2018 in the wake of several profit warnings, surged 16 percent after the announcement. Still without a permanent chief executive ever since Anders Colding Friis was forced out after the first profit warning last year, Pandora, known for its mass-market charms and bracelets, is being run jointly by interim CEO Jeremy Schwartz, who was formerly the CEO of Body Shop, and recently appointed Chief Financial Officer Anders Boyer. The turnaround strategy involves cutting promotions, a move CFO Boyer says will...
07 Feb
ALROSA held its first auction of the year for special-size (over 10.8 carats) rough diamonds in Israel. A total of 92 large rough diamonds with a combined weight of 1,570 carats were sold for an aggregate $9.6 million. Firms from Israel, Russia, Hong Kong, Belgium, India, the United Arab Emirates and the United States participated in the auction. "The auction in Israel is the first in our schedule, and we are satisfied with its results. We will hold five more auctions here through to the end of this year,” said ALROSA United Sales Organisation Director Evgeny Agureev. He added, “We also continue to analyse the situation in the global diamond market and see some difficulties with demand. However, we expect the market to recover in the next two months.” ALROSA held six auctions for special...
06 Feb
Signet Jewelers Limited, which is in the midst of implementing a turnaround plan to combat sagging or static sales, announced three new agency partners to help with its ‘Path to Brilliance’ transformation initiative. The new agency hires are aimed at improving the effectiveness of its investments in advertising and marketing in support of three strategic priorities — ‘customer first’, ‘omni-channel’, and a ‘culture of agility and efficiency’. “Our newly announced agency partners will contribute to Signet’s Path to Brilliance initiatives to grow new customers, evolve to a more digital, targeted and data-driven media plan, and build a seamless omni-channel customer experience,” said Seb Hobbs, President and Chief Customer Officer.  Signet selected the agencies following a competitive bid...
06 Feb
KDE President Nam Chang Soo (left) with WFDBPresident Ernie Blom
World Federation of Diamond Bourses (WFDB) President Ernie Blom has praised the work of the WFDB-affiliated Korea Diamond Exchange (KDE) in persuading the government to abolish a 26 percent individual consumption tax on imported polished diamonds, that dates back to 1976. The South Korean government abolished the tax in December, following five years of talks and intensive work by the KDE, said bourse Chairman Nam Chang Soo. He said, “Now, South Korean diamond importers will have a simplified tax regime — a 5 percent import tax and 10 percent Value Added Tax.” We hope that the abolition of the ICT and simplified taxes will have a very positive effect on diamond jewellery sales in South Korea.” He...
05 Feb
The Meya mine in Sierra Leone
Koin International will hold two rough diamond tenders for original African productions, in Antwerp this month. Running February 11 to 14, the first tender will feature KEM (Ekapa) production from Kimberley, South Africa. This is a full run-of-mine including large single stones and fancy colours. From February 20 to 27, original productions from Meya Mining (Sierra Leone), Diamcor (South Africa), Guiter mining (Guinea) as well as Calendula and Angola F2M will be tendered. Viewings will take place by appointment in Antwerp at the offices of Koin International and Miranel BVBA.
05 Feb
Boaz Moldawsky
Boaz Moldawsky, who has served as the acting Chairman of the Israel Diamond Institute (IDI) for the past year, has been elected by IDI’s Board of Directors as its Chairman for a three-year term. The Israel Diamond Institute is a non-profit, public interest company representing all institutions involved in the Israeli Diamond Industry. IDI works to advance and strengthen the Israeli sector as a global diamond hub, through marketing, technological innovation, rough diamond sourcing and promotion of local manufacturing. Moldawsky is a second-generation diamantaire, whose family were amongst the founders of the Israel diamond industry. He has been active in public service to the industry for many years, serving as Deputy President of the Israel Diamond...
01 Feb
GJEPC Chairman Pramod Agarwal
With Indian Finance Minister Arun Jaitley undergoing medical treatment in the US, Interim Finance Minister Piyush Goyal today presented the country’s annual budget allocations as a vote-on-account measure, with the final budget allocations to be made after upcoming state elections. The government announced a consumer-friendly raft of measures that include raising the tax threshold to minimum annual earnings of Rs. 5 lakh ($7,015) and also granting tax relief to those earning up to Rs. 6.5 lakh ($9,120) per annum if they invested in provident funds and prescribed equities. The threshold for tax on rental incomes was also raised substantially. Reacting to the budget announcement, Gem & Jewellery Export Promotion Council (GJEPC)...
01 Feb
Mountain Province Diamonds Inc. announced that it will include in it its upcoming, February rough diamond sale, an exceptional quality, 60.59-carat, fancy vivid yellow rough diamond. The diamond was recovered at the Company’s Gahcho Kué Mine in October 2018.  The company’s Vice President Diamond Marketing Reid Mackie commented, “The discovery of this diamond demonstrates our ability to produce very large, high quality, fancy coloured diamonds. We are thrilled to be able to include it in our upcoming sale and present our customers with the opportunity to bid for this important piece of the mine’s history”.  Also included in the sale will be more than 50 other large, high quality white and fancy coloured rough diamonds. Viewings will take place between February 11 and 21 at the offices of...

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