25 Apr
ALROSA’s board recommended a dividend of RUB 30.3 billion ($470 million) for the second half of fiscal 2018. This is 100 percent of the group’s free cash flow for the period. With this, ALROSA’s total dividend payouts for fiscal 2018 now stand at RUB 73.9 billion ($1.15 billion). According to ALROSA, the payout, which will take place on July 15 this year, is an all-time record. According to International Financial Reporting Standards (IFRS) ALROSA’s free cash flow for fiscal 2018 amounted to RUB 92.3 billion ($1.43 billion), while net profit stood at RUB 90.4 billion ($1.4 billion). ALROSA paid a dividend of RUB 38.6 billion ($599 million) or 50 percent of its IFRS net profit in fiscal 2017.
24 Apr
GemFair, a De Beers pilot project that aims to create a secure and transparent route to market for ethically sourced artisanal and small-scale mined (ASM) diamonds, is scaling up its operations in Sierra Leone to give more miners the opportunity to benefit from the opportunities the programme offers. The GemFair pilot provides ASM diamond miners with access to De Beers’ distribution channel, while seeking to improve ethical standards, working conditions and value for miners within the sector. The initiative has partnered with the Diamond Development Initiative (DDI), an NGO that has been instrumental in helping to formalise the diamond ASM sector in Africa. Following the launch of the pilot, where GemFair worked with 16 mine sites in Sierra Leone, the pilot has been extended in the past...
24 Apr
CIBJO President Gaetano Cavalieri (centre) addressingthe OECD Mineral Supply Chain Forum
Speaking in Paris on Tuesday to a plenary session of the 13th Forum on Responsible Mineral Supply Chains of the Organisation for Economic Co-operation and Development (OECD), CIBJO President Gaetano Cavalieri outlined a comprehensive plan for promoting responsible sourcing practices throughout the jewellery, gemstone and precious metals sectors. The plan includes the release last January of CIBJO's new Responsible Sourcing Blue Book, and an online platform that will provide a set of of dedicated due diligence tools free of charge to the industry. In his presentation, the CIBJO president pointed to factors that moulded CIBJO's strategic approach. The greater jewellery industry...
23 Apr
The plant at ALROSA's International kimberlite pipe
ALROSA said it had extracted a light yellow 118.91-carat diamond at its International kimberlite pipe in its Mirny mining and processing division that includes the Mir mine, on April 16. The stone is largest uncovered at the deposit in the last two years. Previously, a 109.61-carat diamond was extracted at the mine in the summer of 2017. As the stone was unearthed on the eve of the start of mining operations at ALROSA’s new Zarya pipe, the company says it is considering naming it after the latter. ALROSA United Selling Organisation Director Evgeny Agureev commented, “This crystal is unique as it has a large clean area despite inclusions in the centre. This makes it a gem-quality diamond. Well-known hallmarks of...
23 Apr
Trans Atlantic Gem Sales (TAGS) announced it will be holding a rough diamond tender at the Dubai Diamond Exchange in the Almas Tower in Dubai from May 7 to 14. Two regular productions from South Africa and Angola will again be presented. According to TAGS, all materials contain a significant number of large single stones and exceptional specials and are of high quality and high colour. TAGS are expecting in the region of 30,000 carats of South African goods and 25,000 carats of Angolan goods across a full range of sizes. TAGS said the goods should have a combined value in excess of $40 million. However, final details will soon be forthcoming from the producers.
23 Apr
Rio Tinto announced that its Argyle diamond mine has produced one of the largest gem quality white diamonds in its 35-year history. The 28.84 carat gem quality white diamond was recovered from the east Kimberley mine in March this year.  Named the Argyle Octavia in recognition of its beautiful octahedral shape, this rough diamond will be sold by tender in Antwerp later this year.  Rio Tinto Copper and Diamonds Group Chief Executive Arnaud Soirat said, “We are delighted with this discovery which is a testament to the extraordinary Argyle orebody that continues to deliver these miracles of nature, even as it nears the end of mine life.”  Rio Tinto’s Argyle diamond mine, operating since 1983, is known as the world’s largest coloured diamond mine, with a much more sporadic production of large...
23 Apr
ALROSA has decided to take its Aikhal underground diamond mine deeper, approving stripping and mining operations to continue further from the current 100 metre level all the way down to 400 metres. ALROSA said the deepening of the mine would involve an outlay of RUB 10 billion ($157 million). The project will extend the mine’s life to 2044 and add an estimated 20 million carats to ALROSA’s projected output. It will also enable the miner to maintain an annual production level of 500 thousand tons of ore up to 2044. Originally, commercial resources amounted to 6.2 million tons of ore with the mine’s productive life projected at being up to 2035. Aikhal Mining and Processing Division Director Evgeny Denisov commented, “The project is also attractive due to the fact that it needs no major re-...
22 Apr
Vancouver-based Newmont Mining has completed its acquisition of Canada’s Goldcorp for $10 billion, creating the world’s single largest gold producer by market value, output and reserves. The new mining powerhouse, with mining assets in the Americas, Australia and Ghana, is projected at producing between 6- and 7 million ounces of gold annually for the next decade and more. Newmont’s acquisition of Goldcorp was interrupted recently when rival Barrick Gold launched a hostile takeover bid for Newmont in February this year. The attempted takeover, aimed at creating synergies between the two firms’ adjacent mining operations in Nevada would have made Barrick the world’s single largest gold producer. The bid was, however withdrawn and Barrick and Newmont signed a joint-venture agreement in...
22 Apr
Nancy Liu
De Beers announced that Nancy Liu will become the new Forevermark CEO, stepping up from her current role as COO and taking over the day to day responsibility for the group’s diamond brand. De Beers Executive Vice-President of Consumer & Brands Stephen Lussier will continue to oversee the strategic role Forevermark plays within the group’s brand portfolio as Forevermark Chairman. However, De Beers said that by stepping away from the day to day accountability for Forevermark, Lussier will be able to increase his focus on shaping De Beers Group’s strategy at the consumer level. Lussier commented, “This is a moment of great opportunity for diamonds. As symbols of nature, uniqueness and positive social impact, they have huge potential to inspire consumers...
20 Apr
The Gemological Institute of America (GIA) has appointed Shahdeh Ammadi to the newly-created position of director of institute relations. Formerly director of alumni relations and annual giving at the Columbia University Graduate School of Architecture, Planning and Preservation (GSAPP) in New York, Ammadi will oversee the Institute’s global alumni program, the GemKids program for young, aspiring gemologists as well as guest services at GIA’s Carlsbad headquarters. “The more than 130,000 active GIA alumni in 65 chapters around the world are important ambassadors for our Institute and help to fulfil our mission to ensure the public trust in gems and jewellery,” said GIA President and CEO Susan Jacques.  Based in Carlsbad, California and reporting to Vice President of Education and Chief...
20 Apr
Petra Diamonds announced it had on Thursday, recovered a 209.9-carat, D colour, Type II gem quality diamond at its Cullinan diamond mine. This is the third larger-than-100-carat Type II D colour gem quality diamond recovered by Petra since March 2019, and the fourth such stone in the current financial year. The company said that this most recent recovery again demonstrates the prevalence of these types of stones in the Cullinan orebody. There has been an improved incidence of large and high-value stones as its C-Cut Phase 1 block cave progresses across the footprint. The recovery also demonstrates the ability of the mine’s plant to recover the full spectrum of diamonds. Petra also confirmed that this stone, along with ’The Legacy’, the 425-carat, D colour, Type IIa diamond recovered from...
18 Apr
The orange-pink diamond ring will headline the sale
Auction house Bonhams announced that its upcoming sale in New York on May 1 will be headlined by a 12.62-carat fancy orange-pink diamond ring estimated at between $1.5- and $2 million. The sale will also feature a ring featuring a 15.23-carat cushion-shaped Kashmir sapphire, estimated at $1.28-$1.78 million; a fancy deep yellow brown diamond pendant, weighing 24.23 carats, estimated at $200,000-$300,000; an oval-shaped brilliant-cut diamond, weighing 10.05 carats, estimated at $200,000-$250,000 and an emerald and diamond ring of bombé design estimated at $60,000-$100,000. The auction will also feature signed jewellery including creations by Cartier, Harry Winston, Tiffany & Co., and Van Cleef & Arpels....
18 Apr
ALROSA announced it had initiated diamond mining at its new Zarya pipe located in the operational area of its existing Aikhal mine. The new deposit is expected to have a productive life in excess of 10 years. ALROSA said it had spent RUB 12 billion ($188 million) in developing the pipe. Its major advantage was that since it was located just 3 kilometres from the existing Aikhal mine, it required no new plant and processing machinery. The company said the new deposit will compensate for the declining production from its Komsomolsky open-pit mine, which is also located within the Aikhal operational zone. The Aikhal mine’s operational zone, which employs 4,500 personnel and also includes the Yubileyny pipe, accounts for 30 percent of ALROSA’s production. In 2018, the zone contributed almost...
17 Apr
The Okavango Diamond Company (ODC), the rough diamond marketing arm of the Botswana government that sells the latter’s 15 percent share of Debswana production, has showcased a 20.46-carat diamond graded by the GIA as being an oval brilliant Type IIb, Fancy Deep Blue of VVS2 clarity. The stone was cut from a 41.11-carat rough stone unearthed at Botswana’s Orapa mine. It has been named the Okavango Blue by the company in recognition of Botswana’s own environmental natural treasure and world heritage site, the Okavango delta. It is also seen as a symbol of the company. The stone will be showcased over the coming months to promote Botswana as a leading global producer of natural ethical diamonds with an anticipated sale toward the end of the year. ODC Managing Director Marcus ter Haar...
17 Apr
Signet Jewelers, which had, in February this year, sought voluntary staff cuts after a disappointing holiday season, has now announced that it will lay off some employees in Akron as not enough personnel had signed up for what it calls the Voluntary Transition Program or VTP. The company, which reported an operating loss of $765 million on revenue of 6.25 billion in fiscal 2019 and is currently implementing a turnaround plan that involves the closure of 150 retail stores and the limiting of new store openings this year, had indicated that it would resort to layoffs if there were not enough sign-ups to the VTP. Signet Vice President for Corporate Affairs David Bouffard was quoted as saying, “We were hopeful that we could achieve our cost savings targets through the VTP, but we have let...
16 Apr
Sarine Technologies Ltd. announced that Japanese bridal jewellery retailer New Art Cima Ltd. is the first retail chain in Japan to implement the Sarine Diamond Journey diamond provenance solution to enhance its customer confidence. The system tracks a diamond through the process chain from mine all the way through to the retail counter. It includes a three-dimensional model of the original rough stone that a customer can see and touch, and a digital report that presents the transformation to the final polished gem it has become. According to a Sarine press release, New Art Cima has grown to be the leading bridal diamond jewellery retailer in Japan. It will roll out the Sarine Diamond Journey system first in its Exelco Diamond brand stores. New Art Cima Vice President Tetsuya Shiraishi...
15 Apr
Petra's Cullinan diamond mine in South Africa
Petra Diamonds announced that it had generated revenue of $342.4 million from the sale of 2.8 million carats, for the nine months ended March 31 last. This is a one percent increase over the $337.4 million from the sale of 2.6 million carats in the first nine months of the previous financial year.  s revenue for the nine months to 31 March 2019 up 1% to US$342.4 million from 2,797,700 carats sold (Q3 FY 2018 YTD: US$337.4 million from 2,641,720 carats sold). Third quarter (January-March 2019) revenue of $135.2 million due to a 6 percent reduction in sales volumes to 1,06 million carats, was 7 percent lower than the $145.7 million realised from the sale of 1.13 million carats. The company said that it was maintaining...
12 Apr
The GIA said that its annual London Jewellery Career Fair brought together nearly 200 gem and jewellery enthusiasts from across Europe on April 5 at the historic Goldsmiths' Hall. Job seekers had the opportunity to network with international and local companies looking to fill more than 60 positions in all areas of the industry. The event opened with a welcome address from GIA London School Director Mehdi Saadian and was followed by a wide-ranging panel discussion on Job Success in Today’s Market moderated by GIA President and CEO Susan Jacques. The next GIA Jewellery Career Fair will be in Carlsbad, California, on October 11.

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