IDEX Online - Rough Market

Rough Market

Sarine is suing Rose Gems in Vadodara Commercial Court alleging breach of contract and copyright infringement.
Posted: February 20, 2018, 1:00 am
DDE signs strategic partnership with Stargems, which specializes in the sourcing and supply of fine diamonds, to host rough diamond tenders this year.
Posted: February 18, 2018, 2:00 am
Strong interest from visiting Israeli and Indian buyers, as well as by local Antwerp dealers and cutters, at the February 14-15 event.
Posted: February 18, 2018, 1:00 am
ALROSA sold 105 gemstones weighing 1,665 carats for $13.7 million at an auction of special size rough diamonds over 10.8 carats.
Posted: February 18, 2018, 12:23 am
Sides discussed bilateral cooperation in the field of diamond trading, as well as cooperation within the framework of industry international organizations.
Posted: February 15, 2018, 2:00 am
The February 21 to 25  61st BGJF is expected to welcome over 20,000 buyers and visitors from more than 130 countries.
Posted: February 13, 2018, 3:00 am
Mountain Province Diamonds said its recently completed first diamond sale of 2018 produced the highest result to date in total dollar terms.
Posted: February 13, 2018, 2:00 am
ALROSA sold $499 million of rough diamonds last month and $5.5 million of polished diamonds.
Posted: February 13, 2018, 1:00 am
The mine was commissioned in 1991 and is located on the south-western coast of Namibia near the town Luderitz.
Posted: February 12, 2018, 1:00 am
Company representatives had opportunity to discuss with ALROSA's management their work in the new contract period, trends and challenges.
Posted: February 8, 2018, 3:09 am

IDEX Online - Polished Market

Polished Market

In another 5-10 years, automated color/clarity reports will be the standard. Technology can provide grading services that are consistent, the firm says.
Posted: February 20, 2018, 4:00 am
The Israeli diamond industry is again preparing a major presence at HKTDC’s Hong Kong International Diamond, Gem & Pearl Show this year.
Posted: February 20, 2018, 2:00 am
Carats tracks the asking prices of tens of thousands of GIA certified, round diamonds offered on Get Diamond by the Israel Diamond Institute.
Posted: February 20, 2018, 1:28 am
Sarine is suing Rose Gems in Vadodara Commercial Court alleging breach of contract and copyright infringement.
Posted: February 20, 2018, 1:00 am
DDE signs strategic partnership with Stargems, which specializes in the sourcing and supply of fine diamonds, to host rough diamond tenders this year.
Posted: February 18, 2018, 2:00 am
Bharat Diamond Bourse expects at least 1,000 visitors from India and abroad to take part in the first Bharat Diamond Week.
Posted: February 18, 2018, 1:25 am
Gem and Jewelry Institute of Thailand has announced launch of ‘Inheritance and Identities’ project.
Posted: February 18, 2018, 1:06 am
“The Making of a Gem” videos aim to showcase striking similarities between unique journey of an athlete on the rise and a diamond.
Posted: February 15, 2018, 5:00 am
Sides discussed bilateral cooperation in the field of diamond trading, as well as cooperation within the framework of industry international organizations.
Posted: February 15, 2018, 2:00 am
Generating an average of 56,000 units of electricity each year, the solar plant will reduce the heat load of the building by 90 percent.
Posted: February 14, 2018, 3:15 am

Rapaport - News

RAPAPORT... The Gem & Jewellery Export Promotion Council (GJEPC) is planning to build India’s largest jewelry park over the next few years. The council signed a memorandum of understanding with the Maharashtra Industrial Development Corporation to build the 25-acre park in Mumbai, the GJEPC said Monday. The complex will feature built-in units ranging from 500 to 10,000 square feet. “...
Posted: February 20, 2018, 7:27 am
RAPAPORT... Stargems will host a series of rough-diamond tenders in Dubai this year, enabling miners, suppliers and other companies to buy and sell goods. The sourcing-and-supply company has formed a partnership with the Dubai Diamond Exchange (DDE) to stage the events at the bourse, the Dubai Multi Commodities Centre (DMCC) said Sunday. “The business case is clear,” said Shailesh Jav...
Posted: February 19, 2018, 7:21 am
RAPAPORT...  Sarine Technologies has filed a lawsuit against Indian manufacturer Rose Gems, alleging breach of contract and fraud, the diamond-technology company said Sunday.  The suit, which also alleges copyright infringement, relates to activities Sarine initially reported last month. By illegally hacking into and manipulating Sarine’s Galaxy inclusion-mapping system, Rose Gems ...
Posted: February 19, 2018, 4:30 am
RAPAPORT... Petra Diamonds slumped to a significant loss in the first fiscal half as the South African rand strengthened against the dollar, reducing the value of two mines the company operates in the country.   The net loss came to $117.7 million for the six-month period ending December 31, while profit from mining activities slipped 7% to $85.6 million. The miner suffered ...
Posted: February 19, 2018, 3:46 am
RAPAPORT... Three UK suppliers are collaborating on a one-day fair in London that will feature only ethically sourced and traceable gemstones for purchase by jewelry designers. Stuart Pool of Nineteen48, Kathy Chappell of Fair Trade Gemstones and Ian Bone of Queensland, Australia-based Capricorn Gems will present stones at the March 13 event. All the goods on show will include full provenanc...
Posted: February 18, 2018, 7:36 am
RAPAPORT... Phillips has appointed Susan Abeles head of jewelry for the Americas, the auction house said Friday. Abeles (pictured), who will be based at the company’s New York headquarters, has been tasked with creating a jewelry team there, as well as working with clients on consignment projects. She will also take on the role of senior international specialist, and will be in charge of Ph...
Posted: February 18, 2018, 6:00 am
RAPAPORT... Alrosa sold $13.7 million worth of special-size rough diamonds in Israel earlier this month, the miner said Friday. The company auctioned 105 diamonds larger than 10.8 carats, totaling 1,665 carats. The stones sold for far more than their initial asking prices, Yury Okoemov, deputy CEO of Alrosa, said.  “More than 100 companies from different geographical trade and man...
Posted: February 18, 2018, 5:33 am
RAPAPORT... Israel’s polished-diamond exports continued to decline in 2017, dropping 4% to $4.48 billion. In volume, outbound polished-diamond shipments fell 6% to 1.7 million carats in 2017, the nation’s Ministry of Economy and Industry reported last week. The average price for polished exports increased 2% to $2,588 per carat. Exports to the US, a highly important market for the Israeli ...
Posted: February 18, 2018, 5:01 am
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Posted: February 15, 2018, 11:29 am
Polished prices firm, supported by shortage of select fine-cut (3X, no-fluorescence) diamonds. Trading slow as Chinese buyers take vacation during the Lunar New Year. Dealers hoping strong festival jewelry sales will boost diamond demand at Hong Kong show (Feb. 27-Mar. 3). US stable. Rough market busy as cutters raise polished production. Alrosa Jan. sales $499M. Small miners see higher price...
Posted: February 15, 2018, 11:00 am
Steady activity as dealers prepare for Hong Kong show. Fewer foreign buyers in Mumbai, with Hong Kong dealers on vacation during Chinese New Year. Solid US demand for commercial-quality diamonds. Manufacturers raising polished production in anticipation of post-holiday orders. Rough market busy, but concerns rising about high price levels. Round   ...
Posted: February 15, 2018, 10:58 am
The resignation of President Jacob Zuma raised investors’ confidence in South Africa-focused miners, with Petra Diamonds (+16%), Anglo American (+7.9%) and Rio Tinto (+10%) all gaining. The latter two also benefited from higher metal prices. North American retailers had a positive week: J.C. Penney (+2.4%) and Macy’s (+3.6%) both climbed, while Birks (+4.2%) recovered some ground after a 20% drop ...
Posted: February 15, 2018, 10:57 am
RAPAPORT... Labrador-grown diamonds? The Year of the Dog is coming up, and we are unleashing insights about how the Chinese New Year will affect the trade in the Far East. Also, an interview with noted jewelry journalist Jennifer Heebner, who shares her experiences from the most recent US colored-gemstone shows. Check out Episode 3 of The Rapaport Diamond Podcast for everything you need...
Posted: February 15, 2018, 8:50 am
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Posted: February 15, 2018, 7:52 am
RAPAPORT... Last month, dozens gathered in midtown Manhattan to learn more about De Beers’ Diamond Blockchain Initiative — a project that aims to underpin confidence in diamonds by creating permanent records for them. While most know blockchain as the technology that underlies Bitcoin, De Beers is testing a system that will safeguard stones’ identity, ownership, contracts and financing histor...
Posted: February 15, 2018, 4:07 am
RAPAPORT... Jewelers dismissed a Human Rights Watch (HRW) report which claimed companies and the Responsible Jewellery Council (RJC) did not provide sufficient ethical sourcing guarantees. “We have reviewed the Human Rights Watch report and reject the suggestion that RJC has got ‘flawed’ standards, governance and certification systems,” Gerhard Humphreys-de Meyer, communications coordinator for t...
Posted: February 14, 2018, 9:49 am
RAPAPORT... The Diamond Producers Association (DPA) has launched a new video ad campaign for the 2018 Winter Olympics in Pyeongchang, highlighting the connection between diamonds and athletes. The series, called “The Making of a Gem,” features videos of a diamond-wearing snowboarder, an ice-skating pair and and a women’s hockey team in action. The series aims to demonstrate the si...
Posted: February 14, 2018, 8:15 am
RAPAPORT... The Israeli government has pledged $284 million (NIS 1 billion) to guarantee bank loans to diamond companies in an effort to ease the trade’s severe credit difficulties. A lack of credit is stifling growth, especially among the smaller firms that constitute about 70% of the Israeli trade, according to a special committee set up to investigate the sector’s challenges. The...
Posted: February 14, 2018, 5:19 am
RAPAPORT... Gem Diamonds has appointed Kelebone Leisanyane as CEO of Letšeng Diamonds, the miner said last week. Leisanyane (pictured), the former CEO of the Lesotho National Development Corporation, took over the position from Jeff Leaver in January. Leaver will continue to work for Letšeng in an advisory capacity. Letšeng Diamonds owns and operates the Letšeng mine, in which Gem Diamo...
Posted: February 14, 2018, 4:20 am
RAPAPORT... Mountain Province Diamonds has posted its highest monthly sales total to date, as better-quality production and improved demand drove rough prices higher in February. The company sold a total of 351,000 carats from its Gahcho Kué mine for $27.3 million during the month, at an average of $78 per carat. The increase from $53 per carat in December was due in part to an improve...
Posted: February 13, 2018, 9:12 am
RAPAPORT... Alrosa’s sales surged 38% to $504.5 million in January, as a strong holiday season boosted market sentiment. “We have seen good demand for the whole assortment of our diamond products,” Yury Okoemov, deputy CEO of Alrosa, said Monday. “[Demand was] supported by positive trends in the major sales markets, backed by good retail sales results in 2017, including the Christmas season...
Posted: February 13, 2018, 7:17 am
RAPAPORT... India’s gem and jewelry exports will grow by a double-digit percentage this year, Pramod Agrawal, the newly elected chairman of the Gem & Jewellery Export Promotion Council (GJEPC), predicted this week. The high quality of Indian manufacturing and a recovery in US and European markets will drive the growth, Agrawal explained at the Signature India International Jewe...
Posted: February 13, 2018, 4:35 am
RAPAPORT... De Beers’ joint venture with the Namibian government is seeking a buyer for its Elizabeth Bay operation, as the miner diverts resources to its marine projects. Namdeb closed Elizabeth Bay between 2009 and 2011, when it revived it and gave it a projected lifespan of four years. While the mine is expected to continue to produce diamonds through 2019, its output does not meet De ...
Posted: February 12, 2018, 9:30 am
RAPAPORT... Indian diamond manufacturer Asian Star’s revenue jumped 40% year on year to $162.7 million (INR 10.47 billion) in the third fiscal quarter, the company reported last week. Profit more than trebled to $7.5 million (INR 484.9 million) for the three months ending December 31, including subsidiaries. Revenue from the diamond division surged 45% to $145.2 million (INR 9.34 bi...
Posted: February 12, 2018, 8:39 am
RAPAPORT... Alex and Ani has filed a countersuit against Sterling Jewelers, claiming the retailer breached a supply agreement between the two companies, according to court filings. In August 2015, the companies entered into an agreement whereby Sterling would purchase Alex and Ani merchandise to sell in some of its Jared stores. But Sterling, a division of Signet Jewelers, struggled to se...
Posted: February 12, 2018, 5:45 am
RAPAPORT... Lucapa Diamond Company garnered $9.1 million at its January rough sale, achieving an average price of $2,192 per carat.  The miner sold 4,170 carats at the tender, its first of the year, it said in a recent statement. The diamonds are from the company’s Lulo alluvial mine in Angola. Additionally, Lucapa has recovered its first stones — including a 6.6-carat diamond — from its...
Posted: February 12, 2018, 3:57 am
RAPAPORT... India’s Central Bureau of Investigation (CBI) has launched a probe into billionaire jeweler Nirav Modi over allegations he defrauded a state bank of $44 million, Reuters reported. The Punjab National Bank complained to the CBI that Modi and others had conspired with bank officials for financial gain, the report said last week. Earlier this month, the CBI raided Modi’s home...
Posted: February 11, 2018, 10:53 am
RAPAPORT... The Women’s Jewelry Association (WJA) has elected Jenny Luker, president of Platinum Guild International, as its new international-board president. Sara Yood, senior counsel of the Jewelers Vigilance Committee, will serve as treasurer, while Rebecca Moskal, a partner at jewelry-marketing firm Communiqué, will take on the position of corporate secretary. Lauren Thompson of Jewel...
Posted: February 11, 2018, 10:02 am
RAPAPORT... Jewelry and watch companies need to increase efforts to ensure their supply chains are free of human-rights abuses, a campaign group cautioned in a report last week. “Many jewelers can do more to find out if their gold or diamonds are tainted by child labor or other human-rights abuses,” said Juliane Kippenberg, associate child-rights director at Human Rights Watch. “When ...
Posted: February 11, 2018, 8:49 am
RAPAPORT... The Gemological Institute of America (GIA) has identified a synthetic moissanite stone that had been submitted to one of its laboratories as a natural rough diamond. The GIA’s Carlsbad lab recently examined the 9.71-carat stone, whose shape was similar to an octahredron, staff gemologist Rebecca Tsang wrote in the Winter 2017 edition of the institute’s journal, Gems &...
Posted: February 11, 2018, 6:00 am
Positive sentiment, with rising expectations for the Chinese New Year retail season. Busy trading at Israel’s International Diamond Week, with momentum expected to continue through the Hong Kong show (Feb. 27). US retailers restocking and hoping for positive Valentine’s Day sales, despite recent drop in equity markets. Polished prices firm, with 1 ct. RAPI +2.2% in Jan. Manufacturers concerne...
Posted: February 8, 2018, 11:00 am
RAPAPORT... Sotheby’s has unveiled a rare white diamond that, it claims, is the only known round brilliant-cut diamond over 100 carats possessing the highest cut, color and clarity grades. Sotheby’s Diamonds, the group’s retail boutique, revealed the 102.34-carat, D-color, flawless stone to mark the first anniversary of its salon on London’s New Bond Street, the auction house said Thursday. ...
Posted: February 8, 2018, 10:18 am
RAPAPORT... Pandora sales lagged behind expectations in 2017, as the jeweler noted a decrease in traffic to its stores in Asia and difficult US market conditions. Revenue rose 12% to $3.74 billion (DKK 22.78 billion) for the year, shy of the $3.78 billion to $3.94 billion (DKK 23 billion to DKK 24 billion) that it forecast. At constant exchange rates, revenue grew 15%, the Danish selle...
Posted: February 8, 2018, 7:51 am
RAPAPORT... Times have not been good for Signet Jewelers. A decidedly disappointing holiday season saw same-store sales slide by 5.3%. This followed a 4.6% drop in 2016. Add to this poor performance the sexual harassment and discrimination allegations that have hounded the retail giant, and a share price that slumped 30% over the past year, and it becomes apparent that 2017 was a cocktail of ...
Posted: February 8, 2018, 4:44 am
RAPAPORT... Sentiment was strong at International Diamond Week in Israel as traders displayed optimism about the market and noted shortages were supporting prices. Visitors observed increased traffic and exhibitor numbers from last year, with dealers from around the world attending the Monday-to-Wednesday event at the Ramat Gan bourse. “It's a positive market, and we are happy to b...
Posted: February 8, 2018, 3:40 am
RAPAPORT... Consumers plan to spend $19.6 billion on gifts this Valentine’s Day, with jewelry topping the list at $4.7 billion. A survey by the National Retail Federation (NRF) showed a 3% rise in the amount consumers intend to lay out on their loved ones over the holiday. Other items on the list were an evening out at $3.7 billion, flowers at $2 billion, $1.9 billion for clothing and $1.8...
Posted: February 7, 2018, 8:57 am
RAPAPORT... The Gemological Institute of America (GIA) has appointed Duncan Pay as vice president and chief academic officer. Pay (pictured) will take charge of global education courses in gemology and jewelry design and manufacturing. He will replace senior vice president and chief learning officer Bev Hori, who will retire from the position in May.  “I am immensely pleased that Duncan...
Posted: February 7, 2018, 5:20 am
RAPAPORT... Belgium’s diamond trade declined last year, with the nation seeing a drop in shipments of both polished and rough stones.  Polished exports fell 3.4% to $11.4 billion for the year, the Antwerp World Diamond Centre (AWDC) said Monday. By volume, exports slid 8% to 5 million carats, while the average price climbed 4.6% to $2,276 per carat. Net polished exports — representi...
Posted: February 7, 2018, 4:59 am
RAPAPORT... Rio Tinto’s diamond revenue rose 15% to $706 million in 2017, as global rough demand increased and Indian manufacturers replenished stock following demonetization. Profit in the diamond unit almost doubled over the previous year, climbing 96% to $92 million. Earnings before interest, tax, depreciation and amortization (EBITDA) grew 20% to $287 million. “Rough diamond demand...
Posted: February 7, 2018, 4:33 am
RAPAPORT... The Panama-based World Jewelry & Diamond Hub has elected Edi Faltz as president. Faltz (pictured), who has been executive vice president of the bourse since September 2016, is the owner and CEO of Panama City diamond and jewelry company Ten Global, as well as the Diamond Buying Office and the Faltz Diamond & Jewelry Group, both in Israel. He will replace Mahesh Khemla...
Posted: February 6, 2018, 9:19 am