Martin Rapaport outlined his view of the diamond industry Monday on the opening day of International Diamond Week in Israel. The Rapaport Group chairman presented data showing a decline in the diamond market during 2019, and examined how it had impacted business throughout the distribution chain - miners, manufacturers, dealers, retailers and consumers. He concluded with a number of guidelines on...Read More
(IDEX Online) - Lucapa Diamond Company Limited's first sales of diamonds from the Lulo alluvial mine in Angola and the Mothae kimberlite mine in Lesotho 2020 have realized A$8.2 million ($5.5 million). A total of 1,548 carats of diamonds recovered from Lulo sold for A$5 million ($3.4 million). This meant an average price per carat of A$3,251 ($2,200).The company sold 6,306 carats o...Read More
(IDEX Online) - The Responsible Jewelry Council (RJC) has announced it will unveil its latest retailer initiatives and resources at The Plumb Club pavilion during the 2020 JCK show. The not-for-profit organization will have a booth where it will meet with companies about RJC certification, integrating sustainability into their operations - and building trust and confidence with consumers.&nbs...Read More
(IDEX Online) - Chow Tai Fook Jewellery has closed over 40 points of sale in Hong Kong and Macau because of the ongoing threat of the coronavirus. The company is also taking steps to reduce operating hours at its remaining stores, with shops closing at 7 p.m.According to the Nikkei Asian Review the retailer is not planning on laying off any staff. Instead, the company will "arrange for front-line...Read More
BriteCo, an innovative appraisal and insurance technology company, announced that IDEX, the leading online diamond-trading platform for professional diamond traders, has become BriteCo's preferred source for diamond pricing. Free to qualified jewelers, BriteCo's appraisal software provides retail jewelers with intuitive, self-guided screens to enter key information, include ph...Read More
Alrosa has paused production at certain lower-value deposits as the diamond industry continues to face an inventory imbalance and external challenges, its CEO said.The Russian miner placed on care and maintenance select alluvial mines that contain diamonds priced at $50 to $60 per carat, Sergey Ivanov told members of the trade at the International Diamond Week in Israel on Monday. "In case the mar...Read More
Diamond miner De Beers Group has identified five focus areas that will be advanced across the group’s businesses to further improve safety.The actions were agreed on at the group’s biannual safety summit last week, which brought together CEOs from across the group to deeply engage on Pioneering Safely into a Brilliant Future and sign a pledge to work together to advance safety across t...Read More
(IDEX Online) - Over 300 international buyers from 18 countries arrived in Ramat Gan for the International Diamond Week in Israel, which opened yesterday. Of these buyers, 110 were in Israel for the first time. "This year, a record number of buyers and delegations from around the world have arrived here," said IDE president Yoram Dvash at the opening ceremony. He also noted that the total num...Read More
(Press Release) - IDEX and Yehuda Diamond Company are pleased to announce that IDEX is now using the Sherlock Holmes Detector to check single and melee stones as part of its authentication process in Antwerp. The two companies are also making the detector available for any supplier who wants to check their diamonds at the IDEX Office. The Sherlock Holmes Detector is a manually oper...Read More
(IDEX Online) - CIBJO, the World Jewellery Confederation, will hold its 2020 annual congress in Dubai, United Arab Emirates (UAE), from October 5 to October 7. The 2020 congress will be hosted by DMCC (Dubai Multi-Commodities Centre) with pre-congress meetings taking place on October 3-4.The congress serves as the official gathering place for the World Jewellery Confederation's Assembly of De...Read More
RAPAPORT... Dominion Diamond Mines has named Patrick Merrin as its interim CEO, replacing Shane Durgin, who has left to pursue other opportunities. Merrin, who assumes the role with immediate effect, joined parent group Washington Companies as chief operating officer for mining last month. He will serve in both capacities to ensure a "seamless transition in leadership" while it identifie...Read More
(IDEX Online) - The Alrosa Group has announced that it sold $405 million worth of rough and polished diamonds in January. That's an increase of 44 percent year-over-year. The company said rough diamond sales to third parties amounted to $390.2 million, with polished diamond sales reaching $14.8 million."January saw steady demand for rough diamonds as cutters continued restocking on the b...Read More
Russian diamond miner Alrosa's rough and polished diamond sales increased by 44% year-on-year to $405-million in January.This included $390.2-million worth of rough diamonds sold to third parties and $14.8-million of polished diamond sales.Advertisement"January saw steady demand for rough diamonds as cutters continued restocking on the back of positive Christmas jewellery retail sales,&qu...Read More
RAPAPORT... When millennials tuck into their avocado toast, they probably don't realize they're going along with a successful marketing campaign that began decades ago. Sales and prices of the slippery green fruit have soared since the 1990s thanks to subtle efforts by avocado producers to reposition the once-unpopular item as a healthy, trendy food.The diamond industry has gone the opposite way....Read More
RAPAPORT... Fancy-color diamond prices fell as a sharp decline in demand for yellows outweighed growth in other hues, according to the Fancy Color Research Foundation (FCRF).The organization's Fancy Color Diamond Index for yellows fell 5.4% year on year in the fourth quarter, while prices for blues rose 0.2%, the FCRF said Monday. Pink fancy-color diamonds inched up 0.1%, with the overall ind...Read More
Synthetic diamond producer Element Six, part of De Beers Group, has welcomed the successful conclusion of its patent infringement lawsuit against a Singaporean diamond producer.The High Court of Singapore found that the Singaporean diamond producer had infringed an Element Six patent for proprietary synthetic diamond products and their methods of manufacture.AdvertisementThe patent relates to the...Read More
RAPAPORT... When millennials tuck into their avocado toast, they probably don't realize they're going along with a successful marketing campaign that began decades ago. Sales and prices of the slippery green fruit have soared since the 1990s thanks to subtle efforts by avocado producers to reposition the once-unpopular item as a healthy, trendy food.The diamond industry has gone the opposite way....Read More
(IDEX Online) - Russian diamond miner Alrosa has announced that it will hold four auctions in 2020 in New York for rough diamonds weighing over 10.8 carats.The first auction will take place on February 18-28 with results announced in the beginning of March. The following auctions are scheduled for May 11, July 20 and November 16. "In general, each auction attracts up to 100 companies from dif...Read More
(IDEX Online) - Jewelers Mutual Insurance Company, SI, a member insurer of the Jewelers Mutual Insurance Group, has earned its 33rd consecutive A+ Superior financial strength rating from insurance rating and information source A.M. Best Company.The rating references Jewelers Mutual's strong risk-adjusted capitalization, operating results and liquidity. A.M. Best also considered Jewelers Mutua...Read More
(IDEX Online) - Over the past 10 years, fancy color diamond prices have increased 77 percent. That's according to newly released information from the Fancy Color Research Foundation (FCRF). Tracking the Fancy Color Diamond Index for the past decade shows that the price of pink diamonds has increased 116 percent, blue diamond prices have risen 81 percent and yellow diamond prices ha...Read More