RAPAPORT... After six years of development, production is due to begin at Alrosa's Luaxe diamond deposit in Angola next year, the nation's government said. Output will come to around 1 million carats valued at $90 million in the first year, according to a Reuters report. The initial stages of production will be a "pilot project," Endiama strategic planning andmining operations administrator L...Read More
RAPAPORT... Belgium's diamond trade showed signs of stabilizing in November,with rough exports increasing year on year for the first time since April.While polished exports dropped 22%, the rate of decline slowed versus October, data from the Antwerp World Diamond Centre showed.Belgium Trade Data for November 2019 Read More
(IDEX Online) - The International Gemological Institute (IGI) has teamed up with S P Mandali's Principal L N Welingkar Institute of Management Development and Research (WeSchool) business school to launch a Jewelry Design and Business Management Program in Mumbai. Speaking at the launch of the three-month certification course, IGI managing director Tehmasp Printer said the course is an o...Read More
(IDEX Online) - Retail sales in November increased 0.1 percent seasonally adjusted over October and were up 2.1 percent unadjusted year-over-year. November's results build on October's increase of 0.2 percent month-over-month and a strong 4.1 percent year-over-year. The numbers exclude automobile dealers, gasoline stations and restaurants.As of November, the three-month moving average wa...Read More
RAPAPORT... US retail sales rose in November as consumer sentiment was strong at the start of the holiday season, the National Retail Federation (NRF)said. Total purchases for November - excluding automobiles, gasoline andrestaurants - rose 0.1% compared to the previous month, according todata the NRF published Friday. Sales climbed 2.1% year on year for the month, particularly impressive giv...Read More
RAPAPORT... After six years of development, production is due to begin at Alrosa's Luaxe diamond deposit in Angola next year, the nation's government said. Output will come to around 1 million carats valued at $90 million in the first year, according to a Reuters report. The initial stages of production will be a "pilot project," Endiama strategic planning andmining operations administrator L...Read More
Polished trading driven by last-minute US holiday ordersand preparations for Chinese New Year. Multi-channel marketing andpersonalization are key themes for retail this season. Consumers shifting tolower price points. Diamantaires satisfied with Dec. orders after tough year. Dealershoping reduced rough supply will support prices and relieve inflated polishedinventory. De Beers cuts production plan...Read More
Sluggish polishedtrading, with buyers struggling to find the right goods due to scarcity of popularcategories. Manufacturers cautiously raising production levels. Factories stilloperating below capacity with large inventories of lower-quality diamonds that aredifficult to sell at a profit. 0.30 to 0.70 ct., G-J, SI-I1 moving well. Starsand melee stable in SI and lower piqu?(C) clarities. Jewelry r...Read More
RAPAPORT... With the holiday season well under way, the Rapaport Diamond Podcast debates different trends taking shape in the retail space. The discussion spans personalization, omnichannel, effective storytelling, being more open-minded, and the need to move away from our reliance on Christmas.In addition, news editor and host Avi Krawitz, senior reporter Joshua Freedman, editor-in-chief Sonia Es...Read More
RAPAPORT... Operations at Petra Diamonds' South African mines haveresumed after the local electricity provider lifted restrictions on power usage. "The company's mining operations in South Africa are...nowoperating at normal load levels," the miner said Thursday. On Tuesday, Petra halted all production, hoistingand processing at its Cullinan, Finsch and Koffiefontein deposits after Eskom enf...Read More
RAPAPORT... Royal Asscher has appointed Kenji Saikachi as CEO of RoyalAsscher Japan, where he will be responsible for leading the jeweler's growth inthe country. "We are confident that [Saikachi] will successfully leadRoyal Asscher to become an even more important player in the Japanese diamondjewelry market," Royal Asscher managing director and vice president MikeAsscher said last week. "Wit...Read More
RAPAPORT... Diamond manufacturers will consolidate in the coming years to avoid being further squeezed by miners and retailers, Bain & Company predicted in its annual report on the industry.The forecast stems from the midstream becoming anincreasingly weak part of the supply chain while retailers and rough producers haveimproved efficiency. This has resulted in manufacturers becoming "pri...Read More
RAPAPORT... Sotheby's garnered $43.1 million from its two New Yorkjewels auctions, led by a blue diamond ring which sold for $6.6 million. The cushion-cut, 7.55-carat, fancy-deep-grayish-blue, typeIIb, SI2-clarity Indian Blue had been estimated to fetch $6 million to$8 million at the Magnificent Jewels auction Tuesday. That sale followed theNew York Fine Jewels auction, which took place Monda...Read More
RAPAPORT... A ruby brooch sold for nearly $9 million at Christie's NewYork sale Wednesday, far surpassing its $5.5 million high valuation. The piece, which comprises a total of 11.20 carats ofBurmese rubies, emeralds, diamonds and natural pearls, is from the collectionof noted philanthropist Jessie Ball duPont, who was the wife ofmultimillionaire businessman and duPont gunpowder heir Alfred d...Read More
(IDEX Online) - An Alrosa delegation, led by CEO Sergey Ivanov, recently met with diamond banks and funds to discuss developments in the industry. Among the attendees at the December 6 Moscow event were delegates from the State Bank of India, NBF, ABN AMRO and representatives of the DelGatto and Channel finance funds.During the meeting, the group discussed the factors leading to the weaker diamond...Read More
RAPAPORT... ABN Amro will implement changes to its guidelines for lending to the diamond industry in 2020, reasoning that the trade has become more efficient and now requires less credit.The midstream's reliance on working capital funding should have diminished given it has streamlined its production and sales processes, a spokesperson said in an email to Rapaport News. That new-found efficie...Read More
(IDEX Online) - Bain & Company and the Antwerp World Diamond Centre (AWDC) have released their ninth annual global diamond study. Among the key expectations of the study is a fall in rough diamond sales by up to 25 percent in 2019. With continued geopolitical instability, strong signs of an impending recession and limited marketing support, especially for non-branded and lower-end jewelry...Read More
ABUJA – Swiss prosecutors are investigating a trader of one of the world’s most sought-after-minerals over allegations he illegally dealt in metals during the Democratic Republic of Congo’s civil war.It’s the first time the Swiss authorities have confirmed the probe that began in March 2018.AdvertisementThe Swiss are scrutinising earlier allegations that the trader, Christo...Read More
(IDEX Online) - Technology company Everledger and Alrosa have launched a WeChat e-commerce pilot that will give Chinese consumers a more transparent and secure mobile diamond buying experience.Consumers will now be able to check a diamond's full provenance - including full transparency of origin, characteristics and ownership history - and unique certificate information. They will also...Read More
London-listed Petra Diamonds said on Thursday that its electricity use restrictions have been lifted by South Africa's State utility Eskom and its mines are operating at normal load levels.The company restarted its Cullinan, Finsch and Koffiefontein mines in South Africa on Tuesday, but added that it was restricting power use in line with requirements by Eskom.AdvertisementRolling blackouts in...Read More