Coronavirus: GIA's Antwerp Lab Faces Closure

By John Jeffay / August 31, 2020 / www.idexonline.com / Article Link

(IDEX Online) - The GIA could close its Antwerp lab with the loss of 51 jobs in the wake of coronavirus pandemic.Trades union bosses fear the premises in the Belgian city could become nothing more than a drop-off point for stones to be sent abroad."Apparently, over the past few months, they immediately forwarded incoming diamonds to the United States," Yves Toutenel, of ACV Transcom told the Provinciale Zeeuwse Courant newspaper."There they think that the investments in Antwerp are no longer profitable. I have the impression that they have started to panic."That's despite the GIA (Gemological Institute of America) having invested heavily in expanding the business as recently as 2018.The GIA lab was closed for two months during coronavirus lockdown and Belgium's polished exports for Q2 were down more than 70 per cent.Generic pic shows a lab, courtesy GIA

Recent News

Monetary-driven precious metals outperform major base metals

September 09, 2024 / www.canadianminingreport.com

Gold stocks hit by plunging equities markets

September 09, 2024 / www.canadianminingreport.com

Gold stocks down as metal and equities momentum fades

September 02, 2024 / www.canadianminingreport.com

Another Kazatomprom guidance announcement shakes uranium price

September 02, 2024 / www.canadianminingreport.com

Major monetary drivers still supporting gold

August 26, 2024 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok