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India’s exports of G&J rises 9.8%; polished diamonds up 10.2% in FY17

India’s exports of Gems and Jewellery increased 9.85% to $43.16 bn in FY17 (provisional data in April 2016 to March 2017) vis-a-vis $39.24 bn in FY16 (April 2015 to March 2016). Gross exports of cut and polished diamonds in FY17 increased...

Today

Debswana begins processing Cut 8 ore – report

Debswana, a joint venture company between De Beers and Botswana government, has begun processing ore from the $3 billion expansion of its Jwaneng diamond mine, known as Cut 8.

Today

Fancy color diamond price index slightly up in Q1 2017

The Fancy Color Diamond Index for the first quarter of 2017 indicates pricing stability across most fancy color diamond categories. The main exception was blue fancy color diamonds, which saw a 1.9% price increase in the first 3 months of 2017, continuing...

Today

Koin to conduct tender of African diamonds next month

Koin International is set to conduct sales of rough diamonds from several African countries in Antwerp next month.

Today

Jewelry to Drive US Mother’s Day Spending

US consumers are expected to spend more on jewelry than on any other product category this Mother’s Day (May 14), according to a survey by the National Retail Federation (NRF).

Today

De Beers Reclaims Its Name; Can It Revive Its Brand?

Today

(thediamondloupe.com) - The De Beers Group made headlines last month when it announced the end of its joint venture with LVMH with the aquisition of their 50% share in De Beers Diamond Jewellers (DBDJ), a move that Chaim Even-Zohar characterizes as, "brilliant and long overdue." He writes, "With De Beers at the helm, the venture will get a realistic chance to succeed. But above all, having full ownership of De Beers Diamond Jewellers means a 'homecoming' of the name De Beers, allowing the company to apply the name to a wider range of downstream possibilities." In his latest Diamond Intelligence Briefing (subscription), "De Beers Diamond Jewellers: A Commercial Disaster Getting a Second Chance", Even-Zohar looks at 14 of the 16-year history (2001-2015) of the failed partnership between the two luxury giants: "they should have divorced many years ago", writes Even-Zohar, particularly after LVMH's $6.01 billion acquisition of Bvlgari made DBDJ "totally irrelevant" to their business model.

Diamonds shine for Anglo American in the first quarter

Yesterday

(miningmx.com) - Anglo American bumped up its production across the board in the first quarter of 2017 – with the exception of copper and nickel – in what CEO Mark Cutifani described as “a strong operational performance enhanced by the continued ramp-up of Gahcho Kue, Minas-Rio and Grosvenor. The operating improvements at Sishen and on-going portfolio refinements are further strengthening Anglo American’s resilience and competitive position.”

Should Luxury Brands Be Excited About China’s Live-Streaming Frenzy?

Yesterday

(jingdaily.com) - The live-streaming industry’s explosion in China has shown the world just how keen Chinese consumers are about broadcasting their daily life on social media. Official statistics from the China Internet Information Center indicate that the number of live-streaming viewers had reached 325 million by the end of June 2016 and the majority of them are young—facts that have significant implications for luxury brands in China targeting the country’s emerging wealthy, millennial consumers. While brands have many reasons to be optimistic about this new tool for reaching shoppers, live-streaming’s widespread reach in China means navigating it the smart way isn’t always easy. Huge viewership numbers seemingly point to a promising path for luxury brands to win over more customers. However, exaggerating the number of views is a common practice among China’s various live streaming platforms, as exposed by some well-known online hosts and Chinese media outlets. In 2015, state-run newspaper People’s Daily criticized one live-streaming show on Douyu, a major service provider, for claiming a broadcast exceeded 1.3 billion online viewers, which is almost equivalent to the total population in China. During that same year, a popular live-streaming host said publicly that the platform he worked for constantly faked viewership numbers in order to attract investment.

Anil Agarwal plans to bring Anglo American’s business to India

26 april 2017

(businessfortnight.com) - Vedanta Resources Plc.’s founder and group chairman Anil Agarwal plans to leverage his association with Anglo American Plc. to persuade the British miner to set up businesses ranging from fertilizer production to diamond mining in India. Vedanta Resources also plans to spend $10 billion over the next three years across its businesses, of which $8 billion is earmarked for Indian operations, Agarwal said in an interview on the sidelines of the Global Natural Resources Conclave organized by Network18 and the Confederation of Indian Industry. In March, Agarwal announced the planned purchase of about 13% of Anglo American’s stock in an investment by his holding company Volcan Investments Ltd, making him the second-largest shareholder in the $26 billion company that counts diamond producer De Beers among its assets.

De Beers Clears Out Diamond Stock After India Cash Crisis

25 april 2017

(bloomberg.com) - De Beers sold almost twice the diamonds it mined in the first quarter as the top producer cleared stocks that piled up after India torpedoed demand in the local gem industry by abolishing large-denomination banknotes. The Anglo American Plc unit sold 14.1 million carats, the most since at least the start of 2016, when it first published data, and mined 7.4 million carats, it said in a statement Monday.

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