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Stellar halts plans to acquire Tonguma diamond project

Stellar said discussions with Octea Mining over the acquisition of Tonguma, which owns a mining license over the Tonguma kimberlite diamond project in eastern Sierra Leone were terminated and is no longer acquiring the company or its mining license from...

Today

IDWI ends on a positive and optimistic note

The International Diamond Week in Israel (IDWI) which was held from Feb.13 to 16 ended on a positive note, with participants showing immense optimism in the future of the diamond industry.

Today

India's fourth series of Sovereign Bonds begins today

The Government of India will come out with the fourth series of Sovereign Gold Bonds 2016-17, which the Reserve Bank of India will issue on its behalf. Applications will be accepted from today through March 3 and the bonds will be issued on March 17...

Today

Rockwell finalises sale of Saxendrift alluvial diamond assets

Rockwell Diamonds has concluded the sale of its noncore Saxendrift alluvial diamond assets in South Africa to private firm Nelesco 318 for C$4.5 million.

Today

Swiss Watch Exports Continue to Decline

The Swiss watch industry started the year where it left off as exports fell in January, albeit at a slower pace than in 2016.

Today

ALROSA Stepping Up Diamond Branding & Marketing Efforts

Today

(thediamondloupe.com) - Russian mining giant ALROSA is stepping up its marketing game beyond its contributions to the Diamond Producers Association (DPA), we were told this past Wednesday at ALROSA Night - a joint initiative between the Antwerp World Diamond Centre (AWDC) and ALROSA at the Belgian Ambassador's Residence in Moscow. The company's first move to promote ALROSA as a brand name was announced last December: the miner has renamed its foreign trading subsidiaries and affiliates, previously called ARCOS, as part of an initiative to create ALROSA’s single corporate brand. The sales network offices now bear the name of ALROSA and their region of location, such as ALROSA Belgium. They will also carry out relevant rebranding. This decision was made to identify ALROSA with its own sales network and provide clients with the guarantee of origin and quality of rough and polished diamonds sold through the network.

Can Lady Gaga Save Tiffany & Co?

Today

(diamonds.net) - The diamond and jewelry industry has long since lost its cutting edge. As such, Tiffany & Co.’s decision to partner with Lady Gaga on Super Bowl night should be applauded as a bold move that will resonate with consumers across the globe. Gaga joins the ranks of screen legends such as Marilyn Monroe and Audrey Hepburn, who previously helped build the brand’s position in pop culture. Like Monroe and Hepburn, Gaga brings her own style, femininity, and twist to the Tiffany story. And with more than 65 million Twitter followers, her reach surpasses those who came before her. Consider that the company's pre-Super Bowl tweet teasing its spring campaign featuring Gaga had been shared 486 times and received likes from around 1,000 followers at press time. Gaga’s tweet of the same video clip got nearly 6,000 shares and more than 20,000 likes.

The waning power of the engagement ring

Yesterday

(economist.com) - Peacocks strut; bowerbirds build lovenests; spiders gift-wrap flies in silk. Such courtship rituals play an important role in what Charles Darwin called sexual selection: when the female of a species bears most of the costs of reproduction, males use extravagant displays and gifts to demonstrate their “reproductive fitness” and females choose between them. For human males, shards of a crystalline form of carbon often feature. A diamond engagement ring signals a man’s taste, wealth and commitment, all to persuade a woman that he is a good bet. Greater equality for women might seem to render male-courtship displays redundant. But mating preferences evolved over millennia and will not change quickly. If diamonds were to cease being a way to signal a man’s marriageability, what might take their place?

De Beers Foresees Pleasingly Normal 2017

25 february 2017

(diamonds.net) - De Beers offered few surprises in its 2016 earnings, which were published on Tuesday and reflected what chief executive officer Bruce Cleaver called a “very pleasing year.” Granted, growth was compared to the weak performance of 2015, as last year saw inventories across the rough and polished sectors returning to “normalized” levels. But De Beers revenue and earnings are closer to the robust levels they enjoyed in 2013. Apart from its improved performance, the company reached a number of significant milestones during the year. It changed CEOs, launched the Gahcho Kué mine in Canada, raised its marketing budget to $120 million, expanded Forevermark beyond 2,000 retail locations, and forayed into generic diamond grading through its IIDGR division. The company is also testing new businesses such as a polished trading platform run by its auction unit, and a consumer buyback program. In short, De Beers is now spread across the distribution chain as it seeks to support its core rough-diamond operations. This year, as it continues to develop each of those auxiliary businesses, the company is focused on driving production – with planned output of 31 million to 33 million carats, compared to 27 million last year – while advancing its marketing programs. Rapaport News spoke with De Beers head of strategy Gareth Mostyn about the company’s plans and some of the challenges facing the market.

De Beers can “start looking” at rough diamond price increases

22 february 2017

(miningmx.com) - De Beers intended pushing diamond production levels back to “more normal” levels during 2017, but decisions on when to increase rough diamond prices would be driven by polished diamond price levels which were currently “pretty flat”. That’s according to De Beers CFO, Nimesh Patel, who told Miningmx “… as polished prices go up we can start to look at pushing up rough prices”.

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