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Petra Diamonds full-year profit slides, resumes Williamson operations

Petra Diamonds said its adjusted earnings before interest, tax, depreciation and amortization (EBITDA) slowed 4 percent to $157.2 million from last year’s $164.3 million.

Today

Lucapa posts $1.1 million H1 loss

Lucapa Diamond Company, which has a 40 percent stake in Sociedade Mineira do Lulo (SML), in Angola said it recorded a $1.1 million loss for the six months ended 30 June 2017 compared with a $3.25 million profit, a year earlier.

Today

MIJEX slated for Oct. 24-28 in Muscat

Oman International Exhibition Centre is proud to announce the 8th Muscat International Jewellery Exhibition 2017 (MIJEX) to take place on October 24-28, 2017 at Oman Convention and Exhibition Centre, Muscat, Oman, says a press note from the organiser...

Today

Botswana’s Okavango appoints new managing director

Botswana’s state-owned rough trader, Okavango Diamond Company, has appointed Marcus ter Haar as its managing director.

Today

India's overall exports from gem and jewellery sector down almost 25% in August

Overall exports from the gem and jewellery sector during August 2017 was at $ 2.77 bn, a drop of 24.42% over the $ 3.66 bn exported in the same month the previous year.

Yesterday

How Three Jersey Shore Developers Intend To Drop The Price Of Diamonds

14 july 2017
(forbes.com) - These three 28-year-old guys work out of Asbury Park, New Jersey, just a quick drive to the boardwalk and The Stone Pony, the venue that’s famous for launching Bruce Springsteen’s career. One of them, Justin Insalaco, is a former Mercer County cop, who came up with the idea for a law enforcement app after getting frustrated that he couldn’t access critical information, like policies and floorplans, from his cell phone. That app became Guidant Systems, which has been adopted by The Department of Homeland Security and The Pentagon Force Protection Agency. Insalaco developed it with his business partners Matthew Roselli, a former advertising executive, and Jason Elhomsi, who came out of financial marketing. None of them have any background in jewelry, which is why Roselli found ring shopping so challenging after he decided to get engaged a few years ago. “When you say you’re getting engaged,” Insalaco says, “about 15 people in your network in Jersey and New York tell you that they’ve got a [diamond] guy.” Still, Roselli found the process daunting, unsure of whom to trust and why ring prices varied so much from jeweler to jeweler. That got the team at 3BDreams, a marketing think tank that Insalaco founded after Guidant Systems became successful, wondering. They founded Legemdary in 2015, with the notion that engagement ring buyers should have access to the kind of easy, seamless shopping experience that the internet has made possible for so many different industries. Legemdary is reverse auction site that bypasses the retailer completely . Instead, it connects buyers with wholesalers.

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