Anjin ‘grabs most lucrative diamond claim’ in Marange – report

Anjin Investments has allegedly taken control of the most lucrative diamond claim in Marange from the state-owned Zimbabwe Consolidated Diamond Company (ZCDC). Anjin is a joint venture between China’s Anhui Foreign Economic Construction Company...

Today

Geneva court finds Israeli tycoon Steinmetz guilty sentencing to 5 years in jail

Israeli mining tycoon Beny Steinmetz was found guilty of bribing Guinea officials close to former president Lansana Conte, to give him access to an iron-ore mine for a mere US$200m, now valued at US$5bnb, a Geneva judge ruled, sentencing Steinmetz to...

Today

Geological exploration going on at Luaxe in Angola

Guided by Decree 192-A / 20 issued by the President of Angola on 23 July 2020, the local executive authorities gave their permission to go on with exploration work at the Luaxe Diamond Field to increase government revenues, create jobs and promote national...

Yesterday

Diamond industry, prices continue to strengthen – Lucapa

Lucapa Diamond, which mines in Angola and Lesotho, says the consumption and strong demand that saw the diamond industry begin its recovery in the third quarter of 2020 and during the festive period, has continued into 2021.

Yesterday

Botswana Diamonds raises £363k to fund exploration activities

Botswana Diamonds arranged a placing with existing and new investors to raise £363,000 through the issue of 60,5 million new ordinary shares for 0.6p each.

Yesterday

Partnership the watchword in technological collaboration

Today

(miningreview.com) - Partnership will be the watchword in the technological collaboration between global diamond leader De Beers Group and engineering group Sandvik Mining and Rock Solutions on the Venetia Underground Project (VUP). South Africa’s largest diamond mine, Venetia has been mined as an open pit since 1992. De Beers Group is investing ~$2 billion to start mining underground from 2022, extending the mine’s life beyond 2045. The VUP represents the biggest single investment in South Africa’s diamond industry in decades.

With 22 Million In Lockdown, Chinese New Year Isn’t Looking Prosperous For Luxury

Yesterday

(jingdaily.com) - What Happened: Although China has been largely successful in controlling the virus, an alarming spike in cases and its first COVID-19 death since May have now rattled the country, causing it to close down just before Chinese New Year. In Hebei, where cases have surged to over 550, officials last week imposed “wartime mode” measures, including mass testing, transportation shutdowns, and travel restrictions. As the province surrounds Beijing, the country’s seat of power, these precautions act as a “political moat.” Shijiazhuang and Xingtai, two cities with more than 17 million people, were put under lockdown as well as districts in Beijing itself. All in all, more than 22 million people have been ordered to stay indoors — double the number of people affected last January in Wuhan.

Bharat: Will Other Bourses Now Embrace Lab-Growns?

22 january 2021

(idexonline.com) - The tide is turning for lab-grown diamonds. The world's biggest bourse, Bharat, in Mumbai, India, voted earlier this week to allow them back on to its trading floors. Members overturned a ban introduced five years ago to prevent them being mixed in with mined gems. Technology to distinguish one from the other has come a long way since 2015, and so has the willingness of diamantaires to embrace a product that is cheaper to produce and more profitable to sell.  Only last month De Beers, creators of the modern diamond industry, opened its $94m Lightbox factory in Portland, Oregon, USA, which will soon be producing 200,000 carats a year of polished lab-grown gems. It has a super-simple pricing policy - $800 per carat, any diamond, any size, any cut. Lab-growns currently account for about three per cent of all gem-quality diamond sales worldwide (2020, Statista) and that figure is forecast to reach 10 per cent within a decade. The Bharat Diamond Bourse has recognized which way the wind is blowing. If it doesn't join the lab-grown revolution, it will become irrelevant as diamond traders will simply take their trade elsewhere. So is BDB setting a precedent? Can we expect Antwerp, Ramat Gan, Dubai and others to embrace lab-growns any time soon?

In the Wake of the Cyberattack on Stuller, 5 Tips on Cybersecurity

21 january 2021

(nationaljeweler.com) - Stuller was hit by a cyberattack over Thanksgiving weekend that delayed shipments, shut down the phone lines, and created other operational issues amid the holiday rush. It took a few days for the massive manufacturer and supplier to get same-day shipping services on in-stock items and the phone lines back up and running. While Stuller said there was no indication that sensitive business information was compromised—noting that customer credit cards on file are tokenized, encrypted, and not housed at Stuller—the stressful disruption came at the most critical time of the year for the supplier, underscoring the need for businesses today to invest in cybersecurity.

Even in a Pandemic, Fine Jewelry Is Selling

20 january 2021

(nytimes.com) - Conventional wisdom suggests that a pandemic would not bode well for jewelry sales. But for Mark Patterson, a fine jewelry designer with a retail store in this coastal Southern California enclave, 2020 has defied expectations at every turn. (And he’s not alone.) “Wholesale is down — we haven’t done any trunk shows — but our retail store has doubled sales from last year,” Mr. Patterson said in late October. “It’s crazy. We don’t know how to explain it.”

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