The VIIIth Ecological Forum: clean business means clean air

Despite the fact that greenhouse gas emissions in Russia have halved over the past three decades, the country’s business and government authorities still have a lot of work to do within the National Ecology Project. This was stated during the plenary...

Yesterday

Lulo diamonds sell for $2.6mln

Lucapa Diamond’s 40%-owned Lulo alluvial mine in Angola, has sold 1,736 carats of diamonds for $2.6 million, representing an average price per carat of $1,530.

Yesterday

Firestone hires diesel generator units to keep mine's processing plant running

Firestone Diamonds said its Liqhobong mine, in Lesotho remains without sufficient power to operate the processing plant despite efforts over the past week to identify and to resolve the problem.

Yesterday

GJEPC hosts ‘India Diamond Week’ in Mumbai

The Gem & Jewellery Export Promotion Council (GJEPC) organized the India Diamond Week from 15th to 17th October 2019, which is aimed at creating an annual trading platform to increase communication amongst diamantaire,  and promoting...

Yesterday

BlueRock achieves record quarterly grades at SA mine

BlueRock Diamonds, which owns the Kareevlei diamond mine, in South Africa has achieved a grade of 4.3 carats per hundred tonnes (cpht) in the third quarter, compared with a grade of 3.13 cpht in the third quarter of last year.

Yesterday

De Beers Sales Drop in Weak Rough Market

Yesterday

(diamonds.net) - De Beers’ sales slumped to $295 million in September as the miner continued to allow sightholders to refuse goods in the prevailing weak rough-diamond market. The company maintained firm prices and offered increased flexibility to encourage lower purchases, thereby reducing the oversupply in the polished sector, sightholders explained to Rapaport News. It continued its policy of allowing clients to reject 50% of their allocations. It also expanded its buyback program by enabling customers to sell back to De Beers up to 30% of goods in the 2- to 10-carat rough categories, and 20% of the smaller items that constitute the majority of its supply.

KYC: Bridge Over Troubled Water

17 october 2019

(wfdb.com) - The diamond and jewellery industry is an industry spanning all continents. It covers a vast array of activities, from mining of minerals, their processing, conversion into jewellery, and finally retail activities, which lead to its sale to the end consumers. It also covers trading activities at all of these stages.  Precious materials change ownership multiple times before they reach their final form and are sold to the end consumer. They may even change hands multiple times at the same stage as they go through stages of aggregation and dis-aggregation. However, the combination of high values and the large spread of companies bring with it a host of challenges. Less than 20 years ago, a diamantaire could easily have bought diamonds from a supplier in one location, have them shipped to another location and perhaps a company that was distinct from his own firm, which was doing the ordering and paying. There were many variations to this.

Recession in diamond industry to hit diamond miner’s biz

16 october 2019

(timesofindia.indiatimes.com) - Prevailing recession in Surat’s diamond industry has affected the world’s largest diamond mining company, De Beers’ fortune too. The company is staring at huge losses due to lower sales in the last four sale sights. For the year to date, De Beers’ rough diamond sales are down 27% with diamantaires in India deferring more than 50% goods to reduce production in factories. For the first time, De Beers is expected to close the financial year with huge losses.

Lieberherr Steps Down as Head of Diamond Producers Association

15 october 2019

(jckonline.com) - Jean-Marc Lieberherr (pictured) is stepping down as chief executive officer of the Diamond Producers Association (DPA) after heading the group for nearly four years. He will be succeeded by David Kellie, who has worked at Ralph Lauren and Watches of Switzerland. Lieberherr will remain the group’s head until the end of his current contract period, Dec. 31. Kellie will join in December.

Melee malaise: Is marketing the solution?

14 october 2019

(jewellermagazine.com) - Does anyone have the answer to rectify the current malaise in the diamond industry? Before you can fix something you need to know the exact cause of the problem. I only state the bleeding obvious because there are calls for a new, $US1 billion global marketing campaign promoting natural diamonds, and especially engagement rings. Martin Rapaport is on the record as saying that current generic marketing efforts need to improve and miners, supported by brands, must step up to the plate to reach consumers. Few would disagree with such a concept – but where do the funds come from?

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