De Beers rough sales slide again

Anglo American said the value of rough diamonds sold by De Beers dropped to $475 million during the eighth cycle of 2018 compared to $503 million recorded in the seventh cycle.


Rio Tinto’s diamond production dips in Q3 2018

Rio Tinto has announced that production in its Argyle Mines (100%) and Diavik Mine (60%) have dipped during the third quarter of 2018. Argyle witnessed a 19% dip in carat production y-o-y.


GJEPC Jaipur hosts exporter interaction with bank and customs officials

The Jaipur regional office of The Gem & Jewellery Export Promotion Council (GJEPC) hosted an "Industry Interaction with Banks" on Friday, October 12 as part of its event series ‘The Dialogue - A New Beginning’, says a report in


Angola denies abusing illegal foreign diamond miners

Angola has refuted reports that its security forces failed to observe human rights when they conducted an operation to drive out foreign illegal artisanal diamond miners in the Lunda Norte province bordering the Democratic Republic of Congo.


Gem Diamonds recovers 357 ct light brown stone from Letšeng

Gem Diamonds said it has recovered a 357 carat light brown ‘high quality’ diamond from its 75 percent-owned Letšeng mine in Lesotho.


Mercury Polished Diamond Prices: Prices Fall in September


( - Polished diamond prices declined sharply in September, eroding all the gains made during the year. The Mercury Diamond Global Tracker™ averaged 111.74 in September 2018, down 1.85% over August. This is the deepest monthly price decline since May 2015, when prices plunged more than 4%. Polished diamond trade was very limited during the month due to a series of Jewish and Hindu holidays.

Analysts predict a big holiday quarter for Apple Watch, affecting the entire jewelry industry


( - As several reports have suggested, Apple Watch is eating into the traditional watch business. Now, analysts are predicting that demand for the Apple Watch this holiday season will eat at sales in the already-slowing traditional watch industry. As noted by MarketWatch, Citizen’s Bank explains that by charging more for its “essential tech products,” Apple is taking a larger share of discretionary spending in general. This year more than past years, Citizens Bank expects the jewelry industry to take a hit from this due to the new Apple Watch.

Government Supportive Of Indian G&J Industry But National Needs Come First

15 october 2018

( - The Indian government's decision to raise the import duty on cut and polished diamonds, semi-processed stones, half cut or broken diamonds and lab-grown stones and processed colored gemstones to 7.5 percent from 5 percent was exactly the type of news the industry on sub-continent could do without. The government said the move was aimed at attempting to reduce India's current account deficit. And, to be fair, the other items on the list were of the everyday variety which made defending a hike on customs tax for precious stones difficult a tough gig. The list included, for example, air-conditioners, refrigerators, washing machines, footwear, furniture fittings and tableware.

Kenya showing potential to be gem hub of Africa

12 october 2018

( - This exclusive interview with Antony Zagoritis, chief executive officer, Lapigems in Kenya looks at the potential for gemstones in the sector. At the upcoming Kenya Mining Forum, he is part of a panel discussion in the session on “Upgrading Kenya’s ASM sectors human capital, while glazing the upgrades of Kenyan gemstones.”  “We are at a crossroads. Kenya has the potential to bestow upon itself the mantle of the Gem Hub of Africa. No African country has yet done this.”

Are Diamonds a Good Investment?

11 october 2018

( - The topic of buying diamonds as an investment has recently become a commonly debated issue. A fixed price per gram, such as the universal world price for an ounce of gold, for example, does not exist for any diamonds, whether colourless diamonds or Natural Fancy Coloured Diamonds. Each stone is unique, and no two stones are exactly the same. A diamond’s value is determined by several factors, the best known being the 4Cs: Carat, Colour, Clarity and Cut. Even the smallest differences can have an enormous impact on price. The term “investment diamonds” is used more and more often; however, because diamonds yield neither interest nor dividends, they are not a typical investment. Supply and demand also affect the price of diamonds, so although diamond prices are stable over a long period, a drop in demand can cause prices to fall. For rare colours like pink, blue, green or red, prices have increased significantly for stones of all sizes. In recent years, record-breaking prices have been paid for larger stones in these colours at the famous Sotheby’s and Christie’s auctions. Despite these record prices, however, caution is still advised because often times, those high prices were paid by professional traders who specialize in the sale of such stones. In addition, several “important” stones recently failed to attract buyers at auction.

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