ABN AMRO predicts uncertain future for diamond industry

The global diamond industry has moved from a relatively stable environment to a highly uncertain environment due to lab-grown diamonds, according to The Diamond Insights report published by ABN AMRO Bank recently.

Today

Signet registers drop in its sales during the holiday season

Signet Jewelers Limited, the world's largest retailer of diamond jewelry, has announced its sales results for the holiday season, that ended January 5, 2019.

Today

ALROSA earns $463 mln at international auctions in 2018

In 2018, ALROSA, the largest diamond mining company in the world, held 32 international auctions for special size (over 10.8 carats) rough diamonds, receiving a total revenue of $463 million for the year.

Today

TDC warns entities declaring bankruptcy and restarting business without discharging liabilities

The Trade Disciplinary Committee set up in India has issued a circular for members of the respective organisations intimating them that action will be taken against entities which have declared bankruptcy/insolvency, and continue to conduct business...

Yesterday

Angola extracted 9.43 mln carats of diamonds worth $1.2 bln in 2018 – report

Angola produced 9.43 million carats worth $1.2 billion in 2018, according to Macauhub citing the state-owned diamond company Endiama.

Yesterday

Don't Poke the Bear!

14 january 2019
(The Jeweller Magazine) - The first text came in at 3:43am Las Vegas time. It was a press release from De Beers announcing the launch of Lightbox Jewelry, the company’s new collection of synthetic diamonds. The irony is so thick in that I was at Newark airport fewer than 24 hours earlier, where someone who works for one of the laboratory-grown companies was telling me they now own 200 reactors and that business was great. The discussion motivated me to become more knowledgeable about what synthetic diamonds actually cost to grow and I had been researching the costs. How expensive is a reactor? What are their growth rates and labour costs? I concluded that the cost to produce these goods is far below what the current sellers are claiming. In fact, my friend at the airport told me the cost of their laboratory-grown crystals was twice what it cost them for mined diamonds.