US Holiday jewelry sales expected to skyrocket

According to Mastercard SpendingPulse, US jewelers can expect revenue from jewelry sales in the US between November 1 and December 24 will grow 59% compared to the same period last year.

17 september 2021

Australia becomes world’s biggest producer of gold for first time

Australia has become the world’s biggest producer of gold for the first time, having played second fiddle to China for the last decade. Australia unearthed 157 tons of gold in the first half of the year, pipping China by four tonnes.

17 september 2021

Nigerian minister mulls death penalty for gold smuggling – report

Nigeria’s deputy minister in charge of mines and steel development has called for the death penalty for gold smuggling in the West African country.

17 september 2021

Gemfields back to black

Gemfields is expected to register a net profit after tax of $23.8-million in the first half of the year compared with the net loss after tax of $56.7-million, a year earlier. Earnings per share are expected to be 2 US cents from a loss per share of 4...

17 september 2021

Debmarine Namibia's new diamond recovery vessel to arrive in SA next week

Debmarine Namibia’s new N$7 billion diamond recovery vessel, Additional Mining Vessel #3 (AMV3), is expected to arrive in Cape Town, South Africa next week ahead of commissioning early next year.

17 september 2021

Industry alarmed at Raplist decision to drop price list by 5-8%; companies remove stocks from RapNet

20 march 2020

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Image credit: Rapaport

Diamond companies are coming together to boycott Rapaport's price list in an effort to force RapNet to revoke its price drop

(diamondworld.net) - While the industry at large is trying to combat a global crisis, Raplist, the industry’s only diamond trading platform has decided to drop its price list by 5-8% for no rhyme or reason. Industry sources say that RapNet held an estate auction from 16-19 March and made profits knowing very well that it will drop its price list the next day and stakeholders are deeming this move by Rapaport unethical. On 10th March, members of RapNet also received a message from Martin Rapaport on how such challenging times should be turned into opportunities and another letter was sent on the 19th stating that it would be doing everything in its power to create liquidity at fair market prices given the scenario. However, the decision to drop price list is absolutely contradictory to both letters.