Lucapa’s Lulo reaches new monthly, daily alluvial diamond recovery records

Lucapa Diamond’s 40%-owned Lulo alluvial mine in Angola has reached a new monthly carat record for July 2020 of 3,462 carats almost immediately followed by a new daily carat record of 463 carats achieved in early August 2020.

Today

GIA to report specific color and clarity grades for LGDs

The Gemological Institute of America (GIA) will report specific 4Cs color and clarity grades on its new digital reports for laboratory-grown diamonds (LGDs), replacing the currently used descriptive terms and grade ranges, as per a press...

Today

ABN Amro quits trade and commodity financing

Dutch bank ABN Amro announced today that its investment bank will end all trade and commodity financing operations. The Bank’s focus turns solely to Northwest Europe and clearing activities to reduce risks, according to media reports.

Yesterday

Lucara lauds diamond supply deal with HB as it calls industry sales chain ‘broken’

Lucara Diamond, which wholly-owns Karowe Mine in Botswana, is blowing its own trumpet for securing a rough diamond supply deal with the HB, which is expected to reduce price discounts and boost cash flow.

Yesterday

AWDC and IDI to host second online diamond trade show in September

The 'virus-free' trade show co-organized by the Antwerp World Diamond Center (AWDC) and the Israeli Diamond Institute (IDI) will take place from 14 to 17 September on the Virtual Diamond Boutique trading platform.

Yesterday

The New Reality Of Diamonds

26 june 2020

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Image credit: mohamed Hassan (Pixabay)

(forbes.com) - The $80-billion global diamond industry has been a tradition-bound business reluctant to change until recently. The advent of e-commerce and price transparency and the introduction of new products such as lab-grown diamonds are helping to transform the industry. The diamond industry’s business structure, which had worked well for mining companies, intermediaries, wholesalers and retailers, was bound to be disrupted. E-commerce was the first body blow to the status quo, as more and more consumers, especially younger ones, began buying diamonds online. Today, millennials and Gen Z customers make up the bulk of online sales, driving revenue on new e-commerce jewelry platforms.