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

Are Diamonds Still A Girl’s Best Friend? Industry Sees Major Downturn Amid Coronavirus Pandemic

30 june 2020

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Natural diamonds Image credit: Lucapa Diamond Company

(brinkwire.com) - With few jewelry stores open, consumers sitting on the sidelines and diamond exchanges closed as a result of the coronavirus pandemic, the mined diamond industry has ground to a virtual halt amid efforts to grapple with the growing popularity of synthetic stones. Earnest Data estimates retail spending on jewelry in the U.S. was off 75% through April 1 while Dinesh Navadiya, GJEPC, estimated Indian diamond exports were off $846 million. “We’ve never had an environment where commercial activity right across the whole pipeline, let alone the whole luxury goods industry, has simply come to a halt,” David Prager, executive vice-president corporate affairs at De Beers, told Jeweller magazine. DeBeers, the world’s second largest diamond producer, estimated 2020 production will be down 20%.