ALROSA reports its May 2021 diamond sales results

ALROSA reported preliminary rough and polished sales results for May 2021. ALROSA sales of rough and polished diamonds in May totaled $365 million, including proceeds from rough diamond sales of $346 million, and polished diamond sales of $19 million...

11 june 2021

Botswana Diamonds’ Thorny River discovery advances towards resource assessment

The AIM and BSE listed diamond explorer, Botswana Diamonds says it has advanced towards resource assessment at its Thorny River diamond project, in South Africa.

11 june 2021

Chow Tai Fook’s profit up by 107% in FY2021

Chow Tai Fook Jewellery Group’s annual results for the fiscal year 2021 showed the company’s profit grew by 107.7 per cent to $775.83 mn. This was a considerable improvement from a loss of 36.6 per cent in FY2020.

11 june 2021

World’s first regulator-approved diamond coin launched

New diamond coin is pitching itself as an alternative commodity for investors to purchase instead of gold bullion. International Gemological Institute (IGI), which provides grading for gems and jewellery grading, has joined hand with Diamond...

11 june 2021

Namibia blocks Namdia proposal to appoint a diamond evaluator

Namibia’s mines ministry has blocked the state-owned Namib Desert Diamonds (Namdia) chief executive Kennedy Hamutenya’s proposal to appoint his sales manager to replace C-Sixty Investment as the company’s diamond valuator.

10 june 2021

How Chow Tai Fook became one of the biggest gold and jewellery chains in the world

19 february 2021

(South China Morning Post) - Chow Tai Fook was founded in 1929 in Guangzhou, in southern China, by Chow Chi-yuen, a native of Shunde, a town 45km (28 miles) to the south of that city; in those days, it operated solely as a goldsmith. In 1938 the company opened its first shop in Macau, then one in Hong Kong the following year. It was in 1956 that the company really started to expand under the control of Cheng Yu-tung, son-in-law of Chow, who had taken him on as a penniless apprentice. Cheng, who died in 2016, went on to become Hong Kong’s third-richest person. Cheng was the central figure in the success of the company, transforming Chow Tai Fook from a shop selling bullion and traditional gold accessories to a jewellery retailer in the modern sense, and expanding into a host of other businesses, many of which his companies are still involved in today, including property (New World Development), hotels (in particular the Rosewood group), energy, aviation and urban transit (Citybus and New World First Bus). Today Chow Tai Fook employs more than 28,100 people and deals with about 6,000 suppliers.