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Polished Markets
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Jun 20, 2012
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Rapaport News
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U.S. Jewelry Store Sales +3% in October
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U.S. jewelry store sales during the month of October, which is the most recent reporting period for this niche sector, rose 3 percent to $2.026 billion, according to government figures. Jewelry sales data lags one...
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Research
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Dec 13, 2011
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Jeff Miller
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Russia Debates Selling Diamond Stockpile
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The Russian State Treasury may sell some of its diamond stock on the open market so that rough prices won't go up due to speculative demand and the shortage of rough. The two issues were debated during the 34th World Diamond Congress in Moscow. “The government of Russia decided...
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Rough Markets
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Jul 12, 2010
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Anastasia Serdyukova
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Firestone Commences Production at BK11
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Firestone Diamonds commenced phase-one production at its BK11 kimberlite property in Botswana through its subsidiary, Monak Venture. The mining company has 20 such properties in the Orapa area, 13 of which are proven to be diamondiferous, with BK16 identified as the most advanced, according to Firestone. The evaluation of satellite kimberlites...
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Mining
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Jul 12, 2010
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Jeff Miller
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Namdeb, Workers Reach Wage Agreement
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A mass strike at Namdeb has been averted following a wage agreement between the diamond mining company and the Mineworkers Union of Namibia (MUN).MUN, which represents 1,132 of the company’s 1,600 workers, gave Namdeb 48 hours notice of its intention to strike, as required by law, last week. However, Deputy...
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Financial-Legal
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Jul 12, 2010
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Deena Taylor
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Amnesty Intl. Calls for Maguwu's Immediate Release
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Press Release: Amnesty International today called upon the government of Zimbabwe to release an activist, Farai Maguwu, who was detained after he exposed human rights violations in the country's Marange diamond fields. The organization said it considers Maguwu a prisoner of conscience who is being persecuted for documenting abuses...
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Fair Trade
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Jul 06, 2010
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Amnesty International
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Rapaport Weekly Market Report 07/02/2010
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Between the LinesShow Time: Prices in Hong Kong Rise, But Not to the Level of Cutting CentersThere were mixed reports from the June Hong Kong Jewellery & Gem Fair 2010, with the overall feeling being that sales there improved against last year. Buying...
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Research
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Jul 02, 2010
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Avi Krawitz
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Fair Trade
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Jul 02, 2010
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Jeff Miller
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Market Comments 7/1/2010
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Trading centers stable. Buyers at June Hong Kong show edge up on prices but still resist high seller asking prices. Zimbabwe cabinet approves illegal Marange rough sales with KP certificates and government agency says it already sold $23m worth in 2010. Botswana approves rough tenders from...
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Polished Markets
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Jul 01, 2010
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Mining
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Jul 01, 2010
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Rapaport
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Just Say No
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When former First Lady Nancy Reagan embarked on a campaign to fight the war on drugs, rather than legalize the use of harmful substances, she championed a drive to resist their temptations that would span decades. In the past few weeks, proponents of legitimizing Zimbabwe’s Marange diamonds have argued...
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Fair Trade
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Jul 01, 2010
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Avi Krawitz
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ALROSA Opens Up
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The possibility of ALROSA going public is in the headlines again as the company’s management works through the process of changing from a closed joint-stock company (CJSC) to an open one. “The first step is just to transfer ALROSA into an OJSC [Open Joint-Stock Company] without issuing additional shares; the second...
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Rough Markets
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Jul 01, 2010
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Anastasia Serdyukova
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Moving onto the Global Stage
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Jewelry buying in India is undergoing a gradual change. Consumers are no longer shying away from investing in diamond and gold jewelry, despite the price increases. The situation was not the same a year ago, when the purchase of jewelry was on no one’s agenda because of high prices. What...
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Polished Markets
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Jul 01, 2010
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Zainab S. Kazi
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DRC Pledges Better Governance
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Democratic Republic of the Congo (DRC) President Joseph Kabila pledged to improve his country's business climate following critical remarks made by the Group of Eight (G8) regarding how his nation handles its natural resources. This past weekend, the G8 nations declared that illicit exploitation of,...
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Fair Trade
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Jun 30, 2010
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Jeff Miller
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UN Extends Mandate of Cote d'Ivoire Forces
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The United Nations Security Council (UNSC) expanded its mandate for the United Nations Operation in Côte d’Ivoire (UNOCI) and the French forces supporting it and extended the mission through the end of this year. UNOCI and France's mandate is to monitor armed groups in Côte d’Ivoire,...
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Financial-Legal
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Jun 30, 2010
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Jeff Miller
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Lucara, Botswana Form Marketing Arrangement
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Lucara Diamond and its partner African Diamonds completed a marketing arrangement with Botswana through their joint-venture company, Boteti, wherein production from the AK6 project may be sold through either open tender or exclusive contract. Lucara, the AK6 project operator, holds a 60 percent interest in Boteti,...
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Mining
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Jun 29, 2010
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Jeff Miller
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Charm Diamond Centres to Offer Ontario Diamonds
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Charm Diamond Centres in Nova Scotia received the right to carry diamonds mined, cut and polished in Ontario, Canada. The company's diamonds are mined at the De Beers Victor mine and then cut and polished by Crossworks Manufacturing in Sudbury. The finished stones will be sold at select Charm...
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Retail
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Jun 29, 2010
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Jeff Miller
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IDMA Sets Agenda for World Diamond Congress
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The International Diamond Manufacturers Association (IDMA) set its agenda for the upcoming 34th World Diamond Congress to be held in Moscow from July 11 to July 13. Given the lack of consensus on Zimbabwe following this past week's Kimberley Process (KP) meeting in Tel Aviv, the issue of diamonds...
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Manufacturing
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Jun 29, 2010
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Jeff Miller
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No Bribe Ever Suggested, Say Global Witness, PAC
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Kimberley Process (KP) Civil Society members Global Witness and Partnership Africa Canada (PAC) categorically rejected allegations that they offered to support Zimbabwe’s bid to resume diamond exports in exchange for a 1 percent cut of the profits. The bribe allegation surfaced at the end of the week-long meeting...
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Fair Trade
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Jun 28, 2010
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Jeff Miller
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Rapaport Weekly Market Report 06/25/2010
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Between the LinesRough Market: Namdeb Production Rise in ContextNamibia’s rough diamond production rose 102 percent year on year in the January through May 2010 period to 580,000 carats, the country's Ministry of Mines and Energy reported. During the comparable period of last year, however, Namdeb, the...
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Research
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Jun 25, 2010
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Avi Krawitz
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