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World Diamond Conference India
Normalizing the Diamond Trade
The World Diamond Conference that took place last week in New Delhi, India, created a buzz in the industry that, frankly, needed a bit of a pick-up considering the state of the market. It’s not often that...
Polished Markets Dec 19, 2014 Avi Krawitz
Turkey Signs Tax Exemption Law
Turkey Abolishes 20% Tax on Polished Diamonds
Turkey has abolished a 20 percent special consumption tax on polished diamonds, officials confirmed with Rapaport News. The new tax regime has been in effect since mid-September when the new legislation was implemented. In addition,...
Polished Markets Dec 16, 2014 Avi Krawitz
Thierry Silber
Consumers Starting to Embrace Lab-Grown Diamonds
Diamaz International is an Antwerp-based distributor of natural and laboratory-grown diamonds. As a proponent of creating better structures in the lab-grown diamond sector, the company believes the natural diamond trade needs to embrace its lab-grown counterparts to effectively combat...
Polished Markets Dec 07, 2014 Avi Krawitz
World Diamond Conference India
President Putin, Prime Minister Modi to Address World Diamond Conference
Russia’s President Vladimir Putin and India’s Prime Minister Narendra Modi will inaugurate the World Diamond Conference taking place in New Dehli on December 11 and 12. Organizers confirmed that the two leaders will...
Polished Markets Dec 07, 2014 Avi Krawitz
Diamonds in Hand
The Diamond Decade So Far
This was supposed to be the diamond decade. Back in 2010, De Beers executives were touting that the coming 10 years would bring unprecedented demand and growth to the industry. Almost halfway through, it feels anything but,...
Polished Markets Dec 05, 2014 Avi Krawitz
Liqhobong
Firestone on Track to Commence Liqhobong Production in 2Q 2016
Firestone Diamonds expects to resume production at the Liqhobong mine in Lesotho in the second quarter of 2016 following a major overhaul of the project. The company confirmed that it is on time and within budget for the mine development...
Mining Dec 02, 2014 Avi Krawitz
Features Icon
A More Accessible De Beers
De Beers Global Sightholder Sales office in Gaborone. Photo courtesy De Beers. Upon arriving at Gaborone’s Sir Seretse Khama International Airport, travelers are welcomed with the traditional Tswana greeting, “Dumela, Welcome to Botswana.” For sightholders,...
Magazine-Industry Dec 01, 2014 Avi Krawitz
Features Icon
Botswana’s Diamond Landscape
Jwaneng Mine Suddenly, everything seems bigger in Botswana’s diamond industry. The country has seen monumental growth during the past year across its mining operations, cutting and polishing sector, trading and rough...
Magazine-Industry Dec 01, 2014 Avi Krawitz
Trade Report Icon
Liquidity Concerns Rising
Polished diamond markets were cautious in November as suppliers lowered their prices in order to improve cash flow. Indian dealers returned from their Diwali break in mid-November pressured by liquidity issues that remained the biggest challenge...
Magazine-Industry Dec 01, 2014 Avi Krawitz
Marcel Pruwer
Positioning Antwerp for Growth
The Antwerp Diamond Bourse is one of four bourses which make up the Federation of Belgium Diamond Bourses. Challenged by competitive new trading centers and volatile market conditions, the bourse is at the heart of efforts to grow Antwerp’s...
Polished Markets Nov 30, 2014 Avi Krawitz
Lerala
Kimberley Diamonds Obtains Lerala Environmental Impact Assessment
Kimberley Diamonds has received authorization for its environmental impact assessment at the Lerala mine in Botswana. The Botswana Department of Environmental Affairs approved and transferred the authorization to Kimberley Diamonds, having previously approved the...
Mining Nov 30, 2014 Avi Krawitz
Shopping Mall
ShopperTrak Notes Spike in Thanksgiving Day Shopping
ShopperTrak noted shifting shopping patterns over Thanksgiving weekend as more stores opened again on what typically was a non-retail day, and majors opened even earlier than they had in 2013. Store visits on Thanksgiving Day...
Retail Nov 30, 2014 Avi Krawitz
Cutting Wheel
Diamond Cycles
Believe it or not, the fourth quarter is traditionally a slow period for the diamond trade. That may be a stark realization for some, especially on the eve of Thanksgiving weekend that signals the start of the Christmas shopping...
Polished Markets Nov 28, 2014 Avi Krawitz
Diavik Diamond Mine, Courtesy: Diavik Diamond Mine
Rio Tinto Approves $350M A21 Development at Diavik Mine
Rio Tinto approved the development of the A21 kimberlite pipe at the Diavik mine in Canada’s Northwest Territories. The project carries an estimated cost of $350 million and will take four years to complete, Rio Tinto...
Mining Nov 27, 2014 Avi Krawitz
ALROSA's Udachniy mine
ALROSA Posts $223M Loss in 3Q
ALROSA reported a loss of $223 million (RUB 10.3 billion) during the third quarter that ended on September 30, primarily due to foreign exchange losses. ALROSA posted a profit of $180 million (RUB 8.3 billion) the...
Mining Nov 26, 2014 Avi Krawitz
Chow Tai Fook Store
Chow Tai Fook's 1H Revenue -22%
Chow Tai Fook reported that revenue fell 22 percent year on year to $2.88 billion (HKD 29.32 billion) in the six months that ended on September 30, 2014 as gold sales failed to keep pace with last...
Retail Nov 25, 2014 Avi Krawitz
swiss watch
Swiss Watch Exports +5% in October
Swiss watch exports rose 5.2 percent year on year to $2.34 billion (CHF 2.27 billion) in October, representing a record level for a month, according to the Federation of Swiss Watches. Exports by volume rose 4.5 percent to 2.881...
Gemstones Nov 24, 2014 Avi Krawitz
India sign - iijs
India's Oct. Polished Exports -15%
India’s polished diamond exports fell 15 percent year on year to $2.219 billion in October, according to data published by the Gem and Jewellery Export Promotion Council (GJEPC). By volume, exports dropped 16 percent to 3.786 million carats, while...
Polished Markets Nov 23, 2014 Avi Krawitz
Ekati Mine
Dominion's 3Q Sales Jump on Higher Ekati Production
Dominion Diamond Corporation’s sales jumped an estimated 47 percent during the third quarter that ended on October 31 due to increased production at the Ekati mine.The company reported total sales of $222.3 million, which included proceeds from...
Rough Markets Nov 23, 2014 Avi Krawitz
Grib Mine
Grib Diamonds for Grabs
The Grib diamond mine in Russia, owned by the somewhat unlikely candidate of oil supplier Lukoil, is arguably the most prospective of the new generation of diamond mines. Therefore, its launch of commercial mining earlier this year...
Mining Nov 21, 2014 Avi Krawitz
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