Archive

  • According to industry insight data published today by De Beers Group, the shifting dynamic of women’s expanding roles in society and changing perceptions of femininity are creating new motivations of diamond jewelry acquisition. Social and economic changes have expanded the symbolism of diamond jewelry, women are now more empowered which has led to record levels of self-purchase, as well as the establishment of a new consumer type.

  • The Russian government wants Alrosa to offer more favorable terms to local cutters so they are able to compete in a market that’s dominated by Indian manufacturers.

    Alrosa has chosen to focus on mining, where it can get bigger margins, leaving Kristall Production Corp. and other cutters to buy stones at similar terms as overseas competitors. They are struggling to compete with centers like India, the largest polishing center, due to manufacturing being cheaper - it manufactures 90% of the world’s diamonds - and a workforce of 1 million.

  • This week, the Antwerp World Diamond Centre and the University of Antwerp hosted an “Innovation and Diamonds” conference at the Antwerp Diamond Bourse, featuring specialists from across the entire spectrum of the diamond trade, from mining to blockchain tech.

  • Independent analyst and consultant on diamonds and the mining industry, and publisher of the Zimnisky Global Rough Diamond Price Index, Paul Zimnisky has published an in-depth article on the current state of lab-created diamonds and where the industry goes from here. Reprinted from Paul Zimnisky Diamond Analytics, courtesy of Paul Zimnisky.

  • According to yesterday’s media release, De Beers’ rough diamond 7th sales cycle fell by 12% to $505 million, from July’s $576 million. This represents a 21% decrease over rough diamond sales valued at $539 million at Sight 7 a year ago. For the first six cycles of the year to date, De Beers' rough diamond sales are valued at $3.50 billion, a 1.5% decline compared to the $3.56 billion sold during the first six cycles of 2016. 

  • The De Beers Group today announced it will invest more than $140 million in marketing this year - its biggest spend since 2008, when the Group was spending an estimated $100 million annually. The increased investment will be focused on generating further consumer demand for diamond jewellery in the leading markets globally, with the greatest spend targeted in the US, China and India, the company states.

  • KRC Research conducted an online survey on behalf of the Diamond Producers Association (DPA) regarding US millennial women’s views on luxury goods. The results highlighted three major trends: Long term value both financially and emotionally, Pride in legitimacy of the goods purchased and the expression of self-confidence.

  • The Botswana Government, through the Ministry of Investment, Trade and Industry, today signed a Memorandum of Understanding (MoU) with Anglo American, Debswana and De Beers Global Sightholder Sales to underpin the continued expansion of the Tokafala Enterprise Development program, according to a De Beers Group press release. The partnership to implement a 3-year program builds on Anglo American’s extensive experience and successes in enterprise development, tailored to the specific Botswana context.

  • De Beers Group announced in a press release today that its Auction Sales business will run further polished diamond auctios in August, following the success of the initial events in late June. The events marked a new departure for De Beers, auctioned polished stones from their own rough diamonds, as well as auctioning off third-party diamonds. They say that customer response to the initial auction events in June was positive, with the auction featuring diamonds polished directly from De Beers-mined rough diamonds representing the majority of lots successfully sold.

  • De Beers rough diamond sales at Sight 6 (Global Sightholder Sales and Auction Sales, July 24-28) provisionally totalled $572 million, according to today's media release. This represents an 8% increase over rough diamond sales valued at $528 million at Sight 6 2016, and a nearly 6% increase over the latest sales Cycle 5 (June 12-16, 2017). For the first six cycles of the year to date, De Beers' rough diamond sales are valued at $3.50 billion, a 1.5% decline compared to the $3.56 billion sold during the first six cycles of 2016. 

  • Namibian rough diamonds are known for their high quality; mining these quality goods also costs a premium.

  • De Beers and parent company Anglo American (AA) today announced their interim financial results for the six months ended 30 June 2017, with the diamond giant reporting a mixed bag while the diversified miner saw its massive restructuring bear fruit. De Beers underlying financial result were positive, as Underlying EBITDA (earnings before interest, taxes, depreciation, and amortization) increased by 3% to $786 million (H1 2016: $766 million), capital expenditure (Capex) dropped significantly and its return on capital employed (ROCE) for the year increased from 7 to 11%.

  • De Beers' rough diamond production for Q2 2017 increased 36 per cent to 8.7 million carats, which is in line with the higher production forecast for 2017 and reflects stable trading conditions as well as the contribution from the ramp-up of Gahcho Kué in Canada to nameplate capacity, report De Beers/Anglo American in a press statement. Second quarter production in Canada increased almost six-fold to over 1.0 million carats from 147,000 carats, with a total of 831,000 carats from Gahcho Kué (51% share) and 182,000 carats from their Victor mine.

  • Anglo American plans to redevelop the historical premises of its De Beers diamond unit after choosing the building as its preferred option for a new London headquarters, write Jack Sidders and Thomas Biesheuvel for Bloomberg. Citing people with knowledge of the plan, they write that AA intends to modernize the Charterhouse Street property and then transfer staff there from its current premises near Buckingham Palace. The decision is subject to Anglo winning planning and regulatory approvals for the project, two of the people said.

  • Botswana's Debswana Diamond Mining, a joint venture between De Beers and the southern Africa country's government, plans to extend the lifespan of its Jwaneng mine beyond 2024, reports Reuters Africa, citing a mines minister. The project, known as "Cut 9", has been under discussion for five years as part of the Jwaneng Resource Extension Project. This Project led to the development of Cut 8, the $3 billion expansion project designed to prolong the Jwaneng Mine an additional 7 years, ensuring continuous production until at least 2024 and producing 100 million carats.

  • Mountain Province Diamonds' fifth diamond sale of diamonds from the Gahcho Kué mine in Canada was its best to date, setting new highs in overall revenue, carats sold and price per carat. The junior miner sold 220,000 carats at its June tender in Antwerp, earning $2.1 million for an average price of $95 per carat, a solid increase from the $72 and $86 per carat earned respectively in sales 1-3 and 4. 

  • De Beers Group’s latest announcement is the creation of De Beers Ventures, a separate platform which considers the acquisition of minority equity stakes in start-ups and growth companies related to the Group's core business.

  • De Beers sold $530 million worth of rough diamonds at the fifth sales cycle of 2017 (Global Sightholder Sales and Auction Sales), marking a 1.5% increase over Cycle 4 ($522 million) and a 6% drop from Cycle 5 in 2016.

  • Rapaport News has obtained a letter from De Beers to its clients informing them that they will close its auction-sales office in Dubai due to declining demand from local companies. According to the letter, De Beers will terminate its Dubai rough auctions on July 31, meaning De Beers will no longer display rough diamonds there from the year’s sixth sales cycle onward.

  • The world’s largest and most advanced diamond exploration and sampling vessel, the mv SS Nujoma, is ready to start exploring for diamond deposits in Namibian waters, following its official inauguration today, writes De Beers in a press release.

  • De Beers today announced that on June 29 it will continue to broaden its portfolio of services by holding its first auction featuring third party exceptional diamonds via the De Beers Auction Sales platform; this is the same day as the first auctions of De Beers Group’s own polished diamonds, manufactured directly from its own rough. The separate auctions will be held back-to-back, allowing buyers to source all polished on one day.  De Beers Auction Sales will grant access to its expertise, technology and distribution network to undertake sourcing and sales of polished stones.

  • Diversified miner and 85% owner of De Beers, Anglo American, has appointed Stuart Chambers to succeed John Parker as the miner's next chairman and carry on with its overhaul, the company announced in a press release. Mr. Chambers does not bring mining experience to Anglo; rather he was Chairman of UK-based IT and IP (intellectual property) firm ARM Holdings and of multinational consumer packaging company Rexam plc (now Ball Corporation) until 2016.

  • The International Institute of Diamond Grading & Research (IIDGR), a De Beers Group company, has entered a partnership with one of Japan’s leading bridal jewelry retailers, I-PRIMO, to provide polished diamond grading reports. The reports will provide assurance to I-PRIMO customers that their diamonds meet the retailer’s strict quality standards, writes De Beers in a press release. I-PRIMO only uses loose diamonds that have been graded as ‘excellent’ for engagement rings and all melee diamonds must meet ‘Heart & Cupid’ grading standards.

  • In their recent addition to the Diamond Insight reports focusing on diamond jewelry demand and emerging trends, De Beers said it expected single women's acquisitions and spend to increase in 2017, leading to an increase in self-purchasing in non-bridal, discretionary jewelry categories, driving incremental demand above and beyond the fundamental driver of demand, namely, bridal diamond jewelry.

  • The JCK show in Las Vegas serves as the ideal platform for the International Institute of Diamond Grading & Research (IIDGR), part of the De Beers Group of Companies, to unveil SYNTHdetect, the first synthetic screening device in the industry to test multiple stones in set jewelry at once. The screener is able to do so without the need for a probe and has the industry’s lowest referral rate at around 0.05%.
     

  • According to industry insight data published today by De Beers Group, "U.S. Diamond Jewelry Demand Hits US$41 Billion High", total diamond jewelry demand from US consumers increased 4.4 per cent in 2016 to exceed US$40 billion for the first time. While slower US GDP growth in the first quarter of 2017 is likely to have impacted diamond jewelry demand in the short term, the US has recorded five years of consecutive demand growth. US consumers now account for roughly half of all diamond jewellery purchases globally – a level not seen since before the financial crisis.

  • Mountain Province Diamonds, a 49% participant with De Beers Canada in the Gahcho Kué diamond mine located in Canada’s Northwest Territories, has unearthed the largest stone thus far produced by the mine: an 84.65 carat gem quality diamond. It also announced the recovery of a 53.90 carat gem quality diamond. The joint venture partners bid for the production of fancy coloured and special (+10.8 carat) diamonds on almost a monthly basis.

  • De Beers has no exclusive right to mine diamonds in Namibia and cut them. Alrosa can also participate. We made the first step and offered development of the joint sales system to the Namibian party. Namibia is gradually parting with De Beers and attempting to sell gems independently.

    - Deputy Prime Minister Yuri Trutnev on Russian diamond miner Alrosa cooperating with Namibia on diamond sales

     

  • According to a report by Martin Creamer in Mining Weekly Online, South Africa's Minerals Minister Mosebenzi Zwane has taken the seemingly odd decision to deny diamond mining company De Beers Consolidated Mines (DBCM) an exemption from a 5% levy on exports of rough diamonds to Botswana for aggregation.

  • Forevermark diamond, part of the De Beers Group, announced it had inscribed its two millionth diamond, a 3.48 carat round brilliant which now bears the unique inscription of ‘2,000,000’. The diamond was mined, cut and polished in Namibia, then inscribed in the Forevermark Diamond Institute in Surat and will be set in a piece of jewelry at the Forevermark Design innovation Centre in Milan, Italy.

  • Diamond miner De Beers Thursday announced it will start a pilot project in June, selling polished diamonds, manufactured directly from the company’s rough by third parties to registered De Beers Auction buyers. The polished goods will be accompanied by grading reports from both De Beers’ own International Institute of Diamond Grading & Research (IIDGR) and the Gemological Institute of America (GIA).

  • De Beers Group today announced the value of rough diamond sales (Global Sightholder Sales and Auction Sales) for the fourth sales cycle of 2017, provisionally valued at $520 million. The fact that sales remain solid as the summer slowdown looms indicates continuaing upbeat sentiment in the manufacturing sector, spurring demand. Cycle 4 sales were down 11% from the revised figure of $586 million sold at the last sight (contract sales session) and slipped 18% from the fourth cycle a year ago.

  • This article is reprinted from Paul Zimnisky Diamond Analytics, courtesy of Paul Zimnisky.

  • De Beers Group has announced it is leading a ground-breaking research project that aims to deliver carbon-neutral mining at some of the company’s operations in as few as five years. The company’s scientists are working in close collaboration with a team of internationally-renowned scientists to investigate the potential to store large volumes of carbon at its diamond mines through the mineralisation of kimberlite ‘tailings’, the material that remains after diamonds have been removed from the ore. De Beers Group will investigate the storage potential across its diamond mines globally.

  • The International Institute of Diamond Grading & Research (IIDGR), part of De Beers Group, today announced the launch of a world-first Synthetic Diamond Detection training course. It is the first in a series of education services to be rolled out during 2017, according to a press release. The two-day lab-based course will be unveiled in the U.S. towards the end of the JCK Jewelry show in Las Vegas on 8 and 9 June, and in India at the IIDGR Facility in Surat on 15 and 16 May.

  • Mountain Province Diamonds announced the production for the first quarter ended March 31 from the Gahcho Kué Diamond Mine. The GK Mine declared commercial production on March 1. For the three months ended March 31 the GK Mine treated approximately 492,000 tons of ore through the process plant and recovered approximately 867,000 carats on a 100% basis for an average grade of approximately 1.76 carats per ton.

  • The Diamond Producers Association (DPA) announced their intention to spur demand in the third largest diamond market, India, by launching their “Real is Rare” slogan in September. The DPA - an international alliance of the world’s leading diamond mining companies whose mission is to protect and promote the integrity and reputation of diamonds, and the diamond industry - initially launched its “Real is Rare” campaign in the U.S. in 2016.

  • Diversified miner Anglo American has released its Q1 2017 production report, announcing De Beers rough diamond production during the peariod increased by eight per cent over Q1 2016 to 7.4 million carats, "reflecting the contribution of Gahcho Kué in Canada, as well as increases in response to improved trading conditions." Q1 2017 production fell slightly from 7.8 million carats produced in Q4 2016.

  • The De Beers Group made headlines last month when it announced the end of its joint venture with LVMH with the aquisition of their 50% share in De Beers Diamond Jewellers (DBDJ), a move that Chaim Even-Zohar characterizes as, "brilliant and long overdue." He writes, "With De Beers at the helm, the venture will get a realistic chance to succeed.

  • Last week, BloombergMarkets reported that Anil Agarwal - the founder and controlling shareholder in Indian resource giant Vedanta Resources Plc. - paid $2.5 billion for 13 percent stake in Anglo American, a transaction that immediately made him Anglo’s second-biggest shareholder.