Signet Jewelers, as part of its effort to support and reinforce its Responsible Sourcing Protocol for Diamonds (D-SRSP), has been working on a project with product-testing firm United Laboratories and the Diamond Producers Association to create a facility for testing synthetic diamond screening equipment, writes Rapaport News.
The U.S. Department of Justice, through its District of Minnesota U.S. Attorney's Office, has announced a federal indictment charging former Scio Diamond Technology Corporation (Scio Diamond) Board of Directors Chairman, Edward S. Adams, with "orchestrating an elaborate fraud scheme to embezzle millions of dollars of investors' funds." The indictment alleges the activity happened between 2006 and 2013. Adams was indicted Wednesday in U.S.
Sarin India, the Indian subsidiary of diamond processing equipment maker and services provider Sarine Technologies, has consolidated its Surat operations in a brand new, wholly-owned, hi-tech facility, the “Sarin House”. The new facility covers 55,000 square feet (5,100 sq.m.) over six floors, housing approximately 400 staff members.
Jewelers around the world have come to realize the mostly untapped potential of the millennial audience, and technology is the most important tool they have at their disposal, writes Martha C. White for JCK.
The Hong Kong Trade Fair serves as the ideal platform for The International Institute of Diamond Grading & Research (IIDGR), part of The De Beers Group of Companies, to unveil its next generation of automated melee screening instruments. The AMS2 will provide diamantaires with a more efficient diamond verification technology solution for melee-sized diamonds. The screener is especially appealing since it also more cost-effective, US$45,000 cheaper than the first generation AMS.
Joseph Lipton, inventor and CEO of VULT - a digital diamond exchange platform seeking to turn diamonds into a true tangible asset class - presented his cutting-edge ideas about the future of global wealth at a very special TEDxFultonStreet Salon about “Things You Can’t Have” with other thought leaders in NYC.
In 2013, Kristall Smolensk diamonds, a Russia-based major polished diamond manufacturer, unveiled a replica of the Great Imperial Crown (it was on display at the Antwerp Diamond Trade Fair in January).
Two professional jewelers are seeking to fill a market need by launching an app for the industry, Jewellery Trader, which gives members of the trade a new tool for sourcing and showcasing jewelry, watches and antiques. It also enables traders to advertise items for sale to consumers. The Jewellery Trader app was designed in an effort to provide an “innovative, cost effective selling tool in an easy to use and manage platform”.
Sarine Technologies, a major player in precision technology products for the planning, processing, evaluation and measurement of diamonds and gems, has appointed David Block as Chief Executive Officer (CEO), effective 1 May 2017. He will succeed Uzi Levami, who decided to step down due to his age (65) and for personal reasons. Levami will continue serving as an Executive Director of Sarine, as well as a Director of all of its subsidiaries.
Avi Krawitz of Rapaport News sat down with Joseph Kuzi, CEO of EGL Asia and director of Diamond Services, a Hong-Kong based synthetics testing facility, to talk about the phenomenon of undisclosed synthetic diamonds. He heard that the technology behind and production of synthetic diamonds is increasing rapidly, and just because we do not hear about every instance where undisclosed mixing of synthetic and natural diamonds is discovered, does not mean it is not widespread.
Sarine Technologies Ltd, a global leader in the development, manufacture and sale of precision technology products for planning, processing, evaluating and measuring diamonds and gems, reports that it has delivered a record 24 Galaxy-family inclusion mapping systems in Q4 2016, bringing the total number of 2016 deliveries to 84 systems (previous record year saw 48 deliveries). This figure also tops their former quarterly record of 22 systems sold in Q3 2016. The majority of machines sold were of the Meteor variety for small stones (0.25 to 0.89 carat).
The American Gem Society Laboratories (AGS Laboratories) announced the release of a new service offering - "Only My Diamond" - that allows suppliers and retailers to present the diamond to their customers by "bringing the grading report to life", and providing complete details on the 4Cs, with visual and descriptive explanations of the diamond characteristics. The service is an interactive online tool on AGSLab.com, providing an enhancement to AGS Laboratories' Diamond Quality Document (DQD) by offering supplementary diamond quality information.
Avi Krawitz of Rapaport News details a decision by the Israel Diamond Exchange (IDE) to enforce a new rule compelling a dealer to cancel the sale of a rough diamond after he failed to disclose that a stone underwent value analysis using a Sarine Galaxy machine. Krawitz has been informed it is the first ever enforcement of new guidelines the World Federation of Diamond Bourses (WFDB) adopted in May aiming to keep a level playing field between both parties trading rough diamonds.
Diamond manufacturing technology company Sarine Technologies announced in a press release the unveiling of it, "new groundbreaking technology for clarity and color grading", which it claims, "will revolutionize the way the diamond industry and consumers perceive clarity grading, and transform the polished sourcing and sorting process ... Technological standardization translates into greater credibility for the industry and increased trust for the diamond consumer." They say while carat size has traditionally been the only objectively measurable factor of the 4C’s in diamond grading, Sarine
Lucapa Diamond Company, the Sydney-listed diamond producer and exploration firm, had started commissioning the modules for the new state-of-the-art XRT processing and recovery stream, a move they announced last summer. The he XRT technology and larger screens (55 mm) recovery and sorting solution will allow recovery of diamonds of up to 1,100 carats. This is the same technology Lucara Diamond used to recover the 1,109-carat Lesedi La Rona.
Current KP Chair Ahmed Bin Sulayem wasn’t the first to contemplate the possibility of integrating blockchain technology in the diamond industry, when he addressed the KP members during the Intersessional meeting last summer. In recent months, the term “blockchain” has been popping up more and more in conversations within the industry, especially on how the technology could increase transparancy, which in turn can for example, optimize operations or enhance a company's bankability.
In a news release, VULT - a digital diamond exchange platform whose, "revolutionary technology turns diamonds into a modern asset class: liquid, portable and fully fungible" - announced: "Secured Worldwide, the creators of VULT, a unique diamond investment product, has won the backing of the Underwriters at Lloyd’s of London for VULT’s warranty of the authenticity of every diamond in VULT units sold to consumers by Secure Worldwide.
Under the slogan, "Bring out any truth hidden behind your jewel that promised natural diamonds", the Dharmanandan Research Centre (DRC Techno) announces the J-Secure synthetic screenig device. Claiming it to be the, "World's first instrument that detects synthetic diamonds in studded jewelry", DRC says it will detect synthetic diamonds as small as in the -2 sieve size (0.003 carats) that have been jewelry. DRC is best known for producing D-Secure, which detects synthetics in loose diamonds.
As announced last week, the Antwerp diamond bourses will make it possible for all its members to avail of HRD Antwerp screening technology at no cost. This initiative adds a second layer of confidence, as polished diamonds imported to Antwerp from India are already checked at AWDC's Diamond Office.
This afternoon, the Antwerp World Diamond Centre (AWDC) hosted a forum organized by the Federation of Belgian Diamond Bourses (FBDB) to tackle the issue of undisclosed synthetic diamonds and address the legal and technical aspects concerning the disclosure of synthetic and treated natural diamonds.
De Beers' International Institute of Diamond Grading & Research (IIDGR) will showcase its PhosView™ screening instrument in the UK for the first time at the UK Jewellery Conference at the East Midlands Conference Centre on October 3-4 2016. The PhosView™ was launched at the Hong Kong Gem & Jewellery Fair from September 14 to 18. Demand for the technology has been "particularly strong in the first two weeks it has been available to purchase," De Beers said in a statement.
Russian mining giant ALROSA introduced an innovative detection device for polished diamonds at the September Hong Kong Jewellery & Gem Fair. According to the press release: As part of the measures to protect the natural diamond market from illegal mixing of natural and synthetic diamonds, ALROSA and the Federal State Bugetary Institution “Technological Institute for Superhard and Novel Carbon Materials” have developed a series of innovation devices for detecting polished diamonds and diamond jewelry.
The Hong Kong Accredited Diamond Exchange (HKADE), backed by a renowned Hong Kong serial entrepreneur Mr. Shih Wing-Ching, provides the first online peer-to-peer (P2P) global diamond marketplace with its reliable verification service and unique features for investment consideration with the support of non-physical settlement, according to a company press release. "There is a big gap between the retail price and resale price of diamonds," Mr. Shih stated. "This is because information about the diamond market is not always clear.
The Federation of Belgian Diamond Bourses has announced an information session on "Disclosure of Synthetic, Treated Natural and Natural Diamonds" to be held on September 29 at the Antwerp Diamond Bourse. The forum will cover the legal framework regarding the disclosure obligation of bourse members, as well as technical information on detection of synthetics, featuring speakers from: HRD Antwerp, GIA and Forevermark/IIDGR/De Beers, followed by a question & answer session.
US aerospace company Lockheed Martin has filed a patent for a new kind of 3D printer. The patent, filed on April 4 by inventor David G. Findley, describes a new way of 3D printing which would use a pre-ceramic polymer and nanoparticle filler to create synthetic diamond objects of just about any shape, says a report in www.3dprintingindustry.com. The main aim of the printer will most likely be to make drill bits, sharp objects and possibly lightweight armor, but will also give jewelry makers untold design possibilities.
“To Tell the Truth” is the tagline of Chow Tai Fook's brand differentiation campaign designed to generate consumer confidence by enabling customers to track the journey of its diamonds from source to finger. Campaign Asia-Pacific writes, "Chow Tai Fook claims to have developed a patented technology that allows it to emblazon each diamond with a 'T mark'", or a unique serial number engraved on each stone, enabling the traceability of the stone from its source through processing, cutting, polishing, authentication and design.
If the interest demonstrated at the "Screening & Identification of Synthetic Diamonds" seminar hosted by GIA at last week's India International Jewellery Show is any indication, undisclosed mixing of synthetic and natural diamonds is of great concern in India. The Tribune India writes, "According to industry sources, many small traders are quietly mixing the lab-cultured stones with natural diamonds and palming the consignment off to unsuspecting buyers.
Rapaport Auctions and Trading issued a press release today offering clients, "the opportunity to purchase parcels of melee that are 100% natural and untreated," and their timing could not be more appropriate. On July 18, Morgan Stanley released a report on the effect of synthetic diamonds on mined diamonds, which says that the share of synthetics is so far negligible, but not for long.
Russian diamond miner ALROSA, the largest diamond miner in the world, has become a partner of the GenerationS-2016 federal accelerator which aids technology startups in Russia and Eastern Europe organized. The best projects selected on the basis of the results of a multi-stage assessment receive intensive development and opportunities to attract new investment. ALROSA will support the Mining&Metals corporate track that combines a wide range of refining technology, processing of precious metals and diamond mining.
Citing a Morgan Stanley & Co. International research report, JCK's Rob Bates writes that synthetic diamonds pose a threat to the diamond industry, in particular to the prices of small 'melee' diamonds, and could turn out to be, “a serious potential disruptor” to the established diamond market.
Several yeas ago, famed diamond house Graff Diamonds came across an opaque 299-carat rough diamond from the Letšeng Mine in Lesotho, owned and operated by Gem Diamonds. HauteTime traces the journey of the 299-carat rough fancy intense yellow diamond into the 132-carat Golden Empress diamond. "Before the rough jewel was cut," writes Roberta Nass, "Graff’s Senior Gemologists spend many months meticulously studying the nuances of the stone, and the risks involved in cutting it. With the study complete, imagination, exceptional skill and intense precision came into play.
Diamond manufacturing technology maker Sarine Technologies has acquired the technology and assets of DiaMining, a developer of Point of Sale (POS) applications for diamonds, gemstones and jewelry. DiaMining's solutions offer retailers and wholesalers advanced state-of-the-art POS solutions that combine comprehensive product information and digital imagery of their choice. DiaMining's apps integrate with many commonly used inventory management systems and can easily be integrated to others, Sarine reported, without revealing how much it paid for DiaMining.
The group of young Zimbabweans were sent as part of an agreement between China and the Zimbabwe School of Mines as part of a bid to add value to the country's rough stones. Under the terms of the deal, 150 Zimbabweans will be sent to China over the next three years in batches of 50 per year. Zimbabwe only has just one diamond polishing center, the privately-owned Zimbabwe Diamond Technology Centre.
Uphold CEO Anthony Watson sheds light on how Financial Technology is finally transforming the legacy financial services industry and why it’s here to stay.
While the Internet has brought tremendous efficiencies to nearly every sector in the economy, the financial services industry remains relatively unimproved. Businesses today, in particular those in the diamond industry, are painfully aware of the lack of transparency, the lack of convenience and online functionality, the lack of interoperability between geographies, and the high fees charged by banks.
HRD Antwerp, Europe’s leading diamond certification authority, has inaugurated its new Mumbai office extension and launched a new melee diamond screening service. At the center of this service is M-Screen, the world's fastest automated melee screening device that screens round brilliant diamonds from 1 point to 20 points for potential lab grown diamonds, potential HPHT colour enhanced diamonds and simulants. The M-Screen automatically feeds, screens and sorts out round brilliant diamonds at a speed of minimum two diamonds per second (7,200 diamonds per hour).
SBS Insurance Services has collaborated with Birmingham City University’s Jewellery Industry Innovation Centre, Cooksongold, and The Assay Office Birmingham to successfully replace a range of bespoke items through the use of 3D printing technology in what is claimed to be the world’s first 3D printed jewelry insurance claim service. Results from the first trials of show that SBS Insurance Services is able to replace items faster and cheaper, with savings of 30-50% compared with High Street prices, according to a report by Professional Jeweller.
De Beers Group's International Institute of Diamond Grading and Research (IIDGR) launched its generic diamond grading program last February, entering "what arguably is the most contentious space in the diamond distribution chain where concerns have grown over grading consistency and standards, or lack thereof, in the past few years," writes Rapaport.
Bart De Hantsetters, Chairman of the Syndicate of the Belgian Diamond Industry, discusses the need to embrace the new forces ‘disrupting’ a traditional business like the diamond trade. The ship of innovation is setting sail with or without you, so it is better to get on board – as Antwerp has – and build the new on the foundations of the old.
The Russian company New Diamond Technology (NDT) yesterday presented an emerald-cut blue diamond, 5.03-carat, VS1 high-pressure, high-temperature (HPHT) type-IIb stone at BaselWorld. It is the largest synthetic blue diamond to date and was certified by the International Gemological Institute (IGI). NDT is one of the founding members of the new International Grown Diamond Association.
HRD Antwerp and the Hong Kong Indian Diamond Association (HKIDA) recently signed an agreement on an exclusive diamond-screening service using the M-Screen. The M-Screen is “the world’s fastest melee-screening device available today,” HRD Antwerp said. The new service will offer the screening of parcels – with a minimum total weight of 10 carats – of melee-sized diamonds from 1 to 20 points and colours D-J straight from HKIDA’s premises in Kowloon.
Nurit Rothmann's most recent blog, entitled “Playing the High Stakes Game with a Marked Deck of Cards,” which considers the lack of transparency in the rough diamond trade as well as measures designed to remedy the situation, has instigated a good amount of debate, much of it positive and constructive. Among the persons who reacted was Ernest Blom, President of the World Federation of Diamond Bourses, who requested that his response be published:
Two financial technology players are trying to entice the 1,700 Antwerp diamond companies to leave traditional banks behind and partner with them for making international payments. Some 200 diamantaires – Indian and Jewish traders alike – recently sat down together in the Antwerp Diamond Club for a seminar to introduce Uphold and FX4BIZ, two ‘fintech’ companies that would like to conduct the diamantaires’ international payments.
"The industry has been working with 3D technology in fine jewelry for some time," writes Rachel Taylor for The Jewellery Editor, "yet breakthroughs in technology now mean that we can print a variety of 3D objects at home - including solid gold jewelry." Computer-aided design (CAD) allows jewelers to make sketches using computer programs rather than by hand, which can then be fed into 3D printing machines that build 3D models of the jewel.
Professional Jeweller reports that the London Diamond Bourse (LDB) has launched its first online diamond stock platform, created to enhance membership benefits and improve the searchability of diamond dealers’ stock. The online platform, run from the LDB’s website, allows members to quickly and easily search for stones from fellow members.
The honeymoon between global regulators and the fast-growing world of financial technology may be ending. The Financial Stability Board (FSB), the international group of regulators, is considering rules to prevent newfangled technologies from destabilizing the financial system.
JCK devotes an extensive article on tips and tricks for jewelers to maximize the power of Instagram, “social media’s most jewelry friendly marketing tool”. More than any other social media platform, Instagram is focused on visuals, and thus a perfect match with jewelry items. But Martha C. White argues Instagram requires a very different approach compared to traditional ads and sums up the essentials on using instagram successfully, such as using pictures and background styling that help to tell a story that goes beyond the jewelry item itself.
Richard S. Garard, the secretary general of the International Grown Diamond Association, an umbrella organization for the lab-grown diamond industry launched earlier this month, answers questions from JCK's Rob Bates on the goals of the group. Among the issues are "properly representing the grown diamond industry, being clear about the properties, the material itself, and to help grow the industry". He said lab-grown diamonds are an "add-on market for the industry. For the foreseeable future, we are a small portion of diamond output.
With a touch of hyperbole, The Times of India writes that, "a fierce marketing battle is on the cards between companies making lab-grown diamonds and those producing natural ones to woo consumers across the globe" as demand for diamonds stagnates.
Professional Jeweller reports that the London Diamond Bourse (LDB) has partnered with De Beers' International Institute of Diamond Grading & Research (IIDGR) to launch a diamond grading and melee screening lab service in the UK. The agreement between LDB and IIDGR commences a new service that will enable members to submit to the IIDGR lab melee for full testing as well as diamonds over .14ct for grading. Victoria McKay, chief operating officer of LDB explains: “Guidance will be recommended to all LDB members to test melee using the mathematically based De Beers, ‘Best Practice
More than 10 leading grown diamond producers, distributors and retailers have come together to launch the International Grown Diamond Association (IGDA). The association aims to represent the grown diamond industry, promote grown diamonds as a new choice in diamonds and educate about various unique qualities and applications of grown diamonds. Founded in the U.S., the IGDA seeks to serve as the central point of communication, education, development and growth of the industry.
Scio Diamond Technology Corp, which produces lab-grown Type IIa single-crystal diamonds, has received its 28th U.S. patent for what it describes as its unique process to grow diamonds that are chemically, physically and optically identical to mined diamonds. The newest patent is for Gemstone Production from Chemical Vapor Deposition (CVD) Diamond Plate and was granted on January 5, the firm said in a statement.
The Antwerp World Diamond Centre (AWDC) has announced a new pilot project with two FinTech (financial technology) companies - Uphold and FX4BIZ - to offer the diamond industry in Antwerp international transactions across multiple currencies that are fast, transparent and instant. Sixty diamond companies may sign up for these two pilot projects that will run for a full year.
In a contribution on the Fancy Color Research Foundation (FCRF) website, Chief Scientist of the Diamond Durability Laboratory, Daniel Howell brings a widespread misconception to the attention on what many assume to be bubbles of air or gas trapped inside rough diamonds. The misconception has led some manufacturers to drill release channels, fearing the trapped gas may cause the rough diamond to explode during polishing.
On 12 January, Element Six Technologies, a subsidiary of De Beers, initiated legal action in Singapore against IIa Technologies alleging infringement of its patents concerning synthetic diamond material. Element Six believes that certain of its patents for proprietary synthetic diamond products and their method of manufacture have been infringed and the legal action aims to defend its intellectual property rights and business interests.
De Beers Group CEO Philippe Mellier highlighted in a keynote speech to Britain’s top engineers the role that innovative engineering plays in the modern diamond industry. “The story of diamonds is a story of engineering,” he told the Royal Academy of Engineering. One pioneering development he featured was De Beers’ SQUID (Superconducting Quantum Interference Device), airborne technology that works in places where traditional survey systems struggle to operate. SQUID – an industry first – records how components of the earth’s magnetic field change in different directions.
On the eve of the January 18 public launch of the first diamond backed cryptocurrency in the world, the PinkCoin, by Precious Investments (OTC Markets: PNIK) and its subsidiary BitGem Asset Management Ltd. (BAM), fancy colored diamond investment consultant Yaniv Marcus has raised multiple red flags about the investment scheme, warning of a potentially major scam. "Precious Investments Inc. is continuing to mislead investors with innovation and a colorful website.
Two companies behind the world’s first diamond-backed ‘cryptocurrency’ will start selling the digital currency on January 18. The asset class being used is colored diamonds, which the founders of the PinkCoin say have not lost value since tracking began in 1959. Precious Investments and its subsidiary BitGem Asset Management (BAM) will launch the PinkCoin crowdsale – a crowdfunding process in which investors acquire PinkCoin tokens – on January 18.
Diamond manufacturing technology maker Sarine Technologies reports that the holiday season in the key U.S. diamond jewelry market, which accounts for sales of approximately 40% of worldwide demand, "has overall been positive, with sales generally meeting or exceeding expectations. Furthermore, wholesale buying for the Chinese New Year has commenced positively. There have thus developed, as we had previously surmised, distinct shortages of high-demand goods, primarily in the size range of 0.3 – 2.0 carats, Colors of D – H and Clarity grades of SI1 – I2 (often referred to as U.S.