Sarine Technologies announced the French High Jewelry Maison Boucheron is launching a new fully-traceable bridal jewelry line, Etoile de Paris, for which it has partnered with Sarine to provide Boucheron-branded digital diamond reports "powered by Sarine".
Closing its latest sale in Antwerp yesterday, Grib Diamonds reported selling 560,000 carats of complete mine production from the Grib Diamond Mine, for a total of US$73m. The average price was US$130/ct, up a whopping 35% compared to the recent sales results of the same production by Stargems in Dubai, which achieved US$94/ct just two weeks ago.
Grib stated to be pleased with the support of over 300 customers present in the auction, with a record demand of 174 companies placing competitive bids. There were 47 winners and a total of 4,870 bids added.
Russian diamond miner ALROSA reported the company’s diamond production equaled 32.4 million carats in 2021. They sold 45.5 million carats with proceeds equaling $4.2 billion, $4 billion from rough and $200 million from polished diamond sales. Gem-quality diamonds accounted for 67% of total sales. In 2021, revenue per carat for these gem-quality diamonds equaled $128, a year-on-year increase of 17%.
De Beers Group announced that Stephen Lussier, executive vice president for brands and consumer markets, will step down from his executive responsibilities on April 1. After a distinguished 37 year career with the company, he will continue to contribute to De Beers as a strategic advisor. He will remain in his role as a Chairman of the Natural Diamond Council.
This summer, French luxury house Balmain will debut their first fine jewelry collection of gender-neutral and socially conscious pieces. The company shared they would use ethically sourced 18-karat gold, “conflict-free minerals”, and traceable gemstones.
Petra Diamonds’ H1 FY 2022 figures (July – December 2021) show the revenue of the diamond mining company went up 49% to $264.7 million compared to the same period last year. This strong result was particularly driven by the sale of Exceptional Stones totaling $77.9 million, but also supported by the strong diamond market with rough prices going up.
Exceptional Stones sales results:
Auction house Sotheby’s announced an extremely rare black diamond of 555.5 carats with a 55- facet cut, called the Enigma, will go under the hammer in February.
The Enigma was listed in the 2006 Guinness Book of World Records and will become the largest of its kind to be put up for auction. Sotheby’s expects the stone to fetch between $4.1 and $6.8 million.
According to the auction house, the Enigma is a rare piece that cannot be compared to other diamonds or even other black gemstones sold in the past.
"And let it be said, the lab-grown companies aren’t exactly charities – they’re like any other technology company out there to make money."
Results from Mountain Province Diamonds on Q4 and the full year (2021) reveal the miner, operating the Gahcho Kué mine in the Northwest Territories are in line with production guidance (1% below) while preliminary cost per tonne was down slightly. The miner sold 808,739 cts for US$65,7m in Q4 in Antwerp, at an impressive average of US$83/ct, well above the US$65/ct achieved in the same period in 2020.
Botswana Diamonds announced the preliminary kimberlite assessment on the Thorny River prospect in South Africa is encouraging, with projected volume of kimberlite in the area exceeding previous estimates, to ca. 2m tonnes. The company is now investigating mining options, and has yet to make an assessment on potential diamond grade. John Teeling, chairman, commented: "The estimated kimberlite volume in the River area is considerably better than expected. Botswana Diamonds will now determine the mining potential. Let me put this in context.
Rough & Polished reports, based on a local TV interview with CEO Sergei Ivanov, that the company is optimistic about restoration of the Mir diamond mine, and is in the final stage of a feasibility study which will determine the course of action, to be decided by a review committee in H1 of 2022.
GRIB Diamonds, the Antwerp-based rough diamond selling arm of AGD Diamonds, has kicked off 2022 with its first Spot viewing for Regular Goods in Antwerp today, with the spot auction slated for January 24th. Interested parties can apply via GRIB's website to schedule an appointment.
Australian mining company Rio Tinto announced they appointed Angela Bigg as president and chief operating officer of the Diavik diamond mine. She will be the first female to lead the mine and its 1,100 employees. She joined the Diavik team in November 2017 as vice president, Finance. Angela Bigg will succeed Richard Storrie, who left the company after 26 years.
De Beers Group announced they extended their existing sales agreement with the Government of the Republic of Botswana for the sale of Debswana’s rough diamond production until the end of June 2022.
The agreement was due to expire at the end of 2020 but was already extended for a year because of continuing logistical challenges due to Covid-19. This second extension period will provide both parties with some extra time to complete discussions about the renewal of the contract after the good progress made in 2021.
Petra Diamonds announced the results of Tender cycle 3 of FY 2022. The company sold 885,136 carats for a total of US$ 128.3 million. The tender cycle included a 295.8 carat white stone from the Cullinan mine, which was sold for US$ 13.9 million, and the first parcel sold on behalf of Williamson Diamonds Limited since they restarted operations.
Okavango Diamond Company (ODC), the state-owned rough diamond marketing company entitled to sell a portion of the country's rough resources outside of the De Beers joint venture, has announced a record-breaking revenue for the first eight months of the year through its sales via Antwerp, amounting to US$830m, a whopping 484% increase compared to the US$181m achieved in 2020 and well beyond the average of US$500min a regular year.
Petra Diamonds announced it reached an agreement in principle with the Government of Tanzania regarding the operations of the Williamson Mine. With this agreement, Petra Diamonds aims to establish a sustainable future for the joint venture between Petra and the Government, held through Tanzanian company Williamson Diamonds Limited.
To align with the country’s new mining legislation, Petra Diamonds will reduce its stake from 75% to 63%, with Tanzania’s stake increasing from 25% to 37%.
Lucapa Diamond Company, already operating mines in Angola (Lulo) and Lesotho (Mothae) has finalized the acquisition of the Northern Territory (Australia) Merlin Diamond Project through its subsidiary Australian Natural Diamonds.
Russian miner ALROSA reports its preliminary rough and polished sales results for November totaled $334 million, $310 million of rough sales and $24 million of polished sales. This marks a total of $3,915 million for the first eleven months of 2021.
At its most recent December tender in Antwerp at Bonas Group, Mountain Province reports 388,573 carats were sold for a total of US$33.3 million, resulting in an average value of US$86 per carat, continuing the steady improvement through Q4 2021. These proceeds mark an aggregate sales result of US$67.5 million for 808,739 sold carats in the fourth quarter of 2021, equaling an average value of US$83 per carat.
The Antwerp World Diamond (AWDC) and ALROSA renewed their cooperation agreement to further expand and strengthen their relationship over the course of the next years.
Lucapa, Endiama and Rosas & Petalas announced the sale of 6 exceptional Lulo diamonds, weighing 336 carats, for a total sales price of US$12.8 million, representing an average price of US$38,006/carat.
The four large, top-quality white diamonds and two fancy pink diamonds were recovered from the Lulo alluvial mine in Angola and sold in Luanda via international tender by Sodiam E.P, the Angolan State Diamond Marketing Company.
Israeli news outlet Globes reports that the widely acclaimed Abraham Accords, often cited as a major breakthrough for intensified trade relations between Dubai and Ramat Gan, are in fact anything but conducive. Firstly the article says that in spite of what is often claimed, diamond trade between Israel and Dubai was significant before the diplomatic normalization.
Industry analyst Edahn Golan takes an in-depth look at US jewelry sales trends and sees a lot of indications it is going to be a terrific holiday season.
Reprinted courtesy www.edahngolan.com.
After a roller coaster 2020, 2021 continued the upswing in jewelry sales to a degree few if any expected. Sales in October rose 37%, and we expect holiday jewelry sales to top that and close a fantastic year for the industry.
According to the Economic Times India, rough prices have risen significantly in recent days - the article speaks of 5-10% -, as reports of a new variant of the COVID-19 virus cause concerns in Surat and Mumbai over supply of rough diamonds, fearing the omicron variety might impact production in Southern Africa. India's manufacturers are worried as polished prices have not gone up at the same pace as the rough, squeezing profit margins while demand is high. De Beers' representatives in India say it is too early to comment on potential impact on the mining activities.
Russian miner ALROSA announced they are implementing a new system for their long-term agreements and rough diamond allocation principles. The new system ensures that specifications meet clients’ requirements as closely as possible by taking the specific business needs of each diamond consumer category - diamond cutters, traders and jewelry retailers - into account, in addition to the client’s purchase history.
According to figures released by the Antwerp World Diamond Centre, the polished diamond business in Antwerp is doing well. Q3 2021 figures already showed the rough business in Antwerp was outperforming pre-pandemic levels of 2019 and now the October figures indicate the polished trade is on track as well.
Rio Tinto announced it became the sole owner of the Diavik Diamond Mine in Canada. The company owned and operated 60% of the mine - as the other 40% was owned by Dominion Diamond Mines - but now a transaction has been completed for Rio Tinto’s acquisition of the share held by Dominion.
To support the victims of the flood disaster in Belgium last July, the Antwerp diamond community donated a cheque of €175,112 to the Belgian Red Cross for their solidarity action “Helpen helpt”.
“At the request of several diamond companies, a campaign was launched by 7 sector organizations to support the initiative of the Belgian Red Cross”, said Nader Murad, Antwerp diamond dealer. “Many companies and individuals from the diamond community made a donation, adding up to the €175,112.”
Petra Diamonds Limited announced the first tender of rough diamonds from the Williamson mine in Tanzania, post the restart of operations, will take place in Antwerp from Friday 19 to Friday 26 November 2021.
A parcel of ca. 26,000 carats is available for sale and includes a 32.32 carat pink stone of exceptional colour and clarity.
Appointments to participate in the tender can be made by contacting Greg Stephenson, Group Head of Sales and Marketing, +27 836 379 849, email@example.com.
First Element announces it will cooperate with GIA Antwerp, submitting rough diamonds to the GIA Diamond Origin Program, a traceability program to scientifically match a polished natural diamond to its original rough stone, confirming the country of origin information. First Element will offer successful buyers at their tenders to have the rough stones included in the program. First Element “will ensure the implementation process of the diamonds into the GIA Diamond Origin Program will run very smoothly, thus optimizing the experience for the client.”
On the sidelines of the KP Plenary session, Russia and Belgium signed a memorandum of understanding on the electronic exchange of the Kimberley Process (KP) Certificates. The MOU was signed by Marc Michielsen, Belgian Ambassador in Moscow and Vladimir Bulavin, Head of the Federal Customs Service of Russia. In addition, the signing was attended by Alexey V. Moiseev, Russian Vice Minister of Finance, and the Federal Public Service Economy of Belgium, represented by Belgian Ambassador Michielsen.
After cancellation in 2020 and 2021 due to the Covid-19 pandemic, the organization of Baselworld announced they are once again canceling the 2022 edition. The current surge in COVID cases across the globe and the associated uncertainty among customers are making the launch of the new concept - announced in June - very difficult, commented MCH in a statement. Feedback from the Geneva Watch Days and discussions with exhibitors also led to this decision.
Choron Group announced a large tender of rough diamonds sourced from Angola will be hosted exclusively in Antwerp, Belgium.
The tender will be organized together with Bonas Couzyn, who will be hosting the event from Monday 15th November 2021 till Thursday 25th November 2021.
The tender has close to 48,000 carats with an estimated value of USD 45,000,000 including over 60 single stones.
From 8 – 12 November, the 2021 Kimberley Process (KP) Plenary takes place as a hybrid event, combining in-person meetings in Moscow with videoconferences by delegates from around the world. During the opening session, WDC President Edward Asscher reasserted the need for KP members to agree to expand the conflict diamond definition in order to support long-term consumer confidence. Mr.
First Element Diamond Services announced strong October tender results. Both tenders, the first one in Antwerp and the second one in Johannesburg, showed high demand and strong interest with over 198 companies with 322 buyers attending the viewings in Antwerp. Over 700 parcels were sold for a total amount of around $30 million. Parcel highlights of the tender included a 16-carat stone sold for over $110,000 per carat.
On Wednesday, the Guangzhou Diamond Exchange (GZDE) and Guangdong Gems & Jade Exchange (GDGJE) hosted the sixth edition of the International Jewellery & Diamond Conference.
This year's theme was “Dual Circulation, New Development – From Global Jewellery Factory to Global Jewellery Market”. The speakers, on and offline, were authoritative experts in the field of digitization, economy, and trade. International industry representatives shared their views on further integrating into China’s extensive consumer market and achieving growth.
Lucara Diamond Corp. released its Q3 2021 figures, demonstrating a strong performance in the third quarter of 2021, with strong financial and operational performance. The total revenue of $72.7 million, including diamonds sold through regular tenders, the Clara platform and the HB Antwerp agreement, marks a 57% increase over the previous quarter and results in an average price per carat sold of $619.2.
De Beers announced a new global campaign centered on the iconic words of commitment ‘I do’. Via this campaign, they focus on diverse types of commitment and expand the words’ meaning to stand for personal pledges of all kinds: to love, friendship, family, society, nature and more, marking a new chapter in the company's 133-year history.
China’s diamond imports have maintained a sustained growth momentum in the first three quarters of 2021 thanks to the rapid recovery of the country’s retail jewelry market.
According to the Shanghai Diamond Exchange (SDE), diamond transactions via the SDE from January through September 2021 reached USD 5.718 billion, representing an 81.2% increase over the same period of 2019, and approaching the all-time high of USD 5.784 billion in 2018 (January - December).
Gem Diamonds, leading producer of high-value stones, announced they recovered 23,435 carats during Q3 2021 (July-September 2021), resulting in 82,266 266 carats recovered for the year to date, an increase of 14% compared to 2020. The generated revenue in Q3 2021 amounted to US$ 47.3 million, achieving an average price of US$ 1,589 per carat.
Rio Tinto proudly announced its 2021 Argyle Pink Diamonds™ Tender collection of 70 rare pink and red diamonds delivered the most significant set of record-breaking results in its 38-year history. Just like the first Argyle Pink Diamonds Tender was held in Antwerp in 1984, the most anticipated diamond sale in the world had its final curtain call after 38 years in the city of diamonds, Antwerp.
GRIB Diamonds has announced viewing dates for its "specials" sale in Antwerp, open for Priority Customers. Viewings start 8th November and end 22nd in Antwerp, Belgium with the auction running from 10:00 (CET) on 23rd November.
Petra Diamonds’ Q1 FY 2022 figures (July-September 2021) show the revenue of the diamond mining company went up 48% to US$114.9 million compared to the same period last year (Q1 FY2021: US$77.7 million). This strong result was driven by proceeds from the Exceptional stones sale during this quarter totaling US$50.2 million. In addition, diamond prices on a like-for-like basis went up ca. 3% compared to Q4 FY 2021.
Production during Q1 FY 2022 equaled 861,991 carats, increasing 8% compared to Q4 FY 2021 when production equaled 794,952 carats.
The Democratic Republic of Congo’s new minister of mines, Mrs Antoinette N’Samba Kalambayi and a high-level delegation of representatives of various DRC government agencies supervised by the Mining Ministry was welcomed in Antwerp yesterday by the AWDC and met with several stakeholders of Antwerp’s diamond community. The DRC’s first female mining Minister, a well-known civil rights activist, was appointed to lead the key position in April of this year.
According to figures released by the Antwerp World Diamond Centre, the rough diamond business in Antwerp is outperforming pre-pandemic levels of 2019 and it seems the polished business is on its way to recovery.
From January to September 2021, 69.5 million carat rough diamonds worth 7.8 billion USD were imported in Antwerp, a 31% rise in value compared to 2019 pre-pandemic figures. On the export side, AWDC’s figures show a 21% rise compared to 2019 with 79.1 million carat imported rough diamonds worth 8.2 billion USD.
This week, a delegation of NAMDIA representatives visited Antwerp and was welcomed by the Antwerp World Diamond Centre. NAMDIA’s General Manager, Lelly Usiku and Company Secretary Marvel Tjombonde paid a visit to the pinnacle of Antwerp’s billion-dollar operations, the import and export authority Diamond Office, as well as AWDC’s in-house tender facility.
Angola's Minister of Mineral Resources, Petroleum and Gas (MIREMPET), Diamantino Azevedo, has announced it will organize its first International Diamond Conference (AIDC) in the recently inaugurated Saurimo Diamond Development Hub, where a wide variety of industry related activities, including local polishing factories are settling in.
iTraceiT, a new and independent technology and service provider, announced it has opened a pilot and will in the short term launch its traceability solution for the diamond and jewelry Industry. The Diamond Loupe spoke with Frederik Degryse, newly appointed CEO of the company.
September sales of Russian miner ALROSA net 298 million USD, including proceeds from rough diamonds sales of $289 million and polished diamond sales of $9 million, resulting in a total of $3,274 million diamond sales during the first nine months of 2021.
The Angolan Ministry of Mines, Minister Azevedo, has announced it has finally signed a deal with Rio Tinto, after months of negotiations, for the exploration of the 108 square km Chiri (kimberlite) diamond concession in the Lunda Norte region of the country. In the initial phase, Rio Tinto Angola has a 75% stake, Endiama a 25% stake, in addition to the establishment of a joint venture.
According to the Namibian, which reported on the accusations of continued underselling of Namibia's rough diamonds via Namdia to Dubai just two weeks ago, local, Namibian authorities last Wednesday blocked a Namdia shipment of rough diamonds worth US$10m.
Opsydia announced they can now place permanent identifiers in melee diamonds without affecting their surface polish. It’s an important advancement for volume manufactures to secure their supply chain and protect it from undisclosed synthetics.
Through this new technology, diamonds that are just 0.5 millimeters in diameter can have an alphanumeric sequence, coded shape or logo placed beneath their surface to create a physical link to a supply chain record or branded jewelry origin.
Alrosa, the world’s largest producer of diamonds, has informed its long-term clients on its sustainability as well as its traceability program, a nano, non-invasive 3D laser marking applied to the atomic structure of diamonds that can be scanned in under a minute using Alrosa’s in-house developed scanning technology.
Announcing its Q3 Antwerp sales results, Mountain Province Diamonds, operating as 49% partner with De Beers in the Gahcho Kué mine in the NWT (Canada) sees the strong prices of the first half of the year continue in Q3 with 1,028,327cts sold for a value of US$74.1m or avg US$72/ct. Year-to-date results amounting to 2,349,644ct or nearly US$170m in sales revenue.
As with all industries, the diamond industry keeps evolving. One such evolution is synthetic diamonds. Despite the similar appearances of synthetic and natural diamonds, these are essentially different products with a very different value proposition. Fortunately, there are many effective Diamond Verification Instruments (DVI) on the market. Enter the brand new ASSURE lab of University Antwerp (UAntwerp), where DVIs are rigorously tested to ensure that the industry has access to objective data when selecting the best devices for them.
Luxury Jeweler Chopard announced it is an official partner of the 25th James Bond film “No Time To Die”. Through the character of Paloma, played by Ana de Armas, the brand will showcase 3 sustainably crafted jewels from their Green Carpet Collection. This collection is the first entirely made from sustainably mined materials in the form of ethical Fairmined certified gold and diamonds from suppliers endorsed by the Responsible Jewellery Council.
HRD Antwerp recently discovered a fake inscription on a 1.50 carat, Type IIa polished diamond, which it received for grading.
Diamonds of this type are always investigated extensively at HRD Antwerp’s Research department to verify that the stone is a natural diamond without any color enhancements, the grading lab said. This closer examination showed the diamond had undergone HPHT color treatment, even though the stone was inscribed with a GIA laser inscription corresponding to a natural diamond grading report, which made no mention of any color treatments.
Grib Diamonds reported another excellent sale in Antwerp. The company sold about 550 carats with a revenue of approximately 45 million US dollars.
“Overall prices for Grib rose 5-7%, with particular strength seen in larger yellow diamonds and small goods below 3 gr. +2 carat gem white goods were notable for the decreases in the price of high single digits to low double digits”, according to Grib Diamonds.
Grib’s next auction is planned for mid-October.