Brazil Minerals Discovers Diamond-Rich Zone in Minas Gerais

Brazil Minerals, a U.S. diversified company with projects in various minerals in Brazil, announced its extensive drilling campaign in one of its several mineral rights yielded alluvial material with a high likelihood for diamonds in over 57% of the drill holes executed. The project is located in the Jequitinhonha River Valley in northern Minas Gerais state in Brazil. Marc Fogassa, CEO of Brazil Minerals, stated, “Our identification of an initial diamond-rich zone within a gold mineralization area is a very good outcome.

Mining and Exploration

Zimbabwe’s Third Diamond Tender of 2018 Nets $28M, A Step Forward

Zimbabwe’s second diamond tender of 2018 earned $28.3 million from 423,066 carats, for an average price of $67 per carat. This represents a huge step forward as the country tries to regain market confidence and reclaim a stake in the global diamond trade, even though the tender attracted fewer international buyers than expected. 

Mining and ExplorationRough Market

Lucapa Awarded Five-Year Licence for Lulo Project in Angola

Lucapa Diamond Company Ltd., a growing diamond company with a portfolio of high-quality production, development and exploration assets in Angola, Lesotho, Australia and Botswana, has been awarded a new Mineral Investment Contract (MIC) by the Angolan Ministry of Mineral Resources and Petroleum for the Lulo kimberlite exploration licence. The MIC covers a five-year period through to 30 April 2023. Lucapa Managing Director Stephen Wetherall said the gazetting of the new five-year MIC for the Lulo kimberlite licence was further evidence of Angola’s diamond sector reforms and the strong working

Mining and Exploration

Global Jewelry Sales Up 5% in Q2, According to ALROSA Study

Russian diamond miner ALROSA recently published the results of its global luxury and jewelry market research, showing that the average global growth rate for decorative jewelry in Q2 2018 was approximately 5% higher than during the same period last year. Sales increased in all of the world's key regions, except for India. The most notable increase came from the Asia Pacific region, where sales increased by 17%. The positive dynamics resulted from the continuing expansion of various local players, made possible by the strong demand for diamond-based jewelry in continental China.

Jewelry

Antwerp Diamond Industry Welcomes King of Lesotho to Belgium

Ari Epstein, CEO of the Antwerp World Diamond Centre (AWDC), along with several representatives from the Antwerp diamond industry today met King Letsie III of Lesotho in Brussels. Lesotho, a mountainous country fully surrounded by South Africa and numbering only two million inhabitants, is the world’s seventh most important diamond-producing country in terms of value. Lesotho’s entire diamond production, worth $342 million in 2017, is traded on the Antwerp market.

Mining and ExplorationRough Market

ALROSA Sells $12.6M of Large Rough Diamonds in Vladivostok

ALROSA, the world's largest diamond mining company, has sold 'special size' rough diamonds (larger than 10.8 carats) at auction in Vladivostok, with overall revenue amounting to $12.6 million. At its latest sale of large stones, the company sold 108 gem-quality lots with total weight of 2,003 carats. 76 companies from Russia, mainland China, Hong Kong, the US, Israel, Belgium, India and UAE took part in the auction.

Rough Market

Russian Miner AGD Diamonds Incorporates Grib Diamonds Trading Company in Antwerp

Russian diamond mining company Arkhangelskgeoldobycha (the licence holder for the Grib diamond pipe in the Arkhangelsk Region), which recently changed its name to AGD Diamonds, has consolidated a 100% stake in Grib Diamonds. Grib Diamonds is the Antwerp diamond trading company responsible for marketing rough diamonds produced at the Vladimir Grib Diamond Field through auctions held on its web-based platform. The move is intended to establish a fully-fledged diamond mining company, including exploration, production and sales.

Rough Market

Mountain Province Identifies More Kimberlite at Gaucho Kué, Could Extend Life of Mine

Canadian miner Mountain Province Diamonds (MPD) has announced "very encouraging" results from its exploration program currently under way in the immediate vicinity of the Gahcho Kué mine. If the exploration success continues and is confirmed, it could lead to the potential addition to the resource of 1.5 to 2.8 million tons and 2.2 to 4.2 million carats, said Stuart Brown, the Company’s President and CEO.

Mining and Exploration

Rough Diamond Imports to India Continue Slide, Polished Exports Rise

Rough diamond imports to India, home to the largest world's largest diamond cutting and polishing industry, have fallen for five consecutive months, according to figures from industry body the Gem and Jewellery Export Promotion Council (GJEPC). The GPEPC's most recent figures show that from April through August (FY 2018), the value of rough diamond imports have declined by 7 percent to $7.16 billion from $7.69 billion a year earlier. In volume terms, imports are down 9% to 68.6 million carats from 75.3 million carats compared to the same period last year.

Rough Market

Tiffany's Unveils New Engagement Line: Tiffany True

Famed jeweler Tiffany & Co. has lifted the veil on the company’s upcoming jewelry collection, Tiffany True, its first new engagement line in nearly a decade. The newly designed engagement ring at the core of the collection features a new cut of diamond, and its setting is designed so that its four link sides create a basket for the ring, allowing it to sit lower on the finger for a more modern feel.“Tiffany has symbolized the ultimate in love and commitment since 1886 with the invention of the original Tiffany Setting.

Jewelry

ALROSA Commences Rare Rough Diamond Auction in NYC

Russia's ALROSA, the world's largest diamond mining company, has commenced a rough diamond auction in New York, featuring 81 rare gem-quality 'specials' (diamonds larger then 10.8 carats) discovered in 2017-2018. The auction will include some of ALROSA's most unique recent recoveries, such as a transparent 98-ct diamond with a yellowish hue (pictured above) and a diamond weighing over 100 carats. Both stones were mined at the Yubileinaya pipe in Yakutia.

Rough Market

De Beers Unveils Larger Version of (now JNA Award-Winning) SYNTHdetect Device,

The International Institute of Diamond Grading & Research (IIDGR), a member of De Beers Group, yesterday announced that its industry-first synthetic screening device, SYNTHdetect, was awarded Industry Innovation of the Year at the JNA Awards in Hong Kong. The announcement follows the launch earlier during the week of IIDGR's SYNTHdetect XL, a larger version of the original model that provides additional efficiencies for users, allowing a multiple pieces of jewelry to be screened at an even faster rate while using the same technology as the original SYNTHdetec.

TechnologyPolished

Diamond Empowerment Fund's First Scholarship Honors Mandela's Legacy

The Diamond Empowerment Fund (D.E.F) has partnered with the Mandela Institute for Development Studies (MINDS) to establish the first in a series of Diamond Empowerment Fund Scholarships. The DEF scholarship, the first in a series of new scholarships, will be earmarked for a student from a diamond producing country whose chosen post-graduate study will be in a field of interest that meets the needs for improving the quality of life for Africans. Additional D.E.F scholarships will be identified in the coming months, each representing the global impact of the diamond industry.

Sustainability

Israel Diamond Exchange Names New Managing Director

The Israel Diamond Exchange (IDE) has appointed Eran Zini as its new Managing Director. After having served as senior advisor to Israel’s Minister of Justice, he joined Israeli pioneering electric car start-up Better Place, as head of government relations and regulation. He then joined a government company devoted to vocational rehabilitation for people with disabilities as head of operations, and a year later was promoted to Managing Director, a position he held until he was recruited by IDE.

Zini fills the vacancy left behind by Eli Avidar, who stepped down in April.

Polished

We don’t have any idea to develop lab-grown diamonds at this moment because we don’t see any market for it right now. Chow Tai Fook is a jewelry brand as well as a diamond brand, and our brand value is authenticity, so we have to live up to that. It’s important to understand that Chinese consumers value natural as real, and there’s no grey area in China when it comes to man-made diamonds.

- Kent Wong, managing director of Chow Tai Fook Jewellery Group, from an interview with Avi Krawitz, Rapaport News.

Petra Diamonds Core Profit Rises, CEO Steps Down Amid Shares Slump

Despite its annual revenue rising 25% and its profit from mining activities up 33% to US$205.1 million, the miner recorded significant losses ($203.1 million) and Petra Diamonds' CEO Johan Dippenaar will step down after 12 years at the helm following a slump in the company’s share price this year. The miner was forced to raise $170m in capital from shareholders last May to shore up its heavy debt, which has run up over the $600 million mark and accelerated the company’s share price fall this calendar year, which is down by 43%.

Mining and Exploration

Lucapa Prepares 1st Sale Under Angola's New Marketing Policy, Ships 1st Mothae Parcel to Antwerp

Lucapa Diamond Company today announced that a selection of large, premium-value Lulo diamonds will be the first Lulo production sold through new marketing channels being introduced as part of Angola’s diamond sector reforms, which represent a milestone for Angola's rough diamond trade. Additionally, Lucapa has exported its first parcel of ~2,500 carats of diamonds recovered from the Mothae kimberlite diamond mine in Lesotho to the global diamond trading centre of Antwerp, Belgium. 

Mining and ExplorationRough Market

ALROSA Launches First Auction of Large, Fancy-Colored Polished Diamonds in HK

Russian diamond miner ALROSA presented its first ever collection of large, fancy-colored polished diamonds at the Hong Kong Jewelry & Gem Fair, marking the initial stage of their new strategy to become the world leader in the production of colored polished diamonds. The collection showcased in Hong Kong is comprised of 250 diamonds of different shapes and hues, with the auction scheduled for September 19. "ALROSA polished branch now focuses on the processing of large and coloured diamonds and the subsequent sales," said Evgeny Agureev, Director of the United Selling Organization of ALRO

Mining and ExplorationRough Market

Millennials & Gen Z: the Future of Diamond Demand Is Now

The Millennial and Gen Z generations combined accounted for two-thirds of global diamond jewelry sales in 2017, as diamond jewelry demand reached a new record high of US$82 billion, according to data published today by De Beers Group in its latest Diamond Insight Report.

Market AnalysisMarketingJewelryRetail and Consumer Confidence

Chow Tai Fook Introduces Blockchain App for Consumer Confidence

Leading Hong Kong jewelry retailer Chow Tai Fook is the latest company to turn to blockchain technology to enable its customers to know the origin and authenticity of the diamonds they are buying.

JewelryTechnology

Rio Tinto Showcasing Argyle Pink Diamonds Tender in Hong Kong

Rio Tinto’s iconic Argyle Pink Diamonds Tender is being showcased to connoisseurs and collectors from across Asia in Hong Kong; the miner has also unveiled a one-of-a-kind pink diamond and emerald necklace during a world exclusive preview in Hong Kong. Headlining the 2018 collection of 63 pink, red and violet diamonds is The Argyle Muse, a 2.28 carat polished oval diamond, the largest purplish red diamond ever offered at Tender. Rio expects it will be highly sought after by collectors and connoisseurs from Asia where the colour red is highly symbolic.

Polished

Murowa Diamonds (Zimbabwe) Joins Diamond Producers Association

RZ Murowa Holdings Ltd. (RZM), majority owner and operator of Murowa Diamonds, has joined the Diamond Producers Association (DPA), making it the eighth diamond mining company, and first new member, to join the DPA since it's launch in 2015. The DPA was created in 2015 to protect and promote the integrity and reputation of diamonds. Murowa Diamonds operates the Murowa mine in Zimbabwe, which was purchased from Rio Tinto in 2015 and expanded significantly under its new leadership. Manit M.

Mining and ExplorationMarketing

Former Modi Brands Firestar & Fantasy To Auction Diamond Inventory & IP

Billed as a "Great opportunity for retailers, wholesalers, manufacturers and deal-makers!', the bankruptcty trustee of Firestar Diamond, Inc. and Fantasy, Inc. is liquidating the inventory and intellectual property of Firestar and Fantasy, including diamond and jewelry inventories as well as their patents, trademarks and associated jewelry. These companies manufactured and supplied fine diamond jewelry to the largest and most significant retailers and online sellers in the US and globally, but will disappear following the liquidation sales.

Jewelry

ALROSA Plants 80,000 Trees As Part of Rehabilitation of Mine Site

Pretty in Pink: Christie’s Top 10 Pink Diamonds

Yuyuan Shares To Acquire 80% Stake in Belgian International Gemological Institute

Fosun International, through its holding company Yuyuan Shares, has announced that it plans to invest US$108.8 million to acquire an 80% stake in the diamond, gemstones and jewelry certification and appraisal lab, the International Gemological Institute (IGI). Headquartered in Antwerp, Belgium, IGI is a world-renowned gemological training and diamond appraisal organization, known to be the world's largest independent gem certification and appraisal institute for diamonds, colored gemstones, and jewelry.

LaboratoriesGrading

Junior Miner Tango Adds To Diamond Portfolio in Angola and Liberia

Tango Mining Limited, a Canadian diversified junior mining company with several projects in southern Africa, has been busy expanding its portfolio of diamond projects. Tango is the lead company at the Oena diamond mine in South Africa, as well as Txapemba, an 84 sq km concession in Angola that Tango took operational control of last October. It also recently acquired 75% of the Middlepits project - an alluvial diamond property in Botswana, which it will not be responsible for mining - and has now signed new agreements in Angola and Liberia.

Mining and Exploration

Stornoway Diamond Completes Renard Underground Mine

Last week, Candian diamond miner Stornoway Diamond Corporation achieved sustained underground mine production at the Renard Diamond Mine following its ramp-up to or above the mine’s design capacity, marking the completion of the underground mine. Matt Manson, President and CEO, commented: “Completion of the underground mine ramp-up at Renard has not been without its challenges.

Mining and Exploration

Antwerp Polished Diamond Trade Books Value Gains in Slow August

The polished-diamond trade in Antwerp rode a higher average price per carat, particularly for exports (+6%), to solid value gains during the traditionally slow month of August, when the industry takes a three-week hiatus. The volume of rough goods traded during the month declined notably without having much impact on the overall value of those goods, as the average price per carat for rough goods is also outpacing that of the year prior by approximately 6%.

Rough MarketPolished

ALROSA's August Diamond Sales Reflect Stable Demand

Russian diamond miner ALROSA sold $294.9 million worth of rough and polished diamonds in the typically slow month of August, representing a 14% rise year-over-year. The miner sold $283.2 million worth of rough diamonds during the month, an 11% increase over the same period in 2017. Meanwhile, polished-diamond sales increased 516% y-o-y and 121% over July, earning $11.7 million, as the group hosted several sales.

Mining and ExplorationRough MarketPolished

Antwerp World Diamond Centre Visits Angola for Diamond Symposium

Representatives from the Antwerp World Diamond Centre (AWDC) this morning joined Belgium’s Deputy Prime Minister and Minister of Foreign Affairs and European Affairs, Didier Reynders in Angola, where he hosted a Diamond Breakfast Symposium in cooperation with the Ambassador of the Kingdom of Belgium to Angola, HE Frank Felix. The mission to Angola is intended to reinforce the momentum established between the two countries during the visit of the President of Angola, João Lourenço, to Antwerp last June, where they discussed increased cooperation concerning diamond trading.

Rough MarketMining and Exploration

De Beers' Rough Diamond Sales Hold Steady at $505M in Cycle 7

Diamond mining giant De Beers reports provisional sales of $505 million during the seventh cycle (September 3 - 7) ahead of the Hong Kong Jewellery & Gem Fair, which gets underway this week. Rough sales were flat year-over-year ($507 million in 2017) and declined as anticipated from the $533 million sold in Cycle 6.

Rough Market

AWDC Welcomes International Students to Antwerp Summer University, Diamond Edition

Last week, the Antwerp World Diamond Centre (AWDC) and the University of Antwerp hosted an “Innovation and Diamonds” conference at the Antwerpsche Diamantkring - the only rough diamond bourse in the world - featuring internationally-recognized experts from across the spectrum of the diamond trade, including alternative financing, the impact of digital on the luxury segment, the feasibility of small-scale ethical mining, as well as the earthquake and aftershocks of De Beers’ foray into lab-grown diamonds: LightBox.

Rough MarketMarketingPolishedSustainabilityFinance and TradeRetail and Consumer Confidence

Gem Diamonds: Record Number of Big Stones in H1 Boosts Revenue 81%, Share Price Soars

Gem Diamonds, which operates the Letšeng mine in the mountainous kingdom of Lesotho in southern Africa, famous for producing the world’s most valuable stones, is in the midst of a banner year as a record number of large diamond recoveries (+100ct) pushed revenue to $167.7 million, up 81% from $92.9 million in H1 2017. The company set a half year record of ten diamonds greater than 100 carats, including the recovery of the 910 carat Lesotho Legend, which was sold in March to an Antwerp company for $40 million ($43,912 per carat).

Mining and ExplorationRough Market

Signet Considering Lab-Grown Diamonds if Consumers Want Them

Signet Jewelers' CEO Gina Drosos said the brand will follow consumer demand when deciding whether the company will start selling lab-grown diamonds in its stores, which currently number about 3,500 (3,000 in North America, 500 international). Industry insiders have told us they suspect decision has already been made. The CEO made the remark during a conference call about Signet's Q2 2019 results.

JewelryRetail and Consumer Confidence

Mountain Province Diamonds Earns $27M at Latest Sale in Antwerp

Canadian miner Mountain Province Diamonds earned US$26.9 million (CDN$35.3 million) from the sale of 411,317 carats at their seventh Antwerp sale of the year, completed on August 31. The overall average realized value was only US$65 per carat, a slight decline from their previous sale, driven by a lower qualites and downward pressure on the market for smaller goods, while their 'specials' (larger than 10.8 carats) continued to perform well. 

Mining and ExplorationRough Market

Australia's POZ Minerals Sets Sights on Ellendale Diamond Mine, Yellow Stones

POZ Minerals Ltd., a phosphate producer that holds a 100% interest in the Blina Diamond Project and also explores for phosphate and gold properties, annouced it will place a bid for the Ellendale mine after the state government’s call for investors in the asset last week. The Ellendale Project was mined from 2002 to 2015 and previously produced about half of the world's highly valued fancy yellow diamonds.

Mining and Exploration

India Will Displace US as Second Largest Fine Jewelry Market in 2018

According to new research from Euromonitor International, India is set to overtake US as the world's second largest fine jewelry market by the end of 2018, reports Business Matters. The study shows that China remains the biggest market for fine jewelry with sales reaching US$86.3 billion by the end of 2017, which are expected to reach US$92 billion by the end of this year. The Chinese market as a whole has grown by over 21% in the last five years.

World NewsJewelry

ALROSA To Display Largest Ever Purple-Pink Diamond & 250 Fancy-Colored Stones in HK

Russian diamond mining giant ALROSA is planning to showcase a unique collection of large, fancy-colored diamonds at the Hong Kong Gem & Jewelry Fair in September, reports Rough & Polished. The collection of diamonds the miner will showcase includes 250 stones of different shapes and colors (including very rare colors) - purple, pink, orange and vivid-yellow - and is said to be the largest collection of fancy-colored stones the company has ever presesnted.

Polished

Indian Bank in Antwerp To End Diamond Financing Within Year

According to Elizabeth Burden and Thomas Biesheuvel for Bloomberg, the Union Bank of India (UBI) is planning to pull out of the global diamond hub of Antwerp. The bank has given notice that it will close its branch in the Belgian city within a year, according to Chief Executive Officer Rajkiran Rai Gundyadka. "The viability of the branch isn’t established,” he said.

Finance and Trade

Peregrine Diamonds' Shareholders Approve Acquisition by De Beers

Peregrine Diamonds announced its securityholders voted last Friday to approve the move by De Beers Canada to acquire the company for a total equity value of approximately C$107 million ($81 million). De Beers Canada and Peregrine Diamonds first announced the agreement in July, whereby De Beers would acquire 100% of the outstanding shares of Peregrine for $0.24 per share in cash. The transaction represents a 50% premium to Peregrine’s share price of $0.16 on July 18, 2018, and a premium of 44.5% to the volume weighted average price of the shares for the 20-trading days ended July 18, 2018.

Mining and Exploration

Lucapa Diamond Co. Reports "Excellent results" from Drill Samples in Australia

Australian-based Lucapa Diamond Company, whose flagship operation is the Lulo diamond project in Angola, reports the recovery 1,100 diamonds from a 178 kg drill sample at the Brooking diamond project in Western Australia’s West Kimberley lamproite province. The miner's "exceptional results" from the Little Spring Creek discovery included 18 macro-diamonds and 1,082 micro-diamonds, recovered from drill hole LSC/DH002. “The latest micro-diamond results from Little Spring Creek are some of the best I have seen in the diamond space," said Lucapa Managing Director Stephen Wetherall.

Mining and Exploration

Tiffany's Beats Q2 Estimates, Raises Profit Forecast

Tiffany & Co outstripped quarterly estimates for profit and revenue and raised its full-year earnings forecast as the retailer sold more jewelry in China and the Americas. Second-quarter global net sales rose 12% to $1.1 billion, with comp sales rising 8%, and first half sales net sales increased 13% to $2.1 billion, comp sales rising 9%, reflecting geographically broad-based growth and increases in all product categories. 

Jewelry

“[The $180 million in diamond sales to China last year] is still less than 5 percent of Alrosa’s global sales, but it’s just the beginning. Strengthening and developing our relationship with Chinese consumers, especially with local jewelry retailers, are among our main goals today. We will invest more in marketing and brand building.”

- ALROSA CEO Sergey Ivanov 

Paul Zimnisky: Lab-Grown Diamond Jewelry to Reach $15B by 2035

Independent analyst Paul Zimnisky estimates by 2035, lab-grown diamond jewelry will achieve total sales $15 billion, as it grows from its current estimated level of estimated $1.9 billion. He bases his estimate on growth of 22% annually to $5.2 billion by 2023 and to $14.9 billion by 2035, equating to a longer-term growth rate of about 9% rate annually. In terms of market share, his research leads him to conclude that lab-grown jewelry will have gained 5% of the market for diamond jewelry (>$250) and 7% for fashion jewelry (<$250) in the same timeframe.

Market Analysis

West Australian Gov't. Looking for Miner To Restart Ellendale Mine

The Western Australian Government is seeking expressions of interest to reopen and operate the Ellendale diamond mine in the Kimberley region of Western Australia, reports Australian Mining. Ellendale previously provided about half of the world’s highly-valued fancy yellow diamonds, of which US jeweller Tiffany & Co was a major client. Mining operatoins ceased in July 2015 when Kimberley Diamond Company (KDC), which had operated the mine from 2002 to 2015, entered into administration.

Mining and Exploration

Namakwa Diamonds To Tender 30-ct Fancy Pink Stone in Antwerp

Namakwa Diamonds, the majority owner of the KAO mine in Lesotho, has announced the discovery and upcoming sale of its latest exceptional find, a 29.59 carat Fancy Pink diamond, named ‘The Rose of KAO’. The Rose was found on 12 June this year at Namakwa Diamond’s flagship mine KAO in Lesotho (owned 74.99% by Namakwa Diamonds, the rest by the government of Lesotho). The Rose will be shown and tendered in Antwerp with Bonas-Couzyn NV during KAO's fourth sale of the year (KAO-1804) from late September to early October.

Mining and Exploration

ALROSA's Profit Rises 19% in H1 as Rough Prices Climb

Russian diamond mining giant ALROSA said its first half net profit rose by 19 percent year on year to $865 million (RUB 58.3 billion) as higher average prices for gem-quality stones helped offset a drop in the volume of sales. Revenue increased by 8% to $2.5 billion (RUB 168 bn) on the back of higher average prices and a better sales mix, despite the 8% drop in sales by volume, with sales of gem-quality diamonds shrinking by 14%. ALROSA's EBITDA grew by 22% to $1.3 billion (RUB 89.1 bn), supported by higher top line and lower production costs.

Mining and Exploration

Botswana Diamonds' Partner Vast Resources Awarded Access to Marange Concession

Vast Resources, the AIM-listed mining company that signed last March a Memorandum of Understanding with Botswana Diamonds (BOD) to develop diamond resources in Zimbabwe, has been awarded exclusive access to a diamond concession area in the Marange Diamond Fields in the Chiadzwa region of Zimbabwe. According to a statement from BOD, the purpose of Vast's agreement is to carry out initial due diligence on the area with a view to concluding a joint venture agreement, the principal terms of which have been agreed, for exploration, mining and marketing.

Mining and Exploration

Conference on Geology of Diamond Deposits in Brazil Set for November

The 7th Conference on the Geology of Diamond Deposits in Brazil will be held in Salvador, Bahia, Brazil from November 4-7, 2018. "It is particularly appropriate that the 7th Conference will be hosted in the State of Bahia" the organizers write, "which is the largest producer of diamonds in Brazil, and the location of the first commercial diamond mine in Brazil which was developed on a kimberlite deposit, the primary source rock of diamond. This year’s conference also marks the 25th year since the first conference, which was held in the State of Mato Grosso in 1993." 

Mining and Exploration

Lucara Diamond Enlists Sarine Tech for "Stone By Stone" Sales Platform

Canada's Lucara Diamond, through its subsidiary Clara Diamond Solutions, has inked a cooperation agreement to include Sarine Technology's mapping and planning technologies into its sales platform, which applies algorithms to match rough diamond production with polished manufacturing demand on a stone by stone basis.

Rough MarketTechnology

Koin International Tenders To Debut KEM (Kimberley) Diamonds in Antwerp

Koin International Tenders has announced the addition of the KEM production (Kimberley Ekapa Minerals, South Africa) to its rough tenders. Previously offered only in South Africa, this sought-after production will now be offered at Koin tenders in Antwerp. An initial sale of over 66,000cts of 3Gr down and 10.80+ Single Stones will be on offer. Viewings for 10.80+ will be from August 20 to September 5, overlapping with Run of Mine production from the 28 August to 7 September.

Rough Market

Rio Tinto Opens New Pipe at Diavik Mine, NWT Canada

Rio Tinto yesterday celebrated the opening of a fourth diamond pipe, known as A21, at the remote subarctic Diavik Diamond Mine in the Northwest Territories of Canada, the miner announced in a press release. The new open pit pipe will provide an important source of incremental supply over the next four years to sustain production levels at the Rio Tinto operated mine. The A21 pipe is located adjacent to Diavik’s existing mining operations at Lac de Gras.

Mining and Exploration

More Synthetic Warnings: Huge Parcel Synthetic Melee at GIA, Stone Swapping in Israel

The Gemological Institute of America (GIA) last week published an article on a most curious discovery: "One Natural Melee Diamond Found in Large Batch of HPHT Synthetic Melee".

LaboratoriesRetail and Consumer ConfidenceLegal

Mountain Province Sets Production High, Earns Lower Prices at 6th Sale of 2018

Canadian miner Mountain Province Diamonds earned $22.2 million (C$28.9 million) from 334,751 carats of Gahcho Kué goods sold at its recently completed sixth diamond sale of the year. The average price earned of $66 per carat was lower compared to the previous sale of $85 a carat, "driven by a much smaller offering of fancies and specials and a slight softening in prices for smaller, lower priced diamonds," said Reid Mackie, the Company’s Vice President Diamond Marketing, but the price earned was in line with expectations. 

Mining and Exploration

De Beers Appoints New GM of Tracr Blockchain Platform

Tracr, the end-to-end diamond industry blockchain being developed by De Beers Group in collaboration with industry stakeholders, has announced the appointment of Jim Duffy as General Manager to lead the next phase of the platform’s development. Duffy assumes the new role as the platform starts to build greater scale, with more than $100 million worth of rough diamonds having been registered on the platform since the launch of the pilot in January 2018.

Retail and Consumer ConfidenceOrigin Tracking

Tiffany & Co. To Renovate Iconic NYC Flagship Store

Tiffany & Co. announced earlier this week it would undertake a three-year renovation of its iconic flagship store on Manhattan’s Fifth Avenue, made famous by the film Breakfast at Tiffany’s and "one of the most recognized jewelry retail spaces in the world," according to Anthony DeMarco.

Retail and Consumer ConfidenceJewelry

Diamond Development Initiative on FTC & LGDs: Truly Ethical is Artisanal

Ethics: it's "More than a PR issue!" The Diamond Development Initiative (DDI), a non-profit working to improve the lives and working conditions of artisanal and small-scale miners in Africa, issued a response to the recent decision by the US Federal Trade Commission (FTC) on synthetic diamonds and how it could impact the market for artisanally-mined diamonds.

Mining and ExplorationMarketingOpinion piece

Sales at Botswana's Okavango Diamond Company Down 16% in H1

Sales at Botswana's state-owned Okavango Diamond Company (ODC) fell by 16 percent in the first half of 2018 to $260 million, said managing director Marcus ter Haar, citing a high comparison base against last year's record growth, as Reuters reports. The company sold 1.778 million carats in the first half of 2018 compared with 1.808 million carats in the same period last year.

Rough Market

ALROSA Tests Transactions Using Russian Rubles

Russian diamond mining giant ALROSA has tested a new payment mechanism enabling foreign clients to purchase rough stones using Russian currency. As an experiment, transactions were conducted with clients from China and India, and if necessary, the company is prepared to use this payment scheme in rubles in the future. 

Rough Market