Archive

  • Lucara Diamond Corp, owner of the Karowe mine in Botswana and HB Antwerp, the diamond trading and manufacturing company based in Antwerp have agreed to extend the exclusive deal on all of Lucara's +10.8ct diamonds, which account for approx. 70% of Lucara's total revenue, for 24 months. HB Antwerp will continue to get exclusive access to purchase the miner's specials until the end of 2022, for a price determined on the projected polished outcome, and an additional true up, minus handling fee and manufacturing cost, once the diamond is actually sold.

  • Idex reported a 3.9% increase in polished diamond prices year-on-year, the biggest surge in over two years. Prices have consistently been on the ruse since the low point of April 2020, when the price was down by 4.8%. The March increase was more than double the February rise of 1.9 %.

    Month-on-month prices recovered slightly, which are up by 0.2% in March, after a slight drop in February. This follows January's 1.4% leap, the biggest rise for at least three years.
    November was down 0.2% and December was up slightly, at 0.3%.

  • Lucapa has announced it has recovered another large stone, 144 carat Type IIa D-colour diamond, from Mining Block 08 (MB08). The diamond is the sixth +100 carat diamond recovered in 2021 so far and the 23rd +100 carat stone recovered at Lulo since exploration and mining operations began.

  • The Bharat Diamond Bourse is fully closing as of 8PM tonight until further notice as the Maharashtra Govt declared a state-wide lockdown and curfew after the official number of Covid cases peaked to over 57.000 in the state, 11k in Mumbai alone on Sunday. 

  • HRD Antwerp launched the first report for traditional and authentic Polki diamond jewellery: 'Authenticity Jewellery Report – Your Blueprint of Assurance'.

    The unique Polka jewellery, handcrafted and inspired by fauna, flora and architectural elements, symbolize a critical element of the traditional cultural diamond heritage of India and have gained popularity on the international market. With this report, HRD Antwerp aims to bring additional value to these timeless jewels.

  • Petra Diamonds has recovered a 39.34 carat Type IIb blue diamond of exceptional quality in terms of both its colour and clarity at the Cullinan mine in South Africa. The Company anticipates that the diamond will be sold via a special tender.

  • First Element Bv today  announced that they have sold the 162.66Ct exceptional stone on their tender last week held in Antwerp, Belgium. The stone was viewed by over 100 companies during the tender period and received extremely strong interest from the Antwerp market, First Element said, which reflected in the highly competitive bidding for the stone. The stone sold for a total price of well over $3 Million

  • With Generation Z becoming adults and thus consumers, the sustainability decade is underway. It's widely known Gen Z is willing to reward brands that have a positive impact on the environment and society and disconnect from those that do the opposite. So luxury brands have to step up their game if they want to be agents of change when it comes to sustainability and they should act now. Bain & Company collaborated with sustainability specialist Positive Luxury to paint a picture of what a leading luxury brand might look like in 2030.

  • Last week, Diamond and jewelry industry veteran Kim Jong-mok was inaugurated during as the 32nd president of the Korea National Retailers Association, the largest and one of the oldest organizations in the Korean jewelry industry. In his opening address, Kim spoke about his ambition to boost the Korean jewelry industry and the opening of the SNDGE (Seoul Natural Diamond Gem Exchange) and online platform (SNDGE App).

  • Lucapa announced the recovery of an additional three +100ct and two +50ct diamonds, now totalling six rough diamonds over 100ct discovered in the last three months alone at Mining Block 46 or one +100ct for every 20k cubic meters of gravel. These statistics and recoveries support the potential of the adjacent Canguige catchment and kimberlites close to the Lulo alluvial mine. 

  • AGD Diamonds, the Russian miner that sells its goods via Antwerp-based GRIB Diamonds, announces the recovery of a large, 72.94ct rough diamond from its Grib diamond field, continuing the trend of 2020, a year in which 7 50ct+ stones were brought to surface. On a more global level, in recent years more and more large rough diamonds are found, thanks to technological developments in mining processes.

  • Alrosa today announced that the combined results of its recent specials auctions in honor of the miners’ 100th auction, totaling US$23.9m. Of that number, US$10.7m came from the sales in Antwerp, US$5.5 from its digital auctions and US$7.7m was achieved from the sale of three large stones (242.31ct, 190.74ct and 136.21ct) at the 100th “Jubilee Auction”.

  • Lucapa announced a parcel of selected Mothae stones including a 213ct white diamond and 11ct pink, was prepared, analyzed and sold successfully in Antwerp for US$1,050/ct or a total of US$5.9m to the miner’s purchasing partner. The sale was conducted under the partnership agreement with the Kingdom of Lesotho, maximizing revenue for the country through a share in the final sales outcome of the (selected) stones from the parcel, once they are polished in Antwerp. 

  • Covid-19 had a dramatic impact on trade shows and many companies tried replacing them by virtual meetings. Even though companies’ turnovers were unaffected because exhibitors saved money – booths, hotels, travel, etc. - by not participating, virtual meetings lack attendee engagement compared to the live events and face-to-face meetings still prove to be most successful in networking. Furthermore, companies have to be where competitors are, so when trade shows get back on track, companies that ignore them will fall behind.

  • Lucara Diamond Corp announces five leading international financial institutions, including ING Bank NV, Natixis, Société Générale London Branch, Africa Finance Corporation and Afreximbank, are mandating +US$200m senior debt facilities for the underground expansion of the company's 100% owned Karowe mine in Botswana, extending the mine's lifespan until at least 2040, expected to generate over US$4bn in revenues. Total capital cost for the expansion is estimated at US$514m over a period of five years.

  • Lucapa announces its Mothae expansion project, the re-commissioning of the upgraded processing plant, was completed successfully, expanding processing capacity at the Lesotho kimberlite mine by 45%, to 1.6 million tonnes per annum starting Q2 2021. Lucapa's Mothae production is sold via tender in Antwerp, alongside partnerships with manufacturing companies in accordance with the marketing agreement the company made with the Government of Lesotho, to maximize on the added value generated by the cutting and polishing and final sales of its precious resources.

  • Luxury male accessories are traditionally tie clips, cufflinks and belt buckles, or for those with a more edgy look, gothic rings or rapper-inspired chains. But for China’s growing segment of young, fashion-fluent men, those style conventions are not enough. Although in the West Millennials and Gen Zers associate diamonds with a romantic notion such as a proposal or marriage, Chinese consumers do not. In China the cultural detachment allows more young men to buy diamonds as a fashion statement instead.

  • Roy Safit (Everledger) provides good reasons why the natural diamond industry is robust enough to cope with the growth of synthetic alternatives.

    Lab-grown diamonds have been portrayed as a juggernaut that’s gathering pace in the fast lane of the precious stone freeway. The demise of the natural pearl industry, following the introduction of cultured pearls during the first decades of the 20th Century, provides a stern warning for the diamond industry.

  • Grib Diamonds sold over 620K carats of Grib and Angolan production on Thursday 18th March in Antwerp Belgium via its online Ascending Clock Auction. Total revenues were over $50M.

    Prices in Specials and +4Gr goods showed continued strength, whilst goods were predictably weaker in the smaller and cheaper areas, Grib commented. The next sale for Grib will start on April 14th

  • A recent clip from Euronews spotlights Angola's efforts to build a transparent and sustainable diamond industry, part of President Lourenço's reform agenda, at the development site of Saurimo, Lunda Sul. 

  • The World Diamond Council (WDC) and Responsible Jewellery Council (RJC) have entered a cross-membership partnership and signed mutual codes of conduct. The two leading diamond and jewelry industry organizations are dedicated to the adoption of responsible business practices across the supply chain.

  • In a press conference earlier today, the Antwerp World Diamond Centre, together with the City of Antwerp, announced they would (re)organise a diamond polishing course.

  • Consumers don’t like feeling rushed when making luxury purchases, and brands like Breitling have found a suitable solution. #BreitlingSelect allows subscribers to try up to three Breitling watches in a year from a dedicated portfolio of timepieces. Part of the offer is that the subscribers will then be able to purchase one of the three watches at a special price.

  • In its next tender, slated for March 17 to 23 in Antwerp, First Element will be offering an exceptional 162ct white stone as part of its South African alluvial production.

  • Antwerp figures, released by the AWDC, indicate the trade in rough diamonds continues to boost recovery from the pandemic year, as rough trade even surpassed the February figures of 2020. January and February 2020 were the last months before the global outbreak of the COVID crisis, now exactly one year ago, when strong performances were recorded across the board and the industry seemed to finally rise from the dip of 2019.

  • Although the pandemic has continued to dominate headlines, a year after the outbreak in the US and Europe, an Israeli study has underscored the effectiveness of the vaccine in preventing infection. This, along with news of the Biden administration accelerating the vaccine rollout in the US, and the UK’s successful vaccination program, has given consumers hope that there is light at the end of the tunnel.

  • Russian miner Alrosa records a strong performance, with total sales of rough and polished diamonds amounting to over US$800m in January and February 2021. Rough sales totaled US$782m, compared to US$732.5m in 2020, while polished sales rose from US$18.9m in 2020 to US$21m this year (2021). “The recovery in demand for diamond jewelry in key markets well continued in early 2021 thus providing a good support for rough diamonds sales. We believe the current supply and demand balance is comfortable for both miners and buyers of rough diamonds,” said Evgeny Agureev, Deputy CEO of ALROSA.

  • For a century Chanel No.5 has been the house’s signature scent. To commemorate the occasion a necklace was crafted with a D flawless emerald cut, octogonal diamond, that evokes the shape of the scent’s signature bottle — cut to weigh exactly 55.55 carats.

    The D flawless diamond is surrounded by 104 round diamonds and 42 baguette diamonds. The necklace re-creates the profile of the perfume bottle stopper and the bottle’s shape, before spilling into a cascade of pear-sharped diamonds of varying sizes, lending an abstract style to the piece.

  • Petra Diamonds has successfully sold the 299ct Type IIa white rough diamond, recovered from the Cullinan mine in January this year, at its recent Antwerp tender, for US$40,701 per carat or US$12.18 million to Stargems. 

  • French luxury group Kering, the parent company of Boucheron and Pomellato, has purchased a 5% stake in Vestiaire Collective, a pre-owned luxury e-commerce platform. With this latest move, the company is betting on the booming resale market to help woo younger and more environmentally conscious shoppers.

    The investment is part of a 215m USD financing round announced on Monday which valued Vestiaire Collective at more than 1bn USD, the company said. Existing shareholders include Conde Nast and the French private equity firm Eurazeo.

  • Alrosa, the Russian diamond mining giant reports that despite a strong Q4 2020, with especially strong sales volumes of smaller diamonds, total revenue for the year fell 7% to US$3bn, output fell 22% to 30m cts and net profit dropped 49% to US$440m, a direct impact from lower sales, as the miner upheld maximum flexibility throughout the pandemic, to avoid stockpiling, as well as a weaker rouble.

  • Lucapa has announced it has recovered another large stone; a 114ct top white diamond, the 19th +100ct recovered at Lulo, and the third 100+ct rough from the MB46 block, close to the Canguige catchment and priority kimberlites. The frequency of the recovery of three large, high quality stones in barely 8 weeks underscores the potential of the Cacuilo valley and Canguige catchment area. Recently the 16km haul road from the Canguige catchment was finished and Lucapa says it will start bulk sampling the priority kimberlites as soon as the wet season is over.

  • To enhance the use of data and ensure customers create value from the rough they buy, De Beers wants to introduce a tracking program for the diamonds it supplies to sightholders. In its new supply contract the company will ask manufacturers to share the outcome of the polished yield, reports Rapaport News. This would allow the miner to verify that the rough sold to manufacturers had been polished by them, rather than sold to a third party. Additionally, it would enable source verification and market intelligence.

  • Following a nearly two-year-long legal battle, the UK courts have ruled that Nirav Modi, 49, who allegedly defrauded Indian state-run Punjab National Bank (PNB) of $2 billion, will be extradited to India.

    Earlier today a UK judge ruled that Modi can be extradited to India, dismissing arguments such as his mental health worsening during the pandemic and the conditions of an Indian prison. "I am satisfied that Nirav Modi's extradition to India is in compliance per human rights," District Judge Samuel Goozee said.

  • Belgian-based company Almax easyLab, a company specialized in producing super precise polished diamonds for high-tech scientific applications, is playing an instrumental role in the recent NASA mission to Mars. They have polished the natural diamond, sourced via Antwerp, the world’s leading diamond hub, that is used in a spectroscope, a device that enables the search of signs of life on Mars, on board of NASA’s Mars-Rover robot Perseverance.

  • GIA recently discovered a number of diamonds, submitted at GIA for an update on their grading report, for which the characteristics did not correspond with the grading of the certificate. All stones turned out to be either LGD or treated natural diamonds with a counterfeit laserinscription on the girdle, while the original certificates all belonged to natural, untreated diamonds. 

  • Rapaport reports that prices at De Beers' latest sight were up significantly, 2-4% in the 1 to 2 carat sizes and even a steep 10% in the 5-10ct stones, the third consecutive price hike the miner implemented at its sights. While official results of this cycle have not yet been announced, insiders say sales have been thriving as much as they did at the December in January sights, when rough purchases were spurred by low inventory levels following the 2020 holiday season and continued demand in view of the Chinese New Year and Valentines Day.

  • In a release detailing its operational results for the COVID year 2020 and the last quarter of that year, Lucara clearly demonstrates its strengths, recording a strong performance despite the pandemic. Total revenue (regular tenders, Clara plus the HB  and Louis Vuitton agreement) amounted to US$125.3m, compared to US$192.5m y-o-y, a remarkably strong performance considering the impact of the COVID-19 pandemic. A strong Q4, with revenue of US$42.4m at an avg US$402/ct marked a global recovery on the rough market, a trend which is continuing in 2021.

  • A lovely springtime sun is warming up the Antwerp diamond square mile, boosting temperatures from snowy below zero barely a week ago to a pleasant 15°Celcius. The weather is echoing the sentiment on the market and at Petra Diamonds, as both have emerged from tough times probably stronger than before.

    Since the outbreak of the pandemic in March last year, Petra Diamonds was one of the first to shift gears as the world was paralyzed. The Johannesburg sales were put on hold and the miner started focusing its sales on Antwerp, where operations continued despite global lockdowns.

  • While most of the world went into lockdown in the spring of 2020, Dubai and Antwerp reopened for business in the summer. Both centers held viewings for goods as clients were unable to travel to remote locations such as - in the case of De Beers clients - Botswana.