Archive

  • The trade organization will continue to admit exclusively trade visitors to the 2016 event, as in previous years. “Across all industries, there are regularly controversial discussions on the opening of trade shows to consumers,” said Klaus Dittrich, Chairman and CEO of Messe München. "INHORGENTA MUNICH has closely examined this topic, which is also of public interest. We would not like to follow the example of other trade shows blindly, but first and foremost take the best decision in the interest of our exhibitors and specialist dealers.

  • Industry body, the International Colored Gemstone Association (ICA), has signed a memorandum of understanding to open a gem-grading lab in Bangkok next year, ICA President Benjamin Hackman told JCK. Arrangements are still being finalized, he said, adding that the ICA will not run the lab but will license its name to Chinese gem dealer Chang Hatta. ICA will receive royalties from the lab, and its members will receive discounts. With an increasing need for colored stone reports, there is a strong need for more gemstone labs, Hackman commented.

  • The death toll from a landslide near a jade mine in northern Myanmar has exceeded 100, local authorities said, with fears that the number will rise even more as rescue teams dig through a tons of displaced earth. More than 120 people were buried in the landslide in the Kachin State area of Hpakant, a mountainous area of northern Myanmar that is home to the world’s most valuable jade. As of Monday, 105 bodies had been recovered, but it is estimated that there are more than 100 people still missing

  • Gemfields announced the results of its auction in Jaipur, India of predominantly lower quality rough emerald extracted by Kagem Mining Ltd (75% owned by Gemfields and 25% by the Government of the Republic of Zambia) in Zambia. The company states it achieved record auction revenues for lower quality auctions of $19.2 million and set a new record of $4.32 per carat for lower quality auctions.

  • Emerald and beryl production from colored gemstone miner Gemfields' Zambian unit Kagem Mining Limited jumped to 7.5 million carats in the firm's first fiscal quarter to September 30. However, ruby and corundum output from the Montepuez mine in Mozambique in which it has a 75-percent holding, dropped to 500,000 carats. But the miner pointed out that the volume of higher-quality rubies recovered soared 96 percent.

  • Last summer, Ozy published a story on efforts to revitalize and legitimize the mining and polishing of gemstones in Afghanistan, a trade which, if successful, could contribute to its wrecked economy. Afghan emeralds are considered among the finest in the world by some international experts, but while the country therefore has potential to grow within the colored gemstone market, it is difficult to mine and process the stones given the precarious political situation in this stil

  • The Swiss-based Gübelin Gem Lab and Swiss Gemmological Institute SSEF have agreed to harmonize their standards for the color terms “pigeon blood red” and “royal blue.” Their goal is to standardize the usage of these terms for the benefit of the international gemstone trade. The terms have become increasingly popular in recent years as some labs use them in their marketing of grading reports, but agreement on the precise colors has been difficult to achieve since they are considered to be highly subjective.

  • India's Ministry of Commerce and Industry is expected to announce on November 3 the extension of incentives under the ‘Make in India’ initiative for the gem and jewelry sector. The short-term and medium-term initiatives include the establishment of Special Notified Zones (SNZ) for the sale of rough diamonds by mining companies, a reduction of net profit rates for the diamond industry to 2.5 percent from 6 percent, reductions in import duty on gold and silver to 2 percent from 10 percent, and zero percent for cut and polished colored gemstones from 2.5 percent among other measures.

  • Global Witness has issued a major report, "Jade: Myanmar's 'Big State Secret'", revealing an industry far bigger than previously thought, worth up to US$31 billion in 2014 alone (for the sake of comparison, the value of 2014 global diamond mining is estimated at $14-18 billion). That is equivalent to nearly half the GDP for the whole of Myanmar, but hardly any of the money is reaching ordinary people or state coffers. Instead, the sector is secretly controlled by networks of military elites, drug lords and crony companies associated with the darkest days of junta rule.

  • The inaugural International Emerald Symposium took place in Bogota, Colombia from October 13 to 15, with addresses by representatives of governments and the private sector from Colombia and other important centers of the emerald trade across the globe. The event was supported by all the country's emerald-related bodies. Organizers said it was the first time that producer countries had come together at a high-level international gathering to address issues relating to the emerald business.

  • The Cowdray Pearl Necklace composed of 42 natural grey pearls was the outstanding sale at Sotheby’s Magnificent Jewels and Jadeite sale in Hong Kong, selling for $5.27 million. The necklace set a world record price for natural gray pearls. The last time it was auctioned, in London three years ago, it was sold for $3.35 million.

    Another highlight of the sale was the 'Jewel of Kashmir,' a 27.68-carat sapphire and diamond ring which was sold for $6.7 million or $242,145 per carat, and creating a new world record.

  • The Ministry of Finance may consider lifting duties on colored gemstones, according to Deputy Finance Minister Alexey Moiseev at the 3rd International Economic Jewelry Forum. "Russia produces virtually no colored gemstones. In fact, the vast majority of colored stones are imported because of the fact that production in Russia was not preserved," said Moiseev, adding that import duties on equipment used in the production and processing of precious metals and stones may also be lifted.

  • A rare British-owned gemstone steeped in history and intrigue sold for a record price of $30,000 per carat at Bonhams Fine Jewellery sale in London. The previous world record price per carat for a faceted Spinel was $16,000 which was set in 2013.

  • Emeralds and rubies miner Gemstone miner Gemfields said an independent report by consultancy firm SRK shows that its 75% owned Kagem mine in Zambia is now set to produce 1.10 billion carats over a 25-year mine life, considerably more than initially forecast. The total indicated and inferred mineral resources of emeralds and beryl at the mine is now estimated at 1.8 billion carats. Kagem is forecast to produce 44.7 million carats per year on average over its mine life.

  • Global colored gemstones miner Gemfields has further expanded its hold on the market with the acquisition of controlling interests in two emerald projects with operations and prospects in Colombia. The firm already has majority stakes in emerald, ruby and amethyst operations in Zambia and Mozambique.

  • Gemfields said a sale of emeralds and amethyst in Singapore met expectations, with 37 companies placing bids in the miner's first auction of its financial year. The auction followed seven successive emerald auctions held in Lusaka, and marked the return of Zambian emerald auctions to a wider international market.

  • London-based Graff Diamonds has disclosed its Fall advertising campaign featuring exceptional diamonds in four images on the theme of nature’s fundamental elements: earth, water, air and fire. The campaign is being launched in newspapers, magazines and online platforms, with the images also being displayed at Graff’s 55 stores in the UK, Europe, North America, Africa, Asia and the Middle East.

  • The new Sri Lankan government which took office last month will give strong support to the country's gem and jewelry industry, providing incentives to help reach an annual export earnings target of $1 billion. “You need to tell us what we need to do to get you there,“ said Kabir Hashim, former minister of highways and investment promotion at the opening of Facets, Sri Lanka’s annual gem and jewelry show.

  • The 'Hope Spinel' is being put up for sale for the first time since 1917 by London auction house Bonhams. The stone was once owned by renowned gem collector Henry Philip Hope, and is part of the same collection as the famous Hope Diamond. Bonhams says it expects the stone to sell for around $230,000 to $300,000.

  • JAS 2015, the 9th edition of the Jewellers Association Show, will be taking place in Jaipur, India's colored gemstone center, from August 21 to 24 at the Jaipur Exhibition and Convention Centre, Sitapura. The new venue enables the show to expand and improve facilities, organisers said. The show will host around 500 booths covering different elements of the jewelry and colored gemstone trades, compared with 330 booths at last year’s event.

  • The Colombian Emerald Federation (Fedesmeraldas) will host the first International Emerald Symposium in Bogotá. The meeting aims to address the challenges and opportunities facing the emerald industry, including resource management, manufacturing, treatments, certification, nomenclature, technology, consumer education and branding. The symposium will be the first time that producer countries have come together at a high-level international gathering to address issues relating to the emerald business.

  • A sharp decline in sales of rough goods by the jointly owned De Beers-Botswana mining firm Debswana and by the Okavango Diamond Company (ODC) in the first half of this year is likely to hit the country's budget. Finance Minister Kenneth Matambo in February, citing projections of a 10 percent growth in minerals revenues, announced forecasts of a P1.23 billion 2015-2016-budget surplus. But dropping diamond sales and a revision downwards for output this year will see Botswana's diamond revenues take a hit.

  • The miner's 75-percent owned Kagem emerald mine in Zambia produced 8.1 million carats of emeralds and beryl in the quarter ended June 30, the full 2015 financial year seeing output of 30.1 million carats of emerald and beryl. That compares with 6.2 million carats and 20.2 million carats, respectively last year.

  • Gemstone miner Gemfields plc plans to increase the amount of cut and polished gemstones from polishing firms, mostly in Jaipur, India's colored gemstone center, in a bid to enhance liquidity support. The move was announced by Gemfields COO Dev Shetty who said that the decision was taken to support the manufacturing sector of the colored stones industry, which typically lacks access to bank funding and finds it difficult to participate in Gemfields' rough stones auctions.

  • Colombia is hosting an inaugural International Emerald Symposium from October 13 to 15 in Bogotá. The conference is organized by Fedesmeraldas, the Colombian Emerald Federation, and supported by all the country's emerald-related bodies and the Ministry of Mines and Energy. The conference aims to address the challenges and opportunities faced by the emerald industry including resource management, manufacturing, treatments, certification, nomenclature, consumer education and branding, say the organizers.

  • The International Colored Gemstone Association (ICA) has appointed Gary Roskin as its executive director. A gemologist and journalist with extensive gems and jewelry industry experience, Roskin will be responsible for ICA's day-to-day activities.

  • Precious stones miner Gemfields has announced that an independent report has confirmed its majority-owned Montepuez ruby mine in Mozambique has enough reserves to last at least 20 years. According to the report, the mines indicated and inferred mineral resource stand at 467 million carats of ruby and corundum at a grade of 62.3 carats per tonne of ore. It also estimates probable ore reserves of 432 million carats at a diluted grade of 15.7 carats per tonne over 21 years.

  • The American Gem Trade Association (AGTA) has made a few revisions to its Code of Ethics and Fair Business Practices document that are designed mostly to stress the importance of transparent supply chains in the colored gemstone world. AGTA CEO Doug Hucker said that revisions emphasize that members must do everything they can to assure the stones have been sourced in legitimate fashion and to comply with U.S. and international laws.

  • Leading gemstone producer Gemfields reported $29.3 million in sales at its latest rough ruby auction which took place last week, with a highlight being the sale of a rare matching pair of rough rubies discovered earlier this year which together weigh 45 carats. The matching pair of rubies was purchased by renowned ruby house, Veerasak Gems of Thailand.

  • Outstanding diamond and jadeite jewelry were the highlights at Tiancheng International's Jewellery and Jadeite Spring Auction, as strong demand continues to be seen from collectors and investors. Tiancheng reported that 74% of the 268 lots were sold, led by eight pieces that were bought for more than $1.28 million.

  • The gemstone miner plans to sell a pair of matching rough rubies from its Montepuez mine in Mozambique, weighing a total of 45 carats, at its next auction to be held from June 16 to 21 in Singapore.

    Last month a 25.59 carat Burmese ruby – described as pigeon blood color – sold at Sotheby's in Geneva for a record $30 million.

  • The auction house is offering free jewelry appraisals for clients in the United States and Canada interested in putting jewelry items up for sale. The firm said that many millions of dollars’ worth of earrings, necklaces, bracelets and other jewelry items are put away in drawers and forgotten due to changing tastes without their owners being aware of their value.

  • The June 2 sale was led by fancy colored diamonds and colored gemstones, and created new records for fine jewelry auctions in Asia, Christie's reported.

  • The GIA's ninth annual open day on June 12 will open its doors to the public for a range of seminars. These include a discussion of gemology, diamonds, ruby, sapphires, and emeralds, the history and value elements of pearls, jewelry design, and how to study with the GIA.

  • The biggest diamond, jewelry and gemstone trade show in North America, which ran from May 29 to June 1, concluded on a positive note overall, reports Diamond World. Stability in the all-important American market helped create positive sentiment. Meanwhile, there was interest in CVD and HPHT-created diamonds, with visitors asking for information about quality and prices. In the jewelry arena, new and innovative jewelry did well, while demand for precious gemstones was slow.

  • The 10.15-carat D/IF Type IIa diamond was bought for HK$10.66 million (around $1.4 million) at Luxeford’s Spring Fine Jewels sale in Hong Kong. The sale last week also featured diamonds and gemstones.

  • In an interview with Rough&Polished Africa Editor-In-Chief, Mathew Nyaungwa, Tanzania’s Tanga Small Scale Miners Association says it is looking at possibilities of exporting the stones on their own, therefore cutting out the middle-men. The association represents 14 small scale miners, each of which has their own Primary Mining License, and a co-operative red garnet mining site they mine together.

  • The 2015 Congress of the International Colored Gemstone Association ended on Wednesday with a panel discussion covering all the key themes discussed in different sessions over the previous two days. These included the possibility of creating harmonization among the major laboratories regarding the use of descriptions like Pigeon's Blood Red and Royal Blue in grading reports and the need for disclosure.

  • Gemstone miner Richland Resources has started commercial output of sapphires at its Capricorn Sapphire mine in Queensland. Work has commenced at an open pit, and sapphire-bearing ore is being processed at Capricorn Sapphireʼs purpose-built alluvial processing plant.

  • Top officers from the World Jewelry Hub's Phase I building, the home of the Panama Diamond Exchange, will be attending the JCK Show in Las Vegas for meetings and other events. The trade fair, North America's largest such event, takes place from May 29 to June 1.