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Rio Tinto Opens New Pipe at Diavik Mine
Rio Tinto has begun mining the A21 pipe, an extension at itsDiavik asset that should allow the company to sustain production levels overthe next four years. The project took four years to construct at a cost...
Mining Aug 21, 2018 Rapaport News
Okavango Sales Fall in First Half
Sales at Okavango Diamond Company (ODC) dropped 16% to $260 millionin the first half of 2018 due to a limited supply of rough, Reuters reported. Sales volume declined 1.7% to 1.8 million carats, theBotswana-based trading company added...
Rough Markets Aug 21, 2018 Rapaport News
Lucara, Sarine Partner for Rough-Sales Program
Sarine Technologies will provide digital services for LucaraDiamond Corp.’s new rough-sales platform, allowing customers to obtain diamondswith the exact specifications they require. Under the agreement, rough stones will undergo Sarine’sGalaxy inclusion...
Mining Aug 21, 2018 Rapaport News
Emerald imitation
Fake Emerald Comprises Slabs of Glass
Fraudsters created an imitation emerald by assembling fivepieces of glass around a beryl core using a “laborious multi-step cut-and-glueprocess,” according to the Gemological Institute of America (GIA). The inside of the 3.35-carat stone — which the New Yorkbranch received...
Technology Aug 20, 2018 Rapaport News
Moshe Lax 600
Moshe Lax Faces $62M Fraud Lawsuit
The US Department of Justice (DOJ) is suing diamond andjewelry heir Moshe Lax, Ivanka Trump’s friend and former business partner, fortax fraud.Lax (pictured) and several of his family members sought to hide earnings from his...
Financial-Legal Aug 20, 2018 Rapaport News
Zambian Tax Authority Raids Gemfields Mine
The Zambian Revenue Authority (ZRA) launched aninvestigation into alleged tax evasion at the Kagem emerald mine, owned by Gemfields. In an unannounced visit to the mine last week, ZRA servedtwo search warrants on Kagem Mining and...
Mining Aug 19, 2018 Rapaport News
Trans Hex
Dubai Rough Tender Garners $21M
Trans Atlantic Gem Sales (TAGS) sold $20.9 million worth ofrough diamonds during a tender it held in Dubai in early August. The company sold 25,342 carats of high-quality stonessourced from mines in South Africa and Angola...
Polished Markets Aug 19, 2018 Rapaport News
NRF 150
US Retail Sales Up in July, Says NRF
US retail sales increased in July, as consumers continued tospend despite fears over the escalating trade war. Total purchases — excluding automobiles, gasoline andrestaurants — rose 0.4% over June sales and 4.9% year on year, accordingto...
Retail Aug 19, 2018 Rapaport News
Rapaport TradeWire August 16, 2018
Research Aug 16, 2018 Rapaport
Rapaport TradeWire August 16, 2018
Research Aug 16, 2018 Rapaport
Rapaport Logo
Rapaport Weekly Market Comment
Diamond markets quiet andconservative, with dealers in Belgium and Israel returning from vacation nextweek. Diamantaires hopingSeptember Hong Kong fair will stimulate stronger 4Q polished trading. IIJS showsees busy gold-jewelry section, but wholesalers...
Polished Markets Aug 16, 2018 Rapaport News
IIJS  day 4
India: Solid Jewelry Demand at IIJS
Activity relatively quiet following last week’sIIJS show. Polished trading slow as expected at the fair, but solid demand forgold and diamond jewelry. Retailers looking for lower price points, withlightweight gold and fancy-shape...
Research Aug 16, 2018 Rapaport News
GIA 150
Melee Parcel Contains Just One Natural Stone
The Gemological Institute of America (GIA) found just onenatural diamond in a melee parcel containing more than 1,000 undisclosedsynthetic stones, according to a recent lab note. The organization’s New York center received 1,102 smalldiamonds weighing...
Technology Aug 16, 2018 Rapaport News
Alrosa large rough
Alrosa Taking Diamond Payments in Rubles
Alrosa has accepted payment for rough sales in Russian rubles as partof a pilot program, claiming it is potentially faster and simpler than dollar transactions.With ruble payments, the money goes to branches of Russian banks outside of the...
Mining Aug 16, 2018 Rapaport News
Mountain Province
Lack of Large Stones Hits Mountain Province Sales
Mountain Province’s sales dropped at its July tender,as a lack of large and fancy stones led to a lower average price. The miner sold 334,751 carats of diamonds from its GahchoKué mine for $22.2 million, at an average...
Mining Aug 16, 2018 Rapaport News
Jim Duffy De Beers
De Beers Hires Tech Exec to Lead Blockchain
Tracr,De Beers’ blockchain platform, has appointed technology executive Jim Duffy to runthe next phase of the project’s development. Duffy (pictured) joins Tracr as general manager just as the platform is starting to grow inscale, the De Beers...
Technology Aug 16, 2018 Rapaport News
Annalise Fard Harrods
Harrods Names New Head of Watches and Jewelry
Harrods beauty director Annalise Fard has taken on an expandedrole as head of the London department store’s fine watches and jewelrydivision. Fard (pictured) will retain her responsibilities for the beauty segment and alsooversee Harrods’...
Retail Aug 16, 2018 Rapaport News
Joshua Gilbert Hearts on Fire
Hearts on Fire Promotes Three to VP
Hearts on Fire, Chow Tai Fook’s US jewelry brand, has namednew vice presidents in three different areas. All of the appointments are promotions from within thecompany, Hearts on Fire said this week. Krista Beerman, who...
Retail Aug 16, 2018 Rapaport News
H.K. Designs to Polish Endless Diamond Brand
H.K. Designs has signed an agreement with Fantasy DiamondCorp. to be the exclusive manufacturer of the Endless Diamond collection.The Endless design is based on the patented Touch Set setting, in which very little metal is used, enabling the...
Retail Aug 15, 2018 Rapaport News
Diamond swapping
Trade ‘Blind to Diamond-Swapping Threat’
Diamond dealers are failing to protect themselves against stone-swapping,and are instead waiting until an expensive loss occurs before taking action, equipmentsuppliers have warned. The switching of natural diamonds with synthetics or otherlower-value goods is a common...
Technology Aug 15, 2018 Joshua Freedman
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