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Mountain Province
Rough Slump Hits Mountain Province
Sales of rough diamonds at Mountain Province fell 13% in 2019 as a glut in the midstream led to a challenging market.The company’s sales from its Gahcho Kué mine in Canada slipped year on year to $208.2 million in 2019, it said last...
Mining Jan 26, 2020 Rapaport News
De Beers
De Beers Sales Volume Down in 2019
De Beers’ sales fell 8% by volume last year amid a slowdown in the rough-diamond market and weak demand from the manufacturing sector.The miner sold 30.9 million carats of rough, compared with 33.7 million carats in 2018,...
Mining Jan 26, 2020 Rapaport News
Alrosa
Weak Rough Market Dents Alrosa Sales
Rough-diamond sales at Alrosa fell 26% in 2019 as an oversupply in the midstream led to weaker demand.Revenue for the year dropped to $3.27 billion, while the average selling price slid 16% to $98 per carat, the Russian...
Mining Jan 26, 2020 Rapaport News
Rapaport Logo
Rapaport Weekly Market Comment
Polished sentiment positive following steady holiday sales. Strong interest in 0.30 ct., D-F, IF-VS1, but high-end 3 ct. and larger weak. Increasing rough demand raising polished-oversupply concerns as large quantities expected to enter market...
Polished Markets Jan 23, 2020 Rapaport News
India gold jewelry
India: Chinese New Year Offering Some Optimism
Polished slower than usual for this time of year. Dealers worried about repeat of 2019 diamond glut as they anticipate influx of rough following large De Beers and Alrosa January sales. Chinese New Year offering...
Research Jan 23, 2020 Rapaport News
Rapaport TradeWire January 23, 2020
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Research Jan 23, 2020 Rapaport
Rapaport TradeWire January 23, 2020
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Research Jan 23, 2020 Rapaport
De Beers rough
De Beers Plans Overhaul of Supply Policy
De Beers plans to abandon its practice of using sightholders’ purchase history as the main factor in determining how it allocates rough supply, sources have told Rapaport News.The move, which would go into effect from 2021, would...
Rough Markets Jan 23, 2020 Joshua Freedman
Gem Legacy
Gem Legacy Adds New Advisory Board Member
Craig Danforth will join the advisory board of Gem Legacy, a nonprofit organization dedicated to supporting African colored-gemstone mining communities.Danforth, the vice president of client solutions for Jewelers Mutual Group, has more than 25 years...
Mining Jan 23, 2020 Rapaport News
DelGatto Koin
DelGatto and Koin Partner on Tender Financing
DelGatto Diamond Finance will provide funding directly to customers of rough and polished tender operator Koin International. “All buyers can obtain financing,” DelGatto founder Chris Del Gatto told Rapaport News Wednesday. “It...
Rough Markets Jan 23, 2020 Leah Meirovich
RetailRap
How to Sell Luxury Products to Millennials
Millennial consumers are independent, vocal, tech-savvy and used to getting what they want. They have disposable income and aren’t afraid to spend it on things they believe add value to their lives, no matter the price...
Retail Jan 22, 2020 Leah Meirovich
BlueRock
New Production Strategy Pays Off for BlueRock
BlueRock Diamonds reported the first annual profit in its history, as sales grew amid increased production and a higher average price, the miner said Tuesday. The improvement was the result of a new initiative the...
Mining Jan 21, 2020 Rapaport News
GIA Matryoshka 150 Centered
GIA Examines Alrosa’s Matryoshka Diamond
Three months after Alrosa revealed its discovery of a diamond-within-a-diamond, the Gemological Institute of America (GIA) has proposed an explanation for how this mysterious phenomenon came about. The GIA’s team, which examined the stone...
Mining Jan 21, 2020 Rapaport News
NRF Holiday Sales
Holiday Sales Rise Amid Positive Sentiment
US retail sales increased 4.1% during the recent holiday season amid steady consumer confidence, the National Retail Federation (NRF) said.Total sales for the November-to-December period were $730.2 billion, according to the NRF,...
Retail Jan 20, 2020 Rapaport News
jewelry tariffs
US Trade Continues to Downsize
The US jewelry industry contracted in 2019 as the number of businesses closing shop continued to exceed new entrants.The sector shrank 3.3% to 24,565 companies active in the fourth quarter, compared with 25,400 a year earlier, according to data...
Retail Jan 20, 2020 Rapaport News
GIA Susan Jacques
JVC Honors GIA’s Susan Jacques
The Jewelers Vigilance Committee (JVC) has presented Gemological Institute of America (GIA) CEO Susan Jacques with the Stanley Schechter Award.The accolade, which was established in 2002, recognizes industry leaders who have raised...
Polished Markets Jan 20, 2020 Rapaport News
Luk Fook Hong Kong store 2016
Luk Fook to Reduce Hong Kong Presence
Luk Fook plans to scale back its Hong Kong store network and expand in mainland China and Macau, as events in the region have influenced consumer spending.The retailer expects a “single-digit” decrease in the number of rental...
Retail Jan 20, 2020 Rapaport News
Alrosa
Alrosa Takes First Step Toward Reopening Mir
Alrosa has begun drilling at its Mir mine to test whether reopening the deposit is economically viable.This phase, which it will carry out through 2021, will help define the mine’s dimensions and the quality...
Mining Jan 20, 2020 Rapaport News
Bonhams
Bonhams Expands Global Jewelry Team
Bonhams has hired Eleonora D’Ottavi in its latest effort to build up its global jewelry business.D’Ottavi will join the auction house as head of jewelry for Italy, responsible for providing valuation services and sourcing gems...
Polished Markets Jan 20, 2020 Rapaport News
Enzo
Chow Tai Fook Buys Chinese Retailer Enzo
Chow Tai Fook has acquired Enzo Jewelry, a colored-gemstone brand with around 60 retail locations in mainland China.Enzo, founded in 2004, targets “modern, sophisticated and self-confident women who demand fashionable jewelry with a highly distinctive...
Retail Jan 19, 2020 Rapaport News
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