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Alrosa Green-Lights Akhail Mine Expansion
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Alrosa will deepen its Akhail underground deposit, extendingthe mine’s life by 10 years and adding 20 million carats to the resource. The project will cost the Russia-based miner RUB 10 billion($156.9 million), and will be carried...
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Mining
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Apr 23, 2019
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Rapaport News
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Argyle Yields its Largest Ever White Diamond
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Rio Tinto’s Argyle mine has yielded the largest gem-qualitywhite diamond in its 35-year history, the miner said Tuesday. The 28.84-carat stone, named Argyle Octavia for itsoctahedral shape, was discovered at the Australia-located...
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Mining
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Apr 23, 2019
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Rapaport News
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China Bourse to Promote Lab-Grown Diamonds
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The Guangzhou Diamond Exchange (GZDE) has signed a strategiccooperation agreement with China’s major synthetics suppliers to develop andpromote lab-grown diamonds in the country, the bourse said Tuesday. The parties signed the contract last...
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Polished Markets
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Apr 23, 2019
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Rapaport News
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Manufacturing Slump Hits Sarine Earnings
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Sarine Technologies expects a loss in the first quarter, amid market uncertainties that led to soft demandfor equipment used in diamond manufacturing. The net loss will be between $1 million and $1.5 million, the company cautioned...
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Polished Markets
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Apr 23, 2019
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Rapaport News
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HRD Head to Lead IDC Board
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The International Diamond Council (IDC) has elected HRD Antwerpchairman Julien Drybooms as chairman of its board. He has also served on the executive committee of the WorldFederation of Diamond Bourses (WFDB) and is the owner of diamond companyDrybooms...
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Polished Markets
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Apr 23, 2019
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Rapaport News
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Stornoway Appoints New Finance Chief
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Dino Rambidis will replace Orin Baranowsky as chieffinancial officer of Stornoway Diamond Corporation.“Dino…is a seasoned leader with extensive financialexperience, and is a valuable addition to our leadership team,” Stornoway CEOPatrick Godin said last week. Rambidis will...
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Mining
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Apr 22, 2019
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Rapaport News
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Jewelry Business Closure Rate Slows
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The US jewelry trade continued to downsize in the first quarter, albeit at a slower pace than in previous years, data from the Jewelers Board of Trade (JBT) revealed. The number of jewelry businesses exiting the market dropped64%...
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Retail
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Apr 22, 2019
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Rapaport News
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Chow Tai Fook Sees Strong Growth in China
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Chow Tai Fook’s sales increased in the fourth quarter, amida rise in demand for gold products and stronger consumer sentiment on themainland. Retail sales jumped 24% in mainland China in the threemonths ending March 31,...
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Retail
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Apr 22, 2019
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Rapaport News
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Signet Implements More Job Cuts
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Signet Jewelers is laying off an undisclosed number of employeesfrom its Ohio and Dallas locations, after it failed to find enough interest ina voluntary exit package it offered workers. The cuts are part of a cost-saving effort the...
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Retail
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Apr 22, 2019
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Rapaport News
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GIA Names New Director of Relations
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The Gemological Institute of America (GIA) has appointedShahdeh Ammadi director of institute relations, a newly created position. In her role, Ammadi will oversee the institute’s globalalumni and GemKids programs, as well as its guest services. She...
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Polished Markets
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Apr 21, 2019
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Rapaport News
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Cullinan Yields 210ct. Rough
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Petra Diamonds has unearthed a white diamond weighing 209.9carats at its Cullinan mine in South Africa. The D-color, type II, gem-quality stone is the fourth over100 carats the miner has recovered this year, and...
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Mining
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Apr 21, 2019
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Rapaport News
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Brexit Continues to Buoy Swiss Watch Exports
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Swiss watch exports rose 4.4% to CHF 1.74 billion ($1.72billion) in March as UK retailers continued to stockpile in preparation forBrexit. “The UK was a special case once again, because ofstockpiling in the run-up to Brexit,” the Federation of the Swiss...
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Retail
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Apr 21, 2019
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Rapaport News
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Jewelry Sales Solid for Kering in First Quarter
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Kering noted strong sales in its jewelry-and-watch divisionin the first quarter, amid growing Asian demand and a positive reception at the Salon International de la Haute Horlogerie (SIHH) fair in Geneva. “Jewelry delivered solid growth, thanks...
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Retail
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Apr 21, 2019
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Rapaport News
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Forevermark Appoints New CEO
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De Beers jewelry subsidiary Forevermark has promoted chiefoperating officer Nancy Liu to CEO, as Stephen Lussier steps back. She will take over the day-to-day running of the brand,allowing Lussier, who has been CEO since...
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Retail
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Apr 21, 2019
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Rapaport News
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Research
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Apr 18, 2019
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Rapaport
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India: Selective Shortages Emerging
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Polished market slow amid tight liquidity. Business activity disrupted by national elections. Parcels of 0.30 to 0.50 ct. diamonds selling better than certs. Manufacturers reducing polished production, leading to selective shortages. Steady US demand for...
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Research
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Apr 18, 2019
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Rapaport News
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Rapaport Weekly Market Comment
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Sentiment mixed, with slow trading before Easter andPassover. Selective buyers looking for 3X (X3) fine VS-SI diamonds. Steady USdemand for 1 to 1.50 ct. goods ahead of summer wedding season. Diamond cuttersreducing production and...
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Polished Markets
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Apr 18, 2019
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Rapaport News
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Gitanjali Edges Toward Liquidation
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Gitanjali Gems, whose chairman is a suspect in India’slargest bank fraud, is expected to go into liquidation, after its lendersrejected a recovery plan.Creditors voted by a 54% majority on March 28 not to extend Gitanjali’s “corporate-insolvency resolution process,” a six-month window during which...
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Financial-Legal
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Apr 18, 2019
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Rapaport News
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Webinar: The Way Forward in a Slow Market
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What’s the current state of the rough, polished and retail markets?Avi Krawitz, Rapaport’s Senior Analyst and News Editor, analyzes the key trendsin this hour-long webinar. Click here for more.
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Polished Markets
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Apr 18, 2019
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Avi Krawitz
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Alrosa Launches Zarya Diamond Mine
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Alrosa has started diamond production at a newdeposit in Yakutia with an expected mine life of 11 years, it said Wednesday. The Zarya pipe will help compensate for the diminishing resources at the miner’s Komsomolsky open-pit site, Alrosa...
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Rough Markets
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Apr 18, 2019
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Rapaport News
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