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June 08 2020

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Alrosa
Anna Hu Jewels Sell at Christie’s Charity Auction
Christie’s garnered $338,781 from an online charity auction of Anna Hu jewels that will help support the families of healthcare workers who lost their lives fighting Covid-19.The sale, which benefited Alrosa’s new social-responsibility initiative,...
Polished Markets Jul 15, 2020 Rapaport News
Sarah Kuijlaars.
De Beers Names Sarah Kuijlaars as CFO
Sarah Kuijlaars will take over as chief financial officer of De Beers on September 1, succeeding Nimesh Patel, the miner announced Wednesday. She will also join the company’s board and executive committee.Kuijlaars was previously CFO...
Mining Jul 15, 2020 Rapaport News
Angely Martinez
Plans Underway for BIPOC Trade Body
A New York-based designer plans to establish a trade organization to help jewelers from the black, indigenous and people of color (BIPOC) community progress in the industry.“We will begin with a focus on education through outreach to high-school students,”...
Retail Jul 15, 2020 Rapaport News
Chow Tai Fook
Weak Demand Sinks Chow Tai Fook Sales
Sales in Chow Tai Fook’s Hong Kong stores dropped sharply in the first fiscal quarter amid a decrease in tourism and weak consumer sentiment due to the coronavirus pandemic.Retail sales slid 69% in Hong Kong and...
Retail Jul 15, 2020 Rapaport News
Union Bank
Israel’s Union Bank Sells Diamond Portfolio
Israeli finance company Peninsula has agreed to buy Union Bank’s diamond business, pledging to continue offering loans amid a shortage of credit in the domestic industry.Peninsula will pay between 55% and 70% of the loan portfolio’s...
Financial-Legal Jul 14, 2020 Rapaport News
Phillips
Phillips Hong Kong Auction Garners $6M
A Colombian emerald and diamond ring was the top seller at Phillips in Hong Kong, leading the $6.1 million auction.The piece, which features a step-cut, 21.52-carat emerald flanked by two half-moon diamonds, fetched $1.2 million...
Polished Markets Jul 14, 2020 Rapaport News
Mountain Province
Lenders Grant Waiver to Mountain Province
Mountain Province has obtained a waiver for its revolving-loan agreement as it struggles with challenges in the diamond market amid the coronavirus pandemic.The Bank of Nova Scotia and Nedbank, which hold the loan, have agreed...
Mining Jul 14, 2020 Rapaport News
Anton Siluanov
Alrosa Reelects Finance Minister as Chairman
Alrosa’s supervisory board has reelected Russian Finance Minister Anton Siluanov as its chairman. He has held the position since 2015.Members of the board also reelected Aysen Nikolaev, head of the Republic of Yakutia, as first deputy...
Mining Jul 14, 2020 Rapaport News
Coronavirus
Coronavirus Updates: Impact on the Diamond Trade
The Covid-19 pandemic that has swept the globe has had a notable impact on the diamond industry, with new developments unfolding every day. Here, we present a one-stop, running news feed on industry events impacted...
Polished Markets Jul 14, 2020 Rapaport News
New York 47th Street.
US Import Slump Continues in May
US polished-diamond imports dropped heavily again in May, according to Commerce Department data, with Covid-19 shutting the global market and devastating demand. May is usually the strongest month for shipments as exhibitors send goods to the...
Polished Markets Jul 13, 2020 Rapaport News
Lucapa
Lucapa Revenue Plummets in Second Quarter
Sales of rough from Lucapa Diamond Company’s Lulo mine in Angola plunged in the second quarter, as both the average price and carats sold fell sharply due to the coronavirus pandemic.Revenue slid 80% year on year...
Mining Jul 13, 2020 Rapaport News
Sierra Leone artisanal miners.
GemFair to Launch Training Program in West Africa
GemFair, De Beers’ program for the artisanal sector, has partnered with two organizations on a training project to enhance mining practices in West Africa.It has signed a memorandum of understanding with Germany’s Deutsche Gesellschaft für Internationale Zusammenarbeit...
Mining Jul 13, 2020 Rapaport News
Shane Co
Hawaiians Buy the Biggest Diamonds – Shane Co.
Consumers in the state of Hawaii are purchasing engagement rings with an average diamond size of 1.20 carats, the largest in the US, according to Shane Co.The retailer and manufacturer, which claims to be the biggest privately owned...
Retail Jul 13, 2020 Rapaport News
Birks Group
Birks Sales Rise Pre-Pandemic
Birks Group’s sales increased sharply in the latest fiscal year as three of its major retail stores reopened following renovations.The Canadian jeweler resumed trading at flagship sites in Vancouver, Toronto and Montreal during the 12-month...
Retail Jul 12, 2020 Rapaport News
Polished diamonds.
India Extends Deadline for Duty-Free Reimports
The Indian government has granted diamond companies extra time to ship polished goods back to the country without incurring customs duty.At present, reimports are subject to the 7.5% levy once the diamonds have...
Polished Markets Jul 12, 2020 Rapaport News
Sotheby's
Pink and Blue Hearts Score Big for Sotheby’s
Two fancy-colored, heart-shaped diamonds led the Magnificent Jewels sale at Sotheby’s in Hong Kong, fetching a combined $18.7 million.The first, a 5.04-carat, fancy-vivid-blue, type IIb diamond, flanked by white diamonds, brought in $10.6 million, or $2.1 million...
Polished Markets Jul 12, 2020 Rapaport News
Christie's
12ct. Blue Diamond Smashes Estimate at Christie’s
A blue diamond ring was the top seller at Christie’s Hong Kong in the first live Magnificent Jewels auction since the Covid-19 pandemic began.The piece, featuring a marquise-cut, 12.11-carat, fancy-intense-blue, internally flawless stone, went...
Polished Markets Jul 12, 2020 Rapaport News
Nyurbinskaya
Alrosa Monthly Sales Plummet Again
Alrosa’s diamond sales fell 86% year on year to $31.3 million in June as contract customers continued to delay buying rough allocations.“For the third time in a row, we offered our long-term customers unprecedentedly flexible sales conditions, including...
Rough Markets Jul 12, 2020 Rapaport News
Rapaport TradeWire July 9, 2020
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Research Jul 09, 2020 Rapaport
Rapaport Logo
Rapaport Weekly Market Comment
Diamond trade uncertain amid spike in coronavirus infections and new restrictions in India and Israel. Prices firm for select goods as 1 ct. RAPI +1.9% in June. Investment demand for 0.50 to 1 ct., D, IF and bridal supporting...
Polished Markets Jul 09, 2020 Rapaport News
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