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India Urges ‘Self-Discipline’ from Rough Buyers
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Indian industry leaders have renewed their calls for limits on rough imports during the Covid-19 crisis, noting that diamond demand remains uncertain.The Gem & Jewellery Export Promotion Council (GJEPC) and four...
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Rough Markets
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Aug 02, 2020
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Rapaport News
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India Extends Import Curbs as Surat Shuts Again
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Indian trade bodies have recommended continued limits on rough-diamond imports in July, with a fresh weeklong shutdown of the Surat cutting sector adding to concerns about the market.The Gem & Jewellery Export Promotion Council (GJEPC)...
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Polished Markets
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Jul 01, 2020
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Joshua Freedman
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Virus Cases Shut Parts of Surat Cutting Units
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Around eight diamond-cutting businesses in Surat have closed parts of their factories after a coronavirus outbreak.Authorities ordered the shutdowns after 20 to 23 workers tested positive for the virus, Colin Shah, chairman of the Gem & Jewellery...
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Manufacturing
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Jun 16, 2020
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Rapaport News
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Surat Diamond-Cutting Sector Reopens
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The Indian government has allowed diamond businesses in Surat to reopen with limited staff numbers following concerns the shutdown was causing an exodus of workers.Companies can now employ 50% of workers in factories and 33% in offices,...
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Manufacturing
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May 21, 2020
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Rapaport News
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India’s Cutting Sector Faces Decade-Low Revenues
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India’s polishing revenues will plummet to their lowest in a decade this year, as prices have dropped and inventory has built up, a credit agency has warned.Diamond sales will decline up to 32%, to $13 billion to $15 billion,...
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Polished Markets
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Apr 28, 2020
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Rapaport News
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Surat Diamond Manufacturing Shuts Down
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The entire polishing industry in Surat has shut until March 31 after Indian authorities introduced tight restrictions to slow the spread of the coronavirus.Activities stopped on Tuesday in line with a lockdown enforced by the Gujarat state government....
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Polished Markets
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Mar 24, 2020
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Rapaport News
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Rough Slowdown Weighs on Asian Star
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Sales and profit slumped at Indian diamond manufacturerAsian Star in the second fiscal quarter as weak rough demand prompted it to reduceits trading activities. The Mumbai-based company supplements its core cuttingbusiness by reselling rough through its...
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Manufacturing
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Nov 18, 2019
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Joshua Freedman
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Synova Launches Automated Cutter
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A technology provider part-owned by De Beers has unveiled anautomated cutting machine that, it claims, will significantly speed up diamondmanufacturing and reduce costs. Synova’s DaVinci system is the market’s first automated instrument that can produce all...
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Manufacturing
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Sep 26, 2019
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Rapaport News
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De Beers, Botswana Prep for New Sales Deal
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Botswana once again finds itself at a crossroads. The sparsely populated,landlocked country is in a constant battle to ensure the longevity of itsdiamond industry.Recognizing that diamond mining will not last forever, thegovernment’s beneficiation program has sought to establish...
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Mining
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Jul 09, 2018
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Avi Krawitz
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Tiffany to Close Antwerp Polishing Facility
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Tiffany & Co.’s manufacturing unit, Laurelton Diamonds,plans to shut its polishing center in Antwerp, shifting the operations to its otherworkshops in Botswana, Cambodia, Mauritius and Vietnam. Laurelton will continue to carry out rough sourcing,sorting, marking...
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Manufacturing
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Mar 15, 2018
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Joshua Freedman
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Diamond Midstream Improving Efficiency, Says Bain
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Tough market conditions are forcing diamond traders andmanufacturers to adjust their business models amid sluggish consumer demand, accordingto a report by management consultancy Bain & Company. While miners’ sales of rough diamonds to the midstreamleapt...
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Manufacturing
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Dec 13, 2017
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Rapaport News
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Alrosa Moving to Annual Rough Allocations
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Alrosa will start assessing its clients’rough-diamond needs annually rather than every three years, beginning in its next contract period — a move that will give the Russianminer more opportunity to match supply with demand.At...
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Mining
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Nov 06, 2017
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Rapaport News
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Dubai Factory to Cut 813ct. Constellation
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Dubai’s first diamond-manufacturing facility, which officially opened Tuesday, has been tasked with cutting and polishing the world’s most valuable rough diamond. Almas Diamond Services set up the factory with an investment of $1.8...
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Manufacturing
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Oct 19, 2017
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Avi Krawitz
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Almod Diamonds to Open Canada Cutting Factory
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New York-based Almod Diamonds will expand production of its patented 'Crown of Light' cut by opening a new cutting andpolishing facility in Canada’s Northwest Territories next year.Almod, an affiliate of retailer Diamonds International, saidit will set up a factory...
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Manufacturing
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Dec 21, 2016
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Rapaport News
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Lesedi La Rona Poised For 1H Sale
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Lucara Diamond Corp. plans to sell the 1,109-carat Lesedi LaRona in the first half of next year, after the rough diamond failed to find a buyer at a Sotheby’s auction in June.The stone, which is the second largest rough...
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Mining
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Dec 18, 2016
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Rapaport News
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Kiran Gems Expands With New Surat Factory
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Kiran Gems openeda new factory in Surat in response to the company’s growth and increaseddemand.The 200,000 square-foot facility has capacity for 10,000diamond cutters. It offers advanced planning and cutting technology for allkinds of rough diamonds,...
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Manufacturing
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Aug 07, 2016
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Rapaport News
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Shrenuj's Revenue and Profit Slump in 4Q
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Shrenuj & Co., a Mumbai-based diamond and jewelry manufacturer, reported that sales slumped 47 percent year on year to $156 million (INR 9.97 billion) during its fiscal fourth quarter that ended March 31. Group...
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Polished Markets
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May 29, 2015
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Ronen Shnidman
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Manufacturing
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Mar 25, 2015
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IDE
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Research
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Feb 11, 2015
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Zainab Morbiwala
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Diamond Cutters Approaching Era of Disruption
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Diamond manufacturers are entering an era of fierce competition as the looming decline in rough diamond supply is expected to place additional pressure on their already razor-thin profit margins. “A manufacturer always operates with a benchmark margin, which is the...
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Manufacturing
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Dec 14, 2014
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Ronen Shnidman
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