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Collector Nabs 102ct. Diamond for $16M ‘Bargain’
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A private collector bought a 102-carat, D-flawless diamond for $15.7 million at a special online auction by Sotheby’s Hong Kong on Monday. While the stone was the first high-profile diamond to be offered without a reserve price, observers had...
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Polished Markets
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Oct 06, 2020
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Rapaport News
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Sotheby’s Nixes Reserve Price on 102ct. Diamond
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Sotheby’s will offer a D-flawless diamond over 100 carats in Hong Kong next month, taking the unusual step of selling the stone without setting a reserve price.The oval-shaped, 102.39-carat, type IIa stone is one of only...
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Polished Markets
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Sep 10, 2020
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Rapaport News
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De Beers Identifies New Kimberlite Indicator
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The discovery of a new source-rock indicator for diamondformation has the potential to help geologists locate and identify valuablediamond deposits around the world, a study by the University of Alberta and DeBeers shows. “The outcome of the...
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Mining
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Jun 27, 2019
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Leah Meirovich
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De Beers Reduces Sightholder Supply
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De Beers sightholders are bracing for lower rough supplyfor the rest of 2019 as the miner reduces its production and fulfills itscommitments to support local manufacturing in Africa.The company expects production to drop as its Victor minein...
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Rough Markets
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Apr 08, 2019
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Joshua Freedman
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De Beers’ Victor Mine Shuts Its Doors
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De Beers has sent out the final ore-haul truck from itsVictor mine in Canada, exactly 11 years to the day after the site’s opening. The last load was driven by Nancy Wesley, who has worked...
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Mining
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Mar 27, 2019
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Rapaport News
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De Beers to Shut Victor Mine in 2019
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De Beers will cease production at the Victor mine in Canadain the first quarter of 2019, the company said Wednesday. The asset in Ontario, where production started in July 2008,will continue to operate at full capacity until the...
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Mining
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Nov 02, 2017
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Rapaport News
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Birks Shows Canada Pride with Renard Line
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Canadian jewelry retailer Birks Group has partnered withrough producer Stornoway Diamond Corporation to sell stones from the new Renardmine in Quebec.Birks launched a showcase of the first 200 diamonds from themine at its Montreal flagship...
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Retail
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May 14, 2017
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Rapaport News
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Victor Mine Eliminates Oil Waste With Kidney Looping
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De Beers Canada's Victor diamond mine completed its first year of cleansing equipment oil through the kidney looping process to reduce waste and costs as part of the company's sustainability goals. The operations team cleanses...
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Mining
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Jan 20, 2014
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Jeff Miller
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Crossworks Secures Capital for Expansion
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First West Capital will fund a multi-million dollar expansion deal for Canada-based diamond manufacturer Crossworks Manufacturing. The funding will be used to expand Crossworks' cutting, polishing and manufacturing operations in order to accommodate growth from...
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Rough Markets
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May 03, 2012
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Deena Taylor
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Mining
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Jul 01, 2010
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Rapaport
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Charm Diamond Centres to Offer Ontario Diamonds
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Charm Diamond Centres in Nova Scotia received the right to carry diamonds mined, cut and polished in Ontario, Canada. The company's diamonds are mined at the De Beers Victor mine and then cut and polished by Crossworks Manufacturing in Sudbury. The finished stones will be sold at select Charm...
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Retail
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Jun 29, 2010
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Jeff Miller
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Diamond News Broadcast
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Zale's revenue dropped by single digits for third fiscal quarter and it continued to operate at a loss. U.S. chain-store sales this past week certainly turned softer than they've been, and year to year comparisons will be getting tighter from this point forward. The Conference Board found...
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Manufacturing
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May 26, 2010
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Rapaport News
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Research
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May 06, 2010
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Rapaport
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De Beers Canada Spends $292M With Local Suppliers
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De Beers Canada reported that it spent $292 million on goods and services for the Snap Lake and Victor mines in 2009. The company spent $152 million on operations contracts at Snap Lake, 74 percent of which was supplied by northern businesses and 51 percent of which was provided by aboriginal suppliers....
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Mining
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May 03, 2010
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Avi Krawitz
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Mining
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Apr 29, 2010
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Rapaport
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Crossworks Schedules Polished Tender in Toronto
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Crossworks Manufacturing Ltd. plans to hold its first polished diamond tender for stones that originated from the De Beers Canada Victor mine in Ontario. The tender, which runs May 3-5, 2010, is by invitation only and the event will be held at the Diamond Bourse of Canada in Toronto....
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Polished Markets
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Apr 23, 2010
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Jeff Miller
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Mining
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Apr 22, 2010
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Rapaport
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Diamond News Broadcast
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View the major U.S. retail sales predictions for Christmas season side-by-side in this broadcast. Remember though, even in a down economy, news is not all bad. Consumers are expected to spend more than $440 billion, which is a healthy amount under any circumstance. Crossworks Manufacturing opened a new diamond...
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Mining
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Oct 14, 2009
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Rapaport News
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De Beers May Need More Loans
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De Beers May Need More LoansChristopher LaFemina, an analyst at Barclays Capital, wrote a note concerning the drag that De Beers may exert on parent company Anglo American. He stated that Barclays is concerned that more shareholder loans may be necessary to keep De Beers afloat, adding that Barclays believes diamond...
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Mining
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May 01, 2009
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Rapaport
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Rapaport TradeWire - Friday, April 10, 2009
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Rapaport TradeWire - Friday, April 10, 2009News: DTC March sight estimated at $200 mil. with pickup in demand and prices for rough diamonds. De Beers cuts DRC exploration and significantly reduces London staff. ALROSA to sell $500 mil. in rough to 15 Antwerp firms in '09. S&P suspends credit...
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Mining
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Apr 10, 2009
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Rapaport
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