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Coronavirus Updates: Impact on the Diamond Trade
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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...
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Polished Markets
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Jul 13, 2020
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Rapaport News
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Diamond Price Index Firms Amid Slow Trade
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RAPAPORT PRESS RELEASE, July 7, 2020, Las Vegas… The global diamond market was uncertain in June due to the resurgence of Covid-19 and geopolitical tensions. Polished prices firmed for select goods. The RapNet Diamond...
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Polished Markets
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Jul 07, 2020
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Rapaport
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Chow Tai Fook Expanding China Store Count
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Pandemic or not, Chow Tai Fook has no intention of slowing its expansion into China, with plans to open approximately 450 stores on the mainland during the current fiscal year, managing director Kent Wong told...
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Retail
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Jun 29, 2020
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Avi Krawitz
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Eira Thomas Confident Lucara Can Navigate Crisis
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The diamond mining sector has been hard hit by the coronavirus crisis. There has been a significant drop in demand — when rough sales could even take place — forcing miners to reconsider their production programs...
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Mining
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Jun 22, 2020
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Avi Krawitz
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Where Do We Go from Here?
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The coronavirus pandemic has impacted every part of the diamond supply chain. As markets reopen with the virus still lingering, there is a consensus that a new normal has been established, even as it continues to evolve. The...
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Polished Markets
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Jun 21, 2020
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Avi Krawitz
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Industry Mourns Passing of Arunkumar Mehta
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Arunkumar R. Mehta, a prominent leader of India’s diamond industry, passed away on June 14, 2020. He was 80 years old.Shri Mehta worked in the diamond trade for more than 60 years and is counted among the founding fathers...
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Polished Markets
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Jun 15, 2020
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Rapaport News
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Diamond Markets Return Cautiously
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RAPAPORT PRESS RELEASE, June 2, 2020, Las Vegas… Diamond trading is starting to regain traction in Hong Kong with some demand from China. Hong Kong is mostly open for business, but concerns are mounting about...
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Polished Markets
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Jun 02, 2020
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Rapaport
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Podcast: Time for Subtle, Discreet Brand Marketing
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As difficult as the Covid-19 lockdown period has been, Sally Morrison, director of public relations at De Beers’ consumer and brands division, sees opportunity for the diamond industry moving forward. In the first episode of the Rapaport...
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Marketing
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Jun 01, 2020
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Rapaport News
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A Time to Heal
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The Covid-19 crisis is presenting an opportunity for the market to restart, refresh, and build on its experience of dealing with the diamond-trade slowdown of the past few years. In these unprecedented times, it would be foolish to make predictions...
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Polished Markets
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May 27, 2020
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Avi Krawitz
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Staying Relevant in the Coronavirus Era
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During lockdown, there comes a time when one simply doesn’t want to be told anymore that we’re in this together — “even though we may be apart.”While plunging further down that YouTube rabbit hole, as we all often have...
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Marketing
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May 14, 2020
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Avi Krawitz
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Is the Diamond Trade Prepared for Change?
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As diamond markets start to return, the Rapaport News team discusses prospects for the industry in the latest episode of the Rapaport Diamond Podcast. We discuss the extent to which things have fundamentally changed in the past...
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Polished Markets
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May 14, 2020
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Rapaport News
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Lightbox Delays New Production Plant to 2021
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Lightbox, De Beers’ lab-grown diamond jewelry brand, has delayed commissioning its new facility in Portland, Oregon, by a few months due to the COVID-19 pandemic.“The building itself and plant infrastructure [are] already complete, and we are...
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Manufacturing
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May 07, 2020
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Avi Krawitz
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Diamond Markets Reflect Uncertain Outlook
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RAPAPORT PRESS RELEASE, May 5, 2020, Las Vegas… Diamond trading was restricted in April due to the coronavirus pandemic and global lockdowns. Sentiment was weak, with dealers frustrated by the inability to resume business. The...
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Polished Markets
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May 05, 2020
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Rapaport
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Dominion Asks for More Time to Repay Debts
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Dominion Diamond Mines has requested an extension to the insolvency protection it was awarded last week, stating that it needs more time to restructure its finances or find new investment.The miner asked the Alberta Court of the...
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Mining
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Apr 28, 2020
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Rapaport News
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Rough Market Faces Its Toughest Year Yet
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As the diamond market considers its options during the industry-wide lockdown, manufacturers in India are planning a freeze on rough imports. The move has precedent. Back in 2008, as financial markets collapsed, India imposed a one-month moratorium...
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Rough Markets
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Apr 28, 2020
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Avi Krawitz
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Podcast: How the Pandemic Is Changing De Beers
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The diamond industry will need to tweak its messaging to emphasize the values its product and brands represent, De Beers executives stressed in the Rapaport Diamond Podcast. Rapaport Senior Analyst Avi Krawitz spoke with...
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Marketing
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Apr 27, 2020
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Rapaport News
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An Opportunity to Strengthen Connections
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A rough diamond changes hands at least five times before it reaches the cutting wheel, an industry veteran explained to my amazement when I first started writing about the market. A polished stone is traded even more often before...
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Polished Markets
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Apr 07, 2020
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Avi Krawitz
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Diamond Prices Slide in March as COVID-19 Spreads
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RAPAPORT PRESS RELEASE, April 7, 2020, Las Vegas…Diamond prices fell in March as the spreading coronavirus led to a dramatic decline in the global economy. Diamond markets are under pressure and facing a severe liquidity crisis as jewelry...
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Polished Markets
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Apr 07, 2020
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Rapaport
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WFDB to Fund Get Diamonds Trading Platform
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The World Federation of Diamond Bourses (WFDB) has adopted Get Diamonds as its official trading platform, the organization’s president Ernie Blom told Rapaport News. The WFDB’s executive committee agreed in a Zoom meeting on Sunday...
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Polished Markets
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Apr 06, 2020
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Avi Krawitz
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Sarine Ushers In Era of In-Factory Grading
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Sarine Technologies has launched a new platform enabling manufacturers to tap its automated grading systems and issue a report in-house to support the needs of jewelers.The company this week introduced its eGrading innovation via a video...
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Technology
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Mar 12, 2020
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Avi Krawitz
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