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Michael Hill CEO
Michael Hill to Repay Workers up to $17M
Michael Hill will hand out between AUD 10 million ($7million) and AUD 25 million (just under $17.5 million) to compensate retail employeesin Australia, after discovering it had been underpaying them. The jeweler had been...
Retail Jul 11, 2019 Rapaport News
Rough diamonds
Global Diamond Production Value Rises
Global rough-diamond output grew 2% to $14.47 billion lastyear, reflecting higher production in Botswana, according to data the KimberleyProcess (KP) released last week.The average price increased 4% to $97 per carat, outweighinga 2% decline in production volume to 148.4...
Mining Jul 07, 2019 Rapaport News
Garry Holloway
New Tool Evaluates Perceived Diamond Size
When it comes to the size of a diamond, looks can be deceiving, admits Garry Holloway. Two stones with an identical carat weight might not look the same size due to light leaking out of the stone. “Most...
Technology Jul 04, 2019 Rapaport News
Benn Harvey-Walker
Interview: How to Excel at Ethics
Benn Harvey-Walker makes a living as co-founder and directorof business development of Ethical Jewellery Australia, but he’s made a namefor himself as a blogger who espouses the benefits of making the industry morethoughtful and less harmful to all...
Retail Jun 03, 2019 Jennifer Heebner
Michael Hill
Michael Hill Sees Improved Holiday Results
Michael Hill’s sales rose during the holiday period, buoyed bya shift in the company’s marketing strategy, it said Tuesday. The jeweler’s same-store sales — at branches open for at least a year— increased 1.3% year on year...
Retail Jan 15, 2019 Rapaport News
Michael Hill 150
Michael Hill to Close All US Stores
Michael Hill will close all its US stores by April 30 andpull out of the American market entirely, the company said. In January, the retailer announced it was looking for abuyer for the nine stores it operates...
Retail Apr 15, 2018 Rapaport News
Rio Tinto Argyle mine
Rio Tinto Slashes Argyle Outlook
Rio Tinto has lowered its estimate of diamonds it can viably extract from the Argyle mine, after experiencing operationaldifficulties and reducing its price forecast. The asset’s ore reserves slumped 45% to 16 million tonnes...
Mining Mar 05, 2018 Rapaport News
Rio Tinto Diamond Sales Rise 150
Resurgent Rough Market Boosts Rio Tinto Revenue
Rio Tinto’s diamond revenue rose 15% to $706 million in 2017,as global rough demand increased and Indian manufacturers replenished stockfollowing demonetization. Profit in the diamond unit almost doubled over the previous year, climbing...
Mining Feb 07, 2018 Rapaport News
Michael Hill 150
Michael Hill to Exit US Market
Michael Hill will close its US operations after a run of disappointing sales results in the “challenging” and “loss-making” market, the Australia-based jeweler said Wednesday. “Our time in the highly competitive US jewelry market taughtus a lot...
Retail Jan 25, 2018 Rapaport News
KP Names 2018 Chair 150
Hilde Hardeman Is New KP Chair
Hilde Hardeman will be the chair of the Kimberley Process for2018, the European Commission (EC) has confirmed.Hardeman is head of the EC’s Service for Foreign PolicyInstruments (FPI), which manages aspects of the European Union’s diplomacy....
Mining Jan 21, 2018 Rapaport News
Pandora
Europe and Asia Drive Pandora Growth
Pandora Group’s sales jumped in the third quarter as stronggrowth in Europe and Asia outweighed weakness in the US.Revenue increased 13% to $809 million (DKK 5.19 billion) inthe three months ending September 30, the Denmark-based...
Retail Nov 08, 2017 Rapaport News
Michael Hill store
Michael Hill Sees Rise, but US Operation Lags
Michael Hill’s revenue grew 8% in the third quarter, driven by improved performance in Australia, New Zealand and Canada, the jeweler reported.Group sales rose to $99.7 million (AUD 130.3 million) in the three months that ended...
Retail Oct 31, 2017 Rapaport News
Kimberley Red Argyle
Red Argyle Diamond to Appear at Taiwan Show
A rare, fancy red diamond from the Argyle mine in Australiawill go on display at the Taiwan Jewellery & Gem Fair later this week.Taiwan-based Jurassic Inc. will showcase the 1-carat Kimberley Red diamond at the exhibition,...
Polished Markets Oct 30, 2017 Rapaport News
Argyle violet diamond ring
Jeweler Displays $100M of Colored Diamonds
Australian jeweler Linneys is showcasing $100 millionworth of jewelry featuring rare colored diamonds from the Argyle mine.The highlight of the collection is a ring containing theArgyle Violet, a 2.83-carat fancy deep grayishbluish violet diamond that Rio...
Polished Markets Oct 16, 2017 Rapaport News
Merlin 13ct rough diamond
Merlin Upbeat After 13ct. Diamond Sale
Merlin Diamonds has a sold a white rough diamond from itsmine in Australia for $157,880, or $11,898 per carat, it said Monday.The 13.27-carat stone is of “very high” quality and has Dcolor, Merlin said in a statement, claiming that,...
Mining Oct 02, 2017 Rapaport News
Michael Hill store
Michael Hill’s US Sales Fall
Michael Hill’s US sales dropped in the past fiscal year asthe Australia-based jeweler struggled in the key market.Revenue from American operations slid 12% to $12.5 million,while same-store sales fell 8.5%, the retailer reported Monday....
Retail Aug 22, 2017 Rapaport News
Rio Tinto cognac champagne Argyle necklace
Rio Tinto Showcases Cognac-Champagne Necklace
Rio Tinto unveiled a necklace featuring more than 45 caratsof cascading champagne and cognac diamonds and a 3.55-carat white diamond fromits iconic Argyle mine in Australia.The Origins of Argyle necklace, which the miner isshowcasing in New...
Polished Markets Jul 31, 2017 Rapaport News
Rio tinto Argyle tender 2017 pink diamonds
Record Red Diamond Leads Argyle Tender
Rio Tinto unveiled the largest red diamond in the history ofits Argyle tender at a preview in New York, the company said Thursday.The radiant-cut, 2.11-carat, fancy-red, VS2-clarity polisheddiamond is the centerpiece of this year’s sale. Dubbed...
Polished Markets Jul 27, 2017 Rapaport News
Argyle mine rio Tinto
Rain at Argyle Dampens Rio Tinto’s Diamond Offering
Rio Tinto’s rough-diamond output declined 2% to 4.3 millioncarats in the second quarter as wet weather restricted production levels at theArgyle mine.Output from the mine in Western Australia fell 8% to 3.2million carats compared to the corresponding period last...
Mining Jul 19, 2017 Rapaport News
Australian Trilogy Rio Tinto
Argyle Diamond Coins Sell Within a Month
Rio Tinto sold a set of diamond coins to an Asian buyer for $1.4million (AUD 1.8 million) within a month of the collection’s unveiling, theminer announced Thursday.The anonymous collector snapped up the Australian Trilogy,which features three coins,...
Polished Markets Jul 06, 2017 Rapaport News
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