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February 12 2020

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Webinar: Understanding the Impact of COVID-19
The recent declines in diamond trading and pricing follow a rise in supply and a severe drop in demand, Rapaport Senior Analyst Avi Krawitz explained in a webinar last week. The presentation, titled “Understanding the Impact of the...
Polished Markets Apr 05, 2020 Rapaport News
Rough diamonds
Kimberley Process Plans to Digitize Its Certificates
The Kimberley Process (KP) is trialing the use of digital certificates for rough-diamond shipments, claiming the method will increase efficiency and reduce fraud.Russia, which is chairing the global certification scheme this year, will...
Financial-Legal Apr 05, 2020 Joshua Freedman
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 Apr 05, 2020 Rapaport News
Alrosa COVID-19 Donation
Alrosa CEO Trades Stock to Aid COVID-19 Relief
Alrosa CEO Sergey Ivanov has sold a portion of his stake in the company to help fight the COVID-19 pandemic.Ivanov offloaded half of his shares in the Russian mining company for RUB 18.5 million ($241,670), Alrosa...
Mining Apr 05, 2020 Rapaport News
TSL
Hong Kong’s TSL Expects Full-Year Loss
Tse Sui Luen (TSL) has warned it will report a loss for the fiscal year, with sales hampered by a sluggish retail environment in greater China.The Hong Kong-based jeweler expects a loss of at least HKD 80 million ($10.3...
Retail Apr 05, 2020 Rapaport News
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Rapaport Weekly Market Comment
Diamond markets under continued pressure and facing severe liquidity crisis as jewelry retail, manufacturing, trading and mining companies shut operations during COVID-19 lockdown. Trading limited to online deals, with opportunistic buyers pushing...
Polished Markets Apr 02, 2020 Rapaport News
Rapaport TradeWire April 2, 2020
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Research Apr 02, 2020 Rapaport
Rapaport TradeWire April 2, 2020
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Research Apr 02, 2020 Rapaport
Martin Rapaport
Webinar: The Rapaport Price List
Martin Rapaport, chairman of the Rapaport Group, explained how the Rapaport Price List works during a webinar this week. He clarified its role as a list of high asking prices, and gave an overview of the data and...
Polished Markets Apr 02, 2020 Rapaport
Nimesh Patel
De Beers CFO to Leave Company
De Beers chief financial officer Nimesh Patel will exit the company on July 26 to become CFO and executive director at UK-based Spirax-Sarco Engineering.Patel joined De Beers parent company Anglo American in 2012 as group head of corporate finance....
Mining Apr 02, 2020 Rapaport News
Alrosa rough diamonds
Alrosa Allows Clients to Defer All Purchases
Alrosa is allowing full flexibility at next week’s monthly rough-diamond sale, enabling long-term clients to delay purchases until later in the year due to the current weak market.“The spread of coronavirus and counter-pandemic measures implemented around...
Rough Markets Apr 02, 2020 Joshua Freedman
Lucapa
Lucapa Reduces Lulo Operations
Lucapa Diamond Company has whittled down activities at its Lulo mine in Angola to essential operations amid a government lockdown on the country.The shutdown, currently in force until April 11, excludes the mining industry, though authorities...
Mining Apr 02, 2020 Rpapapot News
Karowe
Lucara May Struggle to Hold Botswana Sales
The coronavirus outbreak has threatened Lucara Diamond Corp.’s ability to hold tenders in Botswana, and had a heavy negative effect on rough prices, the company said Tuesday.The Botswana government has given Lucara permission to hold...
Rough Markets Apr 01, 2020 Rapaport News
Gem Diamonds
Gem Diamonds Flexible Tender Fetches $12M
Gem Diamonds garnered $12.1 million from the sale of rough diamonds through its new flexible tender process.“The results of the initial round of the flexible tender sales process for a selection of Letšeng’s large diamonds...
Mining Apr 01, 2020 Rapaport News
Couture
More Las Vegas Trade Fairs Canceled
Emerald Expositions has canceled its Couture and Antique Jewelry & Watch shows amid restrictions due to the COVID-19 pandemic.The organizer scrapped the two events due to a government shutdown of unnecessary business operations, a moratorium...
Polished Markets Apr 01, 2020 Rapaport News
Signet furloughs
Signet Temporarily Lays Off Workers
Signet Jewelers has furloughed a number of its employees to cut costs and ensure the long-term sustainability of its business.“Due to the unprecedented impact of COVID-19 and the closure of our stores, we have moved quickly to proactively reduce...
Retail Apr 01, 2020 Rapaport News
Gemfields
Gemfields Halts Mining and Sales
Gemfields has closed the majority of its business amid the coronavirus pandemic, and is unsure when it will hold its next tender.“The turmoil stemming from COVID-19 [will have] a significant impact on [our] operations, revenues...
Mining Mar 31, 2020 Rapaport News
Diamcor
Diamcor Pauses Operations, Cancels Tenders
Diamcor Mining has shut its South African mine amid the government-imposed 21-day lockdown to stem the spread of COVID-19.The company has put the Krone-Endora at Venetia deposit on care and maintenance until April 16,...
Mining Mar 31, 2020 Rapaport News
Hong Kong retail coronavirus
Hong Kong Retail Sales Plummet 79% in February
Sales of jewelry and other hard-luxury items in Hong Kong slumped to an all-time low in February due to the coronavirus, according to government data.Revenues from jewelry, watches, clocks and other valuable gifts dropped 79% year on year...
Retail Mar 31, 2020 Rapaport News
Signet
Signet Settles Shareholder Suit for $240M
Signet Jewelers has agreed to a $240 million settlement relating to a lawsuit filed by shareholders. The suit claims the company misled investors regarding allegations of sexual discrimination against its executives and the health of its credit...
Retail Mar 31, 2020 Rapaport News
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