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Profit Margins Improve at $425M De Beers Sale
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De Beers’ rough sales totaled $425 million in December,the highest since April, as lower price levels and better profit marginsspurred an upturn in demand from sightholders. Buyers are returning to the market after six months ofsluggish...
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Rough Markets
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Dec 18, 2019
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Joshua Freedman
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Pressure on Diamond Midstream Likely to Increase
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Diamond manufacturers will consolidate in the coming years to avoid being further squeezed by miners and retailers, Bain & Company predicted in its annual report on the industry.The forecast stems from the midstream becoming anincreasingly...
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Polished Markets
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Dec 12, 2019
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Joshua Freedman
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De Beers Lowers 2020 Production Forecast
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De Beers has reduced its production outlook for next year and beyond amid uncertainty about the health of the diamondmarket.The miner now expects to recover between 32 million and 34million carats in 2020, compared to its...
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Mining
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Dec 11, 2019
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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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Manufacturer LDC Acquires Metal-Casting Company
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LDC, a jewelry manufacturer based in East Providence, RhodeIsland, has acquired precious-metals caster First Casting Company. First Casting was founded by Jerry Traficante and his wife,Susan, in 1980, with the couple continuing to run the...
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Manufacturing
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Jul 10, 2019
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Rapaport News
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De Beers Cuts Prices as Rough Sales Slide
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De Beers’ rough-diamond sales slumped to a 20-month low of $390 million in June amid weak sentiment in the manufacturing sector. Sightholders noted the price cuts De Beers implemented on certain categories were not enough to stimulate demand. “The...
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Rough Markets
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Jun 25, 2019
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Avi Krawitz
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Alrosa to Sell Directly to Consumers
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Alrosa is launching a source-of-origin program that will enable dealers and consumers to buy polished diamonds with detailed provenance information.The Russian miner will create an “electronic passport” for each diamond on a new website, diamonds.alrosa.ru, presenting...
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Retail
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Jun 04, 2019
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Rapaport News
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De Beers Sales Jump 10% in April
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De Beers recorded its largest rough-diamond sale sincemid-2018 as demand was steady following a slow first quarter. Sales rose 10% year on year to $575 million in the thirdsales cycle of the year, including last week’s sight...
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Rough Markets
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Apr 10, 2019
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Rapaport News
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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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Dubai’s NBF Enters Antwerp Lending Market
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The National Bank of Fujairah (NBF) has launched arepresentative office in Antwerp as it looks to expand its business lending toestablished diamond traders. The Dubai-based bank targets wholesalers with secure sourcesof income and solid product...
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Financial-Legal
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Apr 07, 2019
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Joshua Freedman
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Rapaport Trade Mission to Surat, India
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The RapaportGroup is pleased to announce our trade mission to Surat, India. This mission willprovide an opportunity for members of the diamond-and-jewelry trade to gainfirst-hand knowledge of the diamond supply chain. Surat ishome to an estimated 500,000 diamond cutters,...
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Mining
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Feb 14, 2019
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Rapaport
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De Beers Sales Slump Amid Market Weakness
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De Beers’ rough-diamond sales slowed in January as adisappointing holiday season piled further pressure on the midstream. Proceeds fell to $505 million at the first sales cycle ofthe year, 25% lower than the $672 million it sold...
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Rough Markets
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Jan 29, 2019
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Joshua Freedman
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Eurostar Enters Administration as Debts Mount
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Eurostar Diamond Traders has entered restructuringproceedings in Belgium, having amassed substantial debts, according to the company’scourt-appointed administrator.The Antwerp-based diamond manufacturer owes morethan $500 million to creditors across its global operations, Alain Van den...
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Financial-Legal
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Dec 25, 2018
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Joshua Freedman
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De Beers Sales Slip to $440M
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De Beers recorded its lowest-value sales cycle this year asweak Indian demand prompted it to drop prices of cheaper goods. Proceeds fell to $440 million in November as the miner reducedprices by high-single-digit percentages for rough diamonds costing...
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Rough Markets
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Nov 20, 2018
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Rapaport News
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De Beers Cuts Prices of Cheaper Rough
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De Beers significantly reduced prices of lower-quality rough diamonds at this week’s sight in response to a slowdown in the Indian manufacturingsector, dealers reported. Prices fell by high-single-digit percentages versus theprevious sale, sightholders told Rapaport News Tuesday. The...
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Rough Markets
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Nov 13, 2018
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Joshua Freedman
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Rapaport Magazine: US Manufacturing
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The future of US manufacturing is the focus of RapaportMagazine’s November cover feature, with interviewees from across theindustry lending their views on the matter. US companies are increasingly sending work to overseasmanufacturers for cost reasons. Reversing that...
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Manufacturing
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Nov 08, 2018
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Rapaport News
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American-Made Jewelry Gaining Favor, Says MVI
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American consumers are turning to US-manufactured jewelry asmore women in the country create their own products, the CEO of luxuryconsultancy MVI Marketing told Rapaport News. While it is too early to say what impact the US-China...
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Retail
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Aug 22, 2018
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Rapaport News
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Israel to Polish Large Diamonds from China
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Chinese diamond companies will send large stones forpolishing at a new manufacturing facility in Israel, the Middle East nation’sindustry body said. Bourses in the two countries reached the agreement thisweek during a visit to Israel by Lin...
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Manufacturing
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Jun 28, 2018
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Rapaport News
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Hari Krishna Partners with Blockchain Firm
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Hari Krishna (HK) Group will receive technological backingfrom blockchain company Everledger for its diamond-provenance program. Everledger will cryptographically certify HK stones destinedfor the Indian manufacturer’s “My Diamond Story” brand, letting consumers...
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Technology
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May 31, 2018
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Rapaport News
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