|
|
|
Surat Factories to Stay Shut Until July 14
|
|
Surat authorities have extended the shutdown of the Indian city’s diamond-manufacturing sector for another week after the number of coronavirus cases grew.While trading markets can reopen this Friday, cutting factories won’t be able...
|
|
|
Manufacturing
|
Jul 07, 2020
|
Rapaport News
|
|
|
|
|
|
India Extends Import Curbs as Surat Shuts Again
|
|
Indian trade bodies have recommended continued limits on rough-diamond imports in July, with a fresh weeklong shutdown of the Surat cutting sector adding to concerns about the market.The Gem & Jewellery Export Promotion Council (GJEPC)...
|
|
|
Polished Markets
|
Jul 01, 2020
|
Joshua Freedman
|
|
|
|
|
|
Virus Cases Shut Parts of Surat Cutting Units
|
|
Around eight diamond-cutting businesses in Surat have closed parts of their factories after a coronavirus outbreak.Authorities ordered the shutdowns after 20 to 23 workers tested positive for the virus, Colin Shah, chairman of the Gem & Jewellery...
|
|
|
Manufacturing
|
Jun 16, 2020
|
Rapaport News
|
|
|
|
|
|
HRD Shuts Equipment Unit in Reorganization
|
|
HRD Antwerp has closed its equipment division, effective June 9, as part of a restructuring of the Belgian grading laboratory.The organization will increase its focus on its grading and education services, CEO Ellen Joncheere said in a statement...
|
|
|
Technology
|
Jun 10, 2020
|
Rapaport News
|
|
|
|
|
|
Surat Diamond-Cutting Sector Reopens
|
|
The Indian government has allowed diamond businesses in Surat to reopen with limited staff numbers following concerns the shutdown was causing an exodus of workers.Companies can now employ 50% of workers in factories and 33% in offices,...
|
|
|
Manufacturing
|
May 21, 2020
|
Rapaport News
|
|
|
|
|
|
Eight Surat Cutting Units Return to Work
|
|
India has resumed manufacturing and exports of gems and jewelry, as the country starts to ease its restrictions following five weeks of lockdown.Eight production units in Surat, the country’s diamond-cutting hub, have begun operations at the...
|
|
|
Polished Markets
|
May 04, 2020
|
Rapaport News
|
|
|
|
|
|
De Beers Offers 100% Deferrals at May Sight
|
|
De Beers is allowing rough-diamond customers to skip all purchases at next week’s sight, as shutdowns of manufacturing and retail markets have led to minimal demand.The sight will be the second consecutive sale at which the miner has allowed...
|
|
|
Rough Markets
|
Apr 30, 2020
|
Joshua Freedman
|
|
|
|
|
|
India’s Cutting Sector Faces Decade-Low Revenues
|
|
India’s polishing revenues will plummet to their lowest in a decade this year, as prices have dropped and inventory has built up, a credit agency has warned.Diamond sales will decline up to 32%, to $13 billion to $15 billion,...
|
|
|
Polished Markets
|
Apr 28, 2020
|
Rapaport News
|
|
|
|
|
|
Surat Diamond Manufacturing Shuts Down
|
|
The entire polishing industry in Surat has shut until March 31 after Indian authorities introduced tight restrictions to slow the spread of the coronavirus.Activities stopped on Tuesday in line with a lockdown enforced by the Gujarat state government....
|
|
|
Polished Markets
|
Mar 24, 2020
|
Rapaport News
|
|
|
|
|
|
Botswana Mining Decline Hits GDP Growth
|
|
Botswana’s economic growth slowed last year due to lower rough production, further aggravated by weakness in its diamond-manufacturing sector, the nation’s central bank said last week.Gross domestic product (GDP) increased 3.7% in the 12 months...
|
|
|
Mining
|
Mar 04, 2020
|
Rapaport News
|
|
|
|
|
|
Pandora Vows to Be Carbon-Neutral by 2025
|
|
Pandora has committed to being carbon-neutral in its own operations by 2025 as part of a plan to reduce the environmental impact of the company and its suppliers.From this year, the jeweler will use 100% renewable energy at its...
|
|
|
Retail
|
Feb 02, 2020
|
Rapaport News
|
|
|
|
|
|
US Trade Continues to Downsize
|
|
The US jewelry industry contracted in 2019 as the number of businesses closing shop continued to exceed new entrants.The sector shrank 3.3% to 24,565 companies active in the fourth quarter, compared with 25,400 a year earlier, according to data...
|
|
|
Retail
|
Jan 20, 2020
|
Rapaport News
|
|
|
|
|
|
Profit Margins Improve at $425M De Beers Sale
|
|
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...
|
|
|
Rough Markets
|
Dec 18, 2019
|
Joshua Freedman
|
|
|
|
|
|
Pressure on Diamond Midstream Likely to Increase
|
|
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...
|
|
|
Polished Markets
|
Dec 12, 2019
|
Joshua Freedman
|
|
|
|
|
|
De Beers Lowers 2020 Production Forecast
|
|
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...
|
|
|
Mining
|
Dec 11, 2019
|
Rapaport News
|
|
|
|
|
|
Rough Slowdown Weighs on Asian Star
|
|
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...
|
|
|
Manufacturing
|
Nov 18, 2019
|
Joshua Freedman
|
|
|
|
|
|
Synova Launches Automated Cutter
|
|
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...
|
|
|
Manufacturing
|
Sep 26, 2019
|
Rapaport News
|
|
|
|
|
|
Manufacturer LDC Acquires Metal-Casting Company
|
|
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...
|
|
|
Manufacturing
|
Jul 10, 2019
|
Rapaport News
|
|
|
|
|
|
De Beers Cuts Prices as Rough Sales Slide
|
|
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...
|
|
|
Rough Markets
|
Jun 25, 2019
|
Avi Krawitz
|
|
|
|
|
|
Alrosa to Sell Directly to Consumers
|
|
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...
|
|
|
Retail
|
Jun 04, 2019
|
Rapaport News
|
|
|
