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GIA Exposes Rough Diamond with Fake Green Color
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Manufacturers coated a rough diamond with a green substanceto imitate a natural color, the Gemological Institute of America (GIA) saidafter the stone turned up for grading.The presence of chromium oxide powder on the surface ofthe 6.49-carat crystal...
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Rough Markets
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Aug 19, 2019
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Rapaport News
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De Beers Lets Clients Reject 50% of Goods
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De Beers will allow sightholders to refuse more rough diamonds than usual at thisweek’s sight, aiming to ease pressure on the market without reducing prices. Clients will be free to turn down 50% of available goods amid a slump...
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Rough Markets
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Aug 18, 2019
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Joshua Freedman
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Who’s Buying the Rough in 2019?
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The stability of the diamond industry is largely in thehands of 122 manufacturers and dealers that buy rough on a contractual basis. Many of the sector’s current problems have resulted from too much rough entering the market...
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Rough Markets
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Aug 11, 2019
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Joshua Freedman
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India’s Polished Exports Hit Three-Year Low
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India’s polished-diamond exports slid 13% in the first six monthsof the year, reaching their lowest level since a market slump in the secondhalf of 2015. The drop reflected a slowdown in the trading and manufacturingsectors, resulting...
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Polished Markets
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Aug 04, 2019
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Rapaport News
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Alrosa Nets Fish-Shaped Diamond
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Alrosa’s knack for recovering unusually shaped diamonds hasscaled new heights with the discovery of a rough stone resembling a fish.“In the photo, you see a very rare specimen: a rough-diamondcrystal which pretends to be a fish,” the Russian...
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Mining
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Aug 01, 2019
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Rapaport News
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De Beers Sales Sink to Lowest Level Since 2015
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De Beers’ rough-diamond sales plummeted 53% this month ascustomers accepted the miner’s offer to defer purchases until the marketimproves.Weak polished demand and excess supply in the manufacturingand trading sectors have hurt sightholders’ appetite...
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Mining
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Jul 30, 2019
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Joshua Freedman
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De Beers Profit Falls Amid Market Slump
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De Beers’ profit dropped in the first half of the year asweak demand at the trade and consumer levels impacted diamond prices, thecompany said Thursday. The rough market was subdued due to high inventories inboth...
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Mining
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Jul 25, 2019
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Rapaport News
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Diamond Glut Prompts De Beers to Slash Production
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De Beers has lowered its production forecast for this year,noting that weakness in the diamond trade negatively affected itsperformance in the second quarter.Sales volume slumped 10% to 9 million carats in the threemonths ending June 30 due...
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Mining
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Jul 18, 2019
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Rapaport News
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Alrosa Falls Victim to Changing Retail Practices
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Retailers’ attempts to maintain low diamond inventories are hurtingdemand across the trade, Alrosa warned after reporting its lowest quarterlysales since 2015. The Russian miner’s sales slumped 26% to $807 million in thesecond quarter...
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Mining
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Jul 18, 2019
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Rapaport News
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India Differentiates Synthetics Imports
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India has introduced an import classification code solely for lab-grown rough diamonds, enabling the industry to keep better watch of syntheticsentering the country.The government has separated the Indian Trade Clarification(ITC) code for rough...
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Financial-Legal
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Jul 14, 2019
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Joshua Freedman
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Stornoway Prices Continue to Fall
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Rough prices slumped for Stornoway Diamond Corporation inthe second quarter, as market weakness dented demand for the miner’s range ofgoods. The average price of the company’s sales slid 18% to $76 percarat in the...
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Mining
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Jul 11, 2019
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Rapaport News
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Alrosa Sales Fall Amid Diamond Oversupply
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Alrosa’s sales continued to slump in June, closing off afirst half that saw a heavy drop in demand for its rough. The Russian miner’s total sales slid 43% to $222.4million for the month, it reported Wednesday....
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Mining
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Jul 10, 2019
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Rapaport News
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Rough Trading Slowed in 2018
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Global rough-diamond shipments dropped last year,reflecting slower trading in India and Belgium, according to new data from theKimberley Process (KP). Total rough imports slipped 3% to $48.49 billion for 2018,with volume down 7% to 424.2 million...
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Rough Markets
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Jul 09, 2019
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Rapaport News
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Rough Prices Set for Slump – Analyst
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Rough-diamond prices are likely to fall 5% this year asweakness in the industry continues, Panmure Gordon analyst Kieron Hodgson haspredicted. The investment bank has lowered its expectations for themarket, having previously forecast price...
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Rough Markets
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Jul 08, 2019
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Rapaport News
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Global Diamond Production Value Rises
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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...
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Mining
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Jul 07, 2019
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Rapaport News
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Trans Hex Cautious About Future Operations
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Trans Hexhas issued a warning about its capacity to continue as a going concern, stating there was“material uncertainty” around its ability to fund its short-term liquidityrequirements. The notificationcomes amid continued operating losses for the business....
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Mining
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Jul 02, 2019
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Rapaport News
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US Polished Imports Rise in 1Q
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Shipments of polished diamonds to the US grew 4% to $5.51billion in the first quarter, as a stronger March canceled out a negative startto the year. Imports rose 13% to $2.23 billion for the month, compared with a1% rise in January...
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Polished Markets
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Jun 06, 2019
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Rapaport News
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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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India Cracks Down on Rough Shipments
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India’s diamond trade is in a fight with authorities overstricter customs enforcement for rough that could have a “disastrous” impact on theindustry.Companies have recently been suspected of giving incorrect values for imports or exports of rough diamonds, a senior...
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Financial-Legal
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May 26, 2019
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Joshua Freedman
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Belgium Rough Trade Slows in 1Q
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Belgium saw a decline in its imports and exports of rough diamondsin the first quarter, as mining companies’ sales dropped.Shipments into thecountry slid 33% to $2.09 billion for the period, reflecting a 38% slump inrough sales...
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Rough Markets
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Apr 28, 2019
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Rapaport News
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