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News analysis Aug 2020
To Speak Out, or Not to Speak Out?
The killing of George Floyd at the hands of police in May and the subsequent protests split US society in a way that few other events have. While companies in all sectors have increasingly engaged in corporate activism in recent...
Retail Aug 11, 2020 Joshua Freedman
Forevermark diamond ring
Diamonds High on Holiday Gift Lists
Consumers are showing strong interest in buying diamonds for their loved ones this holiday season, seeing a need to give something special following an uncertain year, according to a survey by De Beers.In the US, almost 60% of men...
Retail Aug 11, 2020 Rapaport News
Coronavirus
Covid-19 Updates: Impact on the Diamond Trade
d-19 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...
Polished Markets Aug 11, 2020 Rapaport News
Mountain Province Gahcho Kue 150
Mountain Province in the Red as Demand Slows
Mountain Province reported a loss in the second quarter as the coronavirus pandemic closed markets and hit demand.The miner posted a net loss of CAD 26.8 million ($21.8 million) for the three months ending June...
Mining Aug 09, 2020 Rapaport News
Mining Ekati 150
Mining Sell-Off Highlights Sector’s Woes
Just as the sun emerged from behind the clouds and diamond demand began to recover from a glut in the manufacturing sector, the coronavirus pandemic hit. Its rapid spread forced many miners to shut down...
Mining Aug 06, 2020 Leah Meirovich
De Beers Rough
Reduced Diamond Supply Lifts Polished Prices
RAPAPORT PRESS RELEASE, August 4, 2020, Las Vegas… Polished diamond prices firmed in July due to supply shortages for select categories. Sentiment remained weak and trading levels low amid new Covid-19 restrictions.The RapNet...
Polished Markets Aug 04, 2020 Rapaport
De Beers Office in Botswana
De Beers Turns to Tech as Layoffs Loom
De Beers is no stranger to changing strategy. Throughout its 130-plus-year history, the company has often adjusted its approach, sometimes with just a few tweaks, and on other occasions with radical consequences for the diamond market....
Rough Markets Aug 03, 2020 Avi Krawitz
Rough diamonds
India Urges ‘Self-Discipline’ from Rough Buyers
Indian industry leaders have renewed their calls for limits on rough imports during the Covid-19 crisis, noting that diamond demand remains uncertain.The Gem & Jewellery Export Promotion Council (GJEPC) and four...
Rough Markets Aug 02, 2020 Rapaport News
De Beers Sight Box
Challenges Persist as De Beers Sees Red
De Beers suffered heavy losses in the first half of the year due to Covid-19, and cautioned that substantial challenges would remain for the diamond market.The diamond miner fell into the red for the...
Rough Markets Jul 30, 2020 Rapaport News
Sightholder.
Nine Sightholders Aim for Carbon Neutrality
Nine De Beers sightholders have committed to becoming carbon-neutral, aiming to align the manufacturing sector with environmental standards present elsewhere in the diamond industry.The participants will begin by assessing their current emissions, and will then...
Manufacturing Jul 29, 2020 Rapaport News
De Beers rough and polished diamonds.
De Beers to Hold Viewings in Antwerp and Dubai
De Beers will allow clients to view goods in Antwerp and Dubai at next week’s sight, with both the company and its Russian rival Alrosa maintaining their policies of enabling 100% deferrals.The two largest miners...
Rough Markets Jul 23, 2020 Joshua Freedman
Mountain Province
Mountain Province Projects 3Q Improvement
Mountain Province anticipates the market for rough diamonds will start to improve toward the end of the third quarter when retailers prepare for holiday sales.“While prices in the post Covid-19 period remain under...
Polished Markets Jul 20, 2020 Rapaport News
De Beers Gemist
De Beers Invests in Online Jewelry Brand
De Beers has invested in jewelry company Gemist, which enables customers to create customized jewelry online and try it at home prior to purchasing.Shoppers can choose from a variety of stones, metal and settings to create a piece, then use...
Retail Jul 19, 2020 Rapaport News
De Beers.
Covid-19 Ravages De Beers Sales
De Beers’ sales and production nosedived in the second quarter as the coronavirus crushed diamond demand throughout the pipeline and forced shutdowns at several mines.“Demand for rough diamonds was significantly impacted by a combination of Covid-19 restrictions...
Mining Jul 16, 2020 Rapaport News
Sarah Kuijlaars.
De Beers Names Sarah Kuijlaars as CFO
Sarah Kuijlaars will take over as chief financial officer of De Beers on September 1, succeeding Nimesh Patel, the miner announced Wednesday. She will also join the company’s board and executive committee.Kuijlaars was previously CFO...
Mining Jul 15, 2020 Rapaport News
Mountain Province
Lenders Grant Waiver to Mountain Province
Mountain Province has obtained a waiver for its revolving-loan agreement as it struggles with challenges in the diamond market amid the coronavirus pandemic.The Bank of Nova Scotia and Nedbank, which hold the loan, have agreed...
Mining Jul 14, 2020 Rapaport News
Sierra Leone artisanal miners.
GemFair to Launch Training Program in West Africa
GemFair, De Beers’ program for the artisanal sector, has partnered with two organizations on a training project to enhance mining practices in West Africa.It has signed a memorandum of understanding with Germany’s Deutsche Gesellschaft für Internationale Zusammenarbeit...
Mining Jul 13, 2020 Rapaport News
Rough diamonds Alrosa.
Alrosa Delays July Sale to Later in Month
Alrosa has pushed its July contract sale to the end of the month in response to requests from clients who had expressed interest in making purchases, the Russian miner said Thursday.The trading session, previously scheduled...
Rough Markets Jul 09, 2020 Rapaport News
Diamonds Do Good
Industry Leaders to Offer Insights in Virtual Session
Diamonds Do Good will host a virtual gathering in which key leaders from the diamond and retail sectors will offer insights and perspectives on the future of the natural-diamond industry.“The world has undergone a seismic change...
Polished Markets Jul 08, 2020 Rapaport News
De Beers
Survey: Shoppers Prefer to Buy Jewelry In-Store
US consumers still favor purchasing diamond jewelry in a brick-and-mortar shop, but want store owners to provide proper safety measures against the coronavirus, according to a De Beers survey.“While consumers increasingly desire a diamond-acquisition journey that blends the...
Retail Jul 07, 2020 Rapaport News
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