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Rough diamonds
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 machine
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
Jewelry manufacturing
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 Sorting
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 colored diamond polished
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
Debswana Jwaneng
De Beers Sales Jump 10% in April
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...
Rough Markets Apr 10, 2019 Rapaport News
De Beers sight box
De Beers Reduces Sightholder Supply
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...
Rough Markets Apr 08, 2019 Joshua Freedman
National Bank of Fujairah Antwerp launch April 201
Dubai’s NBF Enters Antwerp Lending Market
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...
Financial-Legal Apr 07, 2019 Joshua Freedman
Surat cutting
Rapaport Trade Mission to Surat, India
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,...
Mining Feb 14, 2019 Rapaport
De Beers for the NewsBrief
De Beers Sales Slump Amid Market Weakness
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...
Rough Markets Jan 29, 2019 Joshua Freedman
Eurostar
Eurostar Enters Administration as Debts Mount
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...
Financial-Legal Dec 25, 2018 Joshua Freedman
De Beers
De Beers Sales Slip to $440M
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...
Rough Markets Nov 20, 2018 Rapaport News
De Beers
De Beers Cuts Prices of Cheaper Rough
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...
Rough Markets Nov 13, 2018 Joshua Freedman
Made in the USA
Rapaport Magazine: US Manufacturing
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...
Manufacturing Nov 08, 2018 Rapaport News
Us jewelry
American-Made Jewelry Gaining Favor, Says MVI
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...
Retail Aug 22, 2018 Rapaport News
Israel China 150
Israel to Polish Large Diamonds from China
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...
Manufacturing Jun 28, 2018 Rapaport News
Hare Krishna 150
Hari Krishna Partners with Blockchain Firm
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...
Technology May 31, 2018 Rapaport News
Kristall polishing factory
Alrosa Mulls Buying Manufacturer Kristall
Alrosa is considering acquiring Kristall Smolensk Diamonds,Russia’s largest manufacturer of polished goods.The miner’s supervisory board deemed the potential deal“expedient” after examining it on April 28, it told Rapaport News Sunday.“Alrosa…sees that such an acquisition, under certainconditions,...
Manufacturing May 06, 2018 Rapaport News
De Beers 150
De Beers Raises Prices at $520M Sale
De Beers’ April sight closed with a value of $520 millionamid concerns among manufacturers that higher rough prices could affect profitmargins.De Beers raised prices by 1% to 2% from the previous salefor larger size categories, sightholders told...
Rough Markets Apr 17, 2018 Joshua Freedman
Israel Diamond Week Opens 150
Traders Optimistic at Israel Diamond Week
Sentiment was strong at International Diamond Week in Israelas traders displayed optimism about the market and noted shortages were supporting prices.Visitors observed increased traffic and exhibitor numbersfrom last year, with dealers from...
Polished Markets Feb 08, 2018 Joshua Freedman
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