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JBT jewelry display 150
Jewelry Business Closure Rate Drops
The US jewelry trade continued to contract in the secondquarter, but the rate of downsizing has slowed from the previous year, datafrom the Jewelers Board of Trade (JBT) revealed. In the three months ending June 30,...
Retail Jul 21, 2019 Rapaport News
Mountain Province Yellow Diamond 150
Low Grades Dent Mountain Province Output
Production at Gahcho Kué dropped 10% year on yearto 1.7 million carats in the second quarter, as mining took place in a lower-grade portion of the deposit. “The grade variance year over year is mainly a function ofmining lower-grade-ore...
Mining Jul 21, 2019 Rapaport News
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Hong Kong Slowdown Hits Swiss Watches
Swiss watch exports fell 11% to CHF 1.74 billion ($1.77billion) in June, amid a continued downturn in Hong Kong tourism and protests in the municipality. “Hong Kong’s performance slowed significantly. Recent events there undoubtedly played...
Retail Jul 21, 2019 Rapaport News
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Lucara Names 1,758ct. Diamond ‘Rare Find’
Botswana’s largest rough diamond now has a name, following a public contest held by Lucara Diamond Corp. The company chose to call the 1,758-carat stone Sewelô, which means “rare find” in the local Setswana language....
Mining Jul 21, 2019 Rapaport News
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AWDC Cuts Research-Center Backing
The Antwerp World Diamond Centre (AWDC) will no longerfund the city’s diamond-research-technology center, asthe current market situation in the Belgian diamond industry worsens. “As a result of the high cost of labor in our country,almost the...
Polished Markets Jul 21, 2019 Rapaport News
Rapaport TradeWire July 18, 2019
Research Jul 18, 2019 Rapaport
Rapaport TradeWire July 18, 2019
Research Jul 18, 2019 Rapaport
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Rapaport Weekly Market Comment
Diamond market weak due tosummer slowdown and sluggish dealer demand. Manufacturers frustrated by tightprofit margins and hoping for rough price reduction at De Beers July sight. Cuttersmaintaining low polished production due to profit and...
Polished Markets Jul 18, 2019 Rapaport News
Bharat Diamond Bourse
India: Market Still Slow
Fewertransactions than this time last year, despite strong foreign-dealer presencein Mumbai. Buyers looking for bargains amid rumors of tight liquidity andfinancial distress. 0.30 ct. diamonds selling in parcels since prices ofcertified goods...
Research Jul 18, 2019 Rapaport News
Large Canadian rough diamond in palm of hand, GSS
Diamond Glut Prompts De Beers to Slash Production
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...
Mining Jul 18, 2019 Rapaport News
Alrosa Lomonosov deposit
Alrosa Falls Victim to Changing Retail Practices
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...
Mining Jul 18, 2019 Rapaport News
Cartier love bracelet 150
China Lifts Richemont Jewelry Revenue
Sales at Richemont’s jewelry brands increased 10% in the first fiscalquarter, as lower value-added tax and customs duties drove purchases in mainland China,the luxury retailer said Thursday. Proceeds from the group’s largest product category...
Retail Jul 18, 2019 Rapaport News
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Chow Tai Fook China Sales Rise
Sales in Chow Tai Fook’s mainland China storesgrew strongly in the first fiscal quarter, while purchases in Hong Kong andMacau slowed. Retail sales jumped 24% in mainland China in the threemonths ending June 30, with...
Retail Jul 18, 2019 Rapaport News
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Judge Calls Out Signet over Suit Dispute
A New York judge has refused to back down after ruling that Signet Jewelers’ comments about the sexual-harassment claims it was facing could be part of a class-action suit against the retailer.On July 10, Judge Colleen...
Retail Jul 17, 2019 Rapaport News
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WJA Awards over $65K to 49 Recipients
The Women’s Jewelry Association (WJA) has revealed thewinners of its 2019 Excellence Awards scholarships and grants. The group will award a total of $65,500 — raised through itsAwards for Excellence Gala, individual member donations...
Polished Markets Jul 17, 2019 Rapaport News
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Alrosa Partners with Zimbabwe Mining Company
Alrosa has agreed to a joint venture with nationalminer Zimbabwe Consolidated Diamond Company (ZCDC) for exploring new diamondprojects in the country. The deal, which provides Alrosa with a 70% stake in any newgreenfield deposits, encompasses...
Mining Jul 17, 2019 Rapaport News
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Lulo Revenue Up in Second Quarter
Sales of rough from Lucapa Diamond Company’s Lulo mine doubled to $10 million in the second quarter, reflecting higher volumes and an increase in the average price, the company said Monday.Sales volume surged 63% to 5,573...
Mining Jul 16, 2019 Rapaport News
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Gem Diamonds Unearths 140ct. Rough
Gem Diamonds has recovered a white diamond weighing 140carats, the second over 100 carats it has reported this year. It found the high-quality stone on July 6 at its Letšeng mine in Lesotho, the company said Monday.In...
Mining Jul 16, 2019 Rapaport News
Argyle mine 600
Rio Tinto Output Falls in 1H
Diamond production at Rio Tinto dropped 10% year on year inthe first half of 2019, as the miner recovered lower-grade ore at its Argylemine in Australia. The company’s share of production at the Argyle and Diavik mines came...
Mining Jul 16, 2019 Rapaport News
GIA color grading
GIA Cuts Prices 10% Amid Market Slowdown
The Gemological Institute of America (GIA) has temporarilyreduced grading fees for certain smaller diamonds after recording a drop in submissionsduring the recent industry slump. The organization is slashing prices of reports by 10% forpolished weighing from...
Polished Markets Jul 16, 2019 Joshua Freedman
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