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Surat
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
Melee at De Beers Industry Group Services Surat
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
Rough diamond in Kimberlite
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
Melee diamonds at De Beers Group Industry Services
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
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
Jwaneng
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 store
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
jewelry tariffs
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
Orapa
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
Rough and polished diamonds
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
Jwaneng
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 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
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