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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
A jeweler holding a diamond ring. (Shutterstock)
Could Covid-19 Reshape the Memo Market?
The Covid-19 shutdown and its consequences have caused many diamond wholesalers and jewelry retailers to reevaluate even the most basic business practices. Is there a new normal for memos as well? Memos, both short-...
Polished Markets Jul 06, 2020 Joyce Kauf
DMCC
DMCC Opens Doors to Lab-Grown Business
Synthetic-diamond firm Lumex will set up shop in the Dubai Multi Commodities Centre (DMCC), as the trading hub looks to expand its lab-grown sector. “In line with its mandate to attract, facilitate and drive new...
Rough Markets Jul 06, 2020 Rapaport News
The Diamond Office in Antwerp
Belgium’s Diamond Shipments Drop Further
Belgium’s diamond trade slowed in June, with polished exports down 44% year on year to $469 million, according to data from the Antwerp World Diamond Centre (AWDC). However, the rate of decline eased following heavier...
Polished Markets Jul 05, 2020 Rapaport News
KP rough
Global Rough Production Slides in 2019
Global rough-diamond production fell 7% to $13.48 billion last year, reflecting lower output in Botswana and Canada, according to new data from the Kimberley Process (KP). Production volume slipped 12% to 130.3 million carats, while...
Rough Markets Jul 05, 2020 Rapaport News
Coronavirus
Coronavirus Updates: Impact on the Diamond Trade
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 impacted...
Polished Markets Jul 05, 2020 Rapaport News
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Rapaport Weekly Market Comment
Polished trading slow despite improved retail sales in China. US jewelers limiting purchases, as they have enough inventory to meet 3Q demand. Trade sees potential for good holiday season since consumers are not spending on travel....
Polished Markets Jul 02, 2020 Rapaport News
Christie's
29ct. Diamond Sets Online Record at Christie’s
Christie’s brought in more than $4 million at its latest digital sale, with a 29-carat diamond earning the highest online price ever for a jewel.The emerald-cut, 28.86-carat, D-color, VVS1-clarity, type IIa diamond ring garnered $2.1...
Polished Markets Jul 01, 2020 Rapaport News
HK Retail 150
Hong Kong Retail Sales Fall Sharply in May
Sales of jewelry and other luxury items in Hong Kong plunged in May, even as the market showed signs of recovery amid an easing of the city’s coronavirus crisis.Revenue from jewelry, watches, clocks and other valuable gifts...
Retail Jun 30, 2020 Rapaport News
Alrosa International Mine 150
Alrosa Mine Restarts Following Virus Closure
Alrosa has resumed operations at its International underground mine following a brief suspension after several employees tested positive for Covid-19.Management at the Russian miner’s Mirny mining and processing division, which oversees the site,...
Mining Jun 30, 2020 Rapaport News
DMCC 150
Dubai, China Establish Diamond Partnership
The Dubai Multi Commodities Centre (DMCC) has signed an agreement with China’s Guangzhou Diamond Exchange (GZDE) that will create new trading opportunities for both parties.“This agreement will further advance the strong...
Rough Markets Jun 30, 2020 Rapaport News
IGI clarity tester 150
IGI Opens Doors at New York Grading Lab
The International Gemological Institute (IGI) is reopening its New York grading laboratory following a three-month closure amid the coronavirus pandemic.“As the metropolitan area has been cleared to enter phase 2, the institute is safely restarting...
Polished Markets Jun 30, 2020 Rapaport News
Alrosa rough diamonds
Buyers Snub De Beers and Alrosa over High Prices
De Beers and Alrosa continued to see rock-bottom sales in June as buyers rejected the miners’ high rough prices in favor of cheaper goods from smaller suppliers.“[The major miners] want to hold on to prices, so people don’t see any...
Rough Markets Jun 29, 2020 Joshua Freedman
Luk Fook 150
Pandemic Pinches Luk Fook Revenue
Luk Fook’s revenue and profit fell in fiscal 2020 as the coronavirus and social unrest in Hong Kong hampered sales.Overall revenue for the Hong Kong-based jewelry retailer dropped 29% to HKD 11.23 billion ($1.45...
Retail Jun 29, 2020 Rapaport News
Sarine Lucara 150
Sarine to Provide ‘Birth Certificate’ for Lucara Rough
Sarine Technologies has expanded its collaboration with Lucara Diamond Corp. to include provenance traceability for all diamonds listed on the miner’s rough-sales platform.Clara, which enables customers to obtain individual rough diamonds with the...
Technology Jun 28, 2020 Rapaport News
Nissim Zuaretz
ISDMA Elects Nissim Zuaretz as President
The Israel Diamond Manufacturers Association (ISDMA) has elected Nissim Zuaretz, founder of D.N. Diamonds, as its president.He will serve a three-year term, succeeding Kobi Korn, who had held the position since 2014, Zuaretz...
Manufacturing Jun 28, 2020 Rapaport News
Petra Cullinan 150
Petra Seeks Buyer for Its Business
Petra Diamonds plans to sell the company as it struggles with mounting debt.The company owns the Cullinan, Finsch and Koffiefontein mines in South Africa. It also operates the Williamson deposit in Tanzania, which is currently on care and...
Mining Jun 28, 2020 Rapaport News
Patrick Sevigny 150
Stornoway Shakes Up Top Management
Patrick Sévigny will take over management of Stornoway Diamonds following the exit of CEO Patrick Godin amid the company’s efforts to streamline its executive team.Sévigny will lead the company as chief operating officer, Stornoway...
Mining Jun 28, 2020 Rapaport News
GIA Scholarships
GIA to Unlock New York Lab
The Gemological Institute of America (GIA) is reopening its New York grading laboratory Monday following a three-month shutdown due to the coronavirus.“As restrictions are lifted and the global gem and jewelry industry begins to recover,...
Polished Markets Jun 25, 2020 Rapaport News
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Rapaport Weekly Market Comment
Market uncertainty continues as Covid-19 cases rise again. Polished trading limited, but increase in online searches indicates efforts to fill specific orders. Major jewelers investing in e-commerce to stimulate multichannel sales and ease inventory requirements....
Polished Markets Jun 25, 2020 Rapaport News
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