Diamond Growers Form a Group of Their Own
The purpose of the new International Grown Diamond Association is to represent the lab-grown diamond industry and promote the stones as a “new choice,” organizers said.
Diamond Production, Sales Down for De Beers
Diamond production fell by double-digit percentages in both the fourth quarter and full year for De Beers, as the company has scaled back operations due to muted demand worldwide.
Major Organizations Offering IDEX Access
Free access to the IDEX Trading Floor as well as to the monthly IDEX diamond price reports are now available to the members of a number of key jewelry industry organizations.
Lazare Kaplan faces SEC action
The Securities and Exchange Commission said it is now “necessary and appropriate” to institute a public administrative proceeding against Lazare Kaplan that could result in the revocation of the company’s registration.
Diamond Trading Centre Opens in India
The opening of the center marks a major milestone in Indian Prime Minister Narendra Modi’s campaign to promote India as a major global diamond trading hub.
Alrosa Uncovers 105-Carat Diamond
The 105.6-carat stone, extracted from processing plant No. 14 at the Jubilee kimberlite pipe, is octahedral and transparent, with a moderate yellowish hue.
IDE Elects New President
Yoram Dvash of Dvash Diamonds was elected president of the Israel Diamond Exchange, succeeding incumbent President Shmuel Schnitzer, who served one two-year term.
De Beers Shuts Down Mine in Canada
De Beers has ceased operations at its Snap Lake mine and will take the next year to determine if mining there is worthwhile given the drop in demand for diamonds.
Two More Big Diamonds Discovered
The large diamond finds continue, with mining company Petra Diamonds recovering a 23.16-carat pink and Lucara coming up big again with an 813-carat white diamond.
“Seize the Day” diamond ad campaign launches
De Beers and its diamond brand Forevermark have launched their
call-to-action advertising campaign that is designed to increase
consumer demand for diamonds across the board this holiday season.
To figure out the kids, the DPA turns to Mother
The Diamond Producers Association announced this week that it will be working with advertising agency Mother New York to figure out how to make diamonds appealing to the younger generation.
Diamond dealer Lou Blank dies at 81
Lou Blank, a longtime diamond wholesaler at his family’s business, Joseph Blank Inc., died this month at his suburban New York City home.
Anglo American shuffles management team
De Beers parent company announced a number of management
changes this week that are designed to aid in the company’s marketing and
turnaround strategy, changes that bring a De Beers executive into a top position.
De Beers cuts Q3 production by 27 percent
The diamond miner and marketer said the reduction is a reflection of “current trading conditions,” while competitor Alrosa also noted that diamond sales continue to be sluggish.
GJEPC elects new chair, vice chair
Praveenshankar Pandya now is chairperson of India’s Gem & Jewellery Export Promotion Council, while Rosy Blue’s Russell Mehta was elected GJEPC vice chairperson.
Lucapa unearths 90-carat rough in Angola
The diamond miner just announced a number of exceptional finds from its Lulo mine, including this big rock and eight other diamonds weighing more than 10 carats each.
65 red and pink diamonds, on a world tour
Rio Tinto once again has four fancy reds in its annual tender of special stones from the Argyle in Western Australia, the mine that produces the vast majority of the world’s pink and red diamonds.
Petra Diamonds full-year revenue down 10 percent
Despite a 2 percent increase in production, Petra Diamonds’ revenue decreased 10 percent to $425 million as a weaker diamond market and dependence on diluted mining areas affected performance.
DMIA re-elects Vanderlinden as president
The Diamond Manufacturers & Importers Association of America re-elected Ronnie VanderLinden president and elected a new executive board and board of directors at its general meeting.
De Beers Q2 production drops
The volume of rough diamonds mined by De Beers fell 6 percent in the second quarter due in part to the company cutting back in response to “softer” trading conditions.
Rio Tinto continues telling its Story
Rio Tinto’s Diamonds with a Story campaign recently welcomed four new designers and launched a website created specifically for retailers, designers and manufacturers.
Indian traders stop short of banning rough imports
India’s top diamond exporters said no to temporarily stemming the flow of rough into the country but have outlined a number of other measures the trade there will take to deal with oversupply and lagging demand worldwide.
8-carat diamond found in Arkansas park
The Crater of Diamonds State Park in Murfreesboro has yielded another impressive piece of rough: an 8.52-carat stone that is among the largest diamonds ever found there.
CanadaMark looks to make its mark in the US
After resurrecting the hallmark program last year, Dominion Diamond Corp. launched a consumer marketing campaign to support the stones and, now, an online trading platform.
Diamond producers pool their resources
The world’s largest diamond mining companies have formed an association to buoy demand for mined diamonds, but won’t be doing generic marketing on the scale that De Beers once did.
Company grows 10-carat colorless diamond
The International Gemological Institute Hong Kong has certified what it believes is currently the world’s largest colorless synthetic diamond--a 10.02-carat square emerald-cut stone grown by New Diamond Technology.
De Beers wants to sell its oldest mine
The diamond miner and marketer is looking for a buyer for the Kimberley Mines in South Africa, a site where diamonds have been dug up since the 1870s.
Brad Campbell named VP of sales at Sarine
Campbell, who has worked with Morgan Jewelers and the Leading Jewelers Guild, has more than 35 years of executive-level experience in the diamond jewelry industry.
Fire Polish to open factory in New York
The diamond company plans to open the facility in the Big Apple by year’s end and has signed a licensing agreement with Cal Tech University for “nano prisms.”
White Pine opens Mumbai office
White Pine Trading is increasing its emphasis on its Indian operations with the opening of a new location in Mumbai, marking its fourth internationally.
Upcoming GIA exhibit ‘Dreams’ of diamonds
The Gemological Institute of America will host an exhibit showcasing 25 exceptionally rare diamonds and pieces of diamond jewelry at its Carlsbad headquarters in the coming weeks, coinciding with the debut of a book on these unique pieces.
Gem Diamonds revenue up 27 percent in 2014
After a year that saw mostly strong prices for both rough and polished diamonds at tender for the miner, Gem Diamonds’ revenue for the fiscal full year ended Dec. 31 hit $270.9 million.
Petra Diamonds revenue up 16 percent
Despite production dropping 2 percent, the mining company saw a substantial increase in revenue in the first half of fiscal year 2015.
GJEPC honors India’s best in Mumbai
The Gem & Jewellery Export Promotion Council held its annual India Gem & Jewellery Awards in late January, recognizing Indian jewelry companies for excellence.
SRK honors Dalai Lama with award
The Dalai Lama was honored with the Santokbaa Award by Shree Ramkrishna Exports Pvt. Ltd. during a recent visit to Surat, India.
Marketing, financing top conference topics
Next week, key diamond industry leaders, and reportedly even Russian President Vladimir Putin, are slated to attend a conference in India that will address challenges facing the industry today.
IDI reviving diamond pop-up shop for Cyber Monday
The Israel Diamond Institute announced Monday that it will launch a direct-to-consumer, pop-up sales platform for loose diamonds and diamond jewelry on Dec. 1, the day known as Cyber Monday because of the high volume of online shopping.
De Beers is ‘changing with the times’
De Beers executives gave Anglo American PLC investors an overview of the diamond business Monday, highlighting financial transparency, supply-demand dynamics and its belief in brands.
Hari Krishna rewards employees with cars, homes
Cash bonuses, jewelry, trips--these are examples of rewards retail employees could see when a store meets its sales goals. And these might have been more than enough to satisfy, until they get word about the rewards one company recently heaped on its workers.
Supplier sends 10 carats sky high
To celebrate its new “Diamonds” collection, London’s Bonds of Union flew an exceptional stone over Holland Park in west London.
Antwerp diamond fair dates set for 2015
The next Antwerp Diamond Trade Fair is scheduled for Feb. 1 to 3, with the trading floors of the city's diamond bourses converted into exhibition spaces for the event.
Gov’t releases report on combating child labor
Cote D’Ivoire, Colombia and Brazil are among the nations that have made significant progress to combat child labor in mines over the past year, a report from the U.S. Department of Labor states.
Israel exchange again stressing mined diamonds
Next month, members of the Israel Diamond Exchange will return to New York for another week-long trading event, bringing back with them their “Natural Is Real” campaign emphasizing the Israeli diamond industry’s commitment to mined, not lab-grown, stones.
NY Diamond Week slated for mid-November
The third edition of Israel Diamond Week in New York has been scheduled to take place in mid-November to allow attendees to renew business between suppliers and clients.
Lesotho mine yields 23-carat pink diamond
Storm Mountain Diamonds unearthed a 23.82-carat pink diamond from its Kao mine in the Kingdom of Lesotho, and said it will put the stone up for sale this month.
New technology grades symmetry of diamonds
Challenged to provide a solution for Tiffany & Co., Sarine Technologies has developed a system that grades round and fancy-shaped polished diamonds to determine the stones’ symmetry and proportions, technology that will be available to other companies in the industry.
Diamond co. honored with business award
The Stevie Awards has recognized Hari Krishna Exports Pvt. Ltd. in two categories of its 2014 International Business Awards: “Company of the Year--Manufacturing” and “Fastest Growing Company of the Year (Asia, Australia, and New Zealand).”
Leibish debuts $4M ‘Purple Orchid’ diamond
Leibish & Co. has polished and will now present its “Purple Orchid” diamond, a 3.37-carat fancy intense pinkish-purple, VS2-clarity diamond, in Hong Kong later this month.
GSI distributing joy to children, box by box
Gemological Science International has delivered its first shipment of school supplies and children’s clothes to underprivileged children in India, the result of a recently launched campaign called “Joy Box.”
Lab-grown diamond co. under SEC scrutiny
Recent SEC filings by diamond grower Scio show that the company is in default on a loan and may come under investigation by the Securities and Exchange Commission.
De Beers launches secondhand diamond program in US
For the next six months, De Beers will evaluate and buy secondhand diamonds from a select group of retailers in the United States, giving it a foothold in the sizable market for “recycled” diamonds and the chance to evaluate the diamond reselling experience from the consumers’ perspective.
Rio Tinto’s tender has record number of reds
Rio Tinto has unveiled the 55 diamonds that will be featured in its annual Argyle tender, including 51 pink and purplish-red diamonds and a record four fancy red diamonds.
Want to see Petra’s 122-carat blue? Now’s the time
Beginning Monday in Johannesburg, Petra Diamonds Ltd. will display one of the year’s most spectacular diamond finds, a 122.52-carat blue diamond unearthed at the Cullinan mine in South Africa.
De Beers expanding rough customer base
Beginning in March 2015, companies that are not De Beers sightholders will have the opportunity to compete for the rough diamonds that weren’t offered to, or refused by, sightholders, and will be known as “accredited buyers.”
198-carat rough diamond surfaces in Lesotho
Gem Diamonds Ltd. made its largest gem-quality rough diamond find to date this year when it pulled a 198-carat piece of rough from its Letšeng mine in the Kingdom of Lesotho last month, the latest in a line of 100-carat-plus stones found this year.
De Beers expects 4-5 percent rise in diamond demand
Sales and production increased in the first half of the year for De Beers and the company expects global demand for diamond jewelry to increase 4 to 5 percent this year, driven by the United States and China.
SRK founder recognized for lifetime achievements
Govind Dholakia, founder and chairman of Shree Ramkrishna Exports, has won the 2014 lifetime achievement award presented by Retail Jeweller India for his contributions to the diamond industry over the last 50 years.
De Beers Q2 production up 7 percent
Production for diamond miner De Beers increased both year-over-year and quarter-over-quarter in the period ended June 30, parent company Anglo American reported.
Lab-grown diamond co. Scio brings back last CEO
Scio has reappointed Gerald McGuire as CEO, and the diamond grower said it expects to at least break even within the next nine months, with an eye on the market for gem-quality lab-grown diamonds.
Forevermark expands into UK and Ireland
De Beers will begin selling Forevermark in the United Kingdom and Ireland this fall through an exclusive licensee partnership with sightholder Crossworks Manufacturing Ltd., which also launched the brand in Canada and Australia.
De Beers melee screeners go to Tasaki, Rosy Blue
Sightholders Tasaki and Rosy Blue, along with Kiran Gems in Mumbai, are among the first to begin using the new Automated Melee Screening device created by De Beers Technologies UK to separate natural melee from lab-grown.
Dominion Diamond claims bigger stake in Ekati
Dominion Diamond Corp. plans to purchase C. Fipke Holdings Ltd.’s interests in Ekati’s core and buffer zones, meaning it now will own 90 percent of the diamond mine’s core zone.
De Beers deploys first wave of melee screeners
De Beers has manufactured a total of 100 automated melee screening devices and begun distributing them to sightholders around the globe, the diamond miner and marketer confirmed Monday.
WFDB adds Canada, Korea as members
The World Federation of Diamond Bourses added the Diamond Bourse of Canada and the Korea Diamond Bourse to its membership at the 36th World Diamond Congress in Antwerp.
Operations commence at Alrosa’s Udachny mine
Russian diamond mining company Alrosa has begun operations at its Udachny mine, and said it expects it to become one of the largest underground diamond mines in Russia and worldwide, eventually providing more than 5 million carats of diamonds per year.
Dominion Diamond bringing back CanadaMark
During the Las Vegas jewelry shows, Dominion Diamond Corp. will relaunch the CanadaMark diamond hallmark program, a branding program that marks stones as being of Canadian origin.
Shree Ramkrishna celebrates 50th anniversary
Diamond manufacturer Shree Ramkrishna Exports Pvt. Ltd. (SRK) recently marked its 50th anniversary by “Celebrating the Legend,” its founder and chairman, Govind Dholakia.
Q1 production climbs 18 percent for De Beers
Anglo American plc reported that De Beers produced 7.5 million carats of rough diamonds in the first quarter ended March 31, up from 6.4 million carats in the prior-year period.
Alrosa inks agreement with GJEPC
State-owned Russian diamond mining company Alrosa has signed an agreement with India’s Gem & Jewellery Export Promotion Council to share trade and statistical data on the diamond trade.
Shareholders seek to oust Scio board
A recent filing with the Securities and Exchange Commission reveals that a number of shareholders of Greenville, S.C.-based Scio want to replace the board because the lab-grown diamond company isn’t making any money.
Forevermark expands quality operations to India
De Beers’ diamond brand Forevermark is opening a second Diamond Institute in India next year in anticipation of the growth it is expecting to see in the coming years, the company announced Thursday.
De Beers adds another 5 sightholders
De Beers said Tuesday it is adding five more companies to its list of sightholders for the current contract period but won’t be releasing their names until early next month, when they are “formally appointed to the list.”
In Russia, AWDC strengthens ties with Alrosa
Leaders from Antwerp and Russia inked an agreement in Moscow Wednesday that deepens the partnership between the Antwerp World Diamond Centre and diamond miner Alrosa.
Arkansas diamond park yields large white
The Crater of Diamonds State Park in Arkansas continues to be a source of relatively large rough finds for visitors, including this 2.89-carat white diamond dubbed the “Jax Diamond,” which was unearthed by Brandon Kalenda last week.
70-carat white among stones in Rio Tinto tender
A 70-carat rough white diamond from the Diavik mine in Canada is among the lots that will be offered at Rio Tinto’s first tender of the year, which will take place in Israel and Antwerp.
Ivory Coast to ‘demand’ UN lift diamond ban
After being deemed compliant by the Kimberley Process in November, the Ivory Coast will urge the United Nations to lift its embargo on the nation’s diamond exports at a meeting scheduled for next month, Reuters reported.
Hari Krishna’s Kisna diamond jewelry wins award
The All India Gems & Jewellery Trade Federation awarded Hari Krishna Exports’ diamond jewelry brand Kisna with its 2014 Paramparik (Traditional) Jewelry of the Year Award for the west.
Fugitive in diamond investment scam dies at 57
A man wanted by federal authorities in Las Vegas in connection with an alleged diamond mining company stock scam that bilked investors out of millions has died in Canada, authorities have confirmed.
GIA temporarily suspends rush services to relocate
The Gemological Institute of America’s New York Laboratory announced recently that it is suspending two of its services next month as the organization prepares to relocate from its current offices to the International Gem Tower.
De Beers: Diamond demand to rise slightly in ’14
Global demand for diamonds will increase slightly in 2014, fueled by a desire for polished diamonds in the United States and China, De Beers said when releasing it annual results Friday.
Rio Tinto’s diamond revenue up 15 percent
Rio Tinto reported Thursday that revenues from its diamond mining and sales unit increased 15 percent year-over-year, from $741 million in 2012 to $852 million in 2013.
Antwerp hosting second sale of Zimbabwe diamonds
This week, Antwerp will host another run-of-mine tender of diamonds from Zimbabwe’s Marange region that will be “substantially bigger” than the first held in December, the Antwerp World Diamond Centre announced.
Malca-Amit creates the ‘Gaborone Express’
Following the relocation of De Beers’ sales operations to Gaborone, Botswana, Malca-Amit announced it is now offering jet shuttle service between Johannesburg and the Botswana capital.
De Beers’ Q4, full-year production rise
De Beers’ parent company Anglo American PLC reported Wednesday that diamond production increased by 13 percent to 9.1 million carats in the fourth quarter while full-year production was up 12 percent to 31.2 million carats.
95-carat, Type IIa diamond found in Angola
Mining company Lucapa has unearthed a 95.45-carat diamond from its Lulo Diamond Concession in western Angola, the second-largest stone recovered to date at the alluvial deposit.
US remains top market for Antwerp, Israel
The United States is still the No. 1 market for polished diamonds from both Antwerp and Israel, with both industry hubs reporting an increase in their respective diamond trades in 2013.
Indian jewelers select brand of the year
Indian Jeweller magazine awarded Kisna Diamond Jewellery, the flagship brand of Hari Krishna Exports, as the jewelry brand of the year in its Jewellers Choice Design Awards.
Diamond park compiles 2013 stats
Visitors uncovered a total of 453 diamonds at the Crater of Diamonds State Park in Arkansas last year, down from the 530 found in 2012, according to Park Interpreter Margi Jenks.
Israel Diamond Exchange aids handicapped children
The Israel Diamond Exchange (IDE) recently held a fundraising drive for ILAN, the Israel Foundation for Handicapped Children, an organization that helps thousands of physically handicapped children and adults across the country.
KP vice chair continues support of artisanal mining
The Government of Angola, the current vice chair of the Kimberley Process (KP), has renewed its financial support of the Diamond Development Initiative (DDI), the Ottawa-based nonprofit that is working to formalize the artisanal diamond mining sector.
Manufacturer AV Diamonds teams up with sightholder
Manufacturer and diamond wholesaler A.V. Diamonds announced that it now has a partnership with HVK International Private Ltd., a sightholder with both De Beers and Russian diamond miner Alrosa.
Dates set for tender of Marange diamonds
The first tender of rough diamonds from the Marange region of Zimbabwe in Antwerp will take place this week, Botswana-based diamond company First Element (Pty.) Ltd. announced.
De Beers holds first sight in Botswana
This week marks De Beers’ inaugural sight in Gaborone following the relocation of its sales activities from London to Botswana, a move that has been two years in the making.
Rio Tinto marketing diamond fashion pieces in China
In an effort to tap into the growing demand for diamond fashion jewelry in China, mining company Rio Tinto has launched a new diamond marketing initiative called “The Fashion of Diamonds” there.
Book on Canadian diamonds, diamond industry
A new book has been published that explains why Canadian diamonds are one of the most important discoveries of the last century and showcases how diamond firms are working to tag these ethically mined gems to regulate distribution.
Varda Shine leaving De Beers
After 30 years with the company, Varda Shine is leaving her post as the global head of sightholder sales for the De Beers Group of Companies at the end of January to “explore other opportunities,” De Beers announced Thursday.
US investors buy up Alrosa IPO shares
Russian mining company Alrosa, which seeks to overtake De Beers as the world’s largest diamond miner by value, launched its initial public offering this week, with reports indicating that U.S. investors snagged 60 percent of the shares sold.
New projects improve diamond supply outlook
Amid industry concerns about the dwindling supply of diamonds, a number of announcements surfaced this week regarding new projects that will open up additional sources for mining the stones.
SRK Exports celebrates five decades
Indian diamond manufacturing company Shree Ramkrishna Exports Pvt. Ltd. (SRK) is marking its 50th anniversary this year and recently was recognized by India’s Gems and Jewellery Export Promotion Council (GJEPC).
De Beers’ Q3 production rises 21 percent
De Beers parent company Anglo American announced that the full restoration of operations at one of its mines led to a 21 percent increase in production in volume terms for De Beers.