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Rapaport Weekly Indian Market Report
Market slow with many manufacturers closed forschool vacation or working at reduced production levels. Seasonal lull expectedto last till mid-June. Weak demand from Far East and Middle East. Focus onVegas as traders prepare...
Research May 26, 2016 Rapaport News
Industry Stock Ticker Stock Image
Rapaport Diamond Industry Stock Tracker
Anglo American (+13%) led U.K.-based mining stocks this past week on news of strong sales at the fourth De Beers sight of the year. In the U.S., retail stocks were generally higher, headed by Walmart (+12%), with...
Financial-Legal May 26, 2016 Rapaport News
Ekati Underground
Dominion’s Sales Decline 5% in 1Q
Dominion Diamond Corporation reported a slower pace of declinein quarterly revenue after last year’s slump as rough prices picked up duringthe first three months of the fiscal year.Sales fell 5 percent to $178.3 million in the first fiscalquarter...
Mining May 26, 2016 Rapaport News
Rapaport Weekly Market Comment
Rounds: Vegas expectations mixed amid weakconsumer demand. Polished markets slow with some traders very selectivelybuilding stock for JCK. Rough markets weak with oversupply concerns followingDe Beers $630M of sales in cycle 4 (May). India April polished exports +9%to $1.8B, rough imports +37% to $1.9B....
Polished Markets May 26, 2016 Rapaport News
Frederic Cumenal Tiffany
Tiffany Cuts Earnings Forecast as 1Q Sales Fall
Tiffany & Co. reported a drop in quarterly revenue andprofit, while lowering its earnings guidance, because of a decline in spendingby U.S. customers and foreign tourists. Sales fell 7.4 percent to $891.3 million and profitslumped 17 percent...
Retail May 26, 2016 Rapaport News
Alrosa Zarnitsa diamond
ALROSA Finds Largest Diamond in Zarnitsa's History
ALROSA discovered a 207.29-carat rough diamond at itsZarnitsa mine in the Russian republic of Yakutia.The gem-quality diamond measuring 38 х 37 х 18 millimetersis the largest found since open-pit mining started at the Zarnitsa pipe in1999. As yet unnamed, the stone...
Mining May 25, 2016 Rapaport News
Cullinan Dream
‘Cullinan Dream’ to Lead Christie’s New York Auction
The largest fancy intense blue diamond ever offered at auctionis to go under the hammer at Christie’s New York next month.The auctioneer expects the cut-cornered rectangularmixed-cut, 24.18-carat, VS2 gem named the ‘Cullinan Dream’ to fetch...
Retail May 25, 2016 Rapaport News
India Arch
India Tax Changes: One Win, One Defeat for Jewelers
The Indian government reversed a decision to broaden theapplication of a jewelry tax but is standing by a new stringency requiring morecustomers to present identity cards in shops.Tax collected at source, a 1-percent levy paid by customers,will only apply to jewelry purchases of $7,422...
Financial-Legal May 25, 2016 Rapaport News
Laurence and Francois Graff
Graff Diamonds’ Profit Slumps 74% in 2015
Graff Diamonds Limited, the U.K. subsidiary of Graff Diamonds Holdings, reported sales slid and profit nosedived last yearas tougher market conditions in the global gem industry hit the high-endLondon-based jeweler.Revenue fell 32 percent...
Retail May 24, 2016 Rapaport News
Hong Kong
Hong Kong Jeweler Tse Sui Luen’s Profit Dives 40%
Tse Sui Luen, a Hong Kong-based jeweler, reported revenuedeclined and profit plummeted in the past fiscal year as fewer tourists frommainland China dampened retail activity.Sales dropped 8.6percent to $455.6 million (HKD 3.54 billion) and...
Retail May 24, 2016 Rapaport News
De Beers Office
De Beers Sales Drop for First Time in Five Months
De Beers reported rough sales declined to $630 million inits fourth sales cycle of the year.Revenue fell 5.4percent in the May cycle from a revised $666 million in April, according to thediamond miner’s parent Anglo American.“As normalseasonal...
Rough Markets May 24, 2016 Rapaport News
India’s Polished Diamond Exports +9% in April
India’s polished diamond exports jumped 8.8 percent year onyear to $1.78 billion in April, according to provisional data provided by theGem & Jewellery Export Promotion Council. By volume, polished exportsincreased 3.1 percent to 2.6 million carats....
Polished Markets May 24, 2016 Rapaport News
Andrey Polyakov
ALROSA’s Polyakov Steps Up to WDC President
Andrey Polyakov, the vice-president of ALROSA, has takenover as president of the World Diamond Council (WDC).Polyakov (pictured) has been vice-president of the WDC since 2015 andassumed the presidency on May 22, succeeding Edward Asscher. Asscher’s...
Mining May 23, 2016 Rapaport News
Asian Star logo
Asian Star’s Profit Slides Despite Sales Growth
Asian Star, a Mumbai-based diamond manufacturer, reportedprofit dropped in the past fiscal year even as revenue rose.Net profit declined 11 percent to $10.7 million (INR 725.5 million)even as sales edged up 2.5 percent to $488.7 million in the 12 months...
Manufacturing May 23, 2016 Rapaport News
Gemfields emeralds
Gemfields’ Lower-Quality Emeralds Hit New Price Record
Gemfields announced a new record average price for itslower-quality gemstones sold at an auction of rough emeralds in India lastweek.The miner said it sold 2.78 million carats of gems extractedfrom its Kagem mine in Zambia for $14.3 million,...
Gemstones May 23, 2016 Rapaport News
Alexei Ulyukayev
Russia Eyes $898M from ALROSA Privatization
Russia expects it will get more than $898.4 million (RUB 60billion) from a sale of shares in ALROSA, the country’s news agency TASS citeda minister as saying.The government is planning to sell a 10.9-percent stake inthe diamond miner...
Mining May 23, 2016 Rapaport News
Warren Buffett’s Jewelry Unit Acquires Nordt
Richline Group, a jewelry company owned by Warren Buffett’sBerkshire Hathaway, made a second acquisition in less than a month with thepurchase of a precious-metals company, John C. Nordt.Nordt, amanufacturer for and supplier to the jewelry industry, was founded in 1872...
Retail May 22, 2016 Rapaport News
Ekati Mine
Dominion’s Jay Project Jumps Environmental Hurdle
Dominion Diamond Corporation received environmental approvalfor its Jay project that could extend the lifespan of the Ekati mine in Canadaby more than a decade.The miner said the Northwest Territories’ Minister of Lands,Robert McLeod, accepted...
Mining May 22, 2016 Rapaport News
Jewelry Demand Propels Richemont to Growth
Richemont’s jewelry sales in the past fiscal year jumped afterstrong demand outweighed a decline in appetite for watches.Revenue from the Geneva-based luxury group’s jewelry “maisons” jumped 7 percent to $6.79billion (EUR 6.05 billion) in the fiscal...
Retail May 22, 2016 Rapaport News
Western Athabasca Basin, Saskatchewan - Athabasca
De Beers to Invest in Canada Exploration
De Beers said it will spend up to $15.6 million (CAD 20.4million) on hunting for diamonds in an underexplored part of the Canadianprovince of Saskatchewan.The miner entered into an agreement wih CanAlaska, a companythat has staked claims to kimberlite-style targets in the NorthwesternAthabasca...
Polished Markets May 22, 2016 Rapaport News
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