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Galaxy 2000 Sarine
Sarine Warns Polished Oversupply to Hit Results
Sarine Technologies’ revenue dropped significantly in thethird quarter as an oversupply of polished diamonds resulted in manufacturerslimiting production and spending less on equipment. Sarine, which supplies technologyto the diamond-manufacturing sector, estimated that revenues amounted to justover $11...
Technology Oct 17, 2017 Rapaport News
Peter Meeus
Peter Meeus to Leave Dubai Diamond Exchange
Peter Meeus is stepping down from his position as chairman of the Dubai Diamond Exchange (DDE), effective on January 1, the exchange informed the trade Monday. He will be replaced by Ahmed Bin Sulayem, who heads DDE’s parent...
Polished Markets Oct 17, 2017 Avi Krawitz
Dubai Trade Warns Against Diamond Tax
The introduction of value added tax (VAT) on loosediamonds would strongly jeopardize growth opportunities in the United ArabEmirates (UAE), Dubai’s diamond leadership warned on Monday.“The possible cost implications of a VAT introduction forUAE traders are huge,”...
Polished Markets Oct 17, 2017 Avi Krawitz
De Beers Victor Mine
De Beers’ $370M Sight Reflects Slow Rough Market
De Beers’ October sight closed with a value of $370 millionas rough-diamond buying slowed due to holidays and sightholders reported asluggish dealer market.Proceeds from the miner’s eighth sales cycle fell 27% from$507 million in the...
Mining Oct 17, 2017 Joshua Freedman
Peace Diamond
Peace Diamond Press Conference
RAPAPORT PRESS RELEASE, October 16th, 2017,New York… The Government of Sierra Leone and the Rapaport Group are pleased toannounce the Peace Diamond Press Conference, which will take place over theinternet on Tuesday...
Rough Markets Oct 16, 2017 Rapaport News
Frederic Cumenal Tiffany
Ex-Tiffany Boss Joins Blue Nile Board
Online diamond retailer Blue Nile has appointed formerTiffany & Co. CEO Frédéric Cumenal to its board of directors.Cumenal (pictured) left Tiffany in February, having been in the topjob since April 2015. He was previously the...
Retail Oct 16, 2017 Rapaport News
Jewelry Rental Company Raises $5M
Flont, which offers a jewelry-renting service, has raised $5million from investors to grow its inventory and staff and help fund anexpansion into the Chinese market. The company describes itself as a pioneer of the “Jewelry...
Retail Oct 16, 2017 Rapaport News
Argyle violet diamond ring
Jeweler Displays $100M of Colored Diamonds
Australian jeweler Linneys is showcasing $100 millionworth of jewelry featuring rare colored diamonds from the Argyle mine.The highlight of the collection is a ring containing theArgyle Violet, a 2.83-carat fancy deep grayishbluish violet diamond that Rio...
Polished Markets Oct 16, 2017 Rapaport News
Stornoway Renard
Stornoway Reports Robust Output at Renard Mine
Stornoway DiamondCorporation reported higher-than-planned recovery of diamonds from its Renardmine in Canada in the third quarter and higher average pricing compared to thefirst half of the year.Duringthe quarter that ended September 30, better-than-expected ore grades...
Mining Oct 16, 2017 Rapaport News
Petra Finsh mine
Petra Diamonds Warns of Lending Breach
PetraDiamonds is likely to breach its lending covenants following strikes at threeSouth African mines and a dispute over valuation at its operations in Tanzania,it warned.Thecompany has informed its lenders that it might fail to meet certain ratiosrelated to its...
Mining Oct 15, 2017 Rapaport News
Alrosa Sorting
Alrosa Sales Drop Due to Early Diwali
Alrosa’s sales fell sharply in September as Indian cuttingfactories prepared to close ahead of the Diwali festival this month, the miner said last week.Total rough- and polished-diamond sales dropped 32% year on year to $309.7 million,...
Mining Oct 15, 2017 Rapaport News
Stephen Webster colored diamond ring Oct 2017
Contemporary Rings Lead Bonhams Sale
Diamondrings by contemporary designers Cindy Chao and Stephen Webster will headlinethe Bonhams Rare Jewels & Jadeite Sale in Hong Kong on November 26.The top lotis a dress ring by Chao featuring an oval-cut, 4.23-carat, fancypink-purple diamond,...
Polished Markets Oct 15, 2017 Rapaport News
Rapaport Sierra Leone Peace Diamond
Rapaport to Auction 709ct. Peace Diamond
RAPAPORT PRESS RELEASE, October 15, 2017, New York… The Governmentof Sierra Leone is pleased to announce the appointment of the Rapaport Group asthe marketing and sales agent of the Peace Diamond. This 709-carat diamond,discovered...
Rough Markets Oct 15, 2017 Rapaport
Bulgari Serpent
LVMH Sees Strong Jewelry and Watch Growth
LVMH Moët Hennessy Louis Vuitton’s revenue from jewelry and watches increased 8% year on year to $1.12 billion (EUR 951 million) in the third quarter. Overall group revenue jumped 14% to $12.26 billion (EUR 10.38...
Retail Oct 10, 2017 Rapaport News
De Beers to Verify Diamond Investment Product
De Beers has partnered with the Singapore Diamond Mint Company (SDM) to provide verification services that confirm the natural origins of diamonds being used for a new investment-grade product.Under the agreement, the International Institute...
Retail Oct 10, 2017 Rapaport News
Royal Asscher Tokyo Store
Royal Asscher to Open Flagship Tokyo Store
Royal Asscher, renowned for cutting some of the world’s most celebrated diamonds, plans to open its largest, flagship store in the Ginza district of Tokyo in late November, the jeweler announced.The new two-story branch will...
Retail Oct 10, 2017 Rapaport News
Mir Mine
Alrosa Mulls Next Step for Mir Mine
Alrosa is considering its options for the Mir mine, where operations were suspended in August due to a flood that claimed eight lives. The company has engaged with independent auditors to investigate the cause of the...
Mining Oct 10, 2017 Rapaport News
GIA Grading Report
GIA to Launch Japan Education Program
The Gemological Institute of America (GIA) is planning to open an educational campus in Tokyo featuring courses in gemstones and diamonds to help strengthen Japan’s industry, the organization announced.“The expansion of our activities with updated educational offerings will...
Polished Markets Oct 09, 2017 Rapaport News
Brian Land
Canadian Jewelry Groups Combine
The Canadian Jewellers Association (CJA) has merged with Jewellers Vigilance Canada (JVC), aiming to create a stronger trade body, the groups said last week. The CJA appointed Brian C. Land (pictured), a past president...
Retail Oct 09, 2017 Rapaport News
The Raj Pink
Record 37ct. Pink Diamond Up for Sale
Sotheby’s will auction the Raj Pink diamond next month for an estimated $20 million to $30 million, the company announced Sunday. Weighing 37.30 carats, the diamond is the largest fancy intense pink diamond...
Polished Markets Oct 09, 2017 Rapaport News
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