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Stellar Baoulé mine Guinea
Stellar Shares Fall After Funding Deal
Trading resumed in Stellar Diamonds’ shares on Mondayfollowing a six-month suspension, after the company completed fundraising for amining project in Sierra Leone.The issue of 5.9 million new shares at a price of $0.07 (GBP0.055) per share will raise...
Mining Feb 27, 2017 Rapaport News
Borsheims
Berkshire Hathaway’s Retail Sales Jump
Revenue from Berkshire Hathaway’s retail division, includingthree jewelry businesses, grew 14 percent to $15.09 billion last year, thecompany reported over the weekend.Pre-tax earnings for the unit increased 17 percent to $659 millionin 2016, the...
Retail Feb 27, 2017 Rapaport News
Rough and Loupe`
Trans Hex Rough Sales Fetch $895/ct.
Diamond miner Trans Hex reported sales of $14.7 million (ZAR201.1 million) at three recent tenders of rough stones from its wholly ownedoperations in South Africa.The sales in October, December and February fetched anaverage price of $895...
Mining Feb 27, 2017 Rapaport News
JCPenney store
J.C. Penney Scales Back Physical Stores
J.C. Penney plans to close 130 to 140 stores this year,joining the list of major U.S. retailers downsizing their brick-and-mortarnetworks in the face of growing competition from ecommerce.The department-store chain will shut 13 to 14 percent of itsoutlets and...
Retail Feb 27, 2017 Rapaport News
Rough emerald
Gemfields Sales Dented by India Liquidity Slump
Gemfields’ half-year revenue plummeted 46 percent as thecompany deferred an auction of higher-quality rough emeralds due to tighterliquidity in India.Sales fell to $51 million in the fiscal first half thatended December 31, 2016, the colored-gemstone miner said last...
Gemstones Feb 26, 2017 Rapaport News
Stornoway Renard
Stornoway Upbeat on Revenue After 2016 Profit
Stornoway Diamond Corporation recorded a profit in 2016 dueto a tax refund, and received a performance boost from the launch of the Renardmine in October.The company reported a net income of $15 million (CAD 19.6million) for the year,...
Mining Feb 26, 2017 Rapaport News
Israel Diamond Exchange
MID Tops Ranking of Israel Diamond Exporters
MID House of Diamonds was the leading Israeli polished-diamondexporter in 2016 for the second year running, according to a recent list publishedby the nation’s diamond controller.The company’s exports declined 3.7 percent to $184 millionin a difficult...
Polished Markets Feb 26, 2017 Rapaport News
Rapaport TradeWire February 23, 2017
RAPAPORT NEWS SERVICE | February 23, 2017...
Research Feb 23, 2017 Rapaport
Rapaport Weekly Market Comment
High hopes for next week’s Hong Kong show after China jewelrysales improved during the Chinese New Year. Polished prices steady as suppliersawait outcome of the show and defend high rough prices. Manufacturing rising withsteady rough demand during sight week. De Beers 2016 earnings...
Polished Markets Feb 23, 2017 Rapaport News
India Arch
Rapaport Weekly Indian Market Report
Trading cautiouswith foreign buyers looking for bargains and dealers waiting for better pricesat the Hong Kong show. Domestic demand quiet with small independent retailersstill acclimatizing to new demonetization rules. Steady demand...
Research Feb 23, 2017 Rapaport News
Industry Stock Ticker Stock Image
Rapaport Diamond Industry Stock Tracker
Large diamond miners’ stocks had a disappointing week, with Dominion Diamond (-12%) leading the declines after reporting a drop in full-year sales. ALROSA (-4.5%) fell amid uncertainty over who will replace its departing...
Financial-Legal Feb 23, 2017 Rapaport News
Gareth Mostyn
De Beers Foresees Pleasingly Normal 2017
De Beers offered few surprises in its 2016 earnings, which were published on Tuesday and reflected what chief executive officer Bruce Cleaver called a “very pleasing year.” Granted, growth was compared to the weak performance...
Rough Markets Feb 23, 2017 Avi Krawitz
Stellar Tongo mine Sierra Leone
Stellar Agrees to Operate Sierra Leone Mine
Stellar Diamonds has entered a subcontracting arrangement tooperate the Tonguma mine in Sierra Leone, after opting out of a deal to acquirethe deposit.Under the arrangement, Stellar will run the mine and sellthe resulting diamonds, paying...
Mining Feb 23, 2017 Rapaport News
Ekati
Dominion Sales Fall After Ekati Fire
Annual sales at Dominion Diamond Corporation slumped 21percent due to a fire at one of its mines and sluggish demand for smaller roughstones, the company said Wednesday.Revenue slid to $570.9 million in the fiscal year that endedJanuary...
Mining Feb 23, 2017 Rapaport News
Anna Martin GIA Diamond Empowerment Fund DEF
GIA Executive to Head Diamond Empowerment Fund
The Diamond Empowerment Fund (DEF) has named Anna Martin asits new president, succeeding Phyllis Bergman, who is departing after a five-yearterm.Martin (pictured), who is senior vice president for global developmentand beneficiation at the Gemological...
Mining Feb 23, 2017 Rapaport News
Swiss watches
Swiss Watch Exports Continue to Decline
The Swiss watch industry started the year where it left offas exports fell in January, albeit at a slower pace than in 2016.Outbound shipments of Swiss timepieces fell 6.2 percent yearon year to $1.42 billion (CHF 1.43...
Watches Feb 22, 2017 Rapaport News
Tiffany blue box 140
Luxury Veterans Join Tiffany Board
Tiffany & Co. has added former executives from RalphLauren Corporation and Bulgari to its expanded board, as the jewelry retailerundergoes a series of senior personnel changes.Roger Farah, a former chief operating officer of RalphLauren, will become...
Retail Feb 22, 2017 Rapaport News
michael hill
Store Growth Drives Michael Hill Sales
Michael Hill saw a 5-percent sales increase during theJuly-to-December period as it expanded its store network, the Australia-basedjeweler reported.Revenue rose to $250.9 million (AUD 327.5 million) for thosesix months, which constitute the company’s fiscal...
Retail Feb 21, 2017 Rapaport News
zharkov
ALROSA President Zharkov to Step Down
Andrey Zharkov will resign as president of ALROSA, a sourceclose to the Russian diamond miner said.Zharkov’s three-year term as president expires in May 2018,but the timing of his departure is unclear, the source said in an email to RapaportNews on Tuesday. The...
Mining Feb 21, 2017 Joshua Freedman
Martin Rapaport
Rapaport Statement on President Trump’s Trade Policy
President Trump's trade policy is based on his principles of “America First” and “Reciprocity.” America must use its purchasing market power to ensure reciprocal benefits from trade partners. Those who do not reciprocate, should not...
Polished Markets Feb 21, 2017 Martin Rapaport
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