Rio Tinto’s Diamond Sales Slip in 2018

Thursday,28 February 2019 01:242 Comments

Revenue from Rio Tinto’s diamond division slid 1.6% to $695 million in 2018, the miner reported Wednesday.  The diamond unit’s profit rose 28% to $118 million, while earnings before interest, tax, depreciation and amortization (EBITDA) increased 4.9% to $301 million.  Diamond production fell 15% to 18.4 million carats for the year, with output slipping at […]

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53M Americans to Buy Diamonds This Holiday

Tuesday,04 December 2018 03:322 Comments

More than 53 million US consumers intend to buy a diamond during the extended festive period from Thanksgiving to Valentine’s Day, according to a survey by the Diamond Producers Association (DPA). The November poll, which the DPA conducted together with KRC Research, collated responses from 1,000 men and women in the US aged 18 to […]

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Colored Diamonds Lead $60M Sotheby’s Sale

Monday,19 November 2018 03:562 Comments

Sotheby’s garnered $59.9 million at its Geneva auction last week as a 21.19-carat pink diamond smashed its estimate with a final price of $7.4 million.   The cushion-shaped, fancy-light-pink, VVS2-clarity, type IIa diamond fetched $347,601 per carat, Sotheby’s reported following the Thursday sale. It had a presale valuation of $4.5 million to $6.5 million.   […]

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Market Report

Tuesday,16 October 2018 12:142 Comments

Diamond market quiet over Jewish holidays and Hong Kong Moon festival. Mixed expectations for Oct. 1 Golden Week, as consumer sentiment reflects impact of US-China trade war and yuan currency depreciation (-9.5% since April 1 to $1/CNY 6.88). India remains slow, particularly for low-value, small diamonds. Steady demand for 0.30 to 1 ct., D-J, SI, […]

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Petra Boss Steps Down Amid $203M Loss

Monday,24 September 2018 06:122 Comments

Petra Diamonds CEO Johan Dippenaar will leave the company after it recorded a huge loss during the fiscal year, it said Monday.   The company reported a net loss of $203.1 million for the period ending June 30, as opposed to a profit of $20.7 million the year before. This was due to the combination […]

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GIA promises $2M in Scholarships

Thursday,09 August 2018 09:270 Comments

  The Gemological Institute of America (GIA) is offering $2 million in scholarships for 2019 to established and aspiring professionals.   The grants are available to students interested in registering for the institute’s gemology and jewelry manufacturing-arts programs, distance-education courses and lab classes. Successful applicants will be able to use the scholarships at the GIA’s […]

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Petra Sells Kimberley Mine for $22M

Wednesday,11 July 2018 11:100 Comments

Petra Diamonds will offload its majority stake in the Kimberley mine, claiming the deal will ensure a sustainable future for the project and help the company focus on its core assets.   Ekapa Mining has agreed to buy Petra’s 76% interest in the South Africa deposit for $22 million (ZAR 300 million), Petra said Thursday. […]

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Synthetic Diamonds?

Thursday,24 May 2018 03:280 Comments

Some 68% of Americans don’t consider synthetics to be real diamonds, with most citing the fact that they don’t come from the earth, a Diamond Producers Association (DPA) poll showed.   Another 16% of those surveyed said they weren’t sure if a diamond created in a factory was real, while the remaining 16% believed they […]

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Alrosa Sees Spike in Sales

Thursday,15 February 2018 06:260 Comments

Alrosa’s sales surged 38% to $504.5 million in January, as a strong holiday season boosted market sentiment.   “We have seen good demand for the whole assortment of our diamond products,” Yury Okoemov, deputy CEO of Alrosa, said Monday. “[Demand was] supported by positive trends in the major sales markets, backed by good retail sales […]

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GJEPC Predicts Strong Year for Jewelry

Thursday,15 February 2018 06:250 Comments

India’s gem and jewelry exports will grow by a double-digit percentage this year, Pramod Agrawal, the newly elected chairman of the Gem & Jewellery Export Promotion Council (GJEPC), predicted this week.   The high quality of Indian manufacturing and a recovery in US and European markets will drive the growth, Agrawal explained at the Signature […]

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