News about diamond finds, mine operations, and trade agreements that affect the market.
Question : Blood Diamonds
Hi Robert, thank you very much for providing all this information about conflict diamonds. I have been googling to find out as much information as possible about blood diamonds before I decide if I want a diamond or if I should opt for one of the cheaper alternative stones. I have found some articles online that say the Kimberley Process only applies to rough diamonds and doesn’t apply to cut and polished diamonds even if they are funding human rights violations. Is this true? Are cut and polished blood diamonds subject to any regulation?
I understand the desire […]
As the result of section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, public companies have had to file reports over the last month disclosing whether they use conflict minerals, which are defined as minerals emanating from the Democratic Republic of the Congo (DRC) or its nine adjoining countries. Gold is considered a possible conflict mineral, as is tungsten, tin, and tantalum. This section affected companies from a variety of sectors—not just jewelry—and… …read more
In the first interview since he took over the position of De Beers’ executive vice president of global sightholder sales from Varda Shine earlier this year, 30-year De Beers vet Paul Rowley talked to JCK at the De Beers forum in Las Vegas about why banks are skittish about the industry, whether prices will go up, and how De Beers intends to ensure sightholders pay their bills.JCK: You have been in the job for a number of months. Anything that you want to change as far as sightholder… …read more
Botswana became independent in 1966. But at this year’s JCK show in Las Vegas, the country—or at least the diamond part of it—seemed to be declaring its independence for a second time. Not only did the world’s leading diamond producer have a tourism-promoting booth at the show (which, suffice it to say, doesn’t get lots of booths devoted to tourism), its minister of minerals, energy, and water resources, Onkokame Kitso Mokaila, was quite visible, accepting an award at the Diamond Empowerment… …read more
In an interview yesterday at the Forevermark breakfast, De Beers CEO Philippe Mellier denied reports the company aims to raise prices an average of 5 percent a year. He also touched on synthetics and whether De Beers currently has a deal to enter that market.One note: Mellier will speak on these topics and more at a session on De Beers’ Perspectives on the Diamond Industry, on Friday, May 30, at the Surf Ballroom in Mandalay Bay, 4 p.m.–5:15 p.m.JCK: There have been reports that De Beers plans… …read more
Some further thoughts stemming from last week’s post on Antwerp and Zimbabwe: Whatever you feel about Antwerp World Diamond Centre CEO Ari Epstein’s remarks last week to the Zimbabwe Parliament, he did have a point. His organization was able to get the European Union to remove its sanctions against Marange diamonds, and when Antwerp auctioned those gems, they fetched nice prices. It’s also pledged to help with value addition and improving technical skills. And yet Zimbabwe seems to be… …read more
Source: JCK Online Cutting Remarks – […]
There’s a lot of talk about whether rough should be traded in Antwerp or Dubai. But in the last year, a new market has emerged that could prove equally significant—online.
After 35 years as a rough broker, Guy Harari says he first got interested in an online trading platform when he sat in his office and had an epiphany. “I’m thinking, how come I can’t go on my computer and see what’s going on [in the rough market]?” he says. “Why do I have to travel all over the world, call all sorts of… …read more
You may remember Supplier of Choice. It was the De Beers policy designed to set the industry up for the post-cartel world. It billed itself as transparent, open, and objective. No longer would the Diamond Trading Company (DTC) be a closed club, it proclaimed; under the new policy, any company could apply to become a sightholder. (Executives even held webinars about how to apply.) Not that landing on De Beers’ magic list was easy. All prospective and current clients had to fill out an… …read more
Source: JCK Online Cutting Remarks […]
De Beers Approves Financing for Canadian Diamond Mine
De Beers Board of Directors has given approval to move the Snap Lake project from the current stage of preproduction development into full construction at a cost of approximately $509.7 million.
This is a bit of a game changer, because DeBeers will be offering diamonds that are guaranteed non-conflict, and mined in North America.
Read the full article at JCK Online.
[Editor’s Note :: This article is for dealers attending the Tucson show, but it gives consumers a good idea of how things are going, and prices are rocketing this year, for some time now.]
February’s annual Arizona gathering of the world’s gem dealers, rock hounds, crystal sages, and purveyors of gems and minerals kicks off at the beginning of the month.
Prices are going up as mining declines and supply goes down, and fine goods get harder to find. As stock gets harder to replace, prices soar.
Besides the big story on ever-increasing gem prices, expect to encounter the same gemstone treatments that […]
The world’s second-largest miner, Rio Tinto announced its first rough diamond tender for 2014, which consists of 124 lots of the special gems including a range of rare natural pink precious rocks from its Argyle mine in Western Australia.
According to Patrick Coppens, general manager of sales for Rio Tinto Diamonds, the global demand for precious stones continues to be strong.
Experts predict that rough diamond production will grow at an average annual rate of 4.8% from now until 2018, reaching a peak level of 169 million carats and a production value of $19.6 billion.
By 2019, however, the report authors expect average […]