Liberia: UN Panel Raises Concerns Over Diamond Trade Sep 4, 2008
In September 2004, an Act was passed that added provisions for controls on the export, import and transit of rough diamonds. It prohibits the exporting authority from issuing a Kimberley Process certificate until the exporter has provided conclusive evidence that the rough diamonds meant for export have been mined in the Republic or imported in compliance with law ... Only licensed dealers can export rough diamonds. (allAfrica.com)
Indian bombs shake diamond trade Aug 14, 2008
More than 800,000 workers cut and polish rough diamonds in Surat, earning India US$11 billion in exports last year ... To add to these woes, the Diamond Trading Corporation, which controls 80% of the global trade in rough diamonds, last month announced a 5% increase in the price of roughs. (Asia Times Online)
Fast Facts: Israel Aug 11, 2008
Imports - commodities: raw materials, military equipment, investment goods, rough diamonds, fuels, grain, consumer goods. Imports - partners: US 12. (CBS News -- 60 minutes)
Credit crunch Aug 6, 2008
Meanwhile, De Beers reports sales of rough diamonds are 10% ahead of last year while the owner of Cartier says jewellery sales rose 16% between April and June. Bookings at London's upmarket Dorchester Hotel have risen 12% in the past year. (BBC News -- Business)
Post-blasts, foreign buyers reluctant to visit Surat Jul 31, 2008
SURAT: Pawan Kumar, a dealer of polished and rough diamonds and owner of a brokerage firm Aura NV in Antwerp, Belgium, is apprehensive about visiting India to buy polished diamonds after the serial blasts in Bangalore, Ahmedabad and recovery of live bombs in Surat. "I will lose good business when the season has started but looking at the current situation, I cannot risk my life. I will come after August 15 now." ( ) Like Pawan, many buyers of polished diamonds who fly down to Surat and Mumbai... (India Times, India)
Gems & jewellery exports to grow 20% Jul 30, 2008
Imports of rough diamonds was at Rs 13,172 crore, up 27. 6. (India Times)
Diamond parastatal sets R1.1bn buy target Jul 28, 2008
In interim results yesterday, De Beers said its global sales of rough diamonds rose 10 percent to $3. 3 billion, largely because of higher diamond prices. (Business Report, South Africa)
De Beers warns on slowdown hitting gem demand Jul 24, 2008
De Beers, the world's largest miner of rough diamonds, warned that the US economic slowdown was affecting demand for gems but said there was still a shortage of good quality stones. The private company, which is 45 per cent-owned by UK-listed mining group Anglo American, saw a slight drop in diamond production in the six months ending June 30 after the sale of two South African mines. (Financial Times)
De Beers First-Half Sales Climb 10% as Demand in Asia Lifts Diamond Prices Jul 23, 2008
De Beers, which produces about 40 percent of the world's rough diamonds by value, produced 24. 2 million carats in the period under review as a power shortage in South Africa cut output 4. (Bloomberg -- Europe)
De Beers beats energy challenges Jul 23, 2008
Sales of rough diamonds in the first half (including those through joint ventures) were $3. 3 billion, 10 percent higher than in the first half of 2007, "as demand from our clients has enabled the Diamond Trading Company to steadily increase prices during the period". (Business Report, South Africa)
Diamond traders in Mumbai push rivalry with Antwerp Jul 13, 2008
Faced with growing global competition, India hopes to cling on to its position in polishing by spreading into an area in which it has lagged: the trade of rough diamonds ... 8 billion worth of rough diamonds and exported $10. (International Herald Tribune -- Business)
Diamond workers strike turns deadly, hits trade Jul 7, 2008
94 million in the same period a year ago, according to data available with Gem and Jewellery Export Promotion Council, or GJEPC. Imports of rough diamonds in the two months have also risen 23 ... In the last financial year, Hong Kong emerged as the largest importer of cut and polished diamonds from India, with a share of 35% of exports, followed by the US, which accounted for another 24%, and the United Arab Emirates, which imported 13%, according to GJEPC.Soaring prices of rough diamonds and... (Livemint)
Ex-private banker faces federal charges for theft Jul 5, 2008
The surge has been driven by increased interest from a growing number of multi-millionaires in emerging markets, a shortage of rough diamonds, and the dollar's slide, he said. (Reuters). (Boston Globe)
Diamond scours foreign shores Jul 5, 2008
However, the main focus of the company is going to be rough diamonds to cater to the increasing demand, Mr Pandya said. Bookmark / Share. (India Times)
Diamond group urges boycott of Venezuela gems Jun 26, 2008
Venezuela has been under fire from pressure groups, which said the South American nation was allowing large scale smuggling and flouting rules of the Kimberley Process, which certifies rough diamonds as legitimate ... Under the Kimberley Process, set up in 2000 after reports that smuggled diamonds were financing civil wars, governments certify rough diamonds as being mined legally. (San Diego Union-Tribune -- Business)
Harry Winston First-Quarter Profit Trails Estimates as Production Slides Jun 5, 2008
The company said it held two primary sales of rough diamonds in the quarter, the same number as a year earlier. Two-Year Expansion. (Bloomberg -- Canada)
Namibia: Mining Earnings Jump 13 Percent Jun 3, 2008
With the formation of the Namibia Diamond Trading Company (NDTC), the Government and De Beers aim to increase the amount of local cutting and polishing of rough diamonds in Namibia. Eleven site holders were identified and allocations made, aiming at increasing the value of rough diamonds cut and polished locally to N$2 billion by 2011. (allAfrica.com)
Charge your cards! May 20, 2008
Antwerp has played a large role in the diamond industry since the 1400s, and more than 85 percent of the world's rough diamonds are traded in the central city. There are also dozens of diamond jewellers offering all styles of diamond jewellery and as an extra incentive several dealers offer a free night's stay at one of the city's hotels when you come to purchase a ring. (iAfrica.com)
Task Force urged to prevent Ivorian diamonds from entering Ghana Apr 23, 2008
He explained that diamonds from Cote d'Ivoire were not accepted by the Kimberley Process Certification Scheme, an international certification scheme governing rough diamonds exports, imports and trading to ensure elimination of "conflict diamonds" from rebels entering the international market ... Mr. Asante explained to the GNA that Ghana started the sensitization programme following a report by the United Nations panel of experts who accused the country of allowing its territory to be used as a... (Ghana Web, Ghana)
Cte d'Ivoire: Presidential Poll Set For November Apr 15, 2008
During the reporting period the experts were also informed by Mali that an attempt was made last December to export 31 rough diamonds, purportedly of Malian origin, through Bamako airport. Exporting rough diamonds from Mali is illegal as the West African country is not a member of the Kimberley Process, the system set up in 2003 to prevent rebel groups and others from profiting from diamond sales. (allAfrica.com)
India loads up presentsfor African safari Apr 12, 2008
India has also been working on package deals with Namibia and Angola in order to build stakes in oilfields and rough diamonds. India's huge diamond-cutting industry uses about $10 billion in rough stones every year, adding about $4 billion in re-sale, according to government figures. (Asia Times Online)
Harry Winston Climbs After Profit Rose on Rough Diamond Sales, Tax Gain Apr 9, 2008
April 8 (Bloomberg) -- rose the most in two weeks in Toronto trading after the miner and jewelry retailer said fourth-quarter profit climbed more than threefold on tax gains and increased sales of rough diamonds ... Operating profit from Harry Winston's 40 percent stake in the Diavik diamond mine in Canada's Northwest Territories rose 77 percent in the quarter from a year earlier as sales of rough diamonds increased on higher prices and improved mine efficiency. (Bloomberg -- Canada)
Diamond cos head to Africa Mar 25, 2008
India has decided to look at Africa for direct sourcing of rough diamonds ... Indias estimated imports of rough diamonds in 2007-08 is worth about $10 billion, while exports are estimated at $14 billion ... India will find it difficult to source rough diamonds unless it demonstrates to African nations that it will collaborate actively in helping them move up the value chain, he cautioned, adding that the Africanisation of diamonds processing industry is not a threat to India, but a great... (India Times)
Rising Indian imports spur Dubai diamond trade Mar 3, 2008
"It is encouraging to see more rough diamonds coming directly from producing countries and more polished diamonds coming from established diamond centres like Antwerp and Mumbai being marketed in Dubai," said Youri Steverlynck, CEO, Dubai Diamond Exchange. Other stories in this section. (India Times)
Toronto gemologist charged with smuggling Mar 1, 2008
TORONTO A gemologist from Toronto has been charged with smuggling rough diamonds into Canada ... Police also allege he tried to get around an international agreement to ensure trade in rough diamonds doesn't fund violence ... Mr. MacKay was charged with smuggling contrary to the Customs Act and importing rough diamonds without the proper certificate contrary to the Export and Import of Rough Diamonds Act. (Globe and Mail -- National)
State Diamond Trader already in a pickle Feb 29, 2008
Johannesburg South Africa's State Diamond Trader (SDT) faces a big challenge as it begins selling rough diamonds early next year, due to budget restrictions ... 2 million) worth of rough diamonds to sell at its first sale in January ... Last week, the SDT began assessing applications for rough diamonds it plans to sell locally in response to the beneficiation drive to add value to raw materials. (Business Report, South Africa)
Suspect gems here Feb 23, 2008
As he made his way through customs, a search of his clothes turned up 180 carats of rough diamonds, as well as several hundred carats of gems, including rubies, sapphires and more than 40 grams of raw gold, say RCMP.. The man now faces potential charges under Canada's Export and Import of Rough Diamonds Act, a law intended to stop the trade in blood diamonds that for years financed rebel groups fighting civil wars in African countries like Sierra Leone. (Edmonton Sun)
Radio 4: In a class of its own Feb 8, 2008
I cannot abide certain characters, such as Matt Crawford, (one of those Cockney rough diamonds on whom the station is so keen) and the ceaselessly sub-hysterical Kathy Perks. But even as I fight against becoming The Sort of Person Who Likes The Archers, I've become drawn like a gasping haddock into nets of story-lines, and am forced to like, or at least appreciate, the characters. (Independent)
India's flawed diamond dream Feb 5, 2008
About 80% of the worlds rough diamonds and half its polished diamonds are bought and sold in Antwerp, home to 1,500 retail and wholesale diamond companies and four diamond exchanges ... The Indian diamantaires started at the bottom end of the business, working on low-quality rough diamonds that existing big players werent interested in ... The Reserve Bank of India, meanwhile, is helping traders by allowing advance payment without any bank guarantee for procurement of rough diamonds from five... (Asia Times Online)
Change of heart Jan 24, 2008
As we get out of our parents cacoons, we may meet rough diamonds and there may be an attraction, except for a few unpolished things. So if the other party is open to better themselevs and open to new ideas i see changing somebody s value system being a possibilty. (Atlanta Journal-Constitution -- Living)
Harry Winston Diamond Corporation Announces New Appointments to the Board of Directors Jan 16, 2008
The company supplies rough diamonds to the global market from its 40% interest in the Diavik Diamond Mine, located in Canada's Northwest Territories. The company's retail division, Harry Winston, Inc., is a premier jewelry and timepiece retailer with salons in key locations including New York, Paris, London, Beijing, Tokyo and Beverly Hills. (PR Newswire)
De Beers to pay $295m penalty Jan 11, 2008
While De Beers, the world's largest supplier of rough diamonds, has agreed to pay the penalty, it has not acknowledged that it violated the law or did anything wrong. According to the Diamond Class Action Settlement (DCAS) website, the class action lawsuits were brought against De Beers by individuals and businesses that purchased loose diamonds and jewellery or other product containing gem diamonds in the US.. (iAfrica.com)
Some gems, some rough diamonds Dec 27, 2007
Welcome to The Sydney Morning Herald. iconic Icelandic singer Bjork contributed to the best live musical moment of 2007 with her gig at the Coachella festival in California. (Sydney Morning Herald -- Entertainment)
Charlie Brooker Dec 22, 2007
4 Just as certain poisonous fish have evolved "warning colours" alerting predators to the toxic nature of their flesh, [this person's] presence on a movie poster has become a handy visual signifier alerting cinema-goers to the potential substandard quality of the film, unless said cinema-goer is so insanely enamoured with gangsters, football hooligans and rough diamonds who swear a lot that they'll watch literally anything in which any of these elements feature, to the point where you could... (Guardian Unlimited)
Eurostar Diamonds International Selected As Sightholder of Diamond Trading Company International (DTC/De Beers) for Contract Period 2008-2011 Dec 17, 2007
5 million carats of top quality rough diamonds annually, employing 10,000 diamond experts in 7 cities. The company has vertically integrated diamond processing and polished diamond distribution operations in major diamond centres across the world and recently invested over $6 million in its latest diamond polishing plant, Eurostar Botswana. (Yahoo News -- Press Releases)
Ghana resolves to uphold Kimberly process Dec 15, 2007
She said because Ghana Consolidated Diamonds Limited was not producing rough diamonds, exports of its diamonds would mainly come from the small scale sector, which explained why proper regulation to ensure compliance with the KPCS was needed ... 14 milion carats of rough diamonds valued at 281. (Ghana Web, Ghana)
Harry Winston Diamond Corporation Announces Third Quarter Fiscal 2008 Results Dec 13, 2007
"In addition, our Harry Winston retail business, with an expanding worldwide network of salons, continues to focus on long-term growth and profits." Thomas J. O'Neill, President of Harry Winston Diamond Corporation and Chief Executive Officer of Harry Winston Inc., added, "During the quarter, we continued to focus on a calibrated growth strategy and to strengthen our core business. Although we faced a more challenging U.S. environment, we were pleased with our momentum in Asia and Europe for... (PR Newswire)
Tahera Diamond Says Teck Cominco Won't Increase Stake in Planned Offering Dec 12, 2007
Tiffany is forging closer ties with diamond producers, including Tahera and Target Resources Plc, to secure rough diamonds its gem cutters need to stock the company's stores. To contact the reporters on this story: Christopher Donville in Vancouver at ; Stewart Bailey in New York at. (Bloomberg -- Canada)
Phillies Rule 5 Draft: Who Could Be Lost? Dec 6, 2007
Phillies fans have to wonder if there are any rough diamonds that other teams could look to grab. to read the rest of this story. (Philadelphia, TheInsiders.com)
Harry Winston Diamond Corporation's Fiscal 2008 Third Quarter Results to be released Wednesday, December 12, 2007 Nov 30, 2007
The company supplies rough diamonds to the global market from its 40% interest in the Diavik Diamond Mine, located at Lac de Gras in Canada's Northwest Territories. The company's retail division, Harry Winston Inc., is a premier jewelry and timepiece retailer with salons in key locations including New York, Paris, London, Beijing, Tokyo and Beverly Hills. (PR Newswire)
Feb 20 World Day of Social Justice: UN Nov 27, 2007
In another resolution adopted on Monday, the Assembly linked illicit trade in rough diamonds to the fuelling of armed conflicts around the world and stressed the need for the widest possible participation in the Kimberley Process Certification Scheme. Loading. (India Times, India)
Global Luxury Diamond Sales Leader Nov 22, 2007
send advance pricing intelligence from its retail stores back to its Diavik mining operations, enabling the mine to demand more competitive prices for rough diamonds; and. leverage its relationship as a leading front-end supplier of rough diamonds to competing diamond polishers which makes Harry Winston a top-priority client for polished diamonds at the luxury retail backend. (Suite101.com)
Diamonds still an investor's best friend Nov 20, 2007
Last week in Antwerp, Graff bought one of the largest rough diamonds ever found for $10. 4 million which is expected to be transformed into a polished stone of more than 100 carats. (India Times)
Diamonds deals with super-rich outshine art sales Nov 20, 2007
Last week in Antwerp, Graff bought one of the largest rough diamonds ever found for $10. 4 million. (International Herald Tribune -- Business)
Harmon Snow: Chloe's Blood Diamond Nov 20, 2007
" ENDIAMAS BLOOD DIAMONDS Artisanal diamond miners in Angola called artisanos or garimpeiros are forced into illegal mining because Angolas mining security companies push people off their own land. While agriculture and commerce in the region require the direct authorization of the Provincial Governor, not one artisano has been granted a license for diamond exploration or subsistence agriculture. The legitimate government of Angola forces desperate people to resort to... (Zmag.org)
Aber Diamond changes name, seeks acquisitions Nov 19, 2007
The company's share of rough diamonds from Diavik must be sold to diamond polishers ... Yet as both a seller of rough diamonds and a retailer, the company does enjoy some advantages, the CEO said ... "Our job is to do the best we can selling rough diamonds. We do that a lot better because we've got an information base that comes from a retailer that is buying and selling polished diamonds. We're able to pull that information back into the rough diamond sales, so that has improved our rough... (Globe and Mail -- Business)
India's 'blood' diamondtrade under fire Nov 14, 2007
According to media reports, a sizeable number of rough diamonds entering Surat for cutting and polishing might in fact be blood diamonds ... An international campaign highlighting this prompted the United Nations to pass a resolution calling for the creation of an international certification scheme to break the link between the illicit trade in rough diamonds and mass human-rights abuses associated with armed conflict ... The Kimberly Process Certification Scheme was put in place in 2003 to... (Asia Times Online)
* Taiwan granted observer status in diamond initiative Nov 10, 2007
The KPCS, an initiative established in 2003 to certify the origin of rough diamonds from sources that are free of conflict, is aimed at stemming the flow of conflict diamonds -- diamonds that are used to finance wars. Currently, 47 countries and regions are participating in the voluntary system. (Taipei Times, Taiwan -- World)
Cte d'Ivoire: New Bid to Control Conflct Diamonds Nov 9, 2007
Since 2005 export of rough diamonds from Cote d'Ivoire has been banned by the United Nations due to violation of a ceasefire agreement between the Abidjan government and the New Forces guerrillas, which control the north of the country ... Participants agreed that there should be a new effort to improve controls on rough diamonds from Cote d'Ivoire, with particular attention paid to its neighbouring countries. (allAfrica.com)
Summit to cut conflict gem trade Nov 9, 2007
An estimated 80% of the world's rough diamonds are sold in Antwerp, just a few miles north of the Belgian capital ... Among the rules, members are only allowed to trade rough diamonds with other members, each shipment must have a certificate attached, and stones must be exported and imported in tamper-resistant containers ... Its members make up the vast majority of the market for rough diamonds. (BBC News -- Business)
Trans Hex hits low point Nov 7, 2007
Trans Hex recovers and sells rough diamonds and is involved in international exploration in Africa for diamond deposits. - Bloomberg. (Business Report, South Africa)
UN council extends sanctions on Ivory Coast Oct 30, 2007
An embargo on buying rough diamonds mined in Ivory Coast followed in 2005. Monday's resolution renewed the sanctions until Oct. 31, 2008. (AlertNet)
Belgian authorities confiscate blood diamonds Oct 28, 2007
Antwerp is a world diamond trading center where 80 percent of the world's rough diamonds and 50 percent of all cut diamonds are traded. In 2006 the Belgian diamond sector, mainly concentrated in Antwerp, had a turnover of 39 billion euros. (Xinhuanet, China)
Guard the sparkle, urges Mogae Oct 22, 2007
Botswana is the world's largest source of rough diamonds, accounting for about a quarter of the $13. 1 billion (R89. (Business Report, South Africa)
Diamond traders asked to help Africa Oct 18, 2007
A delivery of rough diamonds for cutting and polishing is inspected in Ramat Gan, Israel. Managing Director Gareth Penny said it was logical to help create stability in African democracies through job creation. (CNN -- World)
Unusual diamonds attracting top prices Oct 15, 2007
Diamond giant De Beers started offering rough diamonds two years ago as part of its Talisman Collection ... One in five pieces sold featured rough diamonds, said David Fardon, chief executive of Perth-based jewellery retailer Linneys ... " Rough diamonds remain a niche market at the moment, he said. "We have a variant in between (the cut and rough diamond), the Stern Star, which is organic in style and is about looking casually natural. (Sydney Morning Herald -- Business)
De Beers, state in diamond deal Oct 9, 2007
The state trader will start supplying its clients with rough diamonds for beneficiation in January. The minister promised that the strategy will include incentives for small- and medium-sized companies to enter the beneficiation industry, though she said they will not be monetary incentives. (iAfrica.com)
New trader hurts SA - diamond body Oct 1, 2007
Johannesburg - The government's attempts to spread the distribution of rough diamonds more equitably to boost small businesses and job creation has come under attack from the organisation representing new entrants. The "diamond industry was in crisis" and an estimated 2 000 jobs at small black diamond cutters were at risk because supplies of rough diamonds had been cut off, Ernest Malakoane, chairman of the United Diamond Association of SA (Udasa), told Business Report last week ... He added... (Business Report, South Africa)
As celebrity dance shows take off, broadcasts of professionals fall away Sep 23, 2007
"We are really looking for the rough diamonds who are ready to be polished and made into this great group," said "Dancing With the Stars" judge Bruno Tonioli to a British newspaper, speaking of the 2008 show "Dance War.". But what about the polished diamonds. (Boston Globe)
SA diamond levy bill passed Sep 21, 2007
South African lawmakers approved two bills on Thursday that seek to retain more of the rough diamonds mined in the country for the local polishing and cutting industry. The legislation provides for the imposition of a five percent export levy on unpolished diamonds, and seeks to compel producers to sell up to 40 percent of their diamonds to the State Diamond Trader at market value. (iAfrica.com)
Diamonds Took Top Style Honors at the 59th Annual Emmy(R) Awards Sep 17, 2007
56 total carats -- Michelle Pfeiffer -- Neil Lane - Diamond chandelier earrings -- Patricia Arquette -- Lorraine Schwartz -- Diamond drop earrings, set in platinum -- Queen Latifah -- Diamond in the Rough -- Diamond pendant earrings, with two rough diamonds, 17 ... 41 carat rough octahedron diamond accented with over 15 carats of pave diamonds; diamond pendant earrings, with two rough diamonds, 17. (PR Newswire)
South Africa: Diamond Giant De Beers Denies Dodging Duties Sep 13, 2007
Mining giant De Beers yesterday vigorously defended itself in Parliament against suggestions that it evaded paying about R1bn in export duty by allegedly exporting a stockpile of rough diamonds to London in 1992 without the necessary authorisation. The company's directors were called before Parliament's standing committee on public accounts (Scopa) yesterday to answer allegations that it exported 20-million carats of uncut diamonds worth $822m without an exemption certificate just before the... (allAfrica.com)
Achievements for Sept. 2, 2007 Sep 5, 2007
In addition, through agreements with other diamond-producing countries, DeBeers sorts, values and sells approximately 50% of the world annual production or rough diamonds ... DeBeers sells its rough diamonds to some 90 clients throughout the world, all of whom have been carefully selected for their expertise and craftsmanship. (La Crosse Tribune, WI)
If diamond pans out, it would break records Sep 2, 2007
A: We take rough diamonds, cut them and then we sell them to jewelry stores and private individuals ... There is something that you read all about called the Kimberly Process, which is actually a process for sorting through diamonds where they were found. (Houston Chronicle)
Mystery surrounds 'diamond' as big as soccer ball Aug 29, 2007
A greenish tinge is a quality found in some rough diamonds. The possible diamond is described as being about 7000 carats, making it the size of a soccer ball. (Mail & Guardian Online)
