Antwerp diamond sellers see sales, prices crash Mar 14, 2009
But the city which handles about 80 per cent of all rough diamonds and more than half of all cut stones for an annual turnover of $43-billion, is exposed ... The collapse is amplified back along the chain, Mr. Mehta said, with demand for cut stones predicted to fall by as much as 30 per cent and requirements for rough diamonds likely to drop by up to 60 per cent in the year from October ... The biggest firm in the industry, De Beers which sold about two-thirds of all rough diamonds at the turn... (Globe and Mail -- Business)
Botswana: Diamonds Don't Guarantee Jobs Forever Mar 13, 2009
Diamond mining has fuelled the country's development since independence from Britain in 1966 and is still a pillar of its economy, but in recent months the price of rough diamonds has fallen by as much as 20 percent and could, according to some industry observers, fall by a further 60 percent. Rebecca Oitsile, chairperson of Boteti's Village Development Committee (VDC), told a recent meeting of the residents' organisation that many villagers relied on renting accommodation to mine workers. (allAfrica.com)
Surat woes: Diamond jobs not forever Mar 9, 2009
During the boom years, an estimated 800,000 workers, mostly from the Saurashtra region of western Gujarat state, spent 10-12 hours a day in thousands of factories and workshops, cutting and polishing tiny rough diamonds for export. Now mostly silent and shuttered, the 00004000 factories are victims of a global financial crisis that has hit demand for the gem that defined this city for decades. (India Times)
Diamond sector may sparkle again Mar 7, 2009
Banks may also explore the possibility of financing procurement of rough diamonds from reputed agencies for cutting and polishing. In addition to helping the business, the taskforce has also laid special emphasis on providing measures to assist around 4. (India Times)
A De Beers nightmare: The diamond 'overhang' Feb 24, 2009
Responding to the global recession, the De Beers diamond cartel has cut back production at its South African mines and reduced the price of its rough diamonds between 15 and 20 percent. Even so, industry sources in South Africa are now estimating that diamond prices could fall another "59-63 percent." But the real fear of the diamond cartel is not just that retail prices will decline - it has managed that problem before - but that the public will begin to sell its hoard of diamonds, or what is... (International Herald Tribune)
Botswana: Global Crisis Hammers Diamond Industry Feb 23, 2009
Global demand for rough diamonds, which are the mainstay of the economy, is expected to drop by some 60 percent this year and the government has already estimated that revenues will be cut by over 50 percent ... "This may take 12-14 months. In that period, demand for rough diamonds will plunge by some 60 percent. This is inevitable. However, miners like DiamonEx - if they survive - are not losing revenues; they are merely delaying income to better times. "Unfortunately, in this restructuring and... (allAfrica.com)
India's gems, jewellery exports up by 7 pc Feb 17, 2009
The export of rough diamonds also increased by a whopping 67 ... The net imports of rough diamonds fell by 4. (Hindu)
Nameless ad mocking Rahul parrots Modis lines Feb 15, 2009
Ads By Google The Gujarat press information department release on Thursday quoted the CM as saying: They rush to Gujarat to shed crocodile tears the Union should provide rough diamonds to diamond industries through Hindustan Diamonds, so that the employment of the diamond workers are sustained. . (Indian Express)
Fast Facts: Israel Feb 10, 2009
Imports - commodities: raw materials, military equipment, investment goods, rough diamonds, fuels, grain, consumer goods. Imports - partners: US 13. (CBS News -- World)
Bargain bling Feb 10, 2009
De Beers, the largest producer of diamonds in the world, said last month it will slash production in the wake of poor holiday sales, cutting the amount of rough diamonds made available to customers by up to 50 per cent over the next few months. Waning demand has caused rough diamond prices to fall in recent months, and they could plummet an additional 30 per cent this year, according to a report by RBC Capital Markets analyst Des Kilalea. (Globe and Mail)
Rough Diamonds Feb 8, 2009
The Sydney Morning Herald: national, world, business, entertainment, sport and technology news from Australia's leading newspaper. Quirks work the Born Ruffians are pop's missing link. (Sydney Morning Herald -- Entertainment)
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 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)
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)
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)
Aber Diamond Corporation - Diavik Project Update Aug 7, 2007
The Company supplies rough diamonds to the global market through its 40% ownership in the Diavik Diamond Mine and owns one of the world's premier retailers of diamond jewelry, Harry Winston. SEDAR: 00003786E. (Canada Newswire)
Anglo American to sell road unit Aug 5, 2007
Under the deal, it stopped buying rough diamonds from Russian firm Alrosa by 2009. Cost pressures in some divisions, such as gold, and strikes over pay also weighed on Anglo's earnings. (BBC News)
Trade showdown Aug 4, 2007
39-billion in goods to Belgium in 2006, including rough diamonds, nickel, linseed oil, zinc and durum wheat. . (Globe and Mail -- Business)
Liberia: Diamond Ban Lifted Jul 31, 2007
If you are working in the pit, ensure your claim is licensed; if you are a broker, ensure that the diamonds you buy are from license claims; if you are a dealer, ensure that you buy it from license brokers," he warned.Minister Shannon indicated that since the UN Security Council announced the lifting of the sanctions on Liberian diamonds in late April, paving the way for one of Liberia's key resources to play part in kick-starting the country's badly bruised economy, his ministry has been... (allAfrica.com)
Liberia begins issuing diamond licenses after ban Jul 31, 2007
Trade in rough diamonds from river beds and mud pits in Liberia and neighbouring Sierra Leone fuelled intertwined wars in the 1990s that were among the most brutal in modern African history, killing a quarter of a million people. Peace has since returned to both countries and the government of Liberian President Ellen Johnson-Sirleaf, elected in 2005, has set up offices to ensure diamonds are certified under the "Kimberley Process", an industry-led scheme designed to prevent illicit gem sales... (AlertNet)
Fighting diamond smuggling in Africa Jul 30, 2007
Last year, official exports of rough diamonds were worth $136 million, but as the war raged in 1999 the figure was a paltry $1. 2 million, leading experts to estimate that rebels in control of the mines during the war were smuggling up to $125 million of diamonds a year. (Christian Science Monitor -- World)
Business Briefs Jul 28, 2007
The company, which controls about 40% of the world's rough diamonds, said it earned $350 million in the first half, down from $520 million in the same period a year earlier. Sales for the six months fell to $3. (Fresno Bee -- Business)
Unearthing Hidden Powers Jul 28, 2007
A few years back, the famous firm was sitting atop a $5 billion stockpile of rough diamonds, yet its profits were sinking. De Beers looked hard at its business, and found it had deeper relationships with consumers than it realized, and more knowledge about its consumers that it could put to work. (Forbes)
Diamond leader likely to spurn Russian deal Jul 23, 2007
The court last Wednesday struck down a decision by the European Commission designed to stop De Beers buying rough diamonds from Alrosa by 2009 ... The opportunity to lock in prices is likely to be attractive to the sector's value chain, in which the $14 billion value of rough diamonds skyrockets to $62 billion when diamond jewellery is sold in retail shops. (Business Report, South Africa)
Customs agents seize smuggled diamonds in Anchorage Jul 19, 2007
The largest shipment contained more than $300,000 worth of rough diamonds, officials said. Shipments were not certified through the Kimberley Process Certification Scheme, an international program designed to track diamonds and certify their origins. (Anchorage Daily News)
Schneider wins damages for EU veto of Legrand deal Jul 12, 2007
De Beers had agreed to stop buying rough diamonds from Alrosa to close an EU antitrust investigation, according to the commission. . (International Herald Tribune -- Business Asia)
