Pandora is embarking on a major streamlining process aimed at speeding up its ability to act on customer feedback, the jeweler said Wednesday. The Danish company will close its three regional offices — management centers that oversee stores in specific parts of the world — to eliminate a layer between upper management and customers, it … Read more
De Beers’ rough-diamond sales declined 28% year on year to $355 million in February as the coronavirus hit demand. Many sightholders took up the miner’s offer to delay buying goods destined for China, sources in the rough market told Rapaport News. The company let clients reject certain 1- to 2-carat rough diamonds and reschedule those purchases … Read more
Luanda, Mar 4 (Prensa Latina) Popular claims in southern Angola warned of the illegal extraction of diamonds and other natural resources in localities of Cuando Cubango, local press reported on Wednesday.According to the Jornal de Angola daily, the warnings came from the municipality of Mavinga, where the population observed a group of foreigners in clandestine … Read more
Gibb River Diamonds has completed a review of the mothballed Ellendale diamond mine in Western Australia that will help it edge closer to a proposed restart. The independent appraisal, which was completed by which was completed by Independent Diamond Valuers International (IDVI) valued gems from the Ellendale 9 East Lobe at $US750 ($1120) per carat. This … Read more
Russia’s Alrosa the world’s top diamond miner by volume, is betting on a new strategy to boost its sales amid an industry-wide slowdown that has hit small companies the hardest. The state-owned company is now selling naturally occurring fluorescent diamonds mixed with others. At the same time, it’s holding talks with global jewellery retailers about jointly marketing … Read more
De Beers plans to split sightholders into three categories and offer each group a more bespoke selection of rough diamonds as part of changes to its sales system. Manufacturers, dealers and retailers will sign specific supply contracts designed for the “broad needs” of each business model, a De Beers spokesperson told Rapaport News Thursday. The arrangement will … Read more
De Beers has allowed clients to forgo buying certain rough diamonds at this week’s sight, as the coronavirus outbreak has raised concerns about a polished glut. The miner has let sightholders defer purchases of goods that produce the types of polished popular in the Chinese retail market, a source at the sight told Rapaport News Wednesday. The … Read more
Authorities in Angola have seized 6,579 carats of rough diamonds in a crackdown on illegal mining and immigration. Nineteen cars and $275,000 in cash were also confiscated, according to the government-run Angop news agency. Operation Transparency was aimed at more than 700 small diamond prospectors in the country. Two thirds were found not to meet … Read more
De Beers and its clients expect a slowdown in rough-diamond sales at the company’s Botswana sight this week amid concerns about the coronavirus. “It’s fair to say there will be an impact on rough demand in the short term,” De Beers chief financial officer Nimesh Patel said Thursday in an interview with Rapaport News. “I’d expect … Read more
Replacing a diamond ring can be an expensive prospect, but that’s the reality for the majority of Australians who don’t insure their heirlooms. Diamond engagement rings are a big deal for many Australians, but very few are protected from would-be thieves. Insuring diamond rings is expensive, which is why 44 per cent of Australians’ diamond … Read more