Synthetic diamonds have penetrated the world’s biggest diamond cutting and polishing center in Surat, becoming a major cause of concern for the industry leaders.
Educating diamond manufacturers and traders about the threat that synthetic diamonds pose to the diamond industry. As well as the importance of the, disclosure, differentiation and detection. Is of paramount importance for the Gems and Jewellery Export Promotion Council (GJEPC).
The objective is to create awareness among the diamond manufacturers, especially the diamond traders about the lab grown diamonds.
Synthetic diamonds are becoming increasingly popular, as aside from the growth structure of natural origin they are exactly like natural diamonds.
Police in Brussels report that a group of masked, armed men cut through a security fence at the Brussels airport on Monday night, drove their vehicles onto the tarmac and took the diamonds from a security van waiting to load the cargo onto a plane bound for Switzerland.
Authorities say the robbers completed their theft within minutes, with no shots fired. The thieves have escaped with a cache of diamonds worth at least $50 million, in a daring airport heist. Police found the thieves burned-out vehicle near the airport.
The Antwerp World Diamond Centre confirmed the value of the stolen diamonds, telling the French news agency it is one of the biggest diamond thefts of all time.
Alrosa Russian diamond miner recovered a 145.44 ct. diamond in the Yubileynaya Diamond Pipe in the Yakutia region of Russia in January.
The 145.44 ct octahedron shape stone may fetch $1 million when put up on tender or auction according to experts at Alrosa’s diamond sorting centre.
Rough buyers are competing for goods, this has driven up prices from Diamond Trading Company. Sight holders said that the assortment in sight boxes were better for the price.
The DTC first Sight of the year is being held this week, with sight holders reporting premiums. DTC boxes have sold to the trade at a 5 % + premiums.
The reason given for the robust demand for rough.is a reported shortage of better quality polished.
Demand for DTC goods has been low and premiums were either low single digits or non-existent. This is a welcome turnaround from the recent slow market.
DTC has expressed an interest in keeping prices in the market high.
The US$250 million De Beers has already spent on prospecting will yield a diamond deposit, the company is confident that it will find a diamond deposit in Angola.
De Beers has already found diamonds at the Mulepe concession, in Lunda Norte province; De Beers has a 49 percent share, Endiama hasthe remaining 51 percent.
In 2001 after its right to sell diamonds worth US$800 million was revoked, The De Beers group left Angola but returned in 2005.
According to the Kimberley Process, Angola sold 8.33 million carats of diamonds worth US$1.16 billion in 2011.
Diamantaires in the world’s biggest diamond cutting and polishing centre in Surat have been warned to be become more vigilant following the warning from the KPC Scheme regarding the possible smuggled diamonds from rebel control areas in the Central African Republic.
According to KP letter, the residents of CAR’s capital city Bangui have started feeling, fearing a major battle over control of the city. Rebels have even rejected an offer to form a unity government there.
Supplier of choice (SOC) the De Beers Group has announce that the eligible Sightholders and non-sightholders that have demonstrated sufficient demand through De Beers’ for rough diamond auctions will be invited to apply for term supply for the remainder of the 2012 to 2015 SOC contract period.
Tiffany & Co. has reported Q3 worldwide net sales of $853 million, up 4 % year on year.
Tiffany & Co continues to maintain a cautious near-term outlook about global economic conditions, but, it expects results to improve during the holiday season.
Tiffany & Co annual net earnings are expected to be $409-$435 million. Tiffany has lowered its sales expectations to 5-6 % versus.
Japan is the best performing market with total sales of $147 million.
Blue Nile’s sales rose 20 % year on year for the third quarter of 2012. Turn over for the third quarter was $89.8 million.
4 quarter sales are expected between $140 million and $153 million, compared with $112 million in the fourth quarter of 2011.
We are excited to report solid results in the third quarter, with accelerating revenue growth and expanding earnings per share, Said Blue Nile.
With continued steady execution of our strategy coupled with exciting product offerings for the holiday season, we believe we are well positioned to achieve our goals for 2012.
The stones will be grown using the chemical vapour deposition (CVD) process at a facility located of Washington, D.C., Washington Diamonds Corp has been able to grow stones as large as 2.30 carats.
The company plans to produce stones of one carat or slightly larger in size, Concentrating in colours ranging from G to J colour and VS1 to SI2 clarity.
Gemesis a well-known Laboratory grown diamond producing company began selling colourless diamonds online direct to consumers this year. Gemesis also once had diamond growing facility in Sarasota. It now produced stones overseas.
Late last year Scio Diamond Technology bought the assets of Apollo Diamond a Boston based synthetic diamond Production Company, and has plans for a jewellery division that would include colourless synthetic (CVD) stones.
