The 35th World Diamond Congress has taken strong exception to the Diamond Source Warranty Protocol, a chain of custody initiative announced by a group of American organizations.
Addressing a press conference at the conclusion of the congress on Wednesday, Earnest Blom and Maxim Shkadov, the new Presidents of the World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association (IDMA) respectively, said their organizations would enter into “immediate and intense” dialogue with their American colleagues to resolve this matter. The initiative was announced by the Jewellers of America (JA), the Jewellers Vigilance Committee (JVC) and the Diamond Manufacturers and Importers Association (DMIA). Blom said the congress had not come up with a resolution on the idea of imposing a levy on rough sales by miners to fund generic promotions. However, the idea was going to be taken forward. “Both the WFDB and IDMA will talk to the producers to discuss the feasibility of this,” he said. “We don’t exist in isolation. If they don’t have a robust mining business, we won’t have raw material supply. If we aren’t able to promote or product, they won’t have a market to sell to,” he added. He noted that the WFDB’s World Diamond Mark initiative, which was still in the process of being rolled out, offered the potential to generate substantial funds for the industry, which could go towards promotions. “Whichever idea works will be followed up on,” Blom said. Both organizations expressed joint appreciation at the efforts by the Chair of the Kimberley Process to consult all industry stakeholders on the new definition for conflict diamonds and to assure that any decisions made are reached under complete, industry-wide consensus. Blom said the diamond industry was convinced that there was a definite place in the market for synthetics, but that they had to be clearly and completely disclosed. The congress also discussed measures to keep the diamond industry sustainable – primarily ensuring that it was made attractive enough for the new generations to enter into as also attracting new talent. Source: IDEX
De Beers rough diamonds sight is estimated to be $750 million USD, The DTC sold the October sight, and maintained relatively stable pricing.
Some previously deferred sights were also taken up by the sightholders. This made the October sight the most valuable De Beers sale so far in 2012. DTC also had very few refusals of Sight goods this month. Some DTC boxes were trading on the secondary market at low single percentage premiums, or even at discounts.
Blue Nile the online jewellery behemoth has added the Spanish and French language and currency options to its global website.
This enables customers around the world to shop at Blue Nile in six different languages, including traditional and Simplified Chinese and Japanese. BlueNile is Constantly improving service and the online shopping experience for international customers and it is one of BlueNile’s primary goals.
Archduke Joseph Diamond will be offered at auction in Geneva in November 2012.
One of the most famous diamonds in the world, the impressive 76.02 carat. D colour, internally flawless diamond. Traces its origin is to Golconda mines in India where some of the best diamond crystals are found.
The Diamond is expected to fetch well over $15 million when it hits the auction block.
Botswana now boasts diamond production, cutting and polishing, jewellery manufacturing and finally rough diamond trade.
The bourse will provide a platform for producers, brokers, valuers and traders, with new tenants having already taken up residence in the building, adding to the diamond industry chain.
This will make Botswana a vibrant market for diamonds. It is expected that government will market its allocation of Debswana production through the new bourse.
The DTP is a private initiative funded by Safdico, a Diamond Trading Company.
The Indian diamond industry’s liquidity crisis – said to be the worst in 50 years – is claimed to be self made as big and medium diamond firms have diverted $5.4 billion in bank finance for diamond operations into real estate, according to a report published in The Times of India.
Some diamond firms reportedly used finance obtained from several high-street lenders to dress up past losses on their books.
With real estate prices now falling, these firms are now caught in a crunch. The situation is compounded by speculative buying of rough diamonds over the past two years. Rough diamond prices also declining.
De Beers Diamond trading Company (DTC) reduced sight prices by an estimated average of 8 % at its week. The sights total value is estimated at $580 million USD and all site boxes were taken.
Price were down across the range with reductions of up to 17 % for better-quality goods.
DTC is said that rough prices have now in line with polished, which have since stabilized.
DTC sales have declined by 23 % year on year to about $4 billion.
Lonrho Mining and joint venture partner Endiama Diamond Company working in the Lulo Diamond Concession located near the Cuango River in northeastern Angola, have recovered Diamonds from the valley of the Cacuilo River within the Lulo Concession.
The larger of the two stones is a 131.5-carat diamond, the biggest diamond recovered since it began treating alluvial gravels at the Lulo project in 2010.
The recovery of the two diamonds comes as Lonrho prepares for the drilling of 61 prioritized kimberlitic targets at the 3000-square-kilometer Lulo Concession.
JewelleryNet Asia will hold the free seminars on digital marketing workshops at the upcoming September Hong Kong Jewellery Fair.
A similar seminar was held during the June Hong Kong Jewellery and Gem Show , Based on the success, organizers UBM Asia decided to repeat the venture. The workshops will take place at the fairground in the morning before opening.
The presentations include know-how and practical tips as well as statistics and data taken from JewelleryNet’s original research and analytics.
Many jewellery professionals have difficulties in keeping up with the fast developments online. But using digital channels as tools to generate new leads and enhancing existing business jewellers can generate a direct advantage.
With the workshops, we intend to break down the challenges of the online environment into simple steps.
The Hong Kong diamond industry has announced its impressions of a new fast and efficient method of manufacturing synthetic diamonds. The CVD process has become more common in recent years.
Chemical vapour deposition (CVD) created diamonds were submitted to the laboratory for expert analysis. All of the CVD synthetic round brilliant polished diamonds submitted to the Laboratory last, had a colour and appearance comparable to top quality natural diamonds.
Though some weak graining and tiny pinpoints were found in the stones, Graders observed no fractures or inclusions.
These qualities earned the stones clarity grades of anywhere from VVS1 to VVS2, with a single stone graded as a VS1.
None of them responded significantly to long-wave ultra-violet radiation.
All IDC Laboratories are able to identify treated and Synthetic stones.
If your diamond is uncertified, or has been graded without being tested. Contact the DCLA for advice.
