De Beers has called off this week’s sight in Botswana, citing restrictions resulting from measures to contain the coronavirus. Lockdowns in Botswana, South Africa and India are prohibiting sightholders from traveling and preventing the shipment of merchandise to clients’ international operations, De Beers said in a statement Monday. The company is letting sightholders defer 100% … Read more
The entire polishing industry in Surat has shut until March 31 after Indian authorities introduced tight restrictions to slow the spread of the coronavirus. Activities stopped on Tuesday in line with a lockdown enforced by the Gujarat state government. The Bharat Diamond Bourse in Mumbai also closed from Friday until the end of the month … Read more
Michael Hill will temporarily close all its Canadian stores amid the coronavirus pandemic, while locations in Australia and New Zealand currently remain open. The jeweler’s Canadian stores are set to shut for a two-week period, but the company will reevaluate and may lift or extend the shutdown as necessary based on the health situation, it … Read more
A growing number of US retailers, including Tiffany & Co., are temporarily shuttering all locations across North America in an effort to stem the coronavirus spread. “Effective immediately, we’re temporarily closing all Tiffany stores in the US and Canada, as well as many other locations globally, to protect our teams, clients and communities,” the jeweler … Read more
Sarine Technologies has launched a new platform enabling manufacturers to tap its automated grading systems and issue a report in-house to support the needs of jewelers. The company this week introduced its eGrading innovation via a video campaign on YouTube claiming the concept would “change diamond grading forever.” It allows manufacturers to self-execute third-party grading … Read more
Commenting on the results, Clifford Elphick, CEO of Gem Diamonds, says: “Gem Diamonds delivered solid operational results which together with the targeted gains of the Business Transformation programme and continued emphasis on cost controls, confirmed our status as one of the lowest-cost producers in the industry.” “The operational results were characterised by the achievement of … Read more
Lucapa Diamond Company has made some significant progress in its search for the kimberlite source of the high-value alluvial diamonds being mined at the Lulo diamond project in Angola. Following highly-encouraging tributary sampling results in February 2020, the project Lulo partners commenced a drilling programme in the Canguige catchment area targeting five kimberlite pipes considered … Read more
Gem Diamonds has recovered five large, high-quality stones at its Letšeng mine in Lesotho, continuing a strong first quarter for the company’s production. The company unearthed four white diamonds weighing 88, 56, 53 and 33 carats between February 28 and March 3. It also found a “top-quality” 13-carat pink diamond. Those are in addition to … Read more
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