GIA’s laboratory take-in facility and education location in Dubai, a branch of GIA India Laboratory Pvt. Ltd., will close by Dec. 31, 2019. The lab take-in facility is no longer accepting stones for submission. GIA continually evaluates all of our global locations. The difficult decision to close our Dubai operation to align GIA’s resources with … Read more
ABN Amro will implement changes to its guidelines for lending to the diamond industry in 2020, reasoning that the trade has become more efficient and now requires less credit. The midstream’s reliance on working capital funding should have diminished given it has streamlined its production and sales processes, a spokesperson said in an email to Rapaport … Read more
De Beers has reduced its production outlook for next year and beyond amid uncertainty about the health of the diamond market. The miner now expects to recover between 32 million and 34 million carats in 2020, compared to its earlier outlook of 33 million to 35 million carats, parent company Anglo American said Tuesday. Its … Read more
Anglo American has cut its production forecasts for coal, iron ore and diamonds for the next two years, but is bullish on the outlook for copper and palladium, it said in an update for investors on Tuesday. “We are building on the complete transformation of both the quality of our portfolio and our performance over … Read more
Tiffany & Co. has opened a one-month holiday pop-up shop in New York featuring its men’s collection. The store, which will be open from December 6 to January 6, will carry items from the jeweler’s Tiffany Men’s collection, including accessories, barware, home objects and games, the company said last week. The retailer will also offer … Read more
liquidity crisis among India’s polishers
Sarine Technologies has entered the running to acquire HRD Antwerp, according to two sources close to the sale process. The Israel-based diamond-technology company has registered its interest in buying the Belgian laboratory, as have two previous heads of HRD, the two anonymous sources told Rapaport News. Peter Meeus, who ran the organization between 1999 and … Read more
