Yoram Dvash Elected Acting President of WFDB

“It is my fervent wish that the entire diamond industry across the world works together unitedly so that we can be prepared for a business life after COVID-19.” - Yoram Dvash

Yoram Dvash, President of the Israel Diamond Bourse, was yesterday unanimously elected as the Acting President of the World Federation of Diamond Bourses (WFDB).

“The diamond industry like all other industries is going through a very difficult time due to the coronavirus pandemic that has struck so much devastation in human, as well as business terms, across the world,” said Yoram Dvash, the newly elected Acting President. “In this situation it is imperative that the diamond industry across the world be united in the goal to restore it to its glory days, once the pandemic has receded and some semblance of normalcy returns to the globe.”

#NewMomGift of natural diamonds!

Sriranjani & Amith celebrate the birth of

-their child with natural diamonds, #NewMomGift!

Continuing with their industry initiative to create positive conversations around natural diamonds, the Diamond Producers Association (DPA) has gone regional in their latest communication for their ‘New Mom Gift’ campaign.

Traffic Necklace, linear placement!

Harry Winston’s wondrous garden is in full bloom with fine jewelry masterpieces that recall nature’s most magnificent flowers through luminous diamonds and bright colored gemstones.

The House's wondrous Winston Garden is in full bloom with fine jewelry masterpieces that recall nature's most magnificent flowers through luminous diamonds and bright colored gemstones. Awaken your senses this spring with the enchanting beauty of a Harry Winston bloom designed to be worn, admired and enjoyed forever.

DPA directing small and large business amid Covid-19

Recently Richa Singh, Managing Director-India, DPA replied our media questions amid Covid-19.  She is focusing mitigating the disruption of Covid-19 & also directing small & large players of our Industry & Trade. Let’s move to Q & A:

1. What role has DPA performed during this pandemic Covid-19?

In order to show our support to the trade community we have introduced campaigns in various markets worldwide. These initiatives will be focused on skill building, keeping the trade engaged and encouraging consumers to support local jewellers. Its goal is to minimise the damage and disruption caused by Covid-19 by directing small and large business owners to relevant resources, the focus being on e-learning resources and trade-specific opportunities.

Covid-19 disruptions impact on Indian gold

Mukesh Kumar, Market Intelligence Group, World Gold Council expressed his views on ‘Supply-chain disruptions impact on Indian gold market.’ According to its summary, with supply-chain disruptions, the gold price discount in the Indian market narrowed to US$4-5/oz for the week ending 20 March, from an average discount of US$31/oz in the previous week!

Daily gold trading volumes on India’s leading commodity exchange Multi Commodity Exchange of India (MCX) fell to a three-month low of 3.6t by end of March - just 17% of the average daily trading volume of 21.2t in the month. Gold recycling could jump once the market opens after the lockdown, discount in the local market narrowed due to supply side disruptions!

Regular interactive by ITAT begins

In wake of lockdown following Covid-19 pandemic, Income Tax Appellate Tribunal begins regular interactive sessions! The Income Tax Appellate Tribunal (ITAT) has commenced today a series of Video Conferences involving regular interactive sessions to productively utilise the time available during the 21-day lockdown to tackle the Covid-19 pandemic.

ITAT President, Mr. Justice P.P. Bhatt, in a communication to Vice Presidents and Members of the Tribunal, said such meetings can be utilized for exchanging views and formulating strategies as to how to improve the rate of disposal of cases as well as quality of judicial orders.

Measures in Response to Covid-19

Scorpio Gold Corporation announces voluntary reduction in wages and salaries throughout the company during the Covid-19 pandemic and until a major financing is achieved to build the Mineral Ridge Process Facility. Effective April 1st, 2020 with the full co-operation and understanding of the Company’s personnel, 1: US employees voluntarily agreed to salary and wage reduction of 20%.

2: CEO, CFO and Corporate Secretary voluntarily cut their salaries by 50%; and 3: Chairman and Directors agreed to waive all monetary compensation to zero. The Company will exercise other cash conservation measures wherever discretionary funding can be eliminated or postponed. The overall annual reduction in costs will be approximately Cdn $1.6m and will remain in place until the Company is financed.

Directional Drilling: Strategies and technologies!

As mining companies go further afield and explore under cover to replace diminished reserves, deep directional drilling on existing sites is increasingly becoming part of their campaigns. There is plenty to consider before embarking on a drilling program, including traps in chasing the cheapest price if it fails to deliver, by not hitting the target.

IMDEX Global Lead, Directional Drilling, Kelvin Brown and General Manager, Product Development, Dr Michelle Carey discussed the issues in a recent webinar, Directional Drilling: Strategies and technologies to stay on target and not blow your budget. Dr Carey said statistics revealed that directional drilling was increasing and is estimated to grow to around 20 per cent of a drilling program.

Animalier collection! Animals that inspired!

When the Animalier collection was created in the early 1980s, it exploded just like all of Italy was exploding, in a period of creative flurry, full of opportunities. It was the moment to be bold! Those were the years in which fashion was telling stories about the world and faraway places using fabric; why couldn’t jewelry do the same using gold? This was the challenge that Roberto Coin decided to accept.

Since then, Roberto Coin can often be seen at the door of his atelier, just back from one of his trips, carrying sketches of the animals that inspired him the most: from familiar barnyard animals to exotic beasts. Each animal in the collection is considered a guardian of the earth, a tribute to the respect for nature to be celebrated both with beauty and with the responsible ethics that are reflected in the choice of the precious stones and gold that make up every piece.

India supports SEZ-exporters to soften hardship

Update 2: Department of Commerce has provided a number of Relaxations /Extensions of various

Compliance Deadlines etc to address Corona Pandemic Related Hardships of Exporters!