NEWS
Recent Auctions Underscore Colored Diamond Interest
Toronto: Diamonds, especially the fancy
colored stones – continue to hold investors in thrall, and auction houses are
ensuring the fascination endures with sales featuring some stunning selections.
China’s Jewellery Industry Adapts to Market Changes
Beijing: China’s gold jewellery industry is
“keen and determined” to adapt to challenges arising from macroeconomic
uncertainties and changes in consumer preferences, according to the World Gold
Council (WGC).
De Beers Pioneers Research Programme on Carbon-Neutral Mining
Gaborone: De Beers Group announced it is
leading a ground-breaking research project that aims to deliver carbon-neutral
mining at some of the company’s operations in as few as five years.
WDC Applauds the Start of KP Reform Cycle
Perth: World Diamond Council (WDC) members
representing every sector of the diamond industry, joined together on May 1-4
at the 2017 Kimberley Process Intersessional Meeting in Perth. The focus of
this year’s meeting was the start of the Kimberley Process Certification Scheme
(KPCS) review cycle in order to strengthen the Kimberley Process.
Organizers Optimistic Ahead of Carat+ Opening
Antwerp: The company behind next week’s
Carat+ event is hopeful the fair will fill a gap in the trade-show scene as the
world’s first purely diamond-focused international exhibition.
Gem Diamonds High-Quality 80ct. Diamond
London: Gem Diamonds has discovered an
80-carat rough stone that it has described as one of the highest-quality
diamonds ever found at its Letšeng mine in Lesotho.
The D-color, type-II diamond is relatively
small compared with some of the huge stones the mine has produced over the
years, including a 114-carat gem the company extracted last month. However, few
previous discoveries match this one for quality, the company said Thursday.
The stone “is entirely undamaged, making
this a significant recovery,” stated Gem Diamonds CEO Clifford Elphick.
De Beers Group Returns $5 Bln to Partners in 2016
Gaborone: De Beers Group increased returns
to governments, communities, supply chain partners and its joint venture
partners by 26 per cent to US$5 billion in 2016, according to its latest Report
to Society, published today.
Gold Demand Slips from Last Year’s Record Q1
M Global gold demand in Q1 2017 was 1,034 tonnes (t), a decline of 18% compared to the record Q1 in 2016, according to the World Gold Council’s latest Gold Demand Trends report. Inflows into Exchange Traded Funds(ETFs) totalled 109t which, although solid, were nonetheless a fraction of last year’s near-record inflows. Slower central bank demand also contributed to the weakness. Bar and coin investment, however, was healthy, at 290t, an increase of 9% year-on-year, while demand firmed slightly in both the jewellery and technology sectors.
M Global gold demand in Q1 2017 was 1,034 tonnes (t), a decline of 18% compared to the record Q1 in 2016, according to the World Gold Council’s latest Gold Demand Trends report. Inflows into Exchange Traded Funds(ETFs) totalled 109t which, although solid, were nonetheless a fraction of last year’s near-record inflows. Slower central bank demand also contributed to the weakness. Bar and coin investment, however, was healthy, at 290t, an increase of 9% year-on-year, while demand firmed slightly in both the jewellery and technology sectors.
Lucara Diamond's Revenues Fall 50% in Q1
Vancouver: Lucara Diamond Corp. has
declared first quarter revenues of $26.1 million, or $405 per carat which
represents nearly a 50% drop from the $50.6 million earned at $649 per carat in
Q1 2016. The company explains the results as follows: "The decrease in
revenues in Q1 2017 compared to Q1 2016 was due to a lower volume of carats
being sold and a decrease in the carat weight of specials sold. A larger volume
of +10.8ct specials were sold in Q1 2016 (6,936 carats) compared to Q1 2017
(2,379 carats), which reflected the above average recoveries of specials during
Q4 2015.
ZCDC Suffers Marange Diamond Mining Setback
Harare: The Zimbabwe Consolidated Diamond
Company (ZCDC) was recently barred by the High Court from looting diamond ore
which belongs to Mbada Diamonds, which was booted out of Marange with other
miners last year, according to local media reports.