NEWS
Zimbabwe’s Diamond Industry Needs Reviving
Harare: The decision to consolidate diamond
mining killed the industry in Zimbabwe and government is currently re-engaging
the Chinese companies that were operating in Marange to reach an amicable
settlement, said Finance Minister, Patrick Chinamasa while addressing
Confederation of Zimbabwe Industries (CZI). New Zimbabwe writes that according
to the minister, the diamond mining sector is "dead" and is currently
not contributing meaningfully towards the country's foreign currency earnings.
"As of now the diamond sector is dead. I used to visit Mutare during the
hype of diamond mining and one could feel the diamond money. We need to come
back to that situation again," said Chinamasa.
3D Printing is Solution to Complicated Jewellery Designs
In 2013, Kristall Smolensk diamonds, a
Russia-based major polished diamond manufacturer, unveiled a replica of the
Great Imperial Crown (it was on display at the Antwerp Diamond Trade Fair in
January). The specifications of the replica were slightly different from the
original, encrusted with 11,426 cut and polished diamonds, weighing 1,180
carats and with an estimated worth of $15 - 20 million.
Diamond Services Expanding Screening Services for Synthetic Rough
Hong Kong: With evidence mounting about a
surge in the volume of uncut synthetic diamonds entering the marketplace,
Diamond Services has announced that it is expanding its synthetic screening
service for rough diamonds at its facilities in Hong Kong and New York.
IDCA Honors Industry Figures
New York: The Indian Diamond &
Colorstone Association (IDCA), New York, hosted its grand gala event during the
AGTA Tucson Gem Show on February 2 at the Marriott University Park Hotel.
De Beers’ Profits Shoot Up-Revenue Also Increases
Gaborone: De Beers’ revenue and profits –
reported as part of Anglo American’s
preliminary financial results for 2016 announced yesterday – both showed
an upward swing.
India’s Diamond Trade Continues to Recover
Mumbai: Diamond trading in India improved
in January, according to official data, as the country’s manufacturing sector
continues to recover from a liquidity squeeze in the final months of last year.
ALROSA’s President Andrey Zharkov Resigns
Moscow: ALROSA President Andrey Zharkov has stepped down from his post, a source in the company told Interfax. Zharkov announced this at a planning meeting on Tuesday. Statement by the head of ALROSA will be reviewed by the Supervisory Board of the company. The issue has not yet formally been handed to the Supervisory Board, the source added.
Our Industry Has Optimistic Future: Ernie Blom
Mumbai: Mr. Ernest (Ernie) Blom, one of the
most experienced and envisioned leaders of the global diamond industry today,
is President of World Federation of Diamond Bourses (WFDB), Honorary Life
President of WFDB, Chairman of Diamond Dealers Club of South Africa and
associated with many other trade bodies.
US Embassy & Consulate Officials Visit GJEPC
Mumbai: A team of officials from the US
Embassy in Delhi and the US Consulate in Mumbai yesterday visited the GJEPC
office in Mumbai where they held discussions on a number of issues with the
GJEPC Secretariat.
Lucara Diamond Posts Record Sales in 2016
Gaborone: Lucara Diamond Corp., which runs
the Karowe Mine in Botswana and holds multiple exploration licences in the
region, reports record earnings - and dividends - for the year 2016. Revenues
increased 32% to $295.5 million from $223.8 million in 2015, with its EBITDA
surging 38% to $184.4 million on the back of a 40% rise in price per carat
achieved: $824 per carat compared to $593 per carat a year ago.