NEWS
The Diamond Producers Association (DPA)
plans to increase its annual budget to $60 million from $6 million by asking
members for bigger contributions, Bloomberg reports.
New York: Forevermark diamond sales in the
U.S. jumped 6.4 percent during the holiday season as product launches and
focused marketing campaigns paid off, De Beers chief executive officer Bruce
Cleaver said.
Gaborone: The De Beers Group of Companies
yesterday announced that its Auction Sales business is to begin piloting
fixed-price forward contracts. These contracts will offer the opportunity for
Auction Sales customers to guarantee access to future supply with certainty
over the price to be paid when the contract reaches maturity.
Mumbai: India’s Gem and Jewellery Export
Promotion Council (GJEPC) has released the details of imports and exports of
raw materials for gems and jewellery for the month of December last year.
Kelowna (Canada): Diamcor reported weaker
prices at its fiscal third-quarter tenders as India’s demonetization policy
that sapped liquidity from the market hit the miner’s sales.
Milan: The requirement that all jewellery components be shown to have been responsibly and ethically sourced, handled and traded has become a central tenet of the luxury markets in the 21st Century, and it has led to the development of a service sector that provides the means and methods of ensuring the integrity of the supply chain. Compliance with accepted codes of practice is increasingly becoming a condition for doing business with some of the largest companies in the business.
Moscow: Alrosa's CEO Andrey Zharkov
believes that diamond prices will be flat this year, according to an Interfax
news agency report.
Toronto: Dominion Diamond Corporation
forecast production at the Diavik mine in Canada will increase by up to 14
percent this year after output rose in 2016.
The miner projected rough-diamond recovery
of 7.1 million to 7.6 million carats in 2017, with all mining taking place
underground. Production increased 4 percent to 6.7 million carats in 2016, but
was below the company's forecast due to wasted ore resulting from granite dropping
off the walls of the open pit.
Mumbai: KSS Limited, a brand synonymous
with quality and consumer satisfaction, opened its first co-branded Cherishgold
and BJewelz store in Mumbai yesterday. The store at Goregaon is the first-of-its-kind
retail and online co-branded store by KSS Limited in India. Birla Jewels Ltd, a
wholly owned subsidiary of KSS Limited that is listed on BSE and NSE is all set
to revive the jewellery buying experience in the country, with its unique offline
and online store format.
Mumbai: The jewellery industry, which
suffered and saw about 80 per cent drop in demand following the demonetisation,
is slowly recovering, although it may take over a year for things to become
normal, market experts said. “After Prime Minister Narendra Modi announced the
demonetisation move on November 8, 2016, there was a liquidity squeeze in the
market and the demand for jewellery went down by around 80 per cent. However,
after December 31, things are recovering and we have seen 30-40 per cent
improvement in demand,” the newly-elected All India Gems and Jewellery Trade
Federation (GJF) Chairman Nitin Khandelwal said.
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