NEWS
Rockwell Signs Agreement with Nelesco
Johannesburg: Rockwell Diamonds Inc has
announced that it had entered into a purchase and sale agreement with Nelesco
318 Proprietary Limited for certain of its non-core assets as part of its
recently announced strategic repositioning and business turnaround plans. The
Company said that it will use the money thus raised along with funding by two
of the key shareholders and a third party, to focus on completing the next
phase and ramp up of the Wouterspan mine and processing plant and advance its
portfolio of development and exploration properties.
Stellar to Develop Tongo-Tonguma Project in 2017
Stellar Diamonds plc has said that it would
focus on developing its Tongo project in Sierra Leone even as it pursued the
acquisition of the adjacent Tonguma mining licence so as to achieve “long-term
and sustainable production and revenues”. The Company reported that its pre-tax
losses had increased to US $ 7.05 mn, up from US$ 3.01 mn a year ago, but
clarified that this was largely on account of an impairment charge of US$ 4.3
mn booked on its Kono diamond project which has been under dispute for the last
few years.
Armenian Jewelers’ Association Delegation to Attend IDWI
Ramat Gan: A high-level delegation of the
Armenian Jewelers Association (AJA) headed by its President Sarkis Nourian will
attend the 6th International Diamond Week in Israel (IDWI) from February 13-16,
2017 as guests of the Israel Diamond Exchange (IDE). A Memorandum of
Understanding (MoU) will be signed with the Israeli exchange at the IDWI, under
the auspices of the Dr. Gaetano Cavalieri, President of the World Jewellery
Confederation (CIBJO), says a press statement from IDE.
Almod Diamonds to Open Canada Cutting Factory
New York-based Almod Diamonds will expand
production of its patented 'Crown of Light' cut by opening a new cutting and
polishing facility in Canada’s Northwest Territories next year.
ALROSA May Increase its Catoca Stake
Moscow: ALROSA may increase its stake in
the Catoca project in Angola. The diamond company is interested in the share,
which subsequently will consolidate revenues and reserves, ALROSA's president
Andrei Zharkov told Forbes.
BlueStone Secured Additional Funds of Rs. 35.51 Crore
Mumbai: Online jewellery retailer BlueStone
has secured additional funding to the tune of Rs. 35.51cr say media reports.
This new amount has been secured from Iron Pillar Fund I by allotting
preference shares to the fund.
Gems and jewellery Exports to EU Worth $3 bn at Risk
Mumbai: Gems and jewellery export to the
European Union worth upwards of $3 billion a year is at risk due to the
country’s exclusion in the list of Generalized System of Preferences (GSP), a practice
which offers tax incentives from origin to destination countries, reports
Business Standard.
2017 Jewelry Industry Summit Announces Agenda
Tucson: The 2017 Jewelry Industry Summit, an
open forum on sustainability and responsible sourcing, will take place Jan.
29–30 in Tucson.The 2017 meeting will be the second edition of
the conference. The agenda includes two days of morning and afternoon sessions
with speakers and small group meetings.
James & Sons is Retailer of the Year
New York: Diamond jewelry brand Hearts On Fire
hosts an annual Retailer of the Year contest for its independent retail
partners—and this year, the brand rolled out five subcategories within the
contest.
Christie’s Names New CEO
New York: Guillaume Cerutti, Christie’s
current president of Europe, Middle East, Russia, and India operations, has
been appointed the auction house’s CEO.
He replaces Patricia Barbizet, who has held
the post since 2014. A statement from the company says the change was made on
Barbizet’s recommendation and “with the full support” of the Pinault family,
who controls Christie’s.
He replaces Patricia Barbizet, who has held the post since 2014. A statement from the company says the change was made on Barbizet’s recommendation and “with the full support” of the Pinault family, who controls Christie’s.