Change of Chairman at Gemfields

Gemfields announces that Mr Brian Gilbertson will step down as the Chairman and as a director of the Company with effect from 25 November 2019. Mr Martin Tolcher, who has served on the Board since 25 November 2008, will take over as Chairman of the Company.

This development and its timing stem from Gemfields’ ongoing work toward obtaining a dual listing on the London Stock Exchange’s AIM market. This ongoing process has highlighted the father‐and‐son relationship between Mr Brian Gilbertson and Mr Sean Gilbertson ‐ the present Chairman and CEO of Gemfields respectively ‐ as a potential impediment to robust corporate governance. By stepping down from the Board, the issue is obviated.

Reliance Jewels celebrates Children’s Day!

Reliance Jewels celebrated Children’s Day on 14th November, 2019 and held an exclusive workshop for kids at their showrooms across cities in India. As a part of this celebration, they had organized a “Complimentary workshop – Best from Waste.”

This successful programme included fun activities for the kids with the guidance of an expert in the fields, the kids engaged in making a wide range of useful products from waste.  They thoroughly enjoyed making colourful things out of waste and had a meaningful day along with their parents. All the kids were also rewarded with ‘Certificate of Special Appreciation’ for participating in the Best from Waste workshop.

Commenting on the event, a Reliance Jewels spokesperson said, “This Children’s Day we wanted to make this day more special for everyone. We were delighted to organize this meaningful event for kids and bring a smile on their face. We are glad to receive a positive feedback from parents and the customers too.”

About Reliance Jewels: 

At Reliance Jewels, gold and diamonds are available at the most competitive rates. Zero-wastage and competitive making charges ensure 100% satisfaction for customers. Reliance Jewels has 200 + stores across 100 cities and is expanding exponentially.

With a spectacular variety of designs in its collection, Reliance Jewels has an ornament for every personality and every occasion. Reliance Jewels assures 100 percent purity, transparent pricing and guaranteed quality in every piece.

The brand only deals in 100 percent BIS Hallmarked Gold and every diamond used is internationally certified by independent certification laboratories. All Reliance Jewels showrooms have QC Tech Rooms for repairs & Karat Meters for customers to assess purity of gold free of cost. Apart from this the brand also offers loyalty points on every purchase.

Skill competition 2020 announced!

Dr. Mahendra Nath Pandey, Minister of Skill Development and Entrepreneurship has announced the opening of online registrations for IndiaSkills 2020, a biennial competition to scout talent from the country, offering them a platform to showcase their skills at national and international competitions.

IndiaSkills 2020 provides a platform for skilled and talented Indian youngsters to showcase their abilities at regional and national level competitions in over 50 skills. Regional legs of the competitions are organized across four zones, culminating at the national competition in Delhi. Winners of IndiaSkills will then get a chance to represent the country at the WorldSkills International Competition to be held in China in 2021.

WFDB urges for Permanent KP Secretariat

Implement the Spirit of UN Resolution A/71/L.55 of 27 January 2017

Create well-structured permanent body to take over work done by volunteers

Facilitate process of rehabilitation for previously non-compliant countries

World Federation of Diamond Bourses President Ernie Blom has appealed to government representatives attending next week’s Kimberley Process Plenary session in New Delhi, India, to ensure that the new KP Permanent Secretariat that is being set up is given a pro-active role, particularly in facilitating the process of rehabilitation of countries that had previously been found to be non-compliant.

US retail grew over 4% in October YoY

Retail sales in October increased 0.2 percent seasonally adjusted over September and were up 4.2 percent unadjusted year over year (YoY), the National Retail Federation said. The numbers exclude automobile dealers, gasoline stations and restaurants.

“Despite the gradual slowdown in the U.S. economy, consumers are in a good place and October’s retail sales are a step forward into the all-important holiday season,” NRF Chief Economist Jack Kleinhenz said. “Uncertainty around trade policy has impacted consumer sentiment recently but ongoing job growth, low interest rates, low inflation and the stock market hitting record highs provide support for consumer spending.”

Diamcor rough sold at soft price 2Q

Diamcor Mining reported a net income of $350,676 for the period ended September 30, 2019, a significant increase when compared to a net loss of $417,368 realized during the same period in the prior fiscal year.  

During the second fiscal quarter ended September 30, 2019 the Company tendered and sold 3882.82 carats of rough diamonds, generating revenues of USD $569,059, which resulted in an average price of US $146 per carat.  This is a decrease when compared to revenues of USD $726,846 and an average of US $278 per carat realized during the same period in the prior fiscal year in which several larger diamonds in the +10.8 special category were recovered, tendered, and sold. 

BOD schedules AGM on December 12!

Botswana Diamonds plc (BOD) announces its audited annual results for the year ended 30 June 2019. The AGM is due to be held on Thursday 12th December 2019 in the London. At the occasion John Teeling, Chairman’s Statement says, Botswana Diamonds has become a diamond miner. Our project on the Marsfontein gravels has begun production and we expect it to ramp up in the coming weeks.

The 2020 IDWI scheduled in February!

The Israel Diamond Exchange (IDE) is gearing up for a very exciting International Diamond Week in Israel (IDWI), to be held from February 10 to 12, 2020. The annual event is held on IDE’s immense trading floor and attracts hundreds of international buyers from over 20 countries.

A roadmap of $ 500 bn Intra-BRICS trade

Prime Minister Shri Narendra Modi along with the Heads of states of other BRICS countries participated in the Leaders dialogue with BRICS Business Council and New Development Bank.

Prime Minister said that the BRICS Business Council created a roadmap to achieve the $ 500 billion Intra-BRICS trade target by the next summit and identification of economic complementarities among BRICS countries would be important in this effort.

First diamonds recovered from Marsfontein!

Recently Botswana Diamonds reported that the first diamonds have been recovered from plant commissioning activities on the Marsfontein Mining Permit.  These come from the diamond bearing gravels and residual unprocessed stockpiles surrounding the Marsfontein Mine.

Plant commissioning is well advanced following the installation of an in-field screen, two rotary pans, grease and x-ray recovery.  Optimisation of the plant flow sheet is currently taking place and this will be followed by ramping-up to full production of 400-tons of pan feed per day.