Angola Chairs KP Review Committee

According to official version of Angola, Angola took over the chairmanship of the Kimberley Process Review and Reform Committee in Brussels, Belgium. The event took place during the XV plenary session of the Kimberley process certification system held, which coincided with the organization's 15thanniversary.

At the official ceremony of the plenary, Didier Reynders, Deputy Minister and Minister for Foreign Affairs and European Affairs of Belgium, reiterated the European Union's commitment to the process of revising and reforming the KP in order to increase its efficiency and credibility as an instrument of the United Nations for conflict prevention related to the abuse of diamonds and systematic violations of human rights in communities and regions where diamonds are extracted.

KP Plenary adopts Administrative decisions

While reiterating its support for the Kimberley Process Certification Scheme (KPCS) as the most effective means possible to end the trade in conflict diamonds, the World Diamond Council (WDC) expressed concern that more progress was not made in reforming its scope during the 2018 KP Plenary Meeting that hosted by the European Union in Brussels, Belgium.

Nonetheless, the WDC considered as positive the noting in the KP Plenary’s final communiqué of the submission by the Canadian government of an expanded definition of conflict diamonds, which had been proposed by WDC and its fellow KP observer, the Civil Society Coalition (CSC), and expressed hope that the Kimberley Process Participants will support the amendment and make further contributions ahead of the next KP Plenary in India in 2019.

Alrosa sells large diamonds in Dubai

Alrosa, the largest diamond mining company in the world, held special size (over 10.8 carats) rough diamond auction in Dubai. The overall revenue from sales totalled $9.5 million.

The company sold 141 rough diamonds with total weight 2,140 carats. 28 companies were recognized as winners in different auction positions. Firms from India, Belgium, UAE, Israel, Hong Kong and Russia participated in the auction.

Study to assess illegal mining in Johannesburg

The Department of Mineral Resources has initiated a ground stability study to be undertaken in Johannesburg to assess whether there is any long-term damage to critical infrastructure installation as a result of illegal mining activities. The study, which will is due to commence shortly, will be carried out through the department’s entity, the Council for Geoscience (CGS).

IDWI to be held at the IDE

Registration is now open for the eighth International Diamond Week in Israel (IDWI), to be held from January 28 – 30, 2019 at the Israel Diamond Exchange (IDE). The event has become a staple on the global diamond calendar, and attracts hundreds of international buyers from over 20 countries every year.

IDWI is held on the immense trading floor of the Israel Diamond Exchange (IDE). It will feature 200 Israeli exhibitors of polished diamonds, with huge amounts and varieties of goods on offer.

Retail Crime Losses Reach All-Time High in US

Organized retail crime is continuing to grow, with nearly three-quarters of retailers surveyed reporting an increase in the past year, according to the 14th annual ORC study released today by the National Retail Federation.

“Retailers continue to deal with increasing challenges and complications surrounding organized retail crime,” NRF Vice President of Loss Prevention Bob Moraca said. “These criminals find new ways to expand their networks and manipulate the retail supply chain every day. The retail industry is fighting this battle by upgrading technology, improving relationships with local law enforcement and taking steps such as tightening return policies, but it is a never-ending battle.”

Industrial Park Rating System Releases

The Union Minister for Commerce & Industry and Civil Aviation, Suresh Prabhu, released the report prepared by the Department of Industrial Policy & Promotion (DIPP), Ministry of Commerce & Industry, on Industrial Park Rating System (IPRS).

Speaking on this occasion, Commerce Minister said that manufacturing has emerged as one of the high growth sectors in India and it has moved 23 places up in the World Bank’s Ease of Doing Business (EODB-2019) and achieved rank 77 out of 190 countries. In order to ensure that India moves into the top 50 countries in Ease of Doing Business the Ministry has undertaken this exercise in studying infrastructure across states and in 3354 industrial clusters in order to assess quality of infrastructure in industrial parks.

Resource Increased at Kora North

K92 Mining announces resource estimate has been completed at its Kora North deposit, based on results from underground grade control, exploration diamond drilling and face sampling. The updated resource estimate comprises a Measured Resource of 154,000 tonnes Au, 8.9 g/t Ag and 0.5% Cu.

An Indicated Resource of 690,000 tonnes Au, 14.1 g/t Ag and 0.8% Cu and an Inferred Resource of 1.92 million tonnes of Au, 13.3 g/t Ag and 0.7% Cu. This represents an increase of over 20% in the contained gold equivalent oz for the Measured and Indicated Resource and almost 30% for the Inferred Resource.

Return fraud threatens US retail

Return fraud continues to pose a serious threat to the retail industry. Retailers estimated that an average 11 percent of their annual sales will be returned this year, and that 8 percent of those returns are likely to be fraudulent. An estimated 12 percent of returns will not include a receipt, and 21 percent of those are expected to be fraudulent. In addition, 38 percent reported in an increase in online purchases returned to a bricks-and-mortar location, and 29 percent cited an increase of those returns being fraudulent.

During the holiday season, retailers expect 11 percent of sales to be returned, on average, down from 13 percent last year, and that 10 percent of the returns will be fraudulent, down from 11 percent last year. The survey of 66 loss prevention professionals representing department store, big-box, discount, drug, grocery, specialty retail and other industry sectors was conducted.

Svar label brand launched in Mumbai

Recently Svar label brand was launched in Mumbai by two young passionate sister & brother from Mumbai, one as Gemologist & Jewelry Designer and other one as Sales & Marketing business expert.

Svar brand was created from their four family members’ names taking first alphabet of each to have the family culture roots connected to the business, keeping family values, ethics and trust on the forefront. Their brand vision is to bejewel the Jewelry dreams of every creative and aesthetically inclined soul and to create an era of concept-based designing; where design speaks endless creations, and each set of design has its own story to tell…