Petra produces 1068140 carats in Q1

Petra Diamonds Limited announces unaudited result for the period for Q1 FY 2019. According to the highlights, Q1 production registered up 21% to 1,068,140 carats (Q1 FY 2018: 883,803 carats), mainly driven by a 25% increase in ROM production across the operations to 1,022,571 carats (Q1 FY 2018: 815,571 carats), offset by planned reductions in tailings recoveries at Finsch.

Q1 revenue up 22% to US$80.2 million from 626,541 carats sold (Q1 FY 2018: US$65.8 million from 586,571 carats sold). Diamond prices for Q1 on a like-for-like basis were down ca. 5% in comparison to FY 2018 due to the usual seasonal weakness, but partially offset by the improvement in product mix.

Richemont and Alibaba moves to JV

Richemont, the Swiss luxury goods group, and Alibaba Group today announce a global strategic partnership to bring the retail offerings of Yoox Net-A-Porter Group S.p.A. (YNAP), the world’s leading online luxury retailer, to Chinese consumers.

Under the partnership, YNAP and Alibaba will establish a joint venture (JV) to launch two mobile apps for YNAP’s Net-A-Porter and MR PORTER multi-brand, in-season online stores for consumers in China. Alibaba will provide technology infrastructure, marketing, payments, logistics and other technology support to the JV. The partnership will also leverage YNAP’s strong relationship with leading luxury brands, some 950 of them being currently distributed through YNAP in China.

Adorn with New Nakshi Collection

Festive jewellery is a valued possession that is timeless and can be treasured forever and this festive season, the most trusted heritage jewellery brand PNG Jewellers has launched a special collection for the season called the ‘Nakshi Collection’ inspired by traditional Maharashtrian Paithani. Designing jewellery that is classic yet contemporary is what PNG Jewellers stands for.

There is a myth in people’s mind that traditional jewellery is not fashionable. PNG Jewellers has come up with Nakshi Collection to break that myth and state that traditional is not cliché but classic.  Nakshi means carvings or curved designs, these designs are seen on the borders of Paithani Saree. Paithani Saree is considered to be the most regal attire that carries family legacy and traditions; PNG Jewellers has tried to depict the same in the designs of the collection.

Enchante 10 held in Lucknow!

Luxury Jewellery brand Aisshpra Gems & Jewels is back with their most anticipated annual jewellery exhibition and sales event titled Enchante 10 at Aisshpra Jewellery Boutique in Lucknow. The two-day event inaugurated by the graceful presence of Mr Umang Agarwal, Director-Aisshpra Jewellery Boutique in October was held in Lucknow and set its benchmark of brilliance several notches higher with its display of heritage and antique jewellery for modern Indian brides and their entourages alike.

Alrosa Q3 produces 10.5 mn carats

According to Alrosa, a global leader in diamond production, reports its Q3 2018 and 9M 2018 production and sales, Q3 2018 diamond production grew by 23% q-o-q (up 2% y-o-y) to 10.5 m carats due to seasonal growth in output at alluvial deposits, an increase in ore and gravels processing, and the ramp-up of the recently launched assets to design capacity.

An 11% decrease in 9M output 2018 to 26.4 m carats was mainly due to the shutdown of the Mir underground mine (UM) and the completion of open-pit mining at the Udachnaya pipe. In Q3 2018, the volume of processed ore and gravels grew by 70% q-o-q (up 10% y-o-y) to 17.2 m tonnes, due to seasonal return to production at alluvial deposits.

De Beers Q3 production reaches 8.7mn cts

Anglo American just announced its Production Report for the third quarter ended 30 September 2018. At the juncture Mark Cutifani, Chief Executive of Anglo American, said, “Our focus on driving efficiency and productivity across the business resulted in another strong quarter, with volumes 1% higher than the solid operational performance seen in Q3 2017.

Production per employee has increased by 5% in 2018, compared to 2017, as we maintain relentless discipline on controllable costs yet, more than offsetting planned lower volumes at De Beers and the impact of rail infrastructure constraints at Kumba in the first half of the year.”

Firestone sold 194206 carats in first sale

Firestone Diamonds, a new diamond producer with operations focused in Lesotho, provides its quarterly update on operations at its Liqhobong Diamond Mine for Q1 of the Company's 2019 financial year. According to the summary, first lost time injury recorded in the quarter after 6.7 million hours worked LTI-free since July 2014, with the employee returning to work three days later.

About 240,733 carats recovered with cost per tonne treated of US$10.05 substantially lower than FY19 guidance of US$15-16 per tonne treated. In the Q1, a total of 194,206 carats sold in first sale of the financial year while that was 261,985 carats in Q4, FY18, realising revenue of US$13.5 million in Q1 2019 was lower than Q4, FY18 had earned US$18.6 million.

New board members elected for AJA!

AJA General Assembly was held in the Association’s headquarters in MERIDIAN Expo center. The meeting was attended by AJA members, representatives of jewelry industry from different countries. AJA chapters’ boards worldwide offered candidacies from their Board members to be elected to AJA International Board.

The newly elected Board proceeded to AJA Executive Board elections. The following members were elected unanimously: President: Krikor Yessayan (Lebanon), Vice-President: Aris Demir (Istanbul), Vice-President: Leon Haytayan (AJA West Coast USA), Vice-President: Zohrab Istanboulian (Thailand), Treasurer: Anna Vardanyan (Armenia) & Secretary: Ruben Kotanchyan (Russia).

Signet appoints Independent Director

Signet Jewelers Limited, the world’s largest retailer of diamond jewelry, announced that its Board of Directors has appointed Zackery A. Hicks as an Independent Director, effective October 26, 2018. Hicks currently serve as Executive Vice President and Chief Digital Officer of Toyota Motors North America (TMNA) Inc and President and Chief Executive Officer of Toyota Connected Inc.

Signet Jewelers Announces Appointment of Zackery A. Hicks to Its Board of Directors “As part of our Path to Brilliance transformation plan, we identified the need to continue to strengthen our digital and data analytics capabilities across Signet to advance each of our three strategic priorities – Customer First, Omnichannel, and a Culture of Agility and Efficiency,” said H. Todd Stitzer, Chairman of Signet’s Board of Directors.

Diamond Shines with SS Jewellers

‘Make Hay While the Diamond Shines’ this party season as SS Jewellers introduces a splendid diamond edition. This magnificent ensemble comprises of earrings, neckpieces, bracelets and cuffs and is carved out in combination of rose, yellow and white gold in 18k. Furthermore, this edition has been studded with fine cut diamond.