S&P downgrades Chinese local governments

According to CER, Ratings agency Standard & Poor’s has downgraded seven Chinese local-government financing vehicles (LGFVs) on expectations that local authorities’ reduced willingness to provide bailouts will raise uncertainty for borrowers, the media reports. S&P downgraded Chinese local governments over default fears.

“We are lowering our long-term issuer credit ratings on seven LGFVs to reflect the gradual weakening of their roles and links with their local-government parents,” S&P said in a statement. Regarding the remaining eight institutions, the agency concluded that “the likelihood of extraordinary government support” was unchanged.

Global Jewelry sales up by 5% in Q2

Alrosa presented the results of its

Global luxury and jewelry market research

In Q2 of 2018, sales of decorative jewelry increased in all of the world's key regions, except for India. The average global growth rate was some 5% higher than during the same period last year.

Notably, in the Asia Pacific, the figures were as high as 17%. The positive dynamics resulted from the continuing expansion of various local players, made possible by the mounting demand for diamond-based jewelry in continental China. Another factor that made sales more stable was the improvement of tourist traffic in Hong Kong and Macao.

Petra revenue remained up by 25% YoY

Petra Diamonds Limited announces its preliminary results (unaudited) for the year ended 30 June 2018. According to the result report, Revenue remained up by 25% to US$495.3 million over the FY 2017 of US$394.8 million. Profit from mining activities gone up by 33% to US$205.1 million over the previous FY 2017 of US$153.9 million. Previously Petra had reported Koffiefontein impairment charge of US$66 million.

Lulo kimberlite licence gazetted

New five-year licence expires in 2023

Lucapa Diamond Company Limited announces that a new Mineral Investment Contract has been gazetted by the Angolan Ministry of Mineral Resources and Petroleum for the Lulo kimberlite exploration licence. The MIC covers a five-year period through to 30 April 2023.

Lucapa is a co-owner and operator of the kimberlite exploration program on the highly prospective 3,000km2 Lulo concession, which is run in parallel with the high-value alluvial diamond mining activities, conducted via Sociedade Mineira Do Lulo.

Now JSC Arkhangelskgeoldobycha is JSC AGD Diamonds

JSC Arkhangelskgeoldobycha was officially renamed ‘JSC AGD Diamonds’ recently due to its new marketing policy and the brand’s international positioning aimed at its customers, the buyers of rough diamonds.

During the month of June, the company produced 234,000 tons of ore at the Grib Diamond Field and raked in more than $46 million from rough sales.

KGK Group, bags JNA Awards 2018

KGK Group, one of the few conglomerates covering the entire spectrum of mining, sourcing, manufacturing and distributing coloured stones, diamonds and jewellery was recognised as the Outstanding Enterprise of the Year, India Award at the seventh annual JNA Awards that was held alongside the September Hong Kong Jewellery & Gem Fair.

Delighted on this occasion, Sanjay Kothari, Vice Chairman of KGK Group, remarked, “We would like to express our gratitude to the respected jury who acknowledged us with the Outstanding Enterprise of the Year-India Award. It was truly an honor to receive this award amongst industry’s elite and eminent personalities, recognizing KGK’s exemplary business practices & standards. With years of hard work and fore vision, I am proud to dedicate this award to the persistence diligence and dedication of KGKians”.

Vicenzaoro September to raise curtain tomorrow!

Numerous events, organized by leading Italian and International exhibitors among others, will be staged at Vicenzaoro The Jewellery Boutique Show September– Italian Exhibition Group’s splendid European trade show specifically for international Gold and Jewellery, scheduled to take place in Vicenza from 22nd to 26th September 2018. A calendar of events that has becoming fuller by the day.

On the opening day of the September edition of Vicenzaoro will be Visio.Next:Trends, one of the most awaited events featuring a round table of debate on the future of jewellery, to be held on Saturday 22nd September (10 am, Sala Tiziano HALL 7.1). Specifically, the most authoritative key players on the global market will be discussing the jewellery world’s latest trends, consumer modalities and the market situations destined to leave a mark.

Trade War...blows!

Trade war may last for two decades!

Alibaba Executive Chairman Jack Ma told businesses that the country’s trade war with Washington will not be over anytime soon, and that they must be prepared, media reports. Speaking at an Alibaba investor day meeting in Hangzhou, Ma said the conflict could last up to 20 years, with the economic fallout being larger than expected.

“Short term, business communities in China, US, Europe will all be in trouble,” said Ma. “This thing will last long. If you want a short-term solution, there is not a solution.” “We should not focus on this quarter or next quarter or next year’s profit. This is a huge opportunity,” he added.

Forevermark launches #BetterHalfWithinMe

Forevermark launches the Campaign #BetterHalfWithinMe 

Forevermark’s New Campaign #BetterHalfWithinMe

Forevermark, the diamond brand from The De Beers Group of Companies, has launched the ‘The Better Half Within’ Campaign, a reflection of the poised, powerful, and self-determined personality of the woman of today.

The campaign includes a film and will utilize national media channels such as TV mainlines, set of print and outdoor ads, digital display, social media, radio channels, and in-store. The campaign will debut on TV with 30 and 50 second commercials, to be screened on 15 September 2018. The TVC will be shared on social & digital with shorter edits.

Tango services for Angola mining

Tango Mining Limited announces that it has signed a Services Agreement for Mining and Marketing of Diamonds with Cooperativa Mineira Do Moquita, SCRL on a 147 square kilometer portion of a concession located 50 km north of Lucapa within the Lauchimo River basin, Province of Lunda Norte, Republic of Angola.

Tango is responsible for capital expenditures associated with alluvial diamond mine design and equipment acquisition as well as enhancing production. As remuneration, Tango will receive 60% of the proceeds from the sale of produced diamonds.