The Royal Indian Necklace Stealing Hollywood Hearts

There is an air of anticipation around with film buffs awaiting the release of the Ocean's 8.  With a cast featuring top female stars, the film, according to critics is just what Hollywood has been waiting for and everyone is going gaga over the unique Indian connection.

Sharing the limelight is the ‘The Jeanne Toussaint’ necklace recreated by Cartier especially for the film. The spectacular historic piece celebrates the sparkling strength of bold and fearless women of today.

USA CAD hike in Q1 to $124.1 billion!

The U.S. current-account deficit increased to $124.1 billion (preliminary) in the first quarter of 2018 from $116.1 billion (revised) in the fourth quarter of 2017, according to statistics released by the Bureau of Economic Analysis (BEA). The deficit was 2.5 percent of current-dollar gross domestic product (GDP) in the first quarter, up from 2.4 percent in the fourth quarter.

The $8.0 billion increase in the current-account deficit reflected an $8.1 billion increase in the deficit on goods and relatively small and nearly offsetting changes in the balances on services, primary income, and secondary income. Exports of goods and services and income receipts increased $23.0 billion in the first quarter to $913.4 billion. Imports of goods and services and income payments increased $30.9 billion in the first quarter to $1,037.5 billion.

KP Intersessional meeting to conclude today

The European Union (EU) hosted Kimberley Process (KP) Intersessional meeting in Antwerp, Belgium during  18 & up to 22 June. In 2018, the European Union holds the Chairmanship of the Kimberley Process, a global partnership which brings together governments, industry and civil society with the aim to eliminate the trade in so-called conflict diamonds worldwide.

This Intersessional meeting discussed latest developments in the implementation of the Kimberley Process Certification Scheme and wider diamond governance, as well as the ongoing reform agenda of the Kimberley Process.

Kahuna Resource of 3189K carats of diamonds

Dunnedin Ventures announced drilling has recommenced at its 100% owned Kahuna diamond project, Nunavut.  Drill crews and equipment have been mobilized and drilling of high–priority kimberlite targets is underway. The Company will be drilling approximately 30 targets in June and July 2018. 

Chris Taylor, Dunnedin’s CEO said, “The northern project area hosts a dense concentration of kimberlite occurrences and has the most abundant high-quality diamond indicator mineral (DIM) chemistry recovered from our till sampling programs to date. 

Alrosa decided to revise output plan

Alrosa's management decided to revise output plan at its International underground mine as the company toughens its approach to health and safety management, though 2018 production plan remains unchanged.

Results of the audit conducted following the Mir mine accident back in 2017 led to revision of the construction project for the International mine.

The Company decided to suspend the construction of deep mine levels below the level -800 meters whereas it is necessary to carry out works to prevent gas-dynamic phenomena recorded here. Mining at lower levels is expected to resume in the end of 2018 when studies will be carried out and expert recommendations will be received.

The 3rd China Gold ready to run from 24

Hosted by China Gold Association and World Gold Council, the 3rd China Gold Congress and Expo will be held on July 24-26, 2018 in China National Convention Center. China Gold officially gets the support from the relevant China and foreign government and industrial institution.

As the only national gold and precious metals event, China Gold covers the entire mineral value chain under the streams of Gold Mining, Gold Investment Market and Gold Consumption. That includes gold mining, smelting and processing, market trend forecasting for gold investment, gold consumer products, particularly jewelry design and technology.

Reinforcement in Fura management!

Fura Gems appoints Mr. Dibya Baral as Director - Technical Services, Mr. Rahul Gopal as Director - Security and Risk Control and Mr. Amit Sharma as Head – Geology for Mozambique.

Both Mr. Baral and Mr. Gopal will be based in Fura’s administrative headquarters in Dubai and will be reporting to Mr. Ashim Roy, Vice President - Operations. Mr. Baral will be responsible for Fura’s overall technical functions, including mining, geology, processing plants and other technical services.

Mr. Gopal will be responsible for the security and risk functions. Mr Sharma will be based in Montepuez and will be reporting to the Project Manager-Mozambique. Mr. Sharma will be responsible for the exploration and mining operations of Fura’s Mozambican ruby project.

Alrosa held large diamonds auction!

Alrosa, the world's largest diamond mining company, has sold special size rough diamonds (weighing more than 10.8 carats) during the international auction in Dubai, which took place from May 27 to June 14, 2018. The results were summed up on June 18.

The company has sold 111 gem-quality lots with the total weight of 1,725 carats. The overall revenue from sales amounted to $10.5 million. 32 companies from the largest diamond trading centers (India, Belgium, Israel, Russia, the United Arab Emirates and the United States) were recognized as winners.

CBIC fortnight successfully concluded

Total GST refund disposed till 16th June, 2018 stands at Rs 41,548 crore; Rs.6,087 crore IGST refund sanctioned in the 2nd Special Refund Fortnight extended from 31st May, 2018 to 16th June, 2018.

In line with the commitment of Government to liquidate all pending GST refunds filed till 30th April, 2018, the Central Board of Indirect Taxes and Customs (CBIC) has successfully concluded the 2nd Special Refund Fortnight extended from 31st May, 2018 to 16th June, 2018.

By the end of 16th June, 2018, Rs.6,087 crore IGST refund has been sanctioned in the refund fortnight. The interesting facts during the second fortnight are (i) about 1,68,191 shipping bills have been processed (ii) IGST refund claims of about 9,293 exporters have been sanctioned including about 3500 new exporters, whose refunds had been held up, have got their refund sanctioned.

Lucara Tender 12 achieves US$ 32.48 mn

Lucara Diamond announces the results from its 12th Exceptional Stone Tender (EST).  The tender consisted of 10 single stone lots, ranging from 472.37 to 40.4 carats in size, totaling 1,453.06 carats, included two diamonds greater than 300 carats, and achieved gross revenues of US$ 32.48 Million (US$ 22,356 per carat). The 327.48 carat diamond sold for US$ 10.1 Million (US$ 30,900/ct).

Eira Thomas CEO, stated, "Lucara is very pleased with the outcome of EST12, which was comprised of diamonds produced during 2018, including several diamonds recovered from the EM/PK(S) unit during February and April of this year.