KP to End Illicit Diamond Trade

General Assembly Adopts Resolution

2030 Agenda for Sustainable Development

The General Assembly, welcoming progress made by the Kimberley Process Certification Scheme to break links between the diamond trade and conflict, adopted a consensus resolution aimed at intensifying that work and aligning it with the 2030 Agenda for Sustainable Development.

Julie Bishop, Minister for Foreign Affairs of Australia, introduced the draft resolution titled, “The role of diamonds in fuelling conflict:  breaking the link between the illicit transaction of rough diamonds and armed conflict as a contribution to prevention and settlement of conflicts” (document A/72/L.41). 

GJC announces Manthan

The Gems & Jewellery Conclave 2018 scheduled during April 5- 6

Setting the 2025 Growth Vision for India’s gems & jewellery sector

The All India Gem & Jewellery Domestic Council (GJC), formerly known as All India Gems & Jewellery Trade Federation (GJF), announced Manthan Gems & Jewellery Conclave 2018 on April 5- 6 at Hotel Sahara Star, Mumbai.

Tango adds kimberlite

Tango Mining has added an additional Prospecting License (PL58) to the Middle pits Project which hosts a kimberlite, called Kolonkwaneng. The Kolonkwaneng kimberlite, was identified by De Beers in 1977 and more recent airborne geophysics suggests it is elliptical in shape and is 127 metres (m) by 226 m in diameter. Bulk sampling work by De Beers recovered micro diamonds and heavy minerals that indicate the kimberlite is diamondiferous.

Both PL101 and PL58 (now collectively the Property) are located 470 kms south west of Gaborone and 90 km south west of Tshabong in the Kgalagadi District, Botswana. PL58 has been added as per the same terms and conditions as previously announced.

Stornoway sold 1,701,561 cts!

Stornoway Diamond reported financial and operating results for the fourth quarter and year ended earnings, operating expenses and capital expenses quoted reflect the recent adoption of a change in accounting policy regarding the capitalization of certain underground mine development costs.

According to the recently announced Year Ended December 31, 2017 Stornoway reported net loss of $114.6 million($0.14 per share on a basic and fully diluted basis), compared to net income of $19.6 million in 2016 ($0.03 per share basic and fully diluted).

The Jeweler’s Eye at Sotheby hammer!

Public exhibition opens 13 April & Auction on 18 April NY

Sotheby’s is honored to announce that it will present The Jeweler’s Eye: The Personal Collection of Fred Leighton in a dedicated auction on 18 April 2018 in New York.

While Mr. Leighton is legendary within the jewelry industry, and often lauded for revolutionizing the way celebrities wore jewels on the red carpet, many will discover that his creative eye also extended to his collection of fine furniture and decorative arts, spanning from the 17th through 20th-centuries.

Reliance Jewels Launches showroom in Gurugram

Reliance Jewels, one of India’s most trusted jewellery brands, has re-launched its flagship showroom in Gurugram, at the Gold Souk Mall, India’s first specialty jewellery mall. Patrons will be treated to an unforgettable ethereal experience as they walk into a dazzling showroom replete with alluring displays of gold and diamond jewellery against rich and opulent raw silk backdrops.

The showroom now conveniently re–located on the 1st Floor of the Gold Souk Mall will display an exclusive collection of traditional and contemporary Gold, Diamond, Platinum jewellery catering to their Gurugram customers.

Transfer Pricing Documentation and CbC Reporting

The Government of India issues clarification regarding requirement for furnishing of Country-by Country Report under Section 286(4) of Income Tax Act, 1961.

In keeping with India’s commitment to implement the Recommendations of the 2015 Final Report on Action 13, titled “Transfer Pricing Documentation and Country-by-Country Reporting”, identified under the OECD Base Erosion and Profit Shifting (BEPS) Project, Section 286 of the Income-tax Act, 1961 (‘the Act’) was inserted vide Finance Act, 2016, which provides for furnishing of a Country-by-Country (CbC) Report in respect of an International Group.

KP kick off a common agenda

Recently,  the Kimberley Process (KP) Chair, Hilde Hardeman, organised a coordination meeting with the Chairs of the KP Working Bodies, in New York. The meeting was organised back-to-back to the debate and adoption of the annual United Nations General Assembly Resolution on Conflict Diamonds and a high-level side-event on the "Kimberley Process, Sustaining Peace and the 2030 Agenda for Sustainable Development" co-hosted by Australia and Botswana.

A 10.92 ct diamond sold at US$3,800p/ct

Tango Mining diamond announced sales results from the alluvial Oena Diamond Mine, Republic of South Africa. During the period from 18 January to 14 February 2018, a total of 107.11 carats (76 diamonds) were produced, placed on tender in Kimberley and sold with an exceptional average price of US$1,329 per carat.

The top three highest value diamonds recovered during this period include: a 10.92 carat diamond which sold at US$3,800 per carat, a 2.23 carat diamond which sold at US$3,650 per carat and a 5.45 carat diamond which sold at US$2,731 per carat.

Lingman Lake a reserve of 234,684 oz of gold

Signature Resources announces that to date, over 80%  of its Lingman lake property has been covered by the airborne survey. The airborne survey conducted by Teraquest Ltd. is comprised of the acquisition of data using high resolution magnetics and digital matrix VLF EM. It will be flown over the majority of Signature’s 9,896.8 hectare property.

“We are thrilled that finally the weather has changed, and that the flight crews have been able to take advantage of the opportunities to fly. We anticipate, weather permitting, to achieve completion of the survey by end of week. We are very excited by this survey and its implications to discovering new mineralized systems within the Lingman lake greenstone belt.