NEWS

We repudiate his comments fully and completely

We repudiate his comments fully and completely

IDMA Quotes DeBeers on Rapaport's JCK Breakfast Conference

 

According to Ronnie VanderLinden, President-IDMA, ‘What stood out were the various reports on Rapaport's JCK Breakfast Conference where Martin Rapaport took the industry at large and De Beers in particular to task. I advise - no, I urge - you to view the video in its entirety and make your own judgement. If you weren't present and want to be part of the conversation, you must watch it first.

 

In response to the 2018 Rapaport Breakfast Conference and to Martin Rapaport's comments directed at De Beers, the De Beers Group of Companies wrote a letter to its sightholders and to other industry stakeholders which is quoted here below:

 


CTF Announces Promising FY2018

CTF Announces Promising FY2018

Chow Tai Fook (CTF) Jewellery Group Limited announces its annual results for the year ended 31 March 2018 (FY2018). The Group recorded a revenue of HK$59,156 million for FY2018 (FY2017: HK$51,246 million), representing a year-on-year increase of 15.4%. Gross profit amounted to HK$16,213 million (FY2017: HK$14,963 million).

 

Adjusted gross profit margin was down by 130 basis points in FY2018. Thanks to the encouraging business performance and operating leverage, core operating profit surged by 20.6% to HK$5,606 million (FY2017: HK$4,649 million).

 


China's jewellery market – quietly improving

China's jewellery market – quietly improving

According to the WGC, Market Update for June, China’s jewellery industry has responded to the changing consumer landscape over recent years. It has adopted two main strategies: offering an improved product range and blending the online and offline retail experience.

 

Improving product offering 24ct gold jewellery has dominated China’s gold jewellery market. It resonates well with older, more traditional consumers. But young, city folk have different tastes. 18ct gold (also known as K-gold) has played an important role in meeting the needs of this part of the market for some time.

 


Fura drills Coscuez Emerald Mine

Fura drills Coscuez Emerald Mine

Fura Gems announces the initiation of the diamond core drilling program at the Coscuez Emerald Mine in Boyacá, Colombia. Diamond core drilling program commenced on May 28, 2018. A total of 2,500 metres are planned to be drilled before the end of 2018. First 150 m of subsurface core drilling was completed June 2, 2018.

 

The drilling data, along with bulk sampling results, will contribute to a maiden mineral resource estimate expected in the fourth quarter of 2018. Dev Shetty, President & CEO of Fura, commented: “I am pleased to announce the start of the diamond core drilling program at the Coscuez Mine. Initial results have been very encouraging. 


Baba Kalyani heads group to study SEZ Policy

Baba Kalyani heads group to study SEZ Policy

Government of India has constituted a group of eminent persons to study the Special Economic Zones (SEZ) Policy of India.

 

The SEZ Policy was implemented from 01st April, 2000. Subsequently the Special Economic Zones Act, 2005 was passed by Parliament in May, 2005 and received Presidential assent on the 23rd of June, 2005 and the Special Economic Zone Act was enacted. The SEZ Act, 2005, supported by SEZ Rules, came into effect on 10th February, 2006.

 


IBC Approved by President of India

IBC Approved by President of India

The President today gave assent to promulgate the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018. The Ordinance provides significant relief to home buyers by recognizing their status as financial creditors.  This would give them due representation in the Committee of Creditors and make them an integral part of the decision making process. 

 

It will also enable home buyers to invoke Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016 against errant developers.   Another major beneficiary would be Micro, Small and Medium Sector Enterprises (MSME), which form the backbone of the Indian economy as the biggest employer, next only to the agriculture sector.

 


Minerals Council SA re-elects board!

Minerals Council SA re-elects board!

Johannesburg, 23 May 2018: Today, at the 128th Annual General Meeting of the Minerals Council South Africa (formerly the Chamber of Mines of South Africa), council members re-elected the current office bearers to serve for another term of office in 2018/2019.

 


1Q signs of stabilization for Signet!

1Q signs of stabilization for Signet!

Signet announced its results for first quarter Q1 Fiscal 2019. According to the given summary, same store sales (SSS) essentially flat with prior year Q1. GAAP diluted earnings per share (EPS) of $(8.48), including the impact of a non-cash impairment charge related to goodwill and intangibles, loss recognized on held for sale non-prime receivables and restructuring charges.

 

Company continues to expect $475 million in share repurchases in Fiscal 2019, of which $60 million were

repurchased in the first quarter. Company continues to expect sale of non-prime receivables to close in second quarter of Fiscal 2019.

 


Kagem Mining celebrates WED

Kagem Mining celebrates WED

Kabwe’s Kalonga Secondary School has scooped this year’s inter-schools World Environment Day (WED)  Quiz top prize of K15,000 of educational materials, courtesy of Kagem Mining Limited.

 

This year the focus was on finding solutions to “Beat Plastic Pollution” in order to achieve a green world.  Every year, an estimated 5 trillion plastic bags are used globally and 1 million plastic bottles are bought every minute. Plastic makes up 10 percent of all waste generated with at least 13 million tonnes of it ending up in the oceans-the equivalent of a full garbage truck being emptied every minute.


Paisley motif launched

Paisley motif launched

Reimagining the most iconic motif in stunning new forms, CaratLane, India’s leading omni-channel jewellery brand launches the ‘Paisley’ collection. From structured styles and intricate grace to bold overlays, there’s really a Paisley for every style.

 

“Using the best-in-class laser-cut technique, our designers have given Paisley a refreshing new look. With diamonds uniquely set inside gemstones, this collection has the finest designs tailored to complement every style.

 


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