News of the day
The GIA plans to open a laboratory in Surat, India, and expand its long-term presence in Antwerp in the second quarter of this year, as it aims to meet the needs of the global gem and jewelry industry.
The GIA announced that it has premises in both locations.
The Israel Diamond Exchange (IDE) reports that hotel rooms for participating buyers are rapidly running out for the 7th International Diamond Week in Israel (IDWI).
Consequently, people registering late for the event will not be guaranteed free hotel accommodations, the IDE added.
Lucapa Diamond Company has recovered more large diamonds from the Lulo diamond mine in Angola.
The latest stones include diamonds weighing 103 carats and 83 carats, both recovered from Mining Block 8.
"The 103-carat light brown diamond and 83-carat Type IIa diamond continue to evidence the special nature and potential of the Lulo resource," the miner said.
Israeli billionaire Dan Gertler has been placed on the US Treasury's Office of Foreign Assets Control (OFAC) sanctioned individuals list due to his business ties with President Joseph Kabila of the Democratic Republic of Congo (DRC).
In December, ALROSA's Udachny Mining and Processing Division completed the removal of 75 tons of diamondiferous ore from Verkhnyaya Muna for the trial processing at Processing Plant No. 12 and recovered first diamonds from Verkhne-Munskoe deposit.
The development of processing technology is required to prepare for commercial launch of the deposit scheduled for 2018.
The National Retail Federation said that retail sales in November increased 0.9 percent over October on a seasonally adjusted basis and were up 6 percent year-over-year unadjusted, according to calculations.
Online and other non-store sales grew 10.5 percent year-over-year, reflecting the growth of online shopping. The numbers exclude automobiles, gasoline stations and restaurants.
2017 was a "stellar" year for Christie’s jewelry sales, the auction house said in a statement.
"Nine new world record prices were achieved at our sales worldwide driven by intense competition from collectors who bid at the highest levels for important diamonds, rare gems and jewels, and superb objects," said Rahul Kadakia, International Head of Jewelry, Christie’s.
The World Diamond Council (WDC), which represents the industry at the Kimberley Process (KP), has expressed its gratitude to those who took part in the KP's Plenary Session last week for "embracing the spirit of collaboration and open dialogue around KP reform".
De Beers sold rough diamonds with a provisional value of $450 million in the 10th sales cycle (Global Sightholder Sales and Auction Sales) of 2017.
The mining giant said that there had been a continuation of good demand heading towards the end of the year.
Bain & Company’s seventh annual Global Diamond Report says rough diamond players will likely raise their marketing spending by around 50 percent over previous years to promote diamonds.