Diamond Mining News

IDEX Online News – GIA Starting Pick Up Service in Dubai

GIA’s Dubai facility will offer free weekly pickup and delivery services of gemstones destined to GIA laboratories across the world for grading. G4S International Logistics will collect the goods from Almas Tower, the Gold Souk and other sections of the Emirate to GIA’s take-in office in the Dubai Airport Free Zone.

IDEX Online News – Shortages in SI Goods as Mumbai Dealers Ready for Hong Kong Show

Demand from the Chinese market for SI goods has resulted in shortages of this category of diamonds in the Mumbai market. There is a lot of anticipation that the upcoming Hong Kong trade show will reveal strong demand from the Chinese market. The Hong Kong Jewellery & Gem Fair is opening on June 23.

IDEX Online News – IDEX Online Research: Signet’s New CEO Outlines His Priorities

Mike Barnes, Signet Jewelers’ new CEO who has been on the job for just a few months, took the opportunity to “set out our priorities” on a recent conference call with Wall Street analysts. The key priorities he mentioned are listed below. We expect to see more detail about these priorities in the coming months.

Stornoway announces 56% increase in Renard diamond price estimate

Stornoway Diamond Corporation (TSX:SWY) is pleased to announce the results of a recent diamond valuation exercise undertaken in support of the ongoing feasibility study at the Renard Diamond Project, Stornoway's 100% owned flagship project located in north central Québec. The diamond valuation was performed under the supervision of WWW International Diamond Consultants Ltd. ("WWW") in Antwerp, Belgium between May 9th-13th, 2011.

Endiama grants mining certificates to artisanal diamond producers

Angola's Minister of Geology, Mining and Industry, Joaquim David, distributed the first of 120 mining certificates to artisanal diamond producers last on Thursday in Cuango, Lunda Norte Province, with the objective of reducing unemployment in […]

Former Surat diamond association president to head SGCCI

The Surat Diamond Association's (SDA) former president, Rohit Mehta, will become the new president of India's Southern Gujarat Chamber of Commerce and Industry (SGCCI) during today's 70th annual general meeting and installation ceremony, reports The

Luxury jewelry market facing dazzling future-China Mining

Luxury jewelry has traditionally not been considered as profitable as high-end watches, handbags and garments in the Chinese market. But this is fast changing. The country's fine jewelry market has been growing steadily in the […]

Winnipeg Free Press: Harry Winston expects dazzling diamond sales as more millionaires emerge

Winnipeg Free Press reports: Harry Winston Diamond Corp. (TSX:HW) expects sales of its luxury jewelry and timepieces to reach $1 billion per year in the next decade as the number of wealthy individuals continues to climb. "There is an enormous concentration of wealth around the world," Frederic De Narp, head of Harry Winston's retail segment, said at the company's annual general meeting Thursday.

Bloomberg: De Beers considers expansion of its Voorspoed Mine as diamond prices climb

Bloomberg reports: De Beers, the world’s largest diamond producer, is considering an expansion of its South African Voorspoed mine to extend the life of the operation by as much as eight years as prices for the gems climb. De Beers will complete a study this year on a proposed expansion that would prolong the mine’s life to “2026 or 2028,” rather than 2020 as currently planned, Mine Manager Mpumi Zikalala said today in an interview at the site near Kroonstad. It’s too early to estimate the cost of the project, which may include an underground section, she said.

African mining, De Beers, BEE – Oppenheimer speaks out

De Beers chairman Nicky Oppenheimer told a Washington audience Thursday that Africa has a bright future if its leaders embrace globalization and allow the private sector to flourish.

Shear Diamonds engages DRA Americas to evaluate Jericho diamond recovery plants

Shear Diamonds has engaged the services of DRA Americas to evaluate the existing diamond recovery plant at the Jericho diamond project, Nunavut. DRA is a world leader in the design and engineering of mineral process solutions with experience specific to Canada’s Northern diamond industry.

Tel Aviv’s Jovella Exhibition to feature innovative design

Jovella 2011, Israel’s 8th international jewelry and diamond exhibition, will be held July 5–6 in Tel Aviv. The exhibition will feature a Designer Boulevard, as well as collaboration with Shenkar College’s Department of Jewelry Design.

Diamond tiara and art deco bracelet top items at Christie's important jewels

Christie's sale of Important Jewels held in London Wednesday totaled $12.3 million, representing 92% sold by value. The top lot was the Rosebery pearl and diamond tiara, circa 1878, which sold for $1.9 million, near […]

Belgium rough diamond exports + 71.7% in May

Belgium imported $1.41 billion worth of rough diamonds in May and exported $1.47 billion in goods, rising 99.3% and 71.7% respectively, according to figures released by the AWDC on Thursday.

IUncertainty after Las Vegas Show Slows Mumbai Market

Polished diamond trading in Mumbai has slowed as a degree of uncertainty has crept in after the initial enthusiasm that was generated by reports of strong polished buying at the JCK Las Vegas show.

De Beers to face price fixing lawsuit after court rejects jurisdiction claim

A British Columbia, Canada Supreme Court said it will hear a lawsuit alleging a conspiracy to increase the price of diamonds by De Beers.

Today in Commodities: USDA big news today

No curve balls from the USDA but as for food prices look for prices to stay elevated. Crude will settle approximately 1% higher in today’s session trading briefly over $102/barrel in the July contract. We […]

Harry Winston Diamond Corporation reports fiscal 2012 first quarter results

Harry Winston Diamond Corporation (TSX: HW) (NYSE:HWD) (the "Company") today announced its first quarter Fiscal 2012 results for the quarter ending April 30, 2011. Robert Gannicott, Chairman and Chief Executive Officer stated, "This quarter's results reflect improving rough diamond prices combined with increasing sales and profit for the luxury brand segment.

Diamdel Opening Dubai Office in August

Diamdel, De Beers' secondary market supplier, will open an office in Dubai in August after it was licensed to operate in the Dubai's Jumeirah Lakes Towers free zone.

Gitanjali Group to Retail Visconti Diamond-Encrusted Pens

The Gitanjali Group, the Indian DTC Sightholder with the large retail presence, announced that it will offer Italian luxury writing instrument brand Visconti through its 600-plus retail jewelry stores across India. The group has tied […]

Botswana Diamonds plc: Cameroon reconnaissance program yields early successes

The board of Botswana Diamonds (AIM: BOD) is pleased to announce that its geologists have identified sequences of sedimentary rock layers in several localities in the east of its Cameroon diamond licence. These layers include a distinct conglomerate horizon, which is geologically correlated with the paleo-conglomerate that C&K Mining has identified as being diamondiferous.

Top 40 mining companies’ 2010 financial results ‘spectacular’-PwC

The top 40 global mining companies are poised to break through the US$1 trillion asset mark this year, due to record levels of cash, property and equipment on balance sheets, says a new PwC report. In their report Mine 2011: The game has changed, PwC called the financial results of the top 40 "spectacular" as total revenues increased 32% to US$435 billion, breaking the $400 billion mark for the first time.

India set to overtake US in diamond jewellery sales

The Rapaport Group, global manager of diamond data and international group of companies, has given a thumbs up to India, the world's largest importer of diamond roughs. With the country's polished diamond exports rising 6% year-on-year to $2.04 billion in April 2011, the agency has forecast that India will overtake the United States and become the biggest consumer market for diamond jewellery over the next three years.

IDEX Online Research: polished diamond prices rise again in May

The IDEX Online Polished Diamond Index averaged 132.1 in May, setting a new record, as polished diamond prices continue to rise. The record surpassed the prior record level both last month and in the pre-recession […]

Stefan Hafner Confirmed For India International Jewellery Week

India’s Gem & Jewellery Export Promotion Council (GJEPC) today formally launched the second edition of its pioneering India International Jewellery Week (IIJW) in Mumbai. Speaking at the launch press conference, GJEPC chairman Rajiv Jain announced […]