Diamond News Today

Blood Diamonds on the British High Streets !

The Editor — Tue, 17 Apr 2012 11:01:28 +0000

Tim Ingle from Ingle and Rhode explains, “The Kimberley Process only addresses diamonds produced in areas controlled by rebel militias. It doesn’t take into consideration violence committed by government forces.It is important that consumers are aware that the Kimberley Process does not guarantee that a diamond is conflict-free. In order to know whether a diamond has been ethically produced you need to be able to trace it back to its source.”

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Belgium’s March Polished Diamond Exports +6%

The Editor — Wed, 11 Apr 2012 11:41:43 +0000

Belgium’s polished diamond exports rose 6 percent year on year to $1.379 billion in March ‎‎2012, data from the Antwerp World Diamond Centre (AWDC) showed. By volume, the ‎exports fell 33 percent to 652,916.33 carats while the average price of the goods ‎increased 57 percent to $2,112.73 per carat.‎

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ALROSA 1Q Sales +5%

The Editor — Wed, 11 Apr 2012 11:40:36 +0000

ALROSA reported that its sales of rough and polished diamonds rose 5 percent year on ‎year to $1 billion in the first quarter of 2012.‎‎ALROSA observed moderate growth of rough diamond prices and the company is ‎expecting that trend to continue in the second quarter. ‎

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ALROSA 2011 Sales Up With 28%

The Editor — Sun, 08 Apr 2012 14:51:33 +0000

ALROSA reported that its diamond sales rose to $4.45 billion in 2011, representing an increase ‎of 28 percent from sales reported the previous year. The company stated it was a record year ‎as both production and profitability rose. ‎

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Potential Inconsistencies Were Recorded in the HRD Laboratory of Antwerp

The Editor — Sun, 08 Apr 2012 12:35:45 +0000

HRD Antwerp announced today that ”potential inconsistencies were recorded” in the laboratory of HRD Antwerp, pertaining to the implementation of ISO procedures as part of the certification of diamonds. In order to guarantee that the issue would be dealt with, HRD Antwerp immediately conducted an internal investigation and terminated the contracts of four staff members.

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THE DEATH OF AIR ZIMBABWE AND MARANGE DIAMONDS .

The Editor — Mon, 05 Mar 2012 08:09:29 +0000

It flew profitably through 23 years of United Nations-imposed sanctions. It carried on without a blip after black nationalist guerillas shot down two of its Viscounts in the late 1970s, the last years of white-ruled Rhodesia.

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Rapaport Weekly Market Comment

The Editor — Thu, 01 Mar 2012 14:15:29 +0000

Hong Kong show OK with steady sales and stable prices improving market sentiment. Buyers remain cautious due to uncertain global economy. Rough trading weak and cutters’ profit margins tight. Israeli tax authorities temporarily suspend investigations and raids as bourse negotiates new tax agreements for diamond trade. India’s new 2% protectionist polished import tax is destroying its role as primary trading center. Indians will sell what they cut, but that’s it. Their global trading will move to Dubai, Hong Kong and other centers. India’s Jan. polished imports plummet 59% to $945M, polished exports -19% to $1.8B, rough imports +7% to $1.1B. Zale 2Q revenue +6% to $664M, profit +6%.

Forevermark Expands in South Africa

The Editor — Thu, 01 Mar 2012 14:14:21 +0000

Forevermark announced a wider partnership for South Africa by adding retailers Ntinga and Shemer in Johannesburg, Peter Gilder in Cape Town and Lorraine Efune in both cities to offer jewelry featuring Forevermark diamonds.

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Israel Suspends Probe For Now

The Editor — Thu, 01 Mar 2012 14:12:56 +0000

Authorities in Israel suspended their investigations into alleged tax evasion and money laundering activity taking place in the Israel Diamond Exchange (IDE) for one month. A professional team will be established in the coming days to negotiate a suitable solution to the affair and to represent the industry in negotiating a long term solution to future dealings with the tax authorities.

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Global Witness Quit Kimberley Process Certification Program

The Editor — Mon, 05 Dec 2011 07:34:18 +0000

Reporting from Africa.

Global Witness announced Sunday that they are quitting any participation in the Kimberley Process certification program due the ongoing sale of diamonds from the Marange diamond fields in Zimbabwe. Zimbabwe is accused of human rights abuses. While many countries come under scrutiny at de Hague court Zimbabwean leaders seem to constantly escape their fate of international prosecution. Roughly four times as much people have died in these regions over the last 25 years in comparison with Iraqi under Saddam Hussein’s rule ?

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