Best Diamonds News Archive
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17 August 2006
Angola Bids for African Diamonds Producers Association
Angola would like to assume the chair of the African Diamonds Producers Association (ADPA,) according to Endiama –Angola’s state diamond producing company.
ADPA aims to gather Africa’s diamond producing countries and large production and distribution companies together in one organization to facilitate and exchange information.
Africa’s main diamond producing countries are Angola, South Africa, Democratic Republic of the Congo, Namibia, Cong Brazzaville, Botswana, Zimbabwe, Gabon, Lesotho, and Togo.
16 August 2006
DTC launches South African Kya Brand
The Diamond Trading Company (DTC), the sales and marketing arm of the De Beers Group, yesterday launched the Kya collection, a line of jewelry aimed at South African women. The brand has been developed in conjunction with four DTC Sightholders, Geffens Diamond Cutting Works, Livingstones Jewellery, KGK Star Rough, and Rosy Blue Manufacturing.
Thoko Modisakeng, DTC marketing manager, South Africa said, “Our task was to create a South African diamond brand that would give a compelling reason to buy diamonds and create huge desire and preference for diamond jewelry amongst the domestic consumer target segment. The brand is meant to provide value to all the stakeholders in the value chain and bring diamonds into the news.”
According to the DTC, the Kya concept "celebrates the success and independence of South African women today. The center diamond represents the power and individuality of women, while the smaller diamonds radiate the beauty, the mystique, the diversity and the brilliance of a diamond in the same way that South African women radiate eternal and everlasting strength."
15 August 2006
DTC launches diamond jewelry concept
The Diamond Trading Company, the sales and marketing arm of the De Beers Group, launched, Kya, the name given to a new concept for a collection of diamond jewelry which the DTC says captures the independent spirit of South African women.
"Our task was to create a South African diamond brand that would give a compelling reason to buy diamonds and create huge desire and preference for diamond jewelry amongst the domestic consumer target segment," said Thoko Modisakeng, DTC marketing manager. "The brand is meant to provide value to all the stakeholders in the value chain and bring diamonds into the news."
This diamond jewelry concept celebrates the success and independence of South African women today, according to the DTC. The center diamond represents the power and individuality of women, while the smaller diamonds radiate the beauty, the mystique, the diversity and the brilliance of a diamond in the same way that South African women radiate eternal and everlasting strength.
The jewelry line is based on the philosophy of wearability, good design, and affordability, according to the DTC.
Kya is available through four DTC Sightholders: Geffens Diamond Cutting Works, Livingstones Jewellery, KGK Star Rough and Rosy Blue Manufacturing.
For more information on Kya diamond jewelry, visit www.kyajewellery.com.
15 August 2006
Rare in Nature Initiative to Help Retailers Sell
A new marketing initiative from Canada will provide retailers with tools, tips and techniques to promote sales of government certified diamonds from Canada. On August 11, 2006, the government of the Northwest Territories, Canada, announced this second phase of a year-old program called "Rare in Nature;" to help diamond retailers sell Canadas certified diamonds.
Eventually, Rare in Nature (rareinnature.com) will offer an interactive on-line news service covering events and developments in the Northwest Territories diamond industry; and offer access to a gallery of images; point of sale display materials; and the provide the inside track and background on diamond-marketing professionals. Rareinnature.com is live today; however, some sections have not been updated with new features as of press time.
Canadas Industry, Tourism and Investment minister Brendan Bell said, "Equipping retailers with information about the Northwest Territories is an equally vital part of the marketing process. This special club will allow retailers to respond to consumer needs with information that is accurate, current and as complete as possible."
The Northwest Territories partnered with Arslanian Cutting Works, Polar Diamond Group, Aurora College, the City of Yellowknife, Northwest Territories Tourism and other partners to establish the club. The program was officially launched during the Jewellery World Expo 2006 in Toronto, which ended August 15, 2006.
16 August 2006
DTCs Rayana Brand Launched in Middle East
The Diamond Trading Company (DTC) recently announced the launch of rayana, a new concept in opulent diamond jewelry design created specifically for the Middle East woman.
"Rayana is a new inspiration for jewelry designers in the Middle East. The design concept from DTC reflects the growing trend among Arab women to want to be the center of attention and turn heads with their individuality," says Jonathan Chippindale, marketing director, DTC Gulf Market.
"The Middle East woman wants to be admired when she attends social events, such as the weddings of friends and family, the birth of a child, anniversary parties and of course, at her own wedding. On this most special day of her life, the bride has all eyes on her and should be adorned with only the most exquisite diamond jewelry that compliments her wedding day glow. Rayana makes its wearer the center of attention with its unique, sleek designs representing cascading waterfalls glittering with diamonds."
The concept of Rayana is based on extensive consumer and design trend research that says Arab women want to emphasize the abundance of diamonds in their jewelry pieces. Therefore, Rayana sets contain more diamonds and less gold.
Rayana diamond sets comprise a ring, a necklace, a bracelet and a pair of earrings as well as a pair of cufflinks for men.
DTC encouraged designers in the region to develop their own products based on the rayana principles of emotional appreciation, eternity and abundance. The Rayana logo is engraved onto each piece in the collection to ensure authenticity.
"Wearing distinctive diamond jewelry is an elegant way for women to express their individuality and Rayana fills this need for uniqueness and attention," added Chippindale.
14 August 2006
New concept in diamond jewellery design for Arab women
New concept in diamond jewellery design for Arab women revealed
Diamond Trading Company (DTC), the worlds leading supplier of natural diamonds, today announced Rayana, a brand new concept in opulent diamond jewellery design created specifically for the Middle East woman.
Rayana is a new inspiration for jewellery designers in the Middle East. The design concept from DTC reflects the growing trend among Arab women to want to be the centre of attention and turn heads with their individuality, says Jonathan Chippindale, Marketing Director, DTC Gulf Market.
"The Middle East woman wants to be admired when she attends social events, such as the weddings of friends and family, the birth of a child, anniversary parties and of course, at her own wedding. On this most special day of her life, the bride has all eyes on her and should be adorned with only the most exquisite diamond jewellery that compliments her wedding day glow. Rayana makes its wearer the centre of attention with its unique, sleek designs representing cascading waterfalls glittering with diamonds."
The concept of Rayana is based on extensive consumer and design trend research that says Arab women want to emphasize the abundance of diamonds in their jewellery pieces. Therefore, Rayana sets contain more diamonds and less gold.
Rayana diamond sets comprise a ring, a necklace, a bracelet and a pair of earrings as well as a pair of cufflinks for men.
The wide variety of designs in the Rayana collection ensures that each set is unique. DTC encouraged designers in the region to develop their own products based on the Rayana principles of emotional appreciation, eternity and abundance.
"Wearing distinctive diamond jewellery is an elegant way for women to express their individuality and Rayana fills this need for uniqueness and attention," added Chippindale. "Embodying abundance and timelessness, the opulence and beauty of Rayana will turn heads with admiration and allow women to express their individuality."
As so many different designers have been involved in creating the Rayana collection, there is an exciting diversity of jewellery pieces in the collection. The Rayana logo is engraved onto each piece in the collection to ensure authenticity.
14 August 2006
Kiwi wives want bigger diamonds
Will you supersize my engagement ring? Josie McNaught finds thats the new question being popped by married women.
For richer...or richer. And when it comes to engagement rings, richer means bigger.
Men are discovering that the small, inexpensive diamonds their brides fell in love with may no longer cut the mustard on the mid-week tennis circuit or with the ladies-who-lunch crowd.
Enter the latest consumer craze in jewellery - the upgrade, in which women have their old engagement rings remodelled, adding bigger sparklier stones.
As one Auckland media maven and jewellery lover put it: "You can tell the age a woman gets married by the size of her diamond."
The younger you were, the smaller it is.
Sally Spicer of Jewellers Workshop in Auckland says sentimentality doesnt really come into it.
"They are sentimental about the wedding ring and will hold on to that, but a bigger, brighter engagement ring is more attractive. And these days women are very insistent about what they want."
Debra Franklin of Auckland didnt even want an engagement ring when she fronted up to Chelsea Registry Office in London 20 years ago to marry Anthony. br>
"Id been engaged twice before, and had two rings. So I opted for a combined engagement-wedding ring which had six diamonds on a band."
And for years that was fine. But tastes and circumstances change - and Franklin wanted to reflect that in her ring.
"Anthony went to Amsterdam on business and brought back a beautiful diamond." Hey presto. Upgrade. That was six years ago and Franklin reckons she can probably handle an even bigger diamond now.
Gemologist Angela Daniel says changing fashions in jewellery settings are a factor.
"With new technology you can make a new setting thats nice and simple and shows off the diamond really well." And yes it often is a bigger, better rock, with the old one relegated to a simple pendant.
Spicer says younger people are spending more on their engagment ring. "Our most popular engagement ring is a classic one carat solitaire Tiffany-style diamond which will set you back between $8000-$12,000 depending on the size of the diamond."
Customers at Hartfield Jewellers in Parnell, Auckland, dont demand upgrades, but manager Margaret Foley says when the engagement ring is bought, a certain amount of trading takes place. "She will get the ring she wants, but hell say: Im having a new set of golf clubs or a Ferrari, if youre having that."
Rebecca and James Melton of Auckland were engaged for a year, and after James shelled out $5000 for her engagement ring, he reckoned he ought to get something in return. Rebecca saved $4000 for James engagement watch - an Omega Seamaster made famous by James Bond - and sent it to him on the day of their wedding in Fiji.
"Surely the guy should be getting something in return," he says.
12 August 2006
Botswana, De Beers Eyes on Diamonds
Luanda, Aug 12 (Prensa Latina) The government of Botswana announced Saturday its deal with South Africa´s De Beers diamond firm, materializing an old aspiration to commercialize the uncut precious stone.
The deal will be very beneficial for Botswana, according to a release by the Energy and Mining Ministry.
Botswana is the world´s first diamond producer; De Beers firm is the largest diamond trader of the world.
The contract has triggered criticism in Africa, since it proves the continent has been left out of the industrialization process of its own natural resources.
12 August 2006
Lab diamonds on offer
Diamonds made in just 48 hours in laboratories will soon be on sale in Dubai, reported Gulf News. South Africas Ideal Cultured Diamonds has developed a process to produce artificial gems and plans to turn the stones into jewellery, opening three retail stores in Dubai in the next 12 months. A one carat artificial diamond costs around $5,000, about a fifth of the price of a similar sized natural stone.
12 August 2006
Scarce diamonds take on an extra lustre for investors
Soaring demand and falling output make the gems a sparkling performer.
FOR the first time in 25 years, diamond production is declining, and that may make the worlds most coveted stones a better investment than copper, nickel and zinc, this years top-performing commodities.
Output from diamond mines worldwide is likely to fall 2 per cent by 2015, says James Picton, a diamond analyst at W.H.Ireland who has been following the industry for 35 years. Production has increased about 9 per cent in the past five years, according to the New York-based World Diamond Council, as mining companies hurried to find new deposits to meet soaring demand.
The drop in production comes as purchases of the stones rise, helped by the booming economies of China and India. China alone has doubled jewellery purchases since 2001 and may buy 20 per cent more this year, according to London research firm Diamond Forecast.
Diamonds have "the best fundamentals", said Evy Hambro, who manages the $US6.6 billion ($8.6 billion) World Mining Fund in London for Merrill Lynch. "The gap between supply and demand is much bigger relative to other commodities."
Rough, or uncut, diamonds dont trade on commodity exchanges. Instead, the Johannesburg-based De Beers, which sells 60 per cent of the worlds uncut gems, holds 10 sales a year, known as sights, to a select group of customers called sight-holders from the diamond-cutting countries.
Ian Henderson, who manages $US2.5 billion in natural-resource assets for JPMorgan in London, says he has increased his diamond share holdings to 4 per cent from 1 per cent in the past year.
"I am very positive about diamonds, given the overall supply-demand situation," says Henderson. "Of the 170 diamond companies out there, only 25 are actually producing."
One of those is Dublin-based African Diamonds, whose shares almost tripled this year. Another is Sierra Leone Diamond Co, a British company operating in West Africa, whose stock has also tripled.
Shares of Petra Diamonds, another UK explorer in Angola, South Africa and Botswana, have risen 52 per cent. By contrast, the Bloomberg World Mining index of 48 companies, including OAO GMK Norilsk Nickel, the worlds No1 nickel producer, is up 21 per cent.
John Teeling, chairman of African Diamonds, which made its first and only diamond mine discovery two years ago in Botswana, says: "There are no big mines out there in the foreseeable future. Wed be very lucky to find a second."
Declining production is a boon for retailers. Consumers bought $US70 billion of diamonds worldwide last year.
Retailers including De Beers and Tiffany & Co aim to increase that figure this year with new stores from Wall Street to Beijing. De Beers plans to open 20 new jewellery stores this year and next with LVMH Moet Hennessy Louis Vuitton.
The value of rough diamonds is likely to increase 30 per cent in the next six years, says James Picton. His research shows that diamonds have provided better returns than gold since 1948.
Diamonds, the hardest substance in the world, formed in primeval carbon rock structures known as kimberlites at least 150km underground.About 7000 kimberlites have been discovered but only 15 per cent bear diamonds. Since the first were discovered more than 2000 years ago in India, the world has produced 380 tonnes of diamonds.
The scarcer they are, the higher the price. The average value of the 114 million carats (50 pounds) of diamonds sold worldwide each year is little more than $US7 billion, according to the World Diamond Council. In 2000, when 110 million carats were produced, the value was $US7.8 billion.
"Diamonds could very well outperform base metals" in the coming years, says London fund manager Andrew Ferguson. "Given the huge increases in demand and the imbalances in supply, I expect good returns."
However, one threat to rising prices is the growth of synthetic diamonds. Since 1955, when General Electric developed a process to develop synthetic gems for use in drilling, cutting and grinding tools, the use of non-natural gems has soared, today accounting for about half of all diamonds.
Industrial use of diamonds accounted for 25 per cent of supplies by weight or 5 to 10 per cent by value, according to www.internationaldiamond. Gemesis Corp, producer of most of the worlds synthetic gem-quality diamonds, says it will raise output about eightfold in 2006 from last year to take advantage of rising prices.
The rally in commodity markets, now in its fifth year, has sent prices for raw materials to records. Copper has more than doubled in price in the past year. Nickel is up 77 per cent. Gold has surged almost 50 per cent and reached a 26-year high in May.
"To have matched the average diamond price increase since 1948 gold would have to be around $US750," says W.H.Irelaands James Picton. "To have matched a basket of the finest, largest quality gems, gold would have to be around $US2000."
Diamond investments will enjoy "above-average" returns in the next several years, according to Trevor Steel, who manages $US600 million in natural resources assets at Baker Steel Capital Managers in London. "Prices of diamonds and precious metals generally are more resilient to the short-term effects of an economic slowdown compared with base metals."
Picton says falling production, led by declines at the biggest producers, including Rio Tintos Argyle mine in Western Australias Kimberley region, the worlds largest, will leave $US10 billion of demand unfulfilled. The drop will occur even after Botswana boosted output 17 per cent last year. The nation, the worlds biggest producer of diamonds, accounts for 25 per cent of the gems.
"In order to meet the shortfall, you would have to find at least another Botswana, or better yet, two," says Picton. "It cant be done."
Canadas Ekati mine, run by BHP Billiton, will be depleted by 2015, he says. Ekati, which produces about $US700 million of rough gems a year, is expected to last until 2017.
Rios Diavik mine in Canada will drop "sharply", says Picton. Rio plans to spend $US910 million to extend the life of its Argyle mine to 2018.
"The really tricky bit with diamond exploration companies is finding a kimberlite that is actually economically viable," says Sacha Borthwick, an analyst at stockbroker Hargreave Hale in London. "The odds of that are very low."
Diamond miners are spending more to find the stones. De Beers plans to invest $US175 million in opening South Africas Voorspoed mine, which was closed 97 years ago, and a further 1 billion rand ($200 million) on a project on the seabed off South Africas coast. In Canada, De Beers is spending $US1.8 billion digging the Snap Lake and Victor mines.
"Diamond stocks have underperformed other mining stocks in this commodity bull run," says New York-based James Passin, whose $US500 million Firebird Global Fund has a 10 per cent holding in diamond stocks. "This is about to change."
11 August 2006
Diamond legend Bram Laub dies
Diamantaire Abraham (Bram) Laub died on August 9 in Antwerp.
Both dealer and manufacturer, his speciality was large rough, an area he dominated for many years.
A legend in his own lifetime, Laub was widely respected and highly regarded by friends and competitors alike.
“He was brilliant,” said one trader. “He could assess a parcel of diamonds in a matter of seconds and put a price on them that everybody agreed.”
“Laub was a diamond man to his fingertips,” was another comment, “but he was much more. He was an honourable man, a member of the old school who would give generously to charity and to others who needed financial help.”
11 August 2006
Ideal Cultured Diamonds Plans Stores for Dubai
Dubai has made a name for itself as a natural diamond trading center, and now the South Africa-based Ideal Cultured Diamonds company plans to enter the Dubai market as well. During the upcoming 12 months Ideal Cultured Diamonds is planning three retail outlets in Dubai.
Ideal Cultured Diamonds chairman Alan Blom told ITPBusiness news in July that his decision to move to Dubai followed a near miss with death. Blom was an apparent victim of a drive-by shooting in South Africa in which a bullet narrowly missed hitting his skull. The entrepreneur decided then that he wanted to live in a safer environment.
Blom expects to launch a marketing campaign called Perfect Cultured Diamonds in Dubai where he said that consumers desire "perfect things. Dubai loves everything new and is less concerned with the constraints of tradition." For the long term, he said man-made diamonds could capture as much as 7 percent of the worlds diamond demand by year 2010.
Blom is also vice chair of the newly launched Cultured Diamond Foundation, which was launched in South Africa June 28, 2006.
10 August 2006
Diamonds washed away in floods
DIAMONDS worth millions of dollars have been washed away in severe flooding in Surat, India’s gem-cutting and polishing hub, which is under as much as 22ft (7m) of water after more than two weeks of heavy rainfall.
About 90 per cent of the city, in the western state of Gujarat, was submerged yesterday, forcing diamond merchants on to the roofs of their houses and closing hundreds of factories.
Three days of swirling floodwaters have damaged cutting and polishing machines, which are not expected to be operational for another three weeks, resulting in an estimated loss of at least $500 million (£262 million).
Surat accounts for 55 per cent of the annual $12 billion Indian diamond export industry, according to the Gem and Jewellery Export Promotion Council.
Most of the factories were able to move their gems to safety but some stock is likely to have been washed away. “There is a possibility of some loss of raw material but not much compared with the damage caused to equipment,” Bakul Mehta, the chairman of the council, said. “It is very bad news for the industry but this is Nature.”
The immediate concern was to get relief to nearly 400,000 stranded workers and the wider population of more than 3 million. Army helicopters plucked people from rooftops and dropped supplies as waters overflowing from the nearby Ukai dam surged into the city. Kaushik Patel, the Revenue Minister of Gujarat, said that 10 million people were seriously affected and more than 5,200 Surat residents had been rescued from life-threatening situations.
Across the country 574 people have died in the floods that have also shut gas and petrochemical providers. The disruption to fuel supplies has closed pharmaceutical, fertiliser, iron, steel and cement-grinding plants. Economists said that the devastation could equate to 0.5 per cent of GDP.
10 August 2006
DIAMONDS ARE MADONNAS BEST FRIENDS
MADONNA has long been a fan of Chopard – she wore its baubles to the launch of her new album, the Brits, the Grammys and at the Oscars. And now the French jewellery house has designed the worlds most famous singer her very own necklace. Caroline Gruosi-Scheufele designed this stunning necklace, to celebrate the title - Hung Up - of the hit song on Madonnas latest album, Confessions On A Dancefloor. In 18 ct white gold set with 1.95 cts of white diamonds, it features a mobile diamond mounted on an Indian-style chain of eight brilliants. Look out for it on stage during the current world tour.
8 August 2006
Big diamonds are a mines best friend
Nunavuts first diamond mine is producing some pretty impressive stones right from the start.
Officials with the Jericho diamond mine say in June miners found a 59-carat, high-quality diamond worth about $400,000. The diamond is about 2.5 centimetres in diameter, the size of a large marble.
Grant Ewing, who speaks for the Tahera Diamond Corporation, says they were expecting to find some big diamonds from the mine, which opened for commercial production on July 1.
"These large-value gems are really the bread and butter, the real payback diamonds," he said. "So it says that this diamond mine can produce large, high-value stones, so were quite optimistic about the future."
The miners also found two lower quality diamonds which were over 100 carats each.
Ewing says they believe the two diamonds were one, but they were split up during processing.
The Jericho mine is located about 400 kilometres northeast of Yellowknife, just over the border from the N.W.T., in Nunavut.
8 August 2006
Output slump makes diamonds a top investment
FOR the first time in 25 years, diamond output is declining and that may make the world’s most coveted stones a better investment than copper, nickel and zinc, this year’s top-selling commodities.
Production from diamond mines worldwide is likely to fall 2% by 2015, says James Picton, a diamond analyst at WH Ireland who has been following the industry for 35 years.
Production has increased about 9% in the past five years, according to the New York-based World Diamond Council, as mining firms hurried to find deposits to meet soaring demand.
A rally in prices will fuel earnings for producers African Diamonds and Petra Diamond, according to Merrill Lynch and JPMorgan Chase. The drop in production comes as purchases of the stones rise, helped by the booming economies of China and India.
China alone doubled jewellery purchases since 2001 and may buy 20% more this year, according to Diamond Forecast, a London-based research firm.
Diamonds have “the best fundamentals”, said Evy Hambro, who manages the $6,6bn World Mining Fund in London for Merrill Lynch. “The gap between supply and demand is much bigger relative to other commodities.”
Rough, or uncut, diamonds do not trade on commodity exchanges. Instead, Johannesburg-based De Beers, which sells 60% of the world’s uncut gems, holds 10 sales a year, known as sights, to a select group of customers called sight-holders from countries known for diamond cutting, including Belgium and Israel.
That leaves shares of diamond producers as the easiest way to invest in the gems.
Hambro, with 1,5% of his assets in diamond firms, said he would buy shares of Germiston-based Gem Diamond Mining, which goes public this year, and Toronto-based Aber Diamond.
Ian Henderson, who manages $2,5bn in natural-resource assets for JPMorgan in London, said he had increased his diamond-share holdings to 4% from 1% in the past year.
“I am very positive about diamonds, given the overall supply-demand situation,” said Henderson. “Of the 170 diamond companies out there, only 25 are actually producing.”
One of those is Dublin-based African Diamonds, whose shares almost tripled this year. Another is Sierra Leone Diamond, a UK-based company operating in west Africa, whose stock has also tripled. Shares of Petra Diamonds, a Jersey, UK-based explorer in Angola, SA and Botswana, have risen 52%.
By contrast, the Bloomberg world mining index of 48 companies, including Norilsk Nickel, the world’s number one nickel producer, is up 21%.
“There are no big mines out there in the foreseeable future,” said John Teeling, chairman of African Diamonds, which made its first and only diamond-mine discovery two years ago in Botswana. “We’d be very lucky to find a second.”
Declining production is a boon for retailers. Consumers bought $70bn of diamonds worldwide last year, Picton said.
Retailers including De Beers and Tiffany aim to increase that figure this year with new stores from Wall Street to Beijing. De Beers plans to open 20 new jewellery stores this year and next with Paris-based LVMH Moet Hennessy Louis Vuitton.
“There’s something about diamonds that’s completely seductive,” said Stephen Webster, who designed the wedding rings for singers Madonna, Pink and Christina Aguilera.
The value of rough diamonds is likely to increase 30% in the next six years, says Picton at Manchester, England-based WH Ireland. His research shows that diamonds have provided better returns than gold since 1948.
Diamonds, the hardest substance in the world, were formed in primeval carbon rock structures known as kimberlites at least 150km underground.
Volcanic activity brought the gems closer to the surface, and the first were found in the river beds of India’s Golconda region.
About 7000 kimberlites have been discovered but only 15% bear diamonds.Since the first were discovered more than 2000 years ago in India, the world has produced 380 tons of diamonds.
The average value of the 114-million carats of diamonds sold worldwide each year is little more than $7bn, according to the World Diamond Council.
8 August 2006
US$28 MILLION WORTH OF ROUGH DIAMONDS SOLD AT RUSSIAN AUCTION
Alrosa, Russias Yakutia-based diamond monopoly, sold some US$28 million worth of rough diamonds at the 16th international diamond auction for special-sized diamonds hosted by the Russian Diamond Chamber in Moscow.
Representatives of 44 Russian and foreign companies from Israel, Belgium, India, China, Japan, and the United States, all specializing in manufacturing large-sized goods, participated in the auction as bidders.
152 boxes, containing 1,286 diamonds, with a total weight of 21,600 carats, were offered, and 144 were sold. Diamonds on offer included 17 diamonds weighing more than 50 carats each, while the heaviest diamond on offer weighed a massive 100.63 carats.
7 August 2006
Diamonds as an investment
Diamonds are convertible worldwide and are the only gemstones that adhere to international standards.
Do some research in the market before purchasing diamonds.
Be aware that any investment involves some degree of risk.
Avoid short term investment in diamonds. A clever investor may find that he can turn illiquidity to his advantage, but this will also require patience.
Be patient and wait until the right investment opportunity arises. Wait till the investment can be resold and liquidated profitably.
A smart investor should buy diamond jewellery which are out of fashion, and resell them when the demand is stronger.
If an investor wishes to work with a jeweller, he should be prepared to make rapid decisions, as buying opportunities may be transient.
Daily News & Analysis - Mumbai,India
7 August 2006
Mughal jewellery at Antwerp Diamond Museum
Gold sarpech or turban ornament set with rubies, emeralds and diamonds, c. 1900.
From October 1 to December 31 Antwerp’s Diamond Museum is displaying Mughal jewellery from India.
Called Babur’s Legacy, the exhibition takes its title from Babur (1483-1530) who conquered India and founded the Mughal Empire (1526-1857).
He was the one who was given the Koh-I-Noor (Mountain of Light) diamond, which now forms part of the British crown jewels in London.
Babur’s heirs shared his love of jewellery which became legendary all over the world in the 18th and 19th centuries.
Among the objects on show are aigrettes, which are a European interpretation of the Indian sarpech or turban ornament.
Originally, egret feathers were used in aigrettes but for practical reasons, these were replaced by more durable materials for headpieces worn by women as well as men.
All the jewellery reflects the Mughal style, inspired by a combination of Persian, Indian and Islamic elements, using a mixture of enamel, precious stones - especially diamonds - gold and pearls.
For more information telephone:
+32 3 202 48 90
or email: email@example.com
or visit: www.diamantmuseum.be
(from October 2006)
4 Aug 2006
Significant diamond find prompts mining hopes
Diamond mining in South Australias Flinders Ranges is a step closer after the discovery of 30 diamonds.
Resources company Flinders Diamonds has been exploring the region for the past five years, but this is its most significant find.
Managing director Dr Kevin Wills says other results are yet to be studied, but so far the news is good.
"Each of these samples were treating has got the chance of being an economic sample," he said.
"Soon as we get to that stage, then well convert to doing a feasibility study rather than an exploration program and thats what we trying to find.
"Were trying to find a result that looks economic then we can look into developing a mine."
ABC News Online
Making diamonds an African countrys best friend
Creamer Media’s Mining Weekly Online
The governments of Angola, Sierra Leone, and Tanzania, have started discussions on creating an “Association of African Diamond Producing Countries”.
These talks were initiated last month in Freetown, the capital of Sierra Leone, during a visit by Angolan Geology and Minerals Minister Manuel Africano; Tanz-anian officials were reportedly also present. The Angolan delegation also included officials from the country’s Ministry of Foreign Affairs and from the State diamond company, Endiama.
Endiama is a partner in all major diamond-mining ventures and operations in Angola.
According to the Angolan government, the idea for such as associ- ation came from their President, José Eduardo dos Santos, and the hope is that the creation of such an organisation will stimulate the sustainable development of the diamond sector, and reduce the misuse of the precious stones to finance civil wars or to create pockets of political instability in Africa.
Angola and Sierra Leone both, of course, had the bitter experience of seeing their diamond production appropriated, in part or in whole, by rebel forces who then used them to finance their insurrections.
Although this has not been the experience of Tanzania, that country is an immediate neighbour of the Democratic Republic of Congo (DRC), and rebel forces in the eastern DRC have also used the country’s own natural resources to fund their uprisings against the central government.
These horrors belong to the very recent past, a fact emphasised in June, when the UN Security Council voted unanimously to maintain a ban on the export of diamonds from Liberia.
This vote was taken in order to pressure the (now democratic) Liberian government to effectively adhere to the Kimberley Process of certifying the origin of diamonds.
The Kimberley Process was developed to both protect the legitimate diamond-mining industries of countries like Botswana, Namibia and South Africa, and prevent rebel groups from selling diamonds obtained illegitimately.
The UN vote means that the diamond export ban on Liberia will run until the end of this year; this will mean that diamond exports from that country will have been forbidden for five years.
Meanwhile, in Luanda, in the last week of July, Angolan Prime Minister Fernando Dias dos Santos announced that, over the previous 12 months, the government had collected $930-million in taxes, royalties, and other receipts, from diamond-sector activities in the country.
Angola hopes to double its production of diamonds by the end of this year, which should take national production of the precious stones to some 13-million carats a year.
Sierra Leone’s official dia- mond exports in 2005 were worth more than $140-million, up from $126-million in 2004; in 2001, there were almost no official diamond exports at all (the civil war was ended by British military intervention in 2002).
The bulk of Tanzania’s diamond production comes from one mine – the Williamson diamond mine, which is today 75%-owned by De Beers and 25% by the Tanzanian government.
The Williamson diamond mine is currently engaged in a project to construct a new processing plant which, once completed, in December 2008, will be able to process 16-million tons of material annually, increasing diamond production to one-million carats, and quadrupling the country’s income from the sector.
3 Aug 2006
ASHANTI DAZZLED BY OPRAHS DIAMONDS
R+B singer ASHANTI was shocked when she attended talk show host OPRAH WINFREYs Legends Ball and was handed a pair of diamond earrings. The FOOLISH singer was a guest at the event, which honoured famous African American women, last May (05). She explains, "It was amazing. I was so excited and nervous all at the same time. It was a whole extravaganza. The whole weekend we were in Santa Barbara (California). "We were going to meet these iconic women from DELLA REESE to CICELY TYSON to ROSA PARKS. It was such an overwhelming, wonderful, wonderful experience. "Oprah gave out diamond earrings - they were chandelier earrings - black diamonds on one side and white diamonds on the other - like two toned. "They were incredible! When I first looked at them Im like, Oh, its not real, but its pretty! and then Oprah was like, Yeah, theyre real! "But everyone was thinking the same thing, Theres no way that you would actually go out and buy this many pairs of diamond earrings for all of these women, but thats Oprah!"
2 August 2006
Smuggling Diamonds in His Brief(ka)
Authorities in Brazil have arrested a 38-year-old man for smuggling hundreds of diamonds, worth an estimated $200,000, hidden in his underpants.
The man aroused the suspicion of police officers during a routine road check in the remote Amazon state of Rondonia owing to his extreme nervousness. A search of the mans car revealed diamond measuring tools.
Due to frequent illegal diamond prospecting on lands in the area, the police also decided to conduct a body search.
The search yielded 666 rough diamonds – stashed in the mans underpants. The diamonds are believed to have been smuggled out of an Indian reservation of the Cinta Larga tribe in Rondonia, said a state police spokesperson Tuesday.
Illegal diamond mining activities on Indian lands in the region have flared into deadly violence following attacks on diggers by indigenous tribes.
1 Aug 2006
Mumbai Designer Uses 14,080 Diamonds for Twin Towers
Mumbai Designer Uses 14,080 Diamonds for Twin Towers
Diamonds.net - New York,NY,USA
To mark the 100th anniversary of the JA New York Show and to commemorate the tragedy befallen New York City on September 11, 2001, jewelry designer Nayna Mehta created what she calls Twin Towers. The piece, showcased at JA New Yorks new products section, was on display at the Jacob Javits Convention Center throughout the four-day trade show beginning July 30, 2006. (To view full image of the Twin Towers scroll to the end of the story.)
Twin Towers has an 18 karat yellow gold base and supporting structure for 14,080 diamonds (total weight 255 carats.) The floors of both towers are represented using 110 rows of diamonds, using princess cut stones measuring 1.4mm each. At the base of the World Trade Center replica, Mehta inscribed a poem she wrote in memory of nearly 3,000 lives lost.
Designer Nayna Mehta and Twin Towers. The following poem, written by Mehta, is engraved on the base:
Those innocent souls, we never forgot
United us all in a single breath.
We shed not tears, only our doubts,
Vowed to destroy all vicious clouts.
Stronger we rose, with a will so bold,
As hard as diamonds and as pure as gold.
Victorious we emerged, its plain to see,
So come join this anthem and sing with me.
God Bless America
"The memory of those people --just like diamonds-- are forever," Mehta said during an interview with Rapaport News at JA New York. From the projects inception, Mehta estimates it took almost six months to design, create, and build the Twin Towers.
Mehta has been a jewelry designer for some 30 years and operates out of Mumbai where she is the director of Aura Jewellery PVT LTD and has partnership with Bombay Jewellery Manufacturers.
To recreate the Twin Towers she used a variety of techniques including invisible setting and gold rolling. The Twin Towers was manufactured using the lost wax casting technique that involves setting the diamonds in wax while the surrounding parts were all hand made. The entire process engaged some 38 artists, designers, and technicians. The piece is mounted on a rosewood base and encased within a removable acrylic box.
There were some obstacles Mehta and her team had to overcome, she said, in particular it was a challenge working with invisible setting techniques. Procuring the correct diamonds according to Mehtas strict specifications of size, color, and clarity was not easy either.
Mehta said that a percentage of proceeds from the eventual sale of the Twin Towers would be donated to a cause in support of those victims from the World Trade Center disaster.
Her husband, Samir Mehta, who acts as advisor to Aura Jewellery said that launching Naynas commemorative piece was a first -- as was the couples inaugural participation at JAs summer show. While their jewelry pieces --consisting of earrings, necklaces, rings, and bracelets-- have been displayed at the show through wholesale partnerships in the past, Samir was pleased with his first experience as an exhibitor.
The general state of the industry continues to overcome shock from gold prices Samir said, and it is anyones guess when prices will stabilize. The rise in gold during the second quarter of 2006 hit manufacturing costs especially hard and pushed price points past what consumers could digest. "Consumers have a difficult time when jewelry prices go up and all they see is that their electronics’ prices are going down -- their view is that everything should be going down," he told Rapaport.
Jewelers must think of new ways to drive up demand without sacrificing quality of design Samir said. He used one example, which is working in the Southern Hemisphere, to prove his point. While Christmas season is traditionally hot for jewelry --especially in the United States and Europe-- the gift giving season is sparkling with Santa Claus and snowmen scenes Samir said.
"That doesn’t work in the south when it is summertime at Christmas." Samir found that jewelers in the Southern Hemisphere have shown some success in driving demand during mid-year, or when their region is in full winter season and consumers are in more of a shopping mood.
"It is these things we must use to innovate the industry without sacrificing a piece" due to higher operating costs and continued volatile gold prices, he said.
The Mehtas have been experimenting away from gold with some designs being created using silver with diamonds. Nayna said that the verdict is still out on whether or not such a combination would remain popular with consumers for the long term.
The couples son, Nihar Mehta, is a partner in Bombay Jewellery Manufacturers and said that the trends of 2005 continue to hold for 2006. In particular: Diamond jewelry demand in Europe is a little slower than in the United States, but in Europe the demand is clearly leaning towards "highest quality no matter the price."
In the United States buyers continue to look for ways to trim costs, which often translates into pieces with lower grade diamonds, he said.
1 Aug 2006
Arabs spend up to $2bn yearly on diamonds
Arab nationals spend close to Dh7.3 billion ($2 billion) on diamonds every year, making the Gulf the fourth-largest market in the world, with Dubai taking the lions share of the business.
"The diamond jewellery market in the Gulf region has increased by 47 per cent or almost half in the past four years and is now the fourth-largest diamond market in the world," Jonathan Chippindale, marketing director for Gulf Markets of The Diamond Trading Company (DTC), the diamond marketing arm of the De Beers Group of companies, was quoted as saying in a Gulf News report.
"Arab nationals are passionate about diamonds and spend close to $2 billion on diamonds in this region. Unique to this region is diamond jewellery sets. They represent 55 per cent value share of all diamond jewellery sales, at an average price of $6,000 (Dh22,000) per diamond jewellery set."
De Beers entered the UAE in 2000 at a time when Dubai was looking to consolidate its position as a regional hub for gold and diamond jewellery.
The emirate later set up Dubai Multi-Commodities Centre (DMCC) to further consolidate its position.
De Beers reported sales of $3.25 billion in their six-month interim results this week, the second highest on record, despite difficult trading conditions in the rough diamond market.
31 July 2006
De Beers mid-year results show strong diamond sales in challenging market
[Monday, July 31, 2006 1:13:00 pm]
De Beers has announced sales of US $3.25 billion in their six-month interim results this week, the second highest on record, despite difficult trading conditions in the rough diamond market. This was in the context of a reported overall growth in consumer demand for diamond jewellery of 3-4% on the record levels of 2005. Expectations remain positive for diamond sales in the second half of the year, with the growth forecast in the region of 5-7% for the whole year.
At the results presentation, Nicky Oppenheimer, Chairman of De Beers, reiterated the importance of diamonds to the economies of Africa’s major producer countries, commenting that, “At a time when issues of African trade and aid are in the news, let us not forget that diamonds have made a major contribution to countries in Southern Africa, such as Botswana, South Africa or Namibia, enriching those nations and transforming the lives of their citizens.” He continued by commenting that, “Diamonds play a leading role in helping to rebuild countries ravaged by civil war, particularly in Angola, Sierra Leone and the Democratic Republic of Congo (the “DRC”). Elections are currently taking place in the DRC which is a first step on the road to democracy and diamonds have a huge role to play in fostering that democracy.”
The results presentation also highlighted key operational milestones for De Beers in the past six months including:
• On 14 April, the sale of 26% of De Beers Consolidated Mines (DBCM), the South African Mining Arm of De Beers, to Ponahalo, a broad-based black empowerment company.
• On 23 May, the signing of a historic suite of agreements between De Beers and the Government of Botswana including the renewal of the Jwaneng mining licence for a further 25 years.
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