The world’s largest diamond mining company, the De Beers Group, has relaxed purchasing rules for sightholders in a move to address accumulating inventories.
Brilliant Earth lowered its outlook ahead of the crucial fourth quarter, noting that consumers were hesitant about making purchases.The online-focused jeweler expects full-year sales of $436 million to $446 million, down from an earlier forecast of $450 million to $470 million, it said...
RAPAPORT... Online retailer Blue Nile has begun offering larger and pricier lab-grown diamonds, including for engagement rings.
The e-tailer, which Signet Jewelers acquired in August, lists synthetic diamonds ranging from under 1 carat to more than 4 carats on its “Design Your Own Ring”...
RAPAPORT... Early projections for the US holiday season are upbeat, but that sentiment hasn’t filtered through to the rest of the diamond market, Rapaport’s editorial team observed.
“I was a bit surprised by the optimism,” noted Senior Analyst Avi Krawitz, chatting with News Editor...
RAPAPORT... Attempts to discuss Russia at the annual Kimberley Process (KP) plenary failed after the organization received differing views on whether the matter was under its remit.The European Union (EU) and five national governments wrote to the KP chair ahead of the gathering asking for...
RAPAPORT... The United Arab Emirates (UAE) will become chair of the Kimberley Process (KP) in 2024, trade leaders in Dubai announced following the organization’s plenary meeting.
The UAE will assume the role of vice chair for 2023 and take the helm the following year, in line with KP...
Israel’s diamond shipments slumped in October as religious holidays compounded the negative impact of geopolitical and economic trends.Polished exports fell 24% year on year to $432.8 million for the month, after returns of unsold goods, the Economy and Industry Ministry reported Sunday. Export...
RAPAPORT... De Beers is working on a new testing machine for screening some of the tiniest melee diamonds, claiming the move will help the industry spot synthetic stones more efficiently.
The new instrument will enable fast and automated verification of up to 3,600 stones per hour in the...
Lucara Diamond Corp.’s sales dropped in the third quarter as the company supplied fewer large and expensive stones from its lucrative Karowe mine in Botswana.Revenue fell 31% year on year to $49.9 million, while net profit slumped 86% to $1.8 million, Lucara reported Wednesday.Sales of rough...
The Botswana government has refuted a report that the country might scale back its sales partnership with De Beers.The local Sunday Standard claimed Botswana was expected to offer most of its large stones through parastatal Okavango Diamond Company to a partnership between Lucara Diamond Corp....