Romania’s Supreme Court has sentenced mining magnate Beny Steinmetz to five years’ imprisonment in a land-fraud case, according to Israeli media.The businessman, who has counted diamond mines among his vast interests, was accused of being involved in corruption carried out by a company for.
RAPAPORT. New York’s Diamond District is set to sparkle on TV this Tuesday night in the documentary series Streets of Dreams with Marcus Lemonis.
The series presenter is a self-declared “champion of entrepreneurs” who is seeking to discover what makes America’s most famous streets tick. As Lemonis walks amid the hustle and bustle of hawkers and diamond dealers on 47th Street, he has one clear goal: to discover how diamonds are priced. He ventures behind the jewelry counter “to crack the code on this notoriously secretive industry.”
Entering the International Gem Tower, Lemonis sits with Reuven Kaufman, president of the New York Diamond Dealers Club (DDC). The fact that the word “mazal” still binds deals with no lawyers or signatures astounds the show host.
RAPAPORT. US consumer confidence fell almost 5% this month amid the latest coronavirus wave, according to the Conference Board.
The business data group’s Consumer Confidence Index declined to 88.6 in December, from 92.9 in November, it reported Tuesday. Americans gave a weaker.
RAPAPORT. BlueRock Diamonds has increased the estimate of total rough carats available at its Kareevlei mine in South Africa, following a recent drilling program at the site.
The results indicate total carats at the mine to be 513,500, a 52% increase over the 367,000 originally forecast in 2018, the company said Tuesday. So far, BlueRock has mined 28,500 carats from the site. The drilling also revealed a 6% improvement in the carat grade.
The increased resources will extend Kareevlei’s mine life, said BlueRock CEO Mike Houston.
“The results generated from the recent drilling are a very important development for BlueRock. The provisional resource estimate would provide for a mine life of a minimum of 10 years,” he noted. “The company expects to undertake further work in 2021…which [is] expected to increase the resource and the life of the mine further.”
How Women Jewelers Are Creating a Legacy In a largely male-dominated industry, female role models can help empower the next generation by sharing knowledge and support. Dec 23, 2020 8:37 AM By Melissa Wolfgang Amenc
RAPAPORT. I decided to join the jewelry business in my late teens. I use the term “decided” loosely, because many will say you don’t choose this business; it chooses you.
I wasn’t an industry kid who had childhood dreams of glitter and gold or who spent weekends and vacations learning the business working for my family. In fact, as a kid, I never knew exactly what my father did. He owned a jewelry store, and there was a leather-walled elevator that smelled like him a mixture of cigarettes and his cologne. It went directly from his office to the ground floor, which seemed