RAPAPORT. Belgium’s polished-diamond exports more than quadrupled year on year to $566 million in April, reflecting the comparison with the peak of the 2020 coronavirus crisis, according to data the Antwerp World Diamond Centre (AWDC) released this week. Shipments were down versus March,.
New Gemstone, Jewelry Show to Debut in US
RAPAPORT. A new trade fair focusing on gemstones, jewelry, minerals and fossils will make its inaugural appearance in Colorado later this year.
The HardRock Summit, which will feature over 400 exhibitors, educational seminars and keynote speakers, will run in Denver from September 16 to 21 at the Colorado Convention Center, its founders said last week. The event was created by Christoph Keilmann, the organizer of The Munich Show and Gemworld Munich, and Wolter Mehring, a gemstone expert who helped develop the Pueblo Gem & Mineral Show in Tucson, Arizona.
The summit will be split into two venues, called Evolution and Sparkle & Joy. Evolution will take place between September 16 and 19, and will offer a marketplace for minerals, fossils and meteorites. The Denver Gem & Mineral Show will hold its annual fair in the adjacent space.
Diamond Acquisition Pays Off for Israeli Lender
RAPAPORT. Israeli financial institution Peninsula saw profits surge after the company bought Union Bank’s diamond business last year.
Group-wide income from interest more than doubled year on year to ILS 45.8 million ($14.1 million) for the first quarter ending March 31, Peninsula said last week in a results statement. Net profit rose to ILS 22.2 million ($6.8 million) from ILS 8.1 million ($2.5 million) a year earlier. The September acquisition was the main reason for the spike, the company added.
Peninsula paid Union Bank ILS 76 million ($23.4 million) to buy its portfolio of diamond loans, which totaled around ILS 192 million ($59 million).
Diamcor to Overhaul Facilities at Mine
RAPAPORT. Diamcor is set to expand the processing facilities at its mining project in South Africa, aiming to give output a boost.
The company originally planned to overhaul the Krone-Endora at Venetia asset in 2020, but it delayed the work in order to reduce expenses during the coronavirus pandemic, it said last week. Diamcor expects the expansion to take place in two phases.
During the first phase, the miner will seek to double current processing volumes using new equipment that will allow it to recover and process rough more efficiently and in higher amounts. The company will finish this part of the project before September 30, it predicted.
Fancy-Blue Diamonds to Lead Phillips Auction
RAPAPORT. A matched pair of fancy-blue diamond earrings with an upper estimate of $770,000 will lead the Hong Kong Jewels & Jadeite auction at Phillips next week.
The diamonds, weighing 1.12 and 1.13 carats, have been meticulously cut to maximize their color, the company said recently, calling these stones “one of the most desirable and sought-after of all jewels.”
The blue diamonds have clarity grades in the range of VVS to VS. Offered in two lots, the items will include a 2.21-carat, fancy-blue diamond pendant that is convertible to a ring and has a high valuation of $770,000.
Included in the June 5 sale will be an Asscher-cut, 10.59 carat, D-flawless diamond ring with an upper estimate of $830,000. The type IIa stone has been cut from a 30.80-carat rough from Gem Diamonds’ Letšeng mine in Lesotho, a frequent source of large and high-quality diamonds. Type IIa goods account for fewer than 2% of natural colorless diamonds, P