Lucapa Diamond Company has unearthed a 138-carat rough diamond from its Lulo alluvial mine in Angola, it said Thursday.The company found the stone at the site’s Mining Block 46 portion of the mine, which is adjacent to the area where Lucapa is conducting its exploration for the primary source,.
RAPAPORT. De Beers has revamped the management of its Tracr blockchain platform as the project moves into its second stage of development.
Wes Tucker, the miner’s senior vice president of digital transformation, took over as Tracr’s head earlier this year, a De Beers spokesperson confirmed to
Rapaport News this week. He replaced Jim Duffy, who had been general manager of the platform since mid-2018.
De Beers launched Tracr in January 2018 with the aim of creating a tamper-proof record of a diamond’s journey through the supply chain. The platform is now shifting from phase one which focused on developing the technology solution to phase two, which concentrates on proving the value of end-to-end tracking using mainly De Beers’ own production, the spokesperson explained. The company is installing a new leadership team to execute this phase, he added.
RAPAPORT. A royal tiara “tried on” over 22,000 times on Instagram sold for more than $1 million at Sotheby’s on Tuesday, making it one of the top-grossing lots at the Geneva auction.
The headpiece, which became Sotheby’s most popular augmented-reality filter on social media, brought in $1.6 million just over its high estimate at the May 11 Magnificent Jewels and Noble Jewels sale. That price is one of the highest paid at auction for a tiara in recent years, Sotheby’s said Tuesday. In total, the auction garnered $56 million.
Purchased by a private Asian buyer, the diamond and pearl tiara had most likely been presented to Maria Vittoria dal Pozzo on her marriage to Amadeo I of Savoy, duke of Aosta, who later became the king of Spain.
RAPAPORT. India’s jewelry industry could lose business to rivals such as China and Mexico if the US goes ahead with its proposed new tariffs on the sector, industry leaders warned this week.
Fresh import duties would jeopardize jobs and the well-being of the industry in both India and America, officials from the southern Asian nation said Monday in a meeting with the US Trade Representative (USTR).
The calls come after the USTR threatened to levy punitive tariffs of up to 25% on 17 jewelry categories originating in India, as well as on certain goods from other countries. The action, which it announced in March, was a response to e-commerce taxes in those jurisdictions that targeted online retailers. The proposed tax excludes loose diamonds.
RAPAPORT. The Coloured Gemstones Working Group (CGWG) has launched a platform that will provide free resources on sustainability and other issues to all those who work with colored gems.
CGWG was started by jewelry retailers Chopard, Kering, LVMH, Richemont, Swarovski, and Tiffany & Co., as well as colored-gemstone miners Gemfields and Muzo, with the goal of creating positive change in the industry, CGWG said last week.
The Gemstones and Jewellery Community Platform includes guides to help businesses learn more about responsible sourcing, due diligence, human rights, labor rights and environmental protection, based on Responsible Jewellery Council (RJC) and World Jewellery Confederation (CIBJO) standards. It also provides self-assessment tools that can help businesses dealing in colored gemstones gain a deeper understanding of where they are successful, or improving in these efforts. Businesses can collaborate with their suppliers and customers through the platform’s community s