Finsch to Close as Small Stone Prices Collapse
August 10, 26
Petra Diamonds is to close its Finsch mine, in South Africa, blaming a collapse in demand for smaller rough. The decision follows the failure of a business-rescue process to find a viable way to restart mining. Creditors approved a plan on 7 August for the ... Read More...
Russia to Create "Europe's Largest Diamond Cutting Cluster"
August 10, 26ussia is to create what it describes as the largest cluster of diamond-cutting facilities in Europe, in a move aimed at retaining more value from its stones. The cluster will combine Alrosa's Kristall cutting plant in Smolensk with facilities in the Republic ... Read More...
Non-Bridal Sales Boost Brilliant Earth's Sales
August 09, 26Brilliant Earth's second-quarter sales rose 5.7% year on year to $115.1 million, as the U.S. jeweler benefited from higher average order values and continued growth in non-bridal fine jewelry. The result exceeded the company's guidance range, despite a 2.1% ... Read More...
Weird World: Staff Recover Jewelry Stolen by a Rat
August 09, 26Staff at a jewelry store in India were baffled when a dozen gold rings and chains went missing, with no sign of a forced entry. Then they checked the surveillance TV and were astonished to see the culprit was a rat. Workers later recovered the missing items... Read More...
Another Monthly Rise in Hong Kong Jewelry Sales
August 06, 26Sales of jewelry and other hard luxury goods in Hong Kong increased yet again in June for the 13th consecutive month. The year-on-year increase was 20.1%, to HKD 5.49 billion (USD 700 million), the Census and Statistics Department (C&SD) said in... Read More...
Memo by John Jeffay
August 06Pop star announces engagement to an NFL quarterback on social media, shares a picture of her ring online and sparks a frenzy of speculation about the size, cut and price of the diamond. Sounds familiar? No, it's not Taylor Swift. This time it's... Read More...