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DiamondCorp reported continuing mine development L...

2017-07-19T01:11:14.582-07:00

DiamondCorp reported continuing mine development Lace (Lace) in South Africa, at a depth of 290 meters after the completion of backfilling rocks on the project.
In a statement the company said that the resumption of work took place two weeks earlier than the declared period.
Laying of the tunnel at the level of 290 m is now continuing kimberlite K4 high diamond. The company was able to start it after the installation of the steel arch structure 10 m in height in the shaft section at this level, the company added.
"The resumption of development on the level of 290 m, as well as commissioning on pipeline capacity of 400 tons of ore Last week, per hour, means that we managed to overcome most of the problems we faced in the last few months. Meanwhile, the total of the development plan and the production of the mine is behind schedule, although it was announced in advance ", - said CEO Pol Laudon DiamondCorp (Paul Loudon).
In a statement also states that the development of the tunnel continues in accordance with the previously scheduled up as Kimberlite contains fewer inclusions gangue than kimberlite K6 with a low content of rocks in the southern part of the tube. After this block is necessary to carry out tunnels to reach the upper block K4 high diamond.

World Council for Investment in platinum (World Pl...

2017-07-19T01:11:02.242-07:00

World Council for Investment in platinum (World Platinum Investment Council, WPIC) released a forecast that global demand for platinum jewelery can be reduced by 5% in 2015, to 2,850 th. Ounces, while in 2014 the figure was 2,990 thousand . oz. The decline was mainly due to weaker demand in China.
WPIC in collaboration with the SFA (Oxford) released its fifth quarterly report on platinum. Meanwhile, WPIC believe that in 2016 the situation will be corrected, and the demand for platinum products slightly increase to 2905 thousand. Oz.
As stated in the report, the global demand for platinum jewelery in the third quarter of 2015 amounted to 790 thousand. Ounces, which is 19% higher than in the previous quarter. In India, growth was strongest, an increase of 20% compared with the previous quarter before the start of the wedding season. In the third quarter the growth of demand in the US amounted to 8%, in Japan remained unchanged, while in China it continued to be under pressure.

Correctional court of Antwerp sentenced on charge...

2017-07-19T01:10:52.519-07:00

Correctional court of Antwerp sentenced on charges of intentional issuing of false diamond certificates officials in 2012.
In accordance with the verdict, the court imposed strict sanctions on the guilty, including imprisonment, deprivation of certain rights, the imposition of substantial financial penalties and determination of compensation.
Judicial complaint due to significant damage to the reputation of the diamond laboratory HRD Antwerp and its parent company - AWDC (Antwerp World Diamond Centre, AWDC) , the plaintiffs filed in 2012.
Involved in the proceedings and their representatives have since been declared persona non grata and expelled from HRD Antwerp customers list. Participated in the fraud staff were immediately dismissed because of serious professional error.

Export Promotion Council of precious stones and je...

2017-07-19T01:10:42.779-07:00

Export Promotion Council of precious stones and jewelery (Gem & Jewellery Export Promotion Council, GJEPC) will participate in the exhibition Jewellery Arabia 2015, held at the International Center of exhibitions and conferences in Bahrain from 27 to 28 November 2015. In GJEPC pavilion will feature 57 leading companies of the industry of gems and jewelry in India. In addition, the Council will give its pavilion on the new look of the show.
The Indian pavilion, which occupies a significant 840 square meters of exhibition space, again demonstrate the exquisite craftsmanship and jewelry collections, including jewelry high-end diamond, gold and platinum. Some diamonds, inlaid with gold jewelry, designer jewelry, high-end jewelry is also the exhibition visitors will be presented wedding and exclusive products.
For the market in the Middle East, the Indian participants will also demonstrate the jewelry with colored stones, sapphires, emeralds, rubies and diamonds solitaire. Also jewelry made of platinum and palladium will be presented this year.
Chairman GJEPC Pravinshankar Pandya (Praveenshankar Pandya) Chairman GJEPC, spoke on the theme of the participation of the Indian delegation in Jewellery Arabia: "The Middle East has become one of the key markets for the leading companies in the field of precious stones and jewelry, and currently 30% of the total India's exports of gems and jewelery accounted for by this region. Jewellery Arabia has become an important platform for increasing trade with the region. the Middle East is a key market for India and will continue GJEPC etc. Ilagan efforts to increase the share of Indian companies in this market. "
"Wants to design jewelry in the Middle East and India are very similar, and therefore started in India jewelery demand enjoyed here for many years", - said Pandya.
According to GJEPC, trade with the Middle East continues to grow steadily. Exports to the UAE alone amounted to $ 10.5 billion in 2014.
On Jewellery Arabia 2015 jewelry exhibition duration of five days, it will feature more than 600 exhibitors from 30 countries, who will offer their gems and jewelry on a total area of 18,000 square meters. The audience will be shown a huge range of finished jewelery, watches, precious stones, antiques, art objects, jewelry packaging options and technologies from around the world.

In Lucapa Diamond noted that the next phase of exp...

2017-07-19T01:10:34.146-07:00

In Lucapa Diamond noted that the next phase of exploration work in the concession Lulo (Lulo) in Angola due to start on the most priority kimberlite L259, as well as the L13 / 15 neighboring areas.
The company operates in Lulo, in partnership with the Angolan state diamond company Endiama and private Rosas & Petalas.
In a statement to the shareholders of the company said that the team of specialists in exploration and equipment are carried at Lulo from South Africa. The company plans to hold a ground electromagnetic and gravimetric studies in the next phase of a systematic exploration of kimberlites program.
With this program plans to detect the source of diamonds with exceptional alluvial zone 8 Block (Block 8).
"Electromagnetic and gravimetric studies are considered to be effective and economical methods to identify kimberlite body and its limits, - the statement says the company -. Once we complete this stage, we will begin or digging at the surface, or \ and drilling Gross sample pyroclastic kimberlite structures. will be processed at our plant at Lulo capacity of 150 tons of rock per hour, to obtain a diamond. "
Geophysical surveys will begin on L259 and continue north-east kimberlite L13.
They will also include a study of kimberlite L15 on the south bank of the river Kachuma (Cachuma).
Meanwhile, Lucapa are informed that the results of the microscopic examination of rocks on the content of kimberlite indicator mineral are likely to be available within two months. Power shortages in South Africa caused a delay of the results.

In Botswana Diamonds said that the operating loss ...

2017-07-19T01:10:26.643-07:00

In Botswana Diamonds said that the operating loss of the company for the year ended June 30 amounted to £ 355.5 thousand. Compared to £ 1 million in the previous fiscal year.
"Management has prepared a cash flow estimates and forecasts of the company for a minimum period of 12 months from the date of this report, which suggests that the group of companies will require additional financing for working capital and the development of existing projects," he said in Botswana Diamonds. "Despite the fact that at this stage it is impossible to predict whether financing efforts for successful companies, our leaders are confident that they will be able to obtain additional funds to meet the obligations of the company", - added in the company.
Meanwhile, Director General of Botswana Diamonds Dzhon Tiling (John Teeling) said the company is actively prospecting in Botswana.
The company currently is developing 27 license areas.
From these licenses 14 are located in areas Orapa (Orapa) and PIMU (Gope). These license areas are developed in cooperation with the Russian diamond company Alrosa, the largest in the world in terms of diamond production.
Three licenses are wholly owned by Botswana Diamonds, while 10 licenses in the Kalahari operated by BCL, Botswana Diamonds which owns an indirect 15 per cent stake.
"Our attention is mainly focused on the joint venture with ALROSA, to which we have been working for four years Diamonds are hard to find -. Said Teeling -. Using the results of the analysis of our significant database ALROSA, many sites were obtained and analyzed in the last 18 months and drilled two separate license areas in the Orapa area of Botswana. in this area there are four of the best diamond mines in the world. "

Marketing initiative, which will soon be launched ...

2017-07-19T01:10:18.000-07:00

Marketing initiative, which will soon be launched by the Association of Diamond Manufacturers (Diamond Producers Association, DPA), is expected to return the diamond cutting sector of the Indian Surat former span at least the next year, according to the Times of India.
The DPA, the association leading diamond companies, is going to launch a global marketing campaign to increase sales of diamonds. DPA has appointed Mother New York, a leading advertising agency in New York, to develop an advertising campaign aimed mainly at Generation "millenialov" or "young adults" around the world.
It is reported that the advertising campaign will focus on India, and among the slogans are considered options such as "Diamonds - girls best friend" and "Diamonds - millenialov best friends." Meanwhile, according to the 2011 census, almost 60% of the 1.2 billion people of India were aged less than 30 years.
At the same time, India's polished exports in April-October 2015 fell to a record low of $ 12 billion, compared with $ 14 billion in the same period last year. About 350 small diamond cutting enterprises in Surat were closed, which is why more than 20 000 people have lost their jobs.
Regional Chairman to promote the export of precious stones and jewelry Council (Gem & Jewellery Export Promotion Council, GJEPC) Dinesh Nawada (Dinesh Navadiya) said: "We hope to resolve the current crisis in the industry due to marketing initiatives DPA".

Gemfields Company announced that it has received $...

2017-07-19T01:10:09.818-07:00

Gemfields Company announced that it has received $ 19.2 million from the sale of a predominantly low-quality emeralds are mined at the company owned 75% Kagem Mine (Kagem) in Zambia.
In a statement the company said that for the purchase of bidders were invited to 5.07 million carats of emeralds and implement managed 4.45 million carats. The auction was held in Jaipur, India.
The average value of the stones at the auction amounted to $ 4.32 per carat. This is a new record for the auction mostly low-quality stones.
"The return of our auction in Jaipur has brought excellent results, while world commodity prices and the diamonds fall - said Ian Harebottle -. Despite the volatility of global financial markets, demand and prices for emeralds are high as ever Cyclical markets leads to. the fact that demand for precious stones as an asset capable of maintaining savings is growing. "
Gemfields auction in Jaipur, held last week, was the first of this type of trading conducted outside Zambia, in June 2012.
In Gemfields noted that since 2009, the company was able to get $ 379 million under the 20th auction of emeralds and beryl mined at Kagem mine.

PNG Jewellers, Indian jewelry brand, which is curr...

2017-07-19T01:10:01.813-07:00

PNG Jewellers, Indian jewelry brand, which is currently growing rapidly, won the award as the most promising brand in India in the segment of jewelry and lifestyle (Jewellery and Lifestyle), created by World Consulting and Research Corporation (WCRC) .
The ceremony took place in London. Awards were given to various brands, which this year brought to the market the excellent service and ideas. WCRC, organizer of the event, is a multi-faceted consulting and research firm that evaluates brands successful in various sectors of trade and industry. The fact that PNG Jewellers received an award as the most promising brand this year is likely to increase the enthusiasm of the company.
"We are extremely pleased with this achievement. This is a fabulous time for such an assessment. The victory in the category of most promising jewelry brand in India is a great achievement for our brand. It is the fruit of hard work of our team of professionals involved in the launch of new stores and the creation of strategies aimed at creating a better image of the company among consumers This is the moment of our triumph, "-. said the chairman of the board of directors and the managing director of PNG Jewellers Gadgill Saurabh (Saurabh Gadgil).

November's website De Beers was the most low t...

2017-07-19T01:09:37.534-07:00

November's website De Beers was the most low this year and brought us only about $ 70 million. Oktyabrsky website Group was estimated at $ 200 million.
Kandjoze also said that he discussed with the Diamond Council of Namibia (Diamond Board of Namibia) the ability to change individual sections of the Act on diamonds.
He, however, did not stop on the details of possible changes in legislation.
Analyst of the diamond industry and journalist Chaim Even Zohar (Chaim Even Zohar), which is coordinated by one of the discussion sessions of the conference, said that Namibia is still in a good position despite the slowdown in the diamond industry, as the country produces some of the best and therefore the most valuable the world's diamonds.
It is expected that Namibia will produce 1.8 million carats of diamonds this year.

Minister for Mines and Energy of Namibia vow Kandz...

2017-07-19T01:09:28.420-07:00

Minister for Mines and Energy of Namibia vow Kandzhoze (Obeth Kandjoze) noted that only four of the thirteen companies cut diamonds in this country continue to carry out their activities.
At a conference on the diamond industry in Windhoek, the minister said that the number of workers employed in this sector has fallen from 2,000 to 700.
The local edition of The Namibian quoted Kandzhoze that businesses have closed due to the weakening of the diamond market.
Since late last year the diamond industry faced with liquidity problems, as well as to the strengthening of the dollar and the slowdown in China's economy.
Against these factors diamantaires faced with financial difficulties.

The Dominion Diamond Corporation, a Canadian diamo...

2017-07-19T01:09:10.848-07:00

The Dominion Diamond Corporation, a Canadian diamond mining company reported that in the third quarter of 2016 fiscal year sales of diamonds fell 35% amid cautious trade a long festive Diwali season in India, the decline in production at the Ekati mine (Ekati), and also in view of falling prices diamond to 8%.
During the quarter, two diamonds of the auction was held. Dominion plans to hold three rough diamond auction in the fourth fiscal quarter of 2016.
Sales in the three months ended October 31 fell to $ 145 million, versus $ 222.3 million a year earlier. For the nine months ended October 31, sales fell to $ 542.4 million, versus $ 675.2 million in the same period last year.
During the third quarter, Dominion processed 888,000 tonnes of ore at Ekati project, although last year the figure for the third quarter amounted to 1.14 million tons. Production in the period amounted to 838 000 carats or 0.94 carats per ton of ore, compared to 975,000 carats or 0.85 carats per tonne in the same period last year.
The Dominion reported that in July the company changed the diamond processing circuit on the project. Now, the company increased its net processing ore from the south-western part of the mine Misery (Misery) and underground mine Koala (Koala).
Meanwhile, on October 31 left the company, there were about 1.9 million carats of diamonds available for sale, with an estimated market value of about $ 155 million.

After a year of sleeping diamond sales, De Beers i...

2017-07-19T01:06:47.989-07:00

After a year of sleeping diamond sales, De Beers is now pinning its hopes on a good sale for a few weeks before Christmas in the United States and around the Chinese New Year next year.
The South African edition BusinessDay quoted Bruce Cleaver (Bruce Cleaver), Director of De Beers, Strategy and Business Development, and Paul Rowley (Paul Rowley), head of De Beers on global sightholders Sales, who said at the conference "Bridging the natural resources and Society" Botswana, which is an advertising campaign for diamonds in the United States have been spent tens of millions of dollars.
"In recent years, we realized that an increase in advertising costs in difficult times - is a good way to push the demand", - said Cleaver.
Top managers of the diamond mining giant also said that good sales of jewelry in the Christmas in the United States and during the New Year in China will help lapidary enterprises and jewelry manufacturers to sell their stocks of finished products.
BusinessDay reports that De Beers wants to return the market to equilibrium after the company cut diamond production at its mines.
In response to the weakening of the De Beers diamond market has lowered the target level of production to 29 million carats, compared to 34 million carats in earlier forecasts.

Three world's largest diamond company opened i...

2017-07-19T01:04:46.110-07:00

Three world's largest diamond company opened its Latin American offices in the first building of the World Jewelry Center (World Jewelry Hub, WJH) in Panama.
All three companies are sightholders De Beers - Diarough, Jewelex and Kiran Gems. Office of each of the companies in the WJH headed by their representative in Panama.
Diarough established in Antwerp in 1972. The company has offices and production in all parts of the world, being a producer of diamonds and jewelry, as well as a leading diamond wholesaler. Diarough is one of the founders of the responsibility of the Council in the jewelry industry (Responsible Jewelry Council, RJC).
Jewelex established in Mumbai in 1966. Today it is one of the largest vertically integrated diamond and jewelry companies, operating in various centers of production and trade.
Kiran Gems was established in Mumbai in 1985. Today the company is the largest diamond producer in the world, handles approximately 1.6 million. Carats of diamonds per year.

Company Crystal Arts Publication proudly unveiled ...

2017-07-19T01:04:36.970-07:00

Company Crystal Arts Publication proudly unveiled its latest "Jewelry Book" (THE JEWELLERY BOOK), dedicated to the world of jewelry piece together the best examples of jewelery from around the world. The book of 150 pages the reader will open the store 42 most famous world fashion houses.
The book is an attempt to look at the jewelry and their creators from four different angles. She also talks about the jewelry workshops, which were the best examples of world jewelery and impressed everyone. From classic to playful, floral and "cruise" products, from traditional to avant-garde Indian - "Jewelery book" presents a variety of jewelry, which is closely intertwined with the history and different themes.
The book is the result of decades of collaboration and experience of its founders, who are willing to talk about every facet of a particular jewelry. Thanks to the perfectly filmed images it provides an opportunity to assess how the gems, jewelery and talented craftsmen delighted women with their amazing creations.
In the book of our readers are also offered luxury brands of exclusive photos in conceptualizing the decorations, refining and sale of finished products.

The company Stellar Diamonds officially filed an a...

2017-07-19T01:04:29.339-07:00

The company Stellar Diamonds officially filed an application for a large-scale diamond mining at the deposit Tongo (Tongo) to the National Agency for Mineral Resources (National Minerals Agency, NMA) to Sierra Leone.
"Applying for a license allowing production at the field of Tonga, as well as giving us a report with the evaluation of the environmental, socio-economic environment and human health is an important milestone in the development of the project to the extent that as we move from exploration to diamond mining" - said CEO Karl Smithson (Karl Smithson).
"It is noteworthy that this is as far as I know, the first application for a full-scale production in the mining industry in general, which was filed after the crisis broke out because of the Ebola virus," - he said.
According to the company, the application will be processed by the National Agency for Mineral Resources, and then will be sent for consideration to the Advisory Council on Minerals (Advisory Board, MAB) of Sierra Leone.
According to Karl Smithson later Advisory Council will give its recommendation in cases of mines minister for approval of the mining license.
Stellar also announced that it has provided a final assessment of the environmental, social and economic environment and the health of the population to the Office in Sierra Leone Environmental Protection Agency of the country.
"The process of reviewing our report in the department of the environment will be completed by information meetings with the public in the new year in the project area protection and in Freetown, after which the ministry of the Environment may approve environmental impact assessment and to issue the necessary environmental license," - He said in conclusion, Karl Smithson.

Diamond division Rio Tinto Corporation completed i...

2017-07-19T01:04:20.433-07:00

Diamond division Rio Tinto Corporation completed its first demonstration of rough diamonds in the Indian center of diamond trade of the Indian Diamond Bourse in Mumbai, according to a press release, Rio Tinto Diamonds has, the Agency receives Rough & Polished.
According to the company, the parcel of diamonds from Argyle (Argyle) and Diavik (Diavik) was demonstrated in Mumbai from November 23 to November 25, before returning to Antwerp for auction.
Rio Tinto said that this show is rough - the first show, which took place in the center of the Indian diamond trade - helped raise the level of access to raw materials for local companies and their performance. The company's announcement noted that the event was attended by many Indian traders and manufacturers.
Patrick Coppens (Patrick Coppens), Sales Director General of the diamond division Rio Tinto, said: "We are delighted to be the first producer of the raw material, which is used equipped with the latest technology of the diamond trade in the Indian center for showing our diamonds and congratulate the Indian Diamond Exchange and Promotion Council exports of gems and jewelery (Gem and Jewellery export Promotion Council) India with a robust infrastructure and procedures to make this event a success. Our presence in the Indian center of diamond trade of the Indian Diamond Bourse in Mumbai underscores our commitment to the promotion of production from the mines to the market and our desire to be closer to our customers and sales channels. "

It is reported that diamond reserves in the offsho...

2017-07-19T01:04:12.529-07:00

It is reported that diamond reserves in the offshore Namibia may be 1.5 billion carats. These stocks help the African country to maintain production after depletion of ground diamond mines.
Meanwhile, the diamond mines in Namibia are being rapidly depleted, and more and more diamonds in this country is produced from the seabed.
"In the sea we have a large inventory of diamonds," - said the chairman of the Chamber of Mines of Namibia Kombadaedu Kapvanga (Kombadayedu Kapwanga) at a mining conference in Windhoek.
The company Namdeb Holdings, which is a joint venture of the Government of Namibia and the company De Beers, produced 1.8 million carats of diamonds last year, of which 1.2 million were made Debmarine Namibia.
However, Kapvanga noted that the Government of Namibia should be granted the protection of new businesses in diamond cutting.
Number of diamond factories in the country have recently declined due to lack of rough and because of the weakening market.

Five other jewelry houses - Temansu Nico (Nico Tae...

2017-07-19T01:04:03.475-07:00

Five other jewelry houses - Temansu Nico (Nico Taeymans), Joaillerie du Centre , and Yordan Rembrandt (Rembrandt Jordan), RÖELL Jewellery and Studio TWEE - label awarded to Antwerp highest gem quality Antwerp's Most Brilliant (AMB). He established the Municipality of Antwerp and the Antwerp World Diamond Center (Antwerp World Diamond Centre, AWDC) in 2013. AMB holders are already about 20 Antwerp jewelers.
For a quality label can only claim jewelers, following strict standards of quality, safety, reliability, transparency and service. Their work is evaluated by an independent monitoring agency.
AMB The aim is to increase consumer confidence.

Diamond laboratory HRD Antwerp now offers customer...

2017-07-19T01:03:54.606-07:00

Diamond laboratory HRD Antwerp now offers customers a new service - the removal from the surface of the diamond using the old serial number or user inscription laser.
To do this, you simply need to submit a stone for certification, which will remove the old or new label deal. This service is carried out in the building of HRD Antwerp its expert polishers.
Laser treatment does not affect in any way on the weight, clarity, color and cut diamonds.

The HSBC Holdings noted that the mining company An...

2017-07-19T01:03:45.939-07:00

The HSBC Holdings noted that the mining company Anglo American could fetch more than $ 10 billion from the sale of a stake in the diamond company De Beers.
Now Anglo American owns 85% of the securities of the diamond company. Meanwhile, Anglo shares since the beginning of the year showed the second worst result according to FTSE 100 index, noted in Bloomberg.
At HSBC believe that if Anglo will go on sale a stake in De Beers, it still will leave a part of its shares after the public offering.
Meanwhile, the share of the corporation in the diamond mining company is now worth about $ 10 billion, the bank added.
In 2012, Anglo American bought out the Oppenheimer family 40% stake in De Beers for $ 5.1 billion, bringing its stake to 85%.
"De Beers shares could be priced very high, - the of HSBC -. Under favorable conditions, the partial sale of the company's shares through their public offering may denote the real value of the asset and bring considerable resources."
Earlier this year, Anglo received $ 2 billion from the sale of copper mines in Chile and platinum business in South Africa. Meanwhile, this year the company would gain $ 3 billion. The remaining funds will be obtained through the sale of assets and the reduction of staff to reduce costs and debt load.
Bloomberg reports that in the first half of 2015 De Beers has become one of the most profitable divisions of Anglo American: the diamond business accounted for more than one third of the total revenue of the corporation for six months.
Meanwhile, since late last year diamond market declines during the crisis of liquidity, due to a stronger US dollar and due to the slowdown in the Chinese economy.
November's website De Beers brought us only about $ 70 million, while in October the company received on its bid of $ 200 million.
"On the backdrop of slowing global demand for commodities Anglo American will wait until it starts to recover," - believe in HSBC.

President of the WFDB (World Federation of Diamond...

2017-07-19T01:03:37.368-07:00

President of the WFDB (World Federation of Diamond Bourses, WFDB ) Ernest Blom (Ernest Blom) called on the countries of southern Africa to increase the supply of diamond cutting and polishing businesses, if they want their plants for the production of diamonds were resistant.
At Diamond Conference in Windhoek, Namibia, Blom said that stable cutting and polishing segments in Israel, India and Belgium receive state support.
Meanwhile, the publication of The Namibian head leads WFDB word that after the adoption of the law to increase the added value of diamonds in South Africa, the number of workers in the diamond cutting sector of the country has decreased from 4,500 to 300.
In this regard, Blom believes that Governments should fight corruption and bureaucratic procedures, to supply enough diamond cutters and cooperate with diamond manufacturers themselves to the capacity added value of the program to work effectively.
Meanwhile, Chaim Even Zohar (Chaim Even Zohar), who coordinated the discussion at the conference, said that synthetic diamonds are part of the diamond supply chain.
"Retailers try to make a profit if they could get more revenue from the sale of diamonds, created in the laboratory, they will take advantage of this opportunity." - he said.
Zohar added that the sector of synthetic diamonds "feels good."
Meanwhile, he also mentioned the problem of mixing of synthetic diamonds with lots of natural stone.

Chow Tai Fook Jewellery Group Limited, the largest...

2017-07-19T01:03:29.032-07:00

Chow Tai Fook Jewellery Group Limited, the largest jewelry company, whose shares are traded on the Hong Kong Stock Exchange, announced the preliminary results of its activity in the first half of the fiscal year, which ended on 30 September.
Revenue Group companies fell by 4.1% in the first quarter of fiscal year 2016 to $ 3.62 billion (28.12 billion Hong Kong dollars), compared to $ 3.78 billion in the first half of the 2015 fiscal year. Gross profit decreased by 15.8% to $ 1.01 billion (7.85 billion Hong Kong dollars).
Profit shareholders decreased by 42.2% to $ 200.8 million (HK $ 1.5 billion).
President of the group Chow Tai Fook companies Genri Chen (Henry Cheng) said: "Market fluctuations of premium products that have taken place in the last 12 months, continue to pose a threat to our operations we try to concentrate and notice the smallest details in the positioning of our business We raise strategic effectiveness.. our sales channels and new products in response to changing consumer preferences and tastes. "
Reduction of Chow Tai Fook revenues in the first half of fiscal year 2016 was largely due to weaker demand for premium products in Hong Kong and Macau, as well as reduced purchasing ability of tourists. Although the company's revenue decreased by 4.1%, this decline was partly offset by relatively stable market conditions and contribute to the overall business of new sales outlets opened in mainland China.
Meanwhile, the wholesale segment brought Chow Tai Fook only 14.6% of revenue and first half of the 2016 fiscal year, as a selling point, open the franchise, reluctantly increased their stocks of products.
Kent Wong (Kent Wong), Managing Director of Chow Tai Fook, said. "Against the background of the uncertainty that currently on the market, we remain confident in the long-term growth of jewelry consumption in mainland China the same time, to adapt to new challenges, facing our company, we will develop a balanced approach to growth and development of Chow Tai Fook ".

At a conference in Botswana capital Gaborone on th...

2017-07-19T01:03:20.243-07:00

At a conference in Botswana capital Gaborone on the role of the diamond industry in Botswana's development, Endryu Boun (Andrew Bone), Executive Director responsible jewelry practices (Responsible Jewellery Council, RJC) of the Council, said that the pioneering work of Botswana in 2006, when it was chairman of the Kimberley process (KP), has allowed other African countries to bring their activities into compliance with the KP, according to Idex Online portal.
He praised the courage Botswana government, which turned out to be wished and able to take a leading role in maintaining the reputation of diamonds.
Bone said that "diamonds - a commodity, affecting the emotions, and so they need to be protected. Protection of diamond reputation is extremely important to achieve this goal. "
With regard to the Kimberley process, he also noted that the problem went beyond conflict diamonds theme. Although the Kimberley Process Certification Scheme managed quite successfully prevent the spread of conflict diamonds, there is a problem with the perception of diamonds, he said.
He recalled the long-known fact that diamonds - a rare commodity, stressing that "even if the diamonds - it is forever, the diamond mining, probably not."
He also noted that the diamonds grown in a lab represent a huge challenge for the industry. He stressed that they will not substitute for natural stone, and that these two categories should be considered two different products. The RJC, he said, wants to synthetic diamonds are properly declared, and the industry has acted responsibly on this issue.

Gemological Institute of America (Gemological Inst...

2017-07-19T01:03:11.432-07:00

Gemological Institute of America (Gemological Institute of America, GIA) recently withdrew gemological reports 1042 diamonds, after it became clear that the color and purity of the stones were deliberately altered. Entries in the registry for these stones have also been removed.
"Given the importance of the situation, Export Promotion Council of precious stones and jewelery (Gem & Jewellery Export Promotion Council, GJEPC) and the Indian Diamond Exchange (Bharat Diamond Bourse, BDB) convened a Standing Committee to monitor so the situation. In order to better understand the problem, the committee met and held a detailed meeting with senior leaders of the GIA and Tata Consultancy Services (TCS) ", - said chairman of GJEPC Pravinshankar Pandya (Praveenshankar Pandya).
According to GIA and TCS, fraud scheme included former and current employees of Tata. 1042 Characteristics of diamonds in the reports had been illegally inflated commissioned by certain individuals. TCS employees have changed the parameters of quality of stones to print reports and send them to customers. Meanwhile, in the laboratory they stressed that the incident is limited to only 1042 stones. The entire list of reports for diamonds with exaggerated features published on the GIA website.
On request GJEPC and BDB laboratory has agreed to a free re-test all diamonds sent to GIA during the commission of fraud. Any client of the laboratory received a certificate at this time, can take advantage of this opportunity. GIA released a comprehensive statement in connection with this situation.
"The incident is currently investigated by the police. Results of the investigation are expected. At the same time, we assure the diamond trade that we take this situation very seriously. If any of the representatives of the diamond industry will be found guilty of this crime, both associations will take the most stringent action against such offenders ", - said Anoop Mehta (Anoop Mehta), president of the BDB.