Swarovski Debuts New Lab-Grown Diamond Colors

Crystal brand Swarovski introduced 16 new synthetic-diamond colors at Paris Haute Couture Fashion Week.

The new hues fall into four creative categories in which Swarovski claims to play a role, it said last week. Each of the four areas — fashion, art, music and architecture — includes four colors of cushion-cut lab-grown diamonds.

Every category in the collection is led by a “hero” color. These include Androgyny Flamingo for fashion, Cubist Sky for art, Heavy Metal Cherry for music, and Gothic Cognac for architecture. Some of the other colors in the collection are Punk Lipstick, Surrealist Butter, Draped Fire and Electro Arctic.

The stones showcased in Paris range from 1.25 to 2.50 carats, while the 16 colors will be available at stores in 0.25- to 1.50-carat sizes.

“I’d like to think that these stones have endless potential, and are able to bring any idea to life,” said Markus Langes-Swarovski, a member of the Austrian jeweler’s executive board. “The colors, cuts and sizes are created to inspire jewelry that has never been made or even dreamed of. It’s a toolbox of unlimited creativity.”

Swarovski first launched laboratory-grown diamonds in 2018.

Source: DCLA

Swarovski Debuts New Lab-Grown Diamond Colors

Crystal brand Swarovski introduced 16 new synthetic-diamond colors at Paris Haute Couture Fashion Week.

The new hues fall into four creative categories in which Swarovski claims to play a role, it said last week. Each of the four areas — fashion, art, music and architecture — includes four colors of cushion-cut lab-grown diamonds.

Every category in the collection is led by a “hero” color. These include Androgyny Flamingo for fashion, Cubist Sky for art, Heavy Metal Cherry for music, and Gothic Cognac for architecture. Some of the other colors in the collection are Punk Lipstick, Surrealist Butter, Draped Fire and Electro Arctic.

The stones showcased in Paris range from 1.25 to 2.50 carats, while the 16 colors will be available at stores in 0.25- to 1.50-carat sizes.

“I’d like to think that these stones have endless potential, and are able to bring any idea to life,” said Markus Langes-Swarovski, a member of the Austrian jeweler’s executive board. “The colors, cuts and sizes are created to inspire jewelry that has never been made or even dreamed of. It’s a toolbox of unlimited creativity.”

Swarovski first launched laboratory-grown diamonds in 2018.

Source: DCLA

De Beers Plans Overhaul of Supply Policy

De Beers plans to abandon its practice of using sightholders’ purchase history as the main factor in determining how it allocates rough supply, sources have told Rapaport News.

The move, which would go into effect from 2021, would see the miner shift to more subjective criteria for deciding the value of goods each client receives.

The current system, known as “demonstrated demand,” requires sightholders to buy the rough that De Beers has allotted them or risk losing access to De Beers’ diamonds in future. The method has faced criticism for encouraging dealers and manufacturers to take on unprofitable inventory.

But with the current sightholder agreement expiring at the end of this year, De Beers has told clients demonstrated demand will not be the main driver of allocations in the new contract period, the sources said. Discussions about the matter continued at this week’s January sight in Botswana.

The proposals include studying data about clients’ business activities, as well as qualitative factors, to help determine whether companies should be on the client list, a sightholder explained on condition of anonymity. De Beers is also considering reducing the number of sightholders, according to a Bloomberg report last week that Rapaport News could not corroborate.

“We will be communicating directly with customers in the coming months about the new sightholder contract period, which will focus on maximizing the considerable opportunities ahead in the diamond sector,” a De Beers spokesperson said. The company would not elaborate on the details.

The midstream’s accumulation of excess inventory contributed to a severe slowdown in the diamond market in 2019, with De Beers’ full-year sales falling 25% to $4.04 billion. Last July, Dutch bank ABN Amro wrote to its clients urging them to buy rough only when it’s profitable, and attacked the practice of making purchases purely to maintain supply allocations.

Sightholders are expecting this week’s De Beers sale — the first of the year — to be relatively large as the trade replenishes its stocks following a solid holiday season. De Beers raised prices in certain categories, sources said.

Soucre: DCLA

De Beers Plans Overhaul of Supply Policy

De Beers plans to abandon its practice of using sightholders’ purchase history as the main factor in determining how it allocates rough supply, sources have told Rapaport News.

The move, which would go into effect from 2021, would see the miner shift to more subjective criteria for deciding the value of goods each client receives.

The current system, known as “demonstrated demand,” requires sightholders to buy the rough that De Beers has allotted them or risk losing access to De Beers’ diamonds in future. The method has faced criticism for encouraging dealers and manufacturers to take on unprofitable inventory.

But with the current sightholder agreement expiring at the end of this year, De Beers has told clients demonstrated demand will not be the main driver of allocations in the new contract period, the sources said. Discussions about the matter continued at this week’s January sight in Botswana.

The proposals include studying data about clients’ business activities, as well as qualitative factors, to help determine whether companies should be on the client list, a sightholder explained on condition of anonymity. De Beers is also considering reducing the number of sightholders, according to a Bloomberg report last week that Rapaport News could not corroborate.

“We will be communicating directly with customers in the coming months about the new sightholder contract period, which will focus on maximizing the considerable opportunities ahead in the diamond sector,” a De Beers spokesperson said. The company would not elaborate on the details.

The midstream’s accumulation of excess inventory contributed to a severe slowdown in the diamond market in 2019, with De Beers’ full-year sales falling 25% to $4.04 billion. Last July, Dutch bank ABN Amro wrote to its clients urging them to buy rough only when it’s profitable, and attacked the practice of making purchases purely to maintain supply allocations.

Sightholders are expecting this week’s De Beers sale — the first of the year — to be relatively large as the trade replenishes its stocks following a solid holiday season. De Beers raised prices in certain categories, sources said.

Soucre: DCLA

Petra Diamonds H1 Production Up, but Revenue Down

Petra Diamonds Limited has announced that while its production for the six months ended December 2019 was up 3 percent to 2,070,240 carats (H1 FY 2019: 2,019,147 carats), revenue for the same period was down 6 percent. Revenue fell to $193.9 million from 1,743,807 carats (H1 FY 2019: $207.1 million from 1,736,357 carats).

The decline in revenue comes from lower diamond prices and the adverse product mix at Finsch and Williamson. This was, however, partially offset by the sale of the 20.08-carat blue diamond from Cullinan for $14.9 million.

The company is currently on track to meet or exceed its FY 2020 production guidance of ca. 3.8 Mcts.

In addition, Petra said it saw growing stability in pricing as the calendar year closed and that demand has continued to improve as the midstream looks to replenish inventory with early indications that rough pricing has improved modestly in the third quarter of 2020. .

Petra reported that its net debt as of December 31, 2019 stood at $596.4 million 

(September 30, 2019: $592.8 million). It also reported a diamond inventory of 992,425 carats valued at $85.2 million compared to $92.4 million for September 30, 2019.

Source: DCLA

Petra Diamonds H1 Production Up, but Revenue Down

Petra Diamonds Limited has announced that while its production for the six months ended December 2019 was up 3 percent to 2,070,240 carats (H1 FY 2019: 2,019,147 carats), revenue for the same period was down 6 percent. Revenue fell to $193.9 million from 1,743,807 carats (H1 FY 2019: $207.1 million from 1,736,357 carats).

The decline in revenue comes from lower diamond prices and the adverse product mix at Finsch and Williamson. This was, however, partially offset by the sale of the 20.08-carat blue diamond from Cullinan for $14.9 million.

The company is currently on track to meet or exceed its FY 2020 production guidance of ca. 3.8 Mcts.

In addition, Petra said it saw growing stability in pricing as the calendar year closed and that demand has continued to improve as the midstream looks to replenish inventory with early indications that rough pricing has improved modestly in the third quarter of 2020. .

Petra reported that its net debt as of December 31, 2019 stood at $596.4 million 

(September 30, 2019: $592.8 million). It also reported a diamond inventory of 992,425 carats valued at $85.2 million compared to $92.4 million for September 30, 2019.

Source: DCLA

BlueRock Diamonds Reports Profitability

BlueRock Diamonds has announced that it operated profitably for the first time in the second half of 2019. The miner started operations in 2012.

The AIM-listed diamond producer, which owns and operates the Kareevlei Diamond

Mine in the Kimberley region of South Africa said its revenue was up 190 percent to £4.1 million ($5.4 million) for full year 2019. 

The miner sold 12,675 for the year, an increase of 118 percent over the 5,805 carats in 2018. On a quarterly basis, Q4 2019 saw an increase of 172 percent to 4,170 carats compared to 1,533 carats in Q4 2018.  

BlueRock also saw an increase in its average price per carat during Q4 and FY2019. For 2019, the per-carat price increased 24 percent to $415 (2018: $334) and for the quarter it rose 30 percent to $410 (2018: $316). 

“I am very pleased with the continued success at Kareevlei,” said Mike Houston, BlueRock executive chairman. “Having achieved the aggressive guidance for 2019 and operated profitably for the first time in the second half of 2019. We are proud of this key milestone, which is a testament to the implementation of the revised production strategy brought in by the company’s new management team in Q2 2019.”

BlueRock said it expects to report positive EBITDA and positive comprehensive income for

the second half of 2019 (excluding non-cash adjustments for IFRS 9 charges and movement in foreign exchange). 

The company said the first quarter of 2020 has started “satisfactorily” with expectations that, despite the impact of seasonal rains, it will meet its targeted production volumes for the quarter, which are significantly ahead of those achieved in Q1 2019.

Source: DCLA