Lucapa closer to uncovering Lulo kimberlite source

Lucapa Diamond Company has made some significant progress in its search for the kimberlite source of the high-value alluvial diamonds being mined at the Lulo diamond project in Angola.

Following highly-encouraging tributary sampling results in February 2020, the project Lulo partners commenced a drilling programme in the Canguige catchment area targeting five kimberlite pipes considered prospective to host diamonds, along with two additional priority anomalies.

Once the existing priority kimberlites are drilled, kimberlite bulk samples from these five pipes will be excavated for processing to test for diamonds.

Source: DCLA

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Lucapa closer to uncovering Lulo kimberlite source

Lucapa Diamond Company has made some significant progress in its search for the kimberlite source of the high-value alluvial diamonds being mined at the Lulo diamond project in Angola.

Following highly-encouraging tributary sampling results in February 2020, the project Lulo partners commenced a drilling programme in the Canguige catchment area targeting five kimberlite pipes considered prospective to host diamonds, along with two additional priority anomalies.

Once the existing priority kimberlites are drilled, kimberlite bulk samples from these five pipes will be excavated for processing to test for diamonds.

Source: DCLA

Print

Gem Diamonds Retrieves Another Five Big Stones

Gem Diamonds has recovered five large, high-quality stones at its Letšeng mine in Lesotho, continuing a strong first quarter for the company’s production.

The company unearthed four white diamonds weighing 88, 56, 53 and 33 carats between February 28 and March 3. It also found a “top-quality” 13-carat pink diamond.

Those are in addition to the recovery of a 114-carat stone the miner reported last week. It found a 183-carat, white, type IIa diamond last month.

The miner is ahead of where it was this time last year in terms of its large-stone recoveries. In 2019, Gem Diamonds didn’t find any stones over 100 carats until late March. During that year, the company unearthed a 13.33-carat pink diamond similar to the one it found last week. That stone sold to Graff for $8.8 million, fetching a record average price of $656,933 per carat for Gem Diamonds.

While the recovery of large stones bodes well for the company, it has had to cancel a rough tender that was set to take place in Israel from March 8 to 12 due to the coronavirus, the Israel Diamond Exchange reported. Its Belgium auction will proceed as planned.

Source: DCLA

Gem Diamonds Retrieves Another Five Big Stones

Gem Diamonds has recovered five large, high-quality stones at its Letšeng mine in Lesotho, continuing a strong first quarter for the company’s production.

The company unearthed four white diamonds weighing 88, 56, 53 and 33 carats between February 28 and March 3. It also found a “top-quality” 13-carat pink diamond.

Those are in addition to the recovery of a 114-carat stone the miner reported last week. It found a 183-carat, white, type IIa diamond last month.

The miner is ahead of where it was this time last year in terms of its large-stone recoveries. In 2019, Gem Diamonds didn’t find any stones over 100 carats until late March. During that year, the company unearthed a 13.33-carat pink diamond similar to the one it found last week. That stone sold to Graff for $8.8 million, fetching a record average price of $656,933 per carat for Gem Diamonds.

While the recovery of large stones bodes well for the company, it has had to cancel a rough tender that was set to take place in Israel from March 8 to 12 due to the coronavirus, the Israel Diamond Exchange reported. Its Belgium auction will proceed as planned.

Source: DCLA

Pandora to Slash 180 Jobs in Restructuring

Pandora is embarking on a major streamlining process aimed at speeding up its ability to act on customer feedback, the jeweler said Wednesday.

The Danish company will close its three regional offices — management centers that oversee stores in specific parts of the world — to eliminate a layer between upper management and customers, it noted. It will cut 180 workers as a result.

“[This] brings our global headquarters closer to our local markets and consumers, and ensures that feedback from consumers can more quickly fuel new concept creations,” noted Pandora CEO Alexander Lacik. “The reorganization will reduce organizational complexity, enable Pandora to execute with more speed and agility, and add critical capabilities required to support growth.”

Pandora will group its market areas into 10 clusters, each of which will be headed by a general manager who is based in the largest market within that cluster. All general managers will report to a newly hired chief commercial officer, whose identity the company will disclose shortly.

The jeweler will also establish two global business units that will oversee all products, which it believes will offer a more consistent marketing message and consumer experience, it said. One unit will be responsible for core products, including its Moments collection, charms and collaborations, while the second will drive newer product categories and innovations. The units will report to chief marketing officer Carla Liuni.

Additionally, as part of the new restructuring, three regional presidents will step down from the executive team. The new system will take effect April 2.

Source: DCLA

Pandora to Slash 180 Jobs in Restructuring

Pandora is embarking on a major streamlining process aimed at speeding up its ability to act on customer feedback, the jeweler said Wednesday.

The Danish company will close its three regional offices — management centers that oversee stores in specific parts of the world — to eliminate a layer between upper management and customers, it noted. It will cut 180 workers as a result.

“[This] brings our global headquarters closer to our local markets and consumers, and ensures that feedback from consumers can more quickly fuel new concept creations,” noted Pandora CEO Alexander Lacik. “The reorganization will reduce organizational complexity, enable Pandora to execute with more speed and agility, and add critical capabilities required to support growth.”

Pandora will group its market areas into 10 clusters, each of which will be headed by a general manager who is based in the largest market within that cluster. All general managers will report to a newly hired chief commercial officer, whose identity the company will disclose shortly.

The jeweler will also establish two global business units that will oversee all products, which it believes will offer a more consistent marketing message and consumer experience, it said. One unit will be responsible for core products, including its Moments collection, charms and collaborations, while the second will drive newer product categories and innovations. The units will report to chief marketing officer Carla Liuni.

Additionally, as part of the new restructuring, three regional presidents will step down from the executive team. The new system will take effect April 2.

Source: DCLA

GIA Calls Off New York Career Fair

The Gemological Institute of America (GIA) has canceled next week’s career event in New York due to the coronavirus.

The GIA Jewelry Career Fair was due to take place on March 13. It targets job seekers in the greater New York City area, and is open to the public. The organization plans to find a new date for the event.

“We believe this is in the best interest of all participants’ health and safety,” a GIA spokesperson said Wednesday.

Last year, the fair attracted more than 450 students, GIA alumni, job seekers and other professionals, as well as 56 companies looking to hire and 23 career coaches.

The GIA has already reduced the operating hours at its Hong Kong and Tokyo laboratories due to the health situation. It continues to monitor the conditions in all its locations, the spokesperson added.

Concerns about the spread of the coronavirus in the US increased this week. As of Wednesday, nine people had died out of a total of 80 cases across 13 states, according to the Centers for Disease Control and Prevention. The US has not yet banned public events, but California declared a state of emergency on Wednesday.

The JCK Las Vegas and Luxury shows will still take place in late May and early June, organizers Reed Jewelry Group confirmed on Tuesday. This week’s Hong Kong shows and the Baselworld fair — scheduled for April 30 to May 5 in Switzerland — have both fallen victim to the epidemic.

Source: DCLA