An Indian court has found five manufacturers in Surat guilty of copyright infringement and the illegal use of Sarine Technologies’ software, the Israel-based company reported.
“The court’s ruling has made it clear that any company using unlicensed or pirated Advisor software is breaking the law,” said Sarine CEO David Block in a statement Sunday, referring to its rough-planning technology. “We intend to aggressively protect our IP [intellectual property] and will continue taking action against any entities involved in infringement.”
Sarine took legal action against several companies in and around the Indian manufacturing city of Surat in May. Court commissioners visited the premises of the alleged infringers on May 18, Sarine said at the time.
The court has also ordered the entities in question — Gopi Impex, Nirghay Impex, Pramukh Gems, Dhiren Diamonds and Bhumika Gems — to remove the infringing software from their computers, according to the company, which provides diamond-scanning equipment for the manufacturing industry. Rapaport News was unable to reach the alleged infringers for comment.
Canadian miner Lucara Diamond has announced that it expects to sell between $200 million to $230 million worth of diamonds from its Karowe mine in Botswana in 2023 – an increase over its previous forecast of $185-$215 million in 2022, IDEX Online reports.
Lucara also said it expects to sell 385,000 to 415,000 carats (up from 300,000 to 340,000 carats in 2022) and expects to recover 395,000 to 425,000 carats (an increase from 300,000 to 340,000 carats).
Recently, Lucara announced that it has extended its sales agreement with HB Trading to sell +10.8-carat rough diamonds from Karowe for another ten years. Lucara and HB partnered in 2020 to sell Karowe’s large, high-value diamonds “that have historically accounted for about 60% to 70% of its annual revenues,” according to a report by Rough & Polished.
The 303.10-carat Golden Canary fetched $12.4 million at Sotheby’s Magnificent Jewels in New York on Wednesday, becoming the third most valuable yellow diamond ever sold at auction, the company reported.
The pear-shaped, fancy-deep-brownish-yellow stone is the world’s largest known internally flawless diamond. It is also the largest flawless or internally flawless diamond graded by the Gemological Institute of America (GIA), Sotheby’s said Thursday. The auction house offered the piece without reserve, but predicted it would bring in more than $15 million.
The diamond was initially discovered in the Democratic Republic of Congo (DRC) in the early 1980s. Originally called the Incomparable Diamond, the stone was recut from its previous 407-carat shield shape to deepen the color and brighten the hue.
“The Golden Canary captivated me from the moment I saw it — with its monumental size, golden hue and impeccable clarity — it is truly an extraordinary diamond with immense presence,” said Quig Bruning, head of jewelry for the Americas at Sotheby’s.
Israel’s exports of polished diamond have shown positive growth over the past 11 months, a statement issued by Israeli Economic Ministry revealed yesterday.
According to the statement, the net rough diamond imports reached about $1.68 billion, recording an eight per cent decline compared to the same period last year.
Meanwhile, the net rough diamond exports reached $1.46 billion during the same period, recording a 9.5 per cent decline compared to the same period last year.
Last month, net Israeli exports of rough diamonds to the UAE reached about $10.7 million – about 14 per cent of the total Israeli exports of rough diamonds in November.
Israel imported rough diamond worth $25.7 million from the UAE – 21 per cent of the total Israeli imports of rough diamond.
Israel recently began exporting diamonds to Bahrain and the Ministry of Economy and Industry expects this market to grow next year.
The global diamond industry has faced massive interruptions as a result of Russia’s war on Ukraine. US sanctions on Russia, the world’s third largest diamond exporter, includes diamond trade.
Winston Chitando, Zimbabwe’s mines and mining development minister, said in an interview with the Sunday Mail newspaper quoted by IDEX Online that the country’s diamond sector will grow to $1 billion by the end of 2023.
Chitando said that Murowa Diamonds and the ZCDC (Zimbabwe Consolidated Diamond Company) “were expanding their operations and would help bring total output to 7 million carats, up from 2 million in 2018.”
Chitando said: “Other countries produce quite a lot, but their production is mature . . . whereas Zimbabwe has a fairly rapidly growing industry. It is probably experiencing the biggest growth in the diamond industry in the world.”
In another report in Rough & Polished, Zimbabwe’s Finance minister Mthuli Ncube is quoted as saying that the mining sector is expected to grow by 10% this year, and that the government had issued 20 exploration prospecting orders (EPOs) to several companies this year. He also said that the mining sector “is expected to grow by 10.4% in 2023.”
Confidence is the “fifth C” of the diamond sector and its role has rapidly gained increased importance at every touchpoint of a diamond’s journey. Customers, suppliers, financiers and end consumers all have a rightfully heightened demand of assurance when it comes to diamonds. With more than 130 years of experience as a leader in the industry, De Beers Group is dedicated to building and solidifying confidence within every touchpoint our diamonds reach. Designed to combine expertise with innovative technology in grading, De Beers Institute of Diamonds provides our industry with the very best in diamond verification with a range of products and services that provide confidence in product integrity, product knowledge and product assessment.
At the De Beers Institute of Diamonds, our grading is guided by three key principles:
Accuracy – Our laboratories use market leading instruments and proprietary technology to support our grading, providing the most accurate and consistent diamond appraisals.
Integrity – In using a ‘black box’ system – where diamonds are distributed in anonymous boxes so that each diamond is appraised fairly according only to its features – ensures the integrity of all our processes.
Consistency – Our team is built around some of the world’s most experienced graders, who undergo rigorous training, carrying the knowledge and expertise to evaluate every diamond accurately and consistently, wherever it was mined.
Every diamond we grade as part of our services is natural, untreated and from a recognized diamond producer.
We believe there is more to a diamond than its weight and appearance. We work only with natural diamonds, disclosed to us as compliant with the United Nations mandated World Diamond Council Kimberley Process – a foundational commitment to the modern diamond industry. Additionally, an assessment from De Beers Institute of Diamonds provides diamantaires with confidence in a report of each diamond’s 4Cs of carat, color, clarity and cut. Every diamond graded at De Beers Institute of Diamonds is given a unique inscription number, allowing the diamond details to be tracked and viewed on our website, for added peace of mind.
Every diamond we handle has benefited from our unrivalled range of accumulated expertise and exclusive proprietary technology – the most advanced diamond services and verification instruments in the trade.
Hardwiring our expertise into technology underpins our ability to give customers accurate, reliable and repeatable outcomes within our diamond grading services. Our technology leadership ensures our customers can have 100% trust in both the integrity and assessments of their diamonds, helping them in turn offer this priceless commodity to their own supply chain partners. This confidence is passed to the end consumer, providing both promise and security that their diamond has been on a journey filled with our guiding principles of transparency, accuracy and consistency.
Without the ability in instill confidence within the industry and directly the consumer, a diamond holds very little value. Empowering the industry with our expertise channeled into technology and grading allows De Beers to deliver the most reputable product on the market. Diamonds are so much more than just their unique beauty and De Beers Institute of Diamonds ensures their story remains as intact as their sparkle.
Alrosa CEO Sergey Ivanov is stepping down from the position, a Russian news outlet reported.
The executive has decided to resign before the termination of his contract, according to a Google-translated version of an RBC article. He might move into a role at Volga Group, which controls gas and petrochemicals assets, the report added, citing an unnamed source.
An Alrosa spokesperson declined to comment to Rapaport News on Sunday.
Ivanov joined the Russian diamond miner in the top job in 2017, succeeding Andrey Zharkov. Earlier this year, the US named Ivanov as a sanctioned person following Russia’s invasion of Ukraine.
