Sunday, 23 February 2020

Alrosa finds first large coloured diamond at new Yakutia mine



Russia’s Alrosa, the world’s top diamond miner by output, has found a 17.4-carat bright yellow gem-quality precious rock at its new Verkhne-Munskoye deposit in Yakutia, which started operations in 2018.
The diamond, recovered in mid-February from the Zapolyarnaya kimberlite pipe, is the first large coloured stone found at the site, the company said.
Alrosa, which did not disclose the estimated value of the diamond, said it would be assessed and evaluated by its experts in coming days.
Diamond miners and traders have been hit hard in the past year by weak market conditions. These factors have taken a major toll on producers of small stones due to an oversupply in that segment.
De Beers reported Thursday its worst set of earnings since Anglo American (LON:AAL) acquired it in 2012.
The world’s No. 1 diamond miner by market cap said demand for rough diamonds from polishers and cutters was weak last year due to the impact of US-China trade tension and the closure of US retail outlets. Many companies in the so-called midstream are struggling to obtain financing, it said.
Alrosa believes the situation is about to change as it’s already seeing the first signs of stabilization in the sector.
Increasing demand for synthetic diamonds has also weighed on prices. Man-made diamonds require less investment than mining natural stones and can offer more attractive margins.
Industry consultant Bain & Co., however, believes that while glut that’s depressing the diamond market will probably be cleared early this year, it will take at least another 12 months for the market to fully recover.
“The industry’s first and strongest opportunity to rebalance and regain growth will be 2021,” said Bain in a report released in December, adding that supply could fall 8% that year.
Source: DCLA

Alrosa finds first large coloured diamond at new Yakutia mine



Russia’s Alrosa, the world’s top diamond miner by output, has found a 17.4-carat bright yellow gem-quality precious rock at its new Verkhne-Munskoye deposit in Yakutia, which started operations in 2018.
The diamond, recovered in mid-February from the Zapolyarnaya kimberlite pipe, is the first large coloured stone found at the site, the company said.
Alrosa, which did not disclose the estimated value of the diamond, said it would be assessed and evaluated by its experts in coming days.
Diamond miners and traders have been hit hard in the past year by weak market conditions. These factors have taken a major toll on producers of small stones due to an oversupply in that segment.
De Beers reported Thursday its worst set of earnings since Anglo American (LON:AAL) acquired it in 2012.
The world’s No. 1 diamond miner by market cap said demand for rough diamonds from polishers and cutters was weak last year due to the impact of US-China trade tension and the closure of US retail outlets. Many companies in the so-called midstream are struggling to obtain financing, it said.
Alrosa believes the situation is about to change as it’s already seeing the first signs of stabilization in the sector.
Increasing demand for synthetic diamonds has also weighed on prices. Man-made diamonds require less investment than mining natural stones and can offer more attractive margins.
Industry consultant Bain & Co., however, believes that while glut that’s depressing the diamond market will probably be cleared early this year, it will take at least another 12 months for the market to fully recover.
“The industry’s first and strongest opportunity to rebalance and regain growth will be 2021,” said Bain in a report released in December, adding that supply could fall 8% that year.
Source: DCLA

Thursday, 20 February 2020

Bespoke certified diamond jewellery insurance

Unlike other insurers, we only insure certified diamond jewellery. As the      diamond experts, we appreciate the worth of your diamonds and guarantee to replace them like for like.

Bespoke certified diamond jewellery insurance

Unlike other insurers, we only insure certified diamond jewellery. As the      diamond experts, we appreciate the worth of your diamonds and guarantee to replace them like for like.

De Beers Optimistic After 2019 Earnings Slump


De Beers gave a positive outlook for 2020 due to an improvement in the industry’s inventory situation, despite growing concerns about Chinese demand.
Early data from the holiday season indicate midstream stock levels are more balanced than they were, the company reported Thursday in parent company Anglo American’s annual financial results. The miner maintained its production forecast of 32 million to 34 million carats for the year, citing a “currently anticipated improvement in trading conditions compared with 2019.”
Last year was the worst for De Beers in the past decade, as rough demand plummeted amid an oversupply of polished in the manufacturing and trading sector. The miner reported that underlying earnings slid 87% to $45 million, while revenue fell 24% to $4.61 billion, its lowest level since the financial crisis.
Rough sales declined 26% to $4 billion, with volume down 8% to 30.9 million carats. De Beers’ average selling price slumped 20% to $137 per carat, reflecting a 6% decline in like-for-like rough prices, as well as weak demand for higher-value diamonds.
Sales from other divisions, which include the Element Six industrial-diamond unit and Lightbox, its lab-grown brand, fell 17% to approximately $570 million, according to Rapaport calculations.
Last year started on a weak note, as stock-market volatility and the US-China trade war led to sluggish 2018 holiday sales, leaving the trade with higher stock levels than it had expected, the company explained. The situation worsened as US retailers took more goods on memo and pruned their physical-store networks, while consumers shifted further to online buying, reducing the need for inventory. The midstream also suffered from tight bank financing, dampening demand for more rough, De Beers noted.
De Beers observed “stable” consumer demand so far in 2020, especially in the US, but cautioned that several uncertainties — including the coronavirus outbreak — could pose a threat. An increase in online purchasing has caused retailers to destock, while US-China trade tensions and geopolitical escalations in the Middle East could also affect economic growth and consumer sentiment, the company added.
Source: DCLA

De Beers Optimistic After 2019 Earnings Slump


De Beers gave a positive outlook for 2020 due to an improvement in the industry’s inventory situation, despite growing concerns about Chinese demand.
Early data from the holiday season indicate midstream stock levels are more balanced than they were, the company reported Thursday in parent company Anglo American’s annual financial results. The miner maintained its production forecast of 32 million to 34 million carats for the year, citing a “currently anticipated improvement in trading conditions compared with 2019.”
Last year was the worst for De Beers in the past decade, as rough demand plummeted amid an oversupply of polished in the manufacturing and trading sector. The miner reported that underlying earnings slid 87% to $45 million, while revenue fell 24% to $4.61 billion, its lowest level since the financial crisis.
Rough sales declined 26% to $4 billion, with volume down 8% to 30.9 million carats. De Beers’ average selling price slumped 20% to $137 per carat, reflecting a 6% decline in like-for-like rough prices, as well as weak demand for higher-value diamonds.
Sales from other divisions, which include the Element Six industrial-diamond unit and Lightbox, its lab-grown brand, fell 17% to approximately $570 million, according to Rapaport calculations.
Last year started on a weak note, as stock-market volatility and the US-China trade war led to sluggish 2018 holiday sales, leaving the trade with higher stock levels than it had expected, the company explained. The situation worsened as US retailers took more goods on memo and pruned their physical-store networks, while consumers shifted further to online buying, reducing the need for inventory. The midstream also suffered from tight bank financing, dampening demand for more rough, De Beers noted.
De Beers observed “stable” consumer demand so far in 2020, especially in the US, but cautioned that several uncertainties — including the coronavirus outbreak — could pose a threat. An increase in online purchasing has caused retailers to destock, while US-China trade tensions and geopolitical escalations in the Middle East could also affect economic growth and consumer sentiment, the company added.
Source: DCLA

Wednesday, 19 February 2020

The invisible engraving that could see you save hundreds of dollars on wedding ring insurance



  • Diamond grader Roy Cohen is urging Australians to get diamond rings engraved
  • He argued a serial number on diamond girdle could stop illegal pawn shop sale
  • Insurance premiums can also be reduced for jewellery inscribed with a code 
A romantic marriage proposal is a significant milestone in many people’s lives.
Engagement rings can also cost tens of thousands of dollars and are commonly stolen in home invasions.
Jewellery experts are urging engaged couples to get the girdle of the diamond engraved so they can’t as easily be pawned.
This microscopic serial number could be enough to get the ring returned, and save newlyweds potentially hundreds of dollars a year in insurance premiums.
Roy Cohen, a third-generation diamond grader originally from South Africa, said these minute inscriptions increased the chance of a stolen ring being reunited with its rightful owner.


‘It’s invisible to the naked eye, it can only be seen with magnification but it’s basically a serial number,’ he told Daily Mail Australia.
‘Usually what happens is, at any pawn shop, they will take a jeweller’s loupe and they will actually have a look at the item.
‘If there’s a certificate number on the girdle of the diamond and the diamond’s been sold without the certificate, usually that does raise alarm bells.’
Mr Cohen, the director of Diamond Certification Laboratory of Australia, said engraved serial numbers on diamonds could be checked against a database, arguing this was more effective than leaving a diamond un-engraved and relying on police detective work to find a stolen item.
‘If somebody steals a diamond ring from a house in Sydney and then goes to sell it in Melbourne, there’s no way that they’re going to get found out because there’s not a lot of co-operation between states,’ he said.
His DCLA company began inscribing diamond rings in Australia in 2001, following his move from Johannesburg to Sydney.
It has now formed a partnership with underwriter Woodina to form Certified Diamond Insurance, which only insures jewellery with an inscribed serial number. 
Mr Cohen, who has three decades of experience as a diamond grader, vowed customers could save up to 50 per cent off their premiums compared to traditional home and content packages.
A diamond ring worth $10,000 can be insured for $306 a year. 
Jewellery is the third most stolen item stolen from Australian homes, after cash and laptops, an analysis of official burglary figures by insurer Budget Direct found.   
Source: DCLA

Tiffany Buys Back Titanic Watch for Record $1.97m

Tiffany & Co paid a record $1.97m for a gold pocket watch it made in 1912, and which was gifted to the captain of a ship that rescued mo...