RAPAPORT... DiamondCorp has resumed development activities at its Lace diamond mine in South Africa, as well as its exploration activities in Botswana. This follows the securing of $11 million (GBP 7.1 million) in new capital, the company reported. DiamondCorp's chief executive officer (CEO), Paul Loudon, said that shareholder backing had provided the company with the capi...

RAPAPORT... De Beers production increased sixfold during the first quarter of 2010 as the company ramped up its output in light of improved market conditions. The diamond giant mined 7.012 million carats during the first three months of the year, compared with only 1.082 million in the same period of 2009, according to a report by Anglo American, which owns 45 percent of De Beers. “Produ...

RAPAPORT... ALROSA reported that it sold $1 billion worth of rough diamonds to the market in the first quarter of 2010, a level that surpassed its previous estimates for the period. In March, the company reported that it expected sales to reach $935 million. ALROSA's first-quarter sales amounted to just under half its total sales for the full year of 2009. Spokespersons fo...

RAPAPORT... Diamdel, which sells De Beers goods to non-sightholders, reported that it sold all 138 lots of rough diamonds presented during the first quarter on their first showing. The company also noted a significant increase in Israeli buyers for both its traditional and online auctions. “From a market’s perspective, we witnessed broad-based participation from all customer groups and a...

RAPAPORT... Sotheby's New York Magnificent Jewels sale, which was held April 20, 2010, totaled $34,662,338, sold 84 percent by lot, and featured a number of rare diamonds. Sotheby’s combined sales of Magnificent Jewels and Always in Style, a one-owner jewelry collection, achieved $39,608,676.In this broadcast, take a look at the following top lots: <> A fancy vivid ye...

RAPAPORT... Retailer Simone & Son, of Huntington Beach, California, introduced its newest infinity halo diamond engagement ring. Designer Shant Dakessian said that the infinity halo engagement ring combines the elegance of pave set diamonds and classic elements of traditional halo engagement rings with the symbol of everlasting love and unity.  “Because it’s the single most important jewe...

RAPAPORT... Customers of UltraDiamonds.com will be treated to a private one-day sales event -- in an Ultra Diamonds store. The invitation-only event will be held either on April 30 or May 1, 2010, depending upon the store location, and requires the customer to make an instore appointment first.  Online invitations were being accepted on a first-come, first-serve basis and appointments are sub...

Press Release: Gemological Science International (GSI) announced that it will donate a portion of the proceeds from its VirtualVault™ to the Jewelers for Children (JFC). “We have supported Jewelers for Children since our firm’s inception, because we believe in giving back part of our success to a worthwhile industry cause. In today’s tough economic times, we are renewing our commitment by donatin...

RAPAPORT... Christopher Smith, the president of American Gemological Laboratories (AGL), Suzan Flamm, the assistant general counsel for the Jewelers Vigilance Committee (JVC)  and others will participate in a hands-on workshop designed to identify composite rubies on June 4, 2010 in Las Vegas. Many retailers, bench jewelers and designers are buying these composites unknowingly and p...

(RAPAPORT) Deseret News: From a Salt Lake City, Utah, Main Street store so tiny he can stand in the middle and nearly touch both walls, Robert McKay has watched the rise and fall of two downtown malls, hemlines and foot traffic. There's no such frenetic change inside McKay Diamonds, where the shopkeeper himself looks much as he did when he and his wife, Frances Ellen, made the one-block move ...

RAPAPORT... Private retail website Rue La La launched a boutique especially for its clients in partnership with charitybuzz.com. The partnership allows for the sale of VIP packages and designer brands to benefit various charities. This private sale lasts 48 hours and began today at 11 a.m. EST. Access to Rue La La is by invitation-only, but for this unique event, Rue La La is providing ...

RAPAPORT... The Luxury Institute reported the results of its  2010 Luxury Brand Status Index (LBSI) survey for jewelers, which identified the brands that delivered "true luxury" based solely upon "the unbiased ratings of wealthy U.S. consumers."  Out of 10 possible points, Graff earned 8.28, Asprey received 8.16 and  Buccellati registered 8.14 points. High-net-worth cons...

(RAPAPORT) Evening Standard: Jurors today watched CCTV footage of a robber holding a gun to the back of a jewelry shop assistant and forcing her to empty more than $60 million (GBP40 million) worth of gems out of display cabinets into a black bag. Petra Ehnar was then pushed into the street outside Graff Diamonds in Mayfair as raiders opened fire before making their getaway in a BMW. In the ...

RAPAPORT... Vaaldiam Mining is preparing to resume diamond production at the Duas Barras mine in Minas Gerais, Brazil by the third quarter. The mine is expected to generate "immediate and self-sustaining cash flow" for the junior miner from the sale of its diamonds and gold. Before rough prices dropped due to the global economic downturn, Duas Barras sales were valued at an average of ab...

RAPAPORT...Firestone Diamonds raised $14.5 million (GBP 9.45 million) through a private placement, the company reported. Approximately $3.4 million (GBP 2.3 million) of these proceeds will be used for the additional capital required to bring the BK11 project into production during the second quarter of 2010, while $3 million (GBP 2 million) will cover earthmoving costs at BK11. The remaining ...

RAPAPORT... Zale Corporation is planning to sell a minority stake to the private equity firm Golden Gate Capital Corp., Bloomberg reported, citing two unnamed sources who claimed to be familiar with the negotiations. The jewelry retailer is seeking $100 million to $150 million for the stake, the report stated. It did not reveal what percentage of the stake is being sold. Zale is said to ...

(RAPAPORT) The Star: The listing of diamond mining giant De Beers would come as a surprise as the company was heavily indebted, analysts said yesterday.  Business Times reported on Sunday that the company planned to list as early as next year. Analysts said that by this time next year it would likely have a primary listing on the London Stock Exchange (LSE) with secondary listings on the JS...

RAPAPORT... BHP Billiton reported on Wednesday that its diamond production fell by 19 percent to 770,000 carats during the quarter that ended on March 31, 2010. The company explained that output declined due to lower average grade recoveries at its Ekati mine in Canada. The volume of ore processed at Ekati fell flat at 1.25 million tons for the three-month period. BHP Billiton owns 80 percent...

Press Release: ImaGem is proud to announce “ImaGem Secure,” a diamond fingerprinting technology. ImaGem Secure, a patented technology, uses a non-invasive, hierarchical imaging technique to identify a diamond after it has been fingerprinted. This service is currently available to consumers at Precision Gem Grading Lab in Philadelphia. Members of the trade can lease or purchase the VeriGem mac...

Press Release: French Polynesia’s pearl cultivation laws have been revised to allow enucleation using precious or semi-precious gemstone beads. Previously, only beads made from bivalve mollusks could be legally used in pearl culturing. The amendment, made public in early March, directly effects the cultivation of the Galatea Pearl™. The Galatea Pearl, formerly known as the Mercy Pearl, is a patent...