WDC Members to Meet in Dubai

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RAPAPORT… The World Diamond Council (WDC) will hold its 13th annual
general meeting in Dubai, the organization said Wednesday.

The AGM will feature discussions of industry recommendations
for the Kimberley Process Certification Scheme (KPCS) review cycle, as well as
the proposed renewal of the WDC system of warranties, a voluntary system of
self-regulation for industry members.

T…

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Grima Jewels to Lead London Auction

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RAPAPORT… Bonhams will auction a collection of watches and jewelry
designed by Andrew Grima at a sale in London later this year.
The event will feature the largest private collection of the
Anglo-Italian designer’s jewels in auction history, Bonhams said Tuesday. The
55 pieces, which Grima made between the 1960s and his death in 2007, will be on
offer as part of Bonhams’ Fine Jewellery …

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India’s Polished Trade Improves in June

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RAPAPORT… India’s polished-diamond exports grew 7% year on year to
$1.98 billion in June, data from the Gem & Jewellery Export Promotion
Council (GJEPC) showed.
By volume, polished exports increased 17% to 3.1 million
carats, with the average price of exports falling 8% to $640 per carat. Polished
imports slid 9% to $228 million, leaving net polished imports 10% higher at
$1.75 bil…

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De Beers HR Chief to Retire After 25 Years

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RAPAPORT… De Beers executive head of human resources Arthur Hewett
will retire from the mining company at the end of September after a quarter of a century, it announced.
Hewett (pictured) started his career with De Beers at Kimberley Mines
in 1991 and has since held a number of senior positions at the company, it said
last week. He has been a member of De Beers’ executive committee for…

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Large Diamonds Boost Letšeng Prices

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RAPAPORT… Gem Diamonds said the average selling price for rough
diamonds from its Letšeng mine grew 20% in the first half as the company
recovered more large diamonds than a year ago.
Production from the high-value project in Lesotho achieved
an average of $1,779 per carat, compared to $1,480 per carat in the same period
a year ago, the company reported Tuesday. The mine yielded four r…

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Higher Grade Drives Alrosa Production Jump

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RAPAPORT… Alrosa’s rough-diamond production grew 14% year on year in
the first half as mining grades increased, the company reported Monday.
Output rose to 19.3 million carats, with the average grade —
the volume of diamonds contained within the ore — 19% higher at 1.19 carats per
tonne.
Most of Alrosa’s major mining and processing divisions
recorded higher carat production and a…

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Moshe Lax to Open Fifth Avenue Diamond Gallery

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RAPAPORT… Moshe Lax, president and CEO and of Dynamic Diamonds, is leaving the wholesale manufacturing business to launch the Facet of Love diamond gallery on New York’s Fifth Avenue.Facet of Love, located on the ground floor of 800 Fifth Avenue, is a 10,000 square-foot, two-story, multidimensional gallery set to open on August 15.Including an outdoor garden, Facet of Love has been designed to p…

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Two Arrested for Trying to Steal Sarine’s IP

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RAPAPORT… Sarine Technologies, a manufacturer of technology products for processing diamonds, said two men were arrested in Tel Aviv, Israel, on suspicion of attempting to obtain Sarine’s intellectual property.Two months ago Sarine employees reported to management that they had been approached by a third party offering to buy intellectual property relating to Sarine’s diamond-manufacturing produ…

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Petra Diamonds Production Disappoints

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RAPAPORT… Shares in Petra Diamonds slumped by 10% after the company reported production was well below planned for the fiscal year that ended June 30. Petra said output rose 8% to 3.7 million carats for the year but that was below the 4.4 million carats it projected earlier as its expansion programs have taken longer than expected to ramp up, CEO Johan Dippenaar said in a trading update Mon…

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Swiss Watch Industry Extends Recovery

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RAPAPORT… Swiss watch exports jumped in June amid stronger demand from China, Hong Kong, Italy and the United Kingdom, the Federation of the Swiss Watch Industry reported. Exports grew 5.3% to $1.83 billion (CHF 1.728 billion) for the month, driven by a 4.6% rise in shipments to Hong Kong, which stood at $205.7 million. Chinese orders increased 11.5% to $125.9 million. Exports to the US slipped …

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