The Diamond Certification Laboratory of Australia (DCLA)
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Rio Tinto has identified a cluster of eight diamondiferous pipes in India.
Rio Tinto Global mining giant would invest $500 million in the diamond mine in Madhya Pradesh India. The potential project would create thirty thousand jobs when approval for the mining lease is granted by local authorities.
Rio Tinto’s CEO said the project would commence once the company has environmental clearance.
Recently there has been a lot of controversy in the diamond and jewellery trade regarding over graded diamonds. This led to one laboratory being banned from listing on Rapaport. Video
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DCLA continues to see overgraded diamonds with no alert to the puplic from the industry associations in Australia.
Unscrupulous dealers have created havoc in the industry again, selling Lab grown diamonds in a mix with natural diamonds.
18 months after laboratory grown diamonds were found mix with natural mined diamonds, the industry is again dealing with the issue.
Leading diamond companies including (DTC) sightholders have been caught up in the illegal practice.
In a statement the GJEPC and SDA clarified that various steps have been initiated to curb the menace including stringent legal action against those caught selling the lab grown diamonds mixed with natural diamonds. As well as manufacturing lab grown diamonds without disclosure.
Israel’s polished diamond exports, increased one percent year on year to $6.27 billion in 2014, according to the Economic Ministry.
The United States is still the major market for Israel’s polished diamonds accounting for Thirty Eight percent of polished exports, Followed by Hong Kong with Thirty percent of Israel’s polished exports.
Polished imports grew five percent to $4.51 billion during 2014. Rough diamond imports increased one percent to $4.02 billion, and rough exports increased four percent to $3.06 billion.
The world diamond industry faced a significant credit crunch amongst other challenges including, higher rough prices. With the robust U.S. market and renewed Asian demand, Israel looks forward to increased trade for polished diamonds in 2015.
The GIA a gemmological organisation will be conducting a seven week graduate diamond diploma from January 8.
The programme combines theory lessons with practical hands on learning and will be held in Jaipur.
Students will learn how to grade in accordance with the GIA’s 4Cs colour, cut, clarity and carat weight of diamond in the D-Z colour range.
As well as how to grade diamonds and detect simulants and treatments like fracture filled diamonds using gemmological equipment.
The course will be taught by instructors from the Mumbai campus.
Mark Gershburg CEO of GSI said that after decades of just mining rough diamonds. Botswana capital Gaborone now cuts, polishes and sells diamonds.
This has created demand for gemmological laboratories. Therefore Gemological Science International has now opened a laboratory in Botswana’s trading centre.
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December sight is estimated at $600 million. With minor adjustments to prices and assortment qualities reported in categories.
Sightholders and brokers reported that 25 percent boxes were deferred or left on the table.
An India a sightholder said that they had already complained at the previous two De Beers sights that prices were too high to polish diamonds with a profit. We haven’t seen any movement from De Beers so there was other option but to leave the goods.
Diamantes said that prices at the ALROSA sale declined, and the negative sentiment at the sight reflected the mood in the rough market at large.
Rough trade on the open market was week, even though boxes were offered at a loss with generous credit terms.
A 89.23 ct D VVs1 pear shape diamond sold for $11 million at the New York Magnificent Jewels sale.
The total auction was $66.6 million and featured a selection of colourless and fancy coloured diamonds.
A pair of pear shaped fancy light yellow diamond earrings weighing 52.88 and 51.46 cts sold for $5.4 million, a 21.30 ct, oval cut fancy light pink Golconda diamond that sold for $4.25 million. And a 1.42 ct oval cut fancy red VS2 diamond sold for $2.16 million.
Phase one of the Panama Gem & Jewellery Centre is completed. Fourteen of the world’s largest diamond trading firms are taking up their allocated offices.
They are among 45 international companies with annual revenues of more than $13 billion, and employ 85,000 people globally. Are Kiran Gems, Diarough NV, Rosy Blue, Bhavani Gems, Interjewel, Jewelex, M. Suersh, the Niru Group, ILI Diamonds of the A. Rachminov Group, Atit Diamonds of the Shairu Gems, Dianco, Ofer Mizrahi Diamonds, S. Schnitzer Diamonds and S. SB Bichachi Diamonds Group.
The Panama Gem & Jewellery Centre is the region’s only recognized diamond exchange.
With a futuristic profile and metallic exterior, and covers 1,578 square meters. A high security perimeter includes a parking area for tenants and visitors, and landscaped gardens. The first level includes the headquarters of the PDE, including its administrative offices, meeting rooms and 300 square-meter trading floor.