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Harry Winston Diamond Corp. (HW)’s $1 billion sale of a luxury unit to Swatch Group AG (UHR) provides the cash to invest more in diamond mining, a business that last year was more than twice as profitable as jewelry, Liezel Hill and Christopher Donville write in an article posted by Bloomberg News at www.businessweek.com on […]
The long and winding road from wrestling with deep losses and large debts to the highlights of profits, major acquisitions and large returns on a divestment, was as precarious as the ice road leading to Canada’s diamond mines.
“… the game of Snakes and Ladders captures, as no other activity can hope to do, the eternal truth that for every ladder you hope to climb, a snake is waiting just around the corner, and for every snake a ladder will compensate,” Salmon Rushdie, Midnight’s Children.
Weakness crept into the diamond market in August 2011. In the year that followed, 2012 proved to be one filled with notable changes and challenges, some of which will continue to have an impact in 2013.
The moment when a leading company decides to float on the stock market is always a moment of uncertainty. All eyes are pointed to its early results, as analysts try to figure out to correctly measure its performance.
Mike Roman, th e late former chairman of Jewelers of America (JA), once told Martin Rapaport, “Don’t worry about diamonds. The industry will be okay, as long as there are three things: Christmas, sex, and guilt.” The good news is that each year he has proven correct, and his premise holds true for 2013, if […]
Perhaps 2012 was not as much of a rollercoaster year as it was a year of evolution and change. Rough prices declined, the Oppenheimer’s cashed out, BHP Billiton found a buyer (but Rio Tinto didn’t), production was curtailed, and calls for marketing support went largely ignored by miners. An examination of the DTC price list […]
Bain & Company said that the surprisingly strong diamond demand growth posted in 2011 and uncertainty around fourth-quarter holiday sales in 2012 introduced significant variables into the demand outlook for the year. China and India accounted for most of the diamond demand growth last year.
ALROSA, the lesser known of the two diamond mining giants, is emerging from its own shadows and may exert greater influence on the industry in 2013. While it still has a ways to go, it has become more transparent about disclosing its resource base, building its client list and developing its marketing strategy.
Is it possible for a list of accomplishments to be both impressive and underwhelming? Take what happened at the Kimberley Process Plenary this year, Rob Bates writes on www.jckonline.com. This has to be one of the most impressive Plenaries ever, with the U.S. piling up quite a tally of achievements.
The rough and polished diamond market had been limping throughout the year as the Euro-debt crisis, sluggish economic recovery in the U.S and tight liquidity continues.
De Beers Diamond Trading Company (DTC) December sight had an estimated value of $490 million with sightholders still concerned about their ability to profit from manufacturing.