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Ongoing smuggling, money laundering benefits Zimbabwe political elite. Partnership Africa Canada (PAC) alerted the global diamond industry to ongoing smuggling in Zimbabwe, adding that money laundering and a lack of transparency directly benefits certain members of the country’s ruling party.
Traditional jewelry retailers, and diamond dealers for that matter, continue to express concern about the impact that online jewelers have had on the market. With complete price transparency and extensive information available on the web, brick and mortar stores today face a far more knowledgeable consumer than before, armed with strong price comparisons.
On Tuesday, we reported that polished prices had declined year-over-year, for the fourth month in a row. This trend started more than a year ago, when prices began to show a continuously diminishing growth rate that slid straight into the red as diamond prices sank from their July 2012 peak. Month-over-month, polished diamond prices have […]
De Beers’ Diamond Trading Company (DTC) sold an estimated $750 million worth of rough diamonds at its October sight recently, while maintaining prices relatively stable.
For many laymen diamonds are mainly associated with South Africa and rarely with Canada, even though the country is one of the three largest global producers of these precious stones..
The World Diamond Mark (WDM), recently unveiled by the World Federation of Diamond Bourses (WFDB), will hopefully succeed where previous programs have failed.
Two diamond and jewelry industry initiatives made headlines a couple of weeks ago. One was the introduction of the Diamond Source Protocol; the other was a call for generic marketing. These two issues are intertwined. I’m not steadfastly against initiatives suggested by U.S. retail organizations, RJC or anyone else seeking to improve the ethical standards […]
Last August, The Daily Telegraph newspaper reported that Anglo American’s chief executive Cynthia Carroll had been asked by the company’s shareholders to step down.
There is a long-standing perception among diamond traders and jewelers — the more price information becomes available to consumers, the more difficult the emotional pitch becomes. Walking the halls of the recent Hong Kong show, or any of the international diamond bourses for that matter, one gets a sense that the trade is more adept […]
The Diamond Source Warranty Protocol, launched this week by various U.S. trade organizations, is a step in the right direction in that diamond suppliers need to guarantee the authenticity of the goods they are selling.
It was only a month ago that we warned that governments might set regulations restricting diamond imports and trade. The issue was driven by a sense of frustration that Kimberley Process (KP) reform was not advancing and, as a result, alternative solutions might be produced to bypass the impasse.
Forevermark diamonds released by De Beers are distinguished by their beauty, rarity and quality. Their suppliers guarantee that these diamonds were mined in compliance with high industrial, social and environmental standards.