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No, this headline did not appear on the front page of the most influential newspaper in the world, but it may if members of the industry don’t start demanding action in the recent lab-made diamond case. If this story appears on the pages of major newspapers, consumer confidence will go down the drain. The industry […]
Responding to the news that a large batch of lab-made diamonds are circulating in the market without proper disclosure, Stephen Lux, President & CEO of Gemesis says the company has been completely forthcoming.
Concerns are rising that a large number of undisclosed lab-made diamonds are circulating in the market. Suspicions were raised after IGI detected a batch of such items a few weeks ago, according to Chaim Even-Zohar.
The decision by the Indian government to force its citizens to convert half their foreign currency to rupee was another of a growing list of directives negatively impacting the diamond industry. The result is that 2012 is set to become an even more challenging year than expected for the trade.
Press Release: Millennial-age consumers—the generation comprising the primary bridal jewelry market—are both far more conscious of social responsibility than previous generations, and far more demanding that the companies they do business with behave responsibly and give back. For jewelers, this means not only being able to reassure customers that your diamonds are conflict-free, but also […]
The World Diamond Council this week voted in favor of discussing a change to the definition of conflict diamonds as described in the Kimberley Process Core Document. While not binding, it is a much-needed evolution. But will it actually result in any change?
The World Diamond Council’s (WDC) 8th Annual Meeting has concluded. The meeting passed a resolution expressing support for expanding the definition of “Conflict” as defined by the Kimberley Process Certification Scheme. Keynote speaker Susan Shabangu, mining minister of South Africa, stated that the challenge to the sustainability of the diamond industry is no longer limited […]
Should the recent conviction of Liberian warlord Charles Taylor for war crimes be seen as the last word on blood diamonds, or a moment to take note of how the diamond industry has been caught offside by new forms of violence that threaten once again to taint a “girl’s best friend“? It’s a question the […]
When it comes to profit margins, the middle man always gets squeezed. From a diamond industry perspective, this is easily assessed with a quick look at the financial statements of companies operating in the various sectors along the pipeline.
The Reserve Bank of India (RBI) directed exporters to convert 50% their foreign currency held in Exchange Earner’s Foreign Currency (EEFC) accounts into rupee within a fortnight to curb the currency’s slide against the dollar.
A new Nintendo strategy game, soon to be released is made of common motifs: a somewhat real background, a series of activities to build your position – and behaviors that are unacceptable in the real world. Like many other such games, “Diamond Trust of London” builds on and preserves existing stereotypes. Unlike most other such games, […]
Recycled diamonds are a growing source of diamonds for traders since the 2008 economic crash and since became a focus for a number of companies in the industry that now specialize in it. One such company, White Pine Trading, recently sold more than $5 million worth of recycled diamonds.