Diamond News Archives

U.S. stocks extended losses early Thursday as bond yields charged forward. The moves followed data on the labor market that disappointed before the open and confirmation from the European Central Bank of its intention to raise interest rates next month.

(IDEX Online) - This year could prove to be a tipping point for lab growns, say IDEX Online's expert analysts in their new 2021 Pipeline report.

The industry enjoyed a "dream year", but the mined sector lost a potential revenue of $20bn to lab growns, they say.

Sanctions on Russian rough - around 30 per cent of global supply - could now force high-end jewelers to start using lab growns in their pieces, and adjust their carefully crafted marketing messages.

"High Street jewelers and high-end jewelry chains, traditionally the greatest defenders of the natural product, have lost their inhibitions and are now the main LGD drivers, without reputational fears," say Pranay Narvekar and Chaim Even Zohar in their newly-published 17-page 2021 Pipeline Report entitled  Lamenting the Natural Producers' Missed Income.

They say lab growns have become "legitimized", in particular by De Beers' Lightbox offering, and they predict a time when any price differential will disappear. "The market will know only one product, called diamonds."

Last year's Pipeline report predicted that the pandemic could prove to be a blessing in disguise. In 2019 it warned of an uncertain future.

Click here^[1] to read the new Pipeline 2021 report in full.

And click here^[2] to see the new Tacy Diamond Pipeline Chart, prepared by Pharos Beam Consulting....

The story behind why San José has been considered the "holy grail" of shipwrecks is that it was loaded up with precious metals from South America and headed to Europe when the British Navy sank it in 1708. CBS News said experts estimate the treasure to be "200 tons of gold, silver, and emeralds."

(IDEX Online) - Sanction-hit Alrosa is expected to make no dividend payment to shareholders for the second half of last year, citing the need to "maintain sustainability of its operations".

The miner, a third owned by the Russian government, today announced that its supervisory board was recommending the move.

In 1H 2021, Alrosa paid out just over $1bn (RUB64.7bn) to shareholders, more than 70% of the company's net profit for the year.

The US and the EU imposed a ban on rough diamond imports from Russia after it invaded Ukraine.

The US subsequently added Alrosa to its Specially Designated Nationals (SDN) list, excluding the company it from its banking system and barring it from trade with US citizens. 

Alrosa made no direct mention of sanctions in a statement.  It said: "Considering current situation, and given interim dividend payments in 2021 which accounted for 70% of 2021 net income (exceeding required threshold of 50%), the board decided not to recommend H2 dividends, as the company deems paramount importance to maintain sustainability of its operations and cater its social obligations as the company remains the key employer in the region and lives and well-being of its employees depend on the company's ability to run its mining business safely and in sustainable fashion, without compromising any sustainability aspect of its operations."

Shareholders are due to vote on the supervisory board's recommendation at the AGM on 30 June. ...