Diamond News Archives

(IDEX Online) - The power is still out at Firestone Diamonds plc's Liqhobong mine in Lesotho. The company said that despite attempts to resolve the problem of power fluctuations, there is not enough power to operate the mine's processing plant. 

The disruption is part of two-month maintenance shutdown by the Muela Hydropower Station (MHS), which supplies the mine's power. Since the shutdown began on October 1, the mine experienced unexpected voltage fluctuations that caused the drives of the plant equipment to trip and as a result, operations have been severely disrupted.

To try to minimize losses, the company is bringing in diesel generator units that will be used to operate the processing plant. The generators are expected to be in place by the end of October and will become fully operational in early November.

This measure will remain in place until grid power is restored, which will only take place on December 1.

The company said it expects an increase in normal operating costs due to the cost of renting the generators and the associated diesel consumption. ...

The threat of a recession has been a prominent discussion in the media over the past few months.

Economist and “Narrative Economics” author Robert Shiller is predicting a coin-flip as to whether a recession is on the horizon.

“There will be another recession,” Shiller said on FOX Business’ "Cavuto: Coast to Coast."^[1] “I give it a 50% chance in 2020. We're on a tipping point now.”

Shiller also addressed how the most recent and largest stories are set to affect the U.S. and global economies^[2].

GET FOX BUSINESS ON THE GO BY CLICKING HERE^[3]

“Economic narratives affect economic behavior.” 

- Robert Shiller, Economist and 'Narrative Economics' author

But aside from discussing today’s stories, Shiller talked about the booming housing market and if there's economic optimism there.

CLICK HERE FOR THE ALL-NEW FOXBUSINESS.COM^[4]

“Home^[5] prices are still going up, and they're starting to fade,” Shiller said. “But it reminds me uncomfortably of 2005 when we were in the same circumstance — home prices were going up and the talk was changing. But I don't see that talk is as focused on real estate as it was in 2005.”...

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(IDEX Online) - The 6th Mediterranean Gem and Jewelry Conference (MGJC) will focus on the dual subjects of the valuation and marketing of diamonds and gemstones. The conference will take place in Thessaloniki, Greece from May 15-17, 2020. 

The conference is designed as a bridge between business and appraisal conferences and scientific conferences. It focuses on current trade problems and offers solutions through workshops with standard and advanced affordable instruments.

Among the workshops already confirmed are: 

• Testing, assessing quality and valuing mounted gemstones with instructors: Shirley Mitchell (SDM Valuations, UK) and George Spyromilios (IGL, Greece).

• Diamond optical performance with instructors Sergey Sivivolenko and Roman Serov (Octonus, Finland / Russia).

• ID of rubies, sapphires and emeralds with standard instruments by instructor Branko Deljanin (CGL Canadian gemlab, Canada) who will also be the instructor for ID of coloured diamonds (natural, treated and lab-grown) and ID of colourless diamonds (natural, treated and lab-grown).

• ID of treated, synthetic and natural gems, loose and mounted with advanced instruments by Alberto Scarani and Mikko Astrom, (MAGILABS Italy / Finland) who are also instructors for ID of treated, synthetic and natural diamonds, loose and mounted with advanced instruments.

MGJC is organized by CGL Canadian gemlab Canada and IGL Greece.

Click here^[1] for registration and a detailed program....