Diamond News Archives

That makes it highly unlikely that the government will be able to issue the fourth-quarter GDP report due Jan. 30. A Bureau of Economic Analysis official could not say when or whether the GDP report can be issued. "There is no way for us to know until we get back and evaluate all the various data sources that go into the advance estimate of GDP," the official said.

The official asked not to be named because employees are prohibited from doing government work on furlough. "It's a little more complicated this time compared to similar events in the past," the BEA official said, "because some data-providing agencies are open, while others are closed. Once we are back up and running, we will complete our evaluation and publish a revised press release schedule for all of our economic indicators."

Coincidentally, the GDP report was to have been issued on the second day of the Federal Reserve's first meeting of the year, where the central bank is struggling to figure out the extent of the slowdown and how to tailor interest rate policy.

But in a statement, a Fed spokesperson appeared to play down the importance of the missing data so far in the central bank's decision-making.

"While having the full complement of government data available would be beneficial, the Federal Reserve's staff assessment of economic conditions takes into account a wide range of information from government and private-sector sources, as well as readings on financial and international developments, and staff continue to provide a detailed economic picture for policymakers," the statement said....

The significant diamond sector reforms being enacted by the President of Angola, His Excellency Joao Lourenco, to grow investment into the Angolan mining sector, will take another major step forward this month as the inaugural competitive bid sale of large and premium-quality diamonds from the high-quality Lulo diamond mine takes centre stage in the Angolan capital of Luanda.

The sale will mark a significant milestone for the Angolan diamond mining industry, being the first diamonds offered for sale in a competitive process under the new diamond marketing policy enacted by President Lourenco and the Angolan Council of Ministers.

The historic Lulo competitive bid sale, which is scheduled to close on 31 January 2019, is being organised in Luanda by SODIAM, the state-owned company responsible for the trading of diamonds
in Angola.

The new diamond marketing reforms have generated significant interest from some of the world’s leading diamantaires and large stone manufacturers, who will participate in the inaugural event.
Seven exceptional Lulo diamonds, showcasing some of the high-quality production of Angola, will be offered individually, including a 46 carat pink and six top-colour Type IIa white gems ranging from 114 carats to 43 carats.

The diamonds are being offered for sale by Sociedade Mineira Do Lulo (“SML”), which holds the alluvial mining licence to the prolific Lulo concession in Angola’s diamond-rich Lunda Norte region. SML boasts the world’s highest average US$ per carat alluvial diamond production.

SML is a successful and long-running partnership between ASX-listed Lulo mine operator Lucapa Diamond Company Limited (“Lucapa”), Angolan diamond mining...

(IDEX Online) – The Board of Directors of CIBJO, the World Jewellery Confederation, has approved the first edition of the Responsible Sourcing Book, which provides a framework and guidance for due diligence related to the responsible sourcing of gemstones and precious metals in the jewelry sector. <?xml:namespace prefix = "o" ns = "urn:schemas-microsoft-com:office:office" /?>

It becomes the latest in CIBJO's Blue Book series of definitive industry guides for standards and nomenclature, joining the Blue Books for diamonds, colored gemstones, pearls, precious coral, precious metals and gemological laboratories, CIBJO said.

The new Responsible Sourcing Book is the product of a year-long project, which included the creation of the CIBJO Responsible Sourcing Commission and a policy document that was presented at the 2018 CIBJO Congress in Bogotá in November. Before its release, it was subject to a rigorous internal and external review process that included experts both from the jewelry sector and the international community.

"Recommending guidelines and procedures by which participants in the jewelry supply chain may undertake supply-chain due diligence to support responsible sourcing, the Responsible Sourcing Book is designed to serve as guidance for ethical business practices and supply-chain due-diligence systems in the jewelry sector. It is not a definitive code of practice in and of itself and cannot be described or interpreted as a compliance mechanism or chain of custody."

Referencing the Organisation for Economic Cooperation and Development (OECD) Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas, the Responsible Sourcing Book insists on compliance with the Kimberley Process Certification Scheme and the World Diamond Council's System of Warranties for diamonds, and supports the United Nations Guiding Principles on Business...

The first competitive bid sale of large and premium-quality diamonds from the Lulo diamond mine will take place on January 31, 2019, in the Angolan capital of Luanda.

According to a press release issued by Australia’s Lucapa Diamond (ASX:LOM), owner of a 40% stake in the prolific mine, the stones for sale will the first diamonds offered in a competitive process under the new diamond marketing policy enacted by President Joao Lourenco and the Angolan Council of Ministers.

The bid is organised in by state-owned diamond-trading firm SODIAM while the diamonds are being offered by Sociedade Mineira Do Lulo, which holds the alluvial mining licence to the Lulo concession and works in partnership with Lucapa, who has a 35-year license for the project. Empresa Nacional de Diamantes E.P. and Rosas & Petalas, also form part of the partnership.

Seven exceptional Lulo diamonds, including a 46-carat pink and six top-colour Type IIa white gems ranging from 114 carats to 43 carats, will be showcased.

“Lulo diamonds have already established a reputation as being among the highest quality gems in the world. Together with our Angolan partners, Lucapa is delighted that SML will now start showcasing these exceptional diamonds to the strong interest shown by the world’s leading diamantaires,” Lucapa Diamond Chief Executive Officer, Stephen Wetherall, said in the media brief.

Lulo, a 3,000 square-kilometre concession located in Angola’s diamond-rich Lunda Norte region, hosts the world’s highest dollar-per-carat alluvial diamonds and has produced some of the largest gem-quality rocks in the planet.

Angola, on the other hand, is the world’s No.4 diamond producer by value and No.6 by volume.

The post Angola to host first competitive diamond bid sale appeared first on MINING.com...