Diamond News Archives

Canada’s Lucara Diamond (TSX:LUC), the company that hit the jackpot in 2015 after finding the world’s second-largest diamond, is stepping up efforts to track gems in the supply chain and advance personalized sales by inking a deal with industry technology developer Sarine Technologies.

Through its subsidiary Clara Diamond Solutions, acquired in February, the Vancouver-based miner will include Sarine’s mapping and planning technologies into its sales platform, which applies algorithms to match rough diamond production with polished manufacturing demand on a stone by stone basis.

Clara, which will hold its first rough diamond sale in the third quarter of the year, also uses blockchain, the technology behind digital currency bitcoin, to allow buyers source rough diamonds tailored to specific polished gems demand, resulting in improved margins for both buyers and sellers.

Under the terms of the collaboration agreement with Sarine, selected diamonds recovered initially at Lucara’s Karowe mine will undergo inclusion mapping using Galaxy technology, creating a digital fingerprint that will be uploaded to Clara’s platform.

Diamond buyers will upload their specific gem requirements in terms of size, cut, colour and quality for their specific needs, creating an order within Clara.

The new process will encourage sales on “a stone by stone basis”, Lucara said, allowing customers to purchase only those rough diamonds that meet their specific manufacturing requirements, which eliminates the need to re-trade and finance unwanted inventories.

Commercial production Karowe, the mine selected for the trial, began in 2012. Since then, it has produced an average of 320,000 carats a year from the treatment of 2.5 million tonnes a year...

Here at GoldSilver we’re not huge fans of commercial banks. Deceptive practices, outrageous fees, viewing customers as prey instead of partners.

But they do control enormous amounts of capital, so keeping an eye on where they stand vis a vis the gold price is worth monitoring.

So, presented here without further commentary, is a sampling of current institutional views on gold:

Goldman Sachs:

“Goldman analysts look for silver to fare better than gold in 2018. Goldman looks for silver to be roughly flat over the next six months and increase over the next 12 months. The bank listed a 12-month silver price forecast of $17.20^[1].”

Td Bank:

“Considering silver’s underperformance, its traditionally higher volatility and historic relative strength during periods when investors are building gold exposure, the white metal is on track to outperform^[2].” [2018 price prediction: $18.18]

HSBC:

“We anticipate^[3] stronger silver prices in 2018. While strong financial markets may present headwinds to silver rallies, any resurgence in risk may spark safehaven demand.” [2018 price prediction: $17.92]

UBS:

“The impact of a rally in prices on silver should be particularly amplified given silver’s underperformance in 2017 – there should be more catching up to do^[4] in this case.” [2018 price prediction: $17.40]

Macquarie:

“We think 2018 could be the year in which it finally recovers its mojo^[5]. We expect the world economy to have another good year, sufficient for silver to re-rate against gold in line with its historical relationship to the strong performance from other industrial metals.” [2018 price prediction: $20.00]

Scotia:

“We believe there is upside for silver^[6]...

(IDEX Online) – Gemological Science International (GSI) announced it has received its ISO 17025 and DAC - REQ – 01 accreditation in Dubai, making it the first international gemological organization to do so in that country.<?xml:namespace prefix = "o" ns = "urn:schemas-microsoft-com:office:office" /?>

The ISO standard covers testing and calibration performed using standard methods, non-standard methods, and laboratory developed methods. The GSI said it is considered the single most important standard for calibration and testing laboratories around the world.

"In order to achieve this type/level of certification by the Dubai Accreditation Centre (DAC), GSI was required to go through a rigorous audit of its diamond, gemstone and jewelry testing processes, procedures and equipment.

“We are especially proud of this achievement in Dubai for it showcases, in an internationally recognized and respected manner, the accuracy, reliability, consistency and validity of the work we are doing not just in Dubai, but around the world,” said Debbie Azar, GSI President & Co-Founder (pictured above). ...

(IDEX Online) – The World Federation of Diamond Bourses (WFDB) has announced that its Asian Summit/Executive Committee meeting is set to be well attended, and will feature a wide range of representatives. <?xml:namespace prefix = "o" ns = "urn:schemas-microsoft-com:office:office" /?>

The meetings take place in Vladivostok, Russia, on August 26-27, and will be hosted by the Moscow Diamond Bourse (MDB). Russian diamond miner ALROSA is sponsoring the meetings in the Far Eastern city which is becoming increasingly important as a base for diamond sales.

Presidents from bourses in the region will be attending the Asian summit, which is seen as a more intimate setting for the discussion of issues pertaining to diamond exchanges in that part of the world. Meanwhile, members of the WFDB Executive Committee from across the world will be attending their meeting in preparation for the World Diamond Congress in Mumbai in October.

The Moscow Diamond Bourse has sent invitations to the Governor of the Far Eastern region, the Governor of Yakutia and the mayor of Vladivostok. There will also be representatives of the Russian Federation's Finance Ministry and of the Gokhran – the precious minerals depository.

In addition, a Kimberley Process review mission visit will take place at the same time as the Asian Summit/Executive Committee meeting.

WFDB President Ernie Blom said, "This meeting comes at a very important time for the international diamond industry. We are delighted to be hosted in Vladivostok and look forward to some very serious discussions ahead of the World Diamond Congress in two months time."...