Diamond News Archives

(IDEX Online) – Industry executives convened in late June for the GIA’s Global Leadership Program at Harvard Business School (HBS). <?xml:namespace prefix = "o" ns = "urn:schemas-microsoft-com:office:office" /?>

The annual program in Cambridge, Massachusetts offers a unique opportunity for gem and jewelry executives to explore innovative solutions to industry challenges using the renowned HBS case study method, the GIA said.

The 42 industry leaders – all CEOs or senior executives – from 11 countries examined the theme “Unleashing the Power of People: Genuine Leadership.” Upon successful completion, participants were awarded a HBS certificate of program completion.

“What a great opportunity to be part of such an experience at the Harvard Business School along with a powerful cross-section of industry leaders. It was engaging and thought-provoking and insightful,” said Stanley Zale, vice president of diamond and gemstone procurement at Stuller, Inc.

Developed by HBS and led by renowned Harvard faculty, the GIA Global Leadership Program focuses on new research and best practices, delivering practical value and actionable techniques. From June 25 – 28, the 42 senior leaders representing all areas of the industry – from manufacturing to retail – drew on Harvard’s vast repository of business intelligence and participated in interactive lectures and small study groups to explore the theme “Unleashing the Power of People: Genuine Leadership.” This theme examined how senior executives and developing professionals can cultivate traits found in the leaders they most admire.

“We are thrilled to offer a leadership immersion program with Harvard Business School,” said Susan Jacques, GIA president and CEO. “Since 2014, GIA’s Global Leadership Program has helped industry leaders develop their...

(IDEX Online) – The World Federation of Diamond Bourses (WFDB) has responded to the revised U.S. Federal Trade Commission's (FTC) guidelines released this week as they relate to the issue of descriptors for diamonds. <?xml:namespace prefix = "o" ns = "urn:schemas-microsoft-com:office:office" /?>

The new guidelines are not in line with the Diamond Terminology Guidelines as agreed last year and implemented by the WFDB, the International Diamond Council, the International Diamond Manufacturers Association and CIBJO, the World Jewellery Confederation, said WFDB President Ernie Blom. However, he pointed out that the new guides do require that all lab-grown diamonds must be clearly and conspicuously disclosed.

"We have a united stand regarding nomenclature which was agreed with all the combined knowledge and experience of the leading industry bodies, but the FTC appears to have moved in a different direction," Blom said.

Previously, the FTC's guidelines approved non-mined diamonds: laboratory-created, laboratory-grown, [manufacturer-name]-created, and synthetic as descriptors, and while the first three remain, it has removed the term synthetic. "We feel that these changes provide too much of a bias towards the lab-grown diamond sector," said Blom. "We appreciate the hard work of the FTC, but we do not feel that the views of the diamond sector were taken sufficiently into account, though we acknowledge there was consultation with American industry bodies. The guidelines do not include the views of the global diamond trade which the WFDB represents, although we are pleased that lab-grown stones have to be clearly marked as such.

"Our paramount aim is always consumer confidence and the revision has the potential to cause a degree of confusion. The FTC notes that...

As a precious metals investor, it is important to understand the difference between bullion coins and rounds. Not all precious metals investment products are created equally. Although bullion’s value fluctuates according to market forces, the price of a 1-ounce gold bar can differ from that of a gold coin or round that weighs the exact same amount.

Bullion coins and rounds are an excellent way to invest in gold because they can be liquidated easily, are highly divisible, and have an intrinsic value that cannot be diminished. Understanding the difference between gold coins and rounds can help you make a more informed decision when investing in precious metals.

Bullion Coins

Bullion coins derive their value from the precious metals they are made of. This is referred to as intrinsic value, or melt value. Some classic examples of bullion coins include:

• American Eagles (available in gold, silver, platinum, and palladium)^[1][2]
• Canadian Maples (available in gold, silver, platinum, and palladium)^[3][4]
• South African Krugerrands (available in gold)^[5]
• Austrian Philharmonic (available in gold, silver, and platinum)^[6][7]

In contrast to rounds, coins must have the following attributes:

• Purity no less than 900/1000 
• Legal tender (or have been at some point)
• Produced by sovereign mints
• Face value as currency

Investors may notice that the face value of these coins is incredibly low compared to the value of their precious metal content. In fact, as we write, a 2018 Silver American Eagle has an intrinsic value that is approximately 19x its face value of $1.^[8]

Though bullion coins have a disproportionately low...

A 42.26-carat diamond recovered by Canadian junior Tango Mining (TSXV: TGV) fetched almost half a million dollars at the Kimberley Diamond Exchange, the company announced today.

In detail, the gem was sold on tender for $11,267 per carat.

The unnamed diamond was recovered from run of mine gravel at the company’s Oena mine, an 8,800-hectare operation located on the lower Orange River, Northern Cape Province, South Africa.

According to Tango, Oena is known for producing high quality and large sized diamonds, the largest one weighing 79 carats. Since the company acquired the mine via the purchase of a controlling interest in African Star, the site has yielded 2019 carats, including production from both ROM material as well as pan tailings and bantam material.

In a press release, the Vancouver-based miner said that Oena diamonds have been sold at an average price of $1,290 per carat.

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