Diamond News Archives

The headline NAHB market index fell in June from 55 to 49, the eighth straight month of declines marking the worst stretch since the housing market collapsed in 2007, marking the first time since May 2020 that the index fell below the key break-even measure of 50. The reading was not only below consensus of an unchanged 55 print, but was worse than the most pessimistic estimate in the Bloomberg survey of economists.

(IDEX Online) - Customs officer in the US seized three shipments of counterfeit jewelry and watches from Hong Kong which would have been worth $6.88m if genuine.

 

The first shipment had a declared value of $319, but contained 275 assorted Cartier Love bracelets, with retail prices, if genuine, totaling $3.27m.

 

It was addressed to a private residence in Richmond, Virginia, but was intercepted by U.S. Customs and Border Protection (CBP) officers in Cincinnati, Ohio, on 5 August.

 

Later the same day CBP officers seized 500 fake Cartier bracelets, which would have been worth $3.2m.

The following day they seized 13 fake Rolex watches -10 Cosmograph Daytona and three Yacht Master II, destined for a business in Mesquite, Texas. They would have been worth $405,000.

File pic shows Cartier bracelet....

(IDEX Online) - At least 43 diamond workers have been sacked at the Murowa mine, in Zimbabwe, say union leaders.

They protested after subcontractors failed to pay their wages for five months, according to the Zimbabwe Diamond and Allied Minerals Workers Union (Zdamwu).

The mine workers arrived at the premises of their employer, subcontractors Capfire Private Limited, but were barred from entry and subsequently dismissed.

"We have been advised that you have, through Murowa human resources department, verbally terminated the employment contracts of 43 of our members unlawfully," said the union's general secretary Justice Chinhema, according to the New Zimbabwe website.

We have approached Murowa Diamond Company, which is owned by RioZim, for comment.

Pic courtesy Murowa Diamond Company...

The marine treasure includes hundreds of silver and bronze Roman coins from the mid-third century CE and a large hoard of silver coins from the Mamluk period (fourteenth century; about 560 coins, including a large amount of smaller ribbon cut like pieces)