Na hlavice do vrtných súprav sa používajú priemyselné diamanty, čím vačší a super kvalitný ten ide určite inde, tie nie je problém predať hlavne kvalitu FL a IF.

Pre podobné odborníčky v predaji ,dobrovolne idem sa venovať ťažbe v Afrike ,aby som nemusel počúvať chytrolínstva od takých predajcov, ale to je vec niektorých firiem ohladne vťahovania do predaja hociko.😞 😞 👿

Rapaport Weekly Market Comment Sept. 28, 2012

Polished trading selective and price sensitive as Hong Kong show reflects mediocre Far East demand ahead of China’s Oct. 1 holiday. Rough demand weak with tight cutters’ profit margins. ALROSA’s Jan.-Sept. sales -7% to $3.2B. Petra Diamonds FY revenue +44% to $317M, net loss of $2M vs. profit of $59M. Sotheby’s NY sells $16M (79% by lot) with 5.08ct., VVS2 brilliant-cut fancy light pink diamond selling for $1.4M ($280,807/ct.). Belgium’s Aug. polished exports -23% to $404M, rough imports -46% to $656M. India’s Aug. polished exports -41% to $1.4B, rough imports -37% to $523M. THE RAPAPORT PRICE LIST WILL NOT BE PUBLISHED NEXT WEEK OCT. 5, DUE TO THE JEWISH HOLIDAY OF SUKKOT.

RapNet Data: Sept. 27

Diamonds 970,002
Value $6,035,515,088
Carats 1,035,840
Average Discount -27.89%

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RAPAPORT ANNOUNCEMENTS

Our offices will be closed for the following Jewish holidays:

Sukkoth: October 1-2, and 8-9

With best wishes for the new year,
The Rapaport Group

October
15-25
Mon-Thu

Rapaport Melee Auction

New York & Belgium

View details.

October
17-24
Wed-Wed

Rapaport Single Stone Auction

New York & Israel

View details.

QUOTE OF THE WEEK
The PureFunds ISE Diamond/Gemstone ETF aims to track the supply and demand cycles of the rough and polished precious stone industry. The demand for diamonds and other gemstones has substantially increased as global investors look for hard assets as a potential safe haven from the degradation of fiat currency.

Paul Zimnisky | PureFunds

Careers@Rapaport 	  

The Rapaport Group is growing rapidly. If you wish to work with the best and brightest, join us. We have great opportunities for trading managers, gemologists, sales assistants, and entry level positions for our offices in New York, Antwerp, Mumbai, Dubai, and Shanghai. View jobs now.

INDUSTRY 	  

De Beers Preps for Shortfall

De Beers wont meet sightholder demand for the next six months due to a shortfall in production. While production forecasts are intact, De Beers supply depends more on the type of goods it can present, which may not match sightholder requests. Nonetheless, De Beers has not adjusted its previously stated forecast of 28 million to 30 million carats in 2012, representing a decline of up to 11% from 2011. The company’s production in the first half of the year fell 13% to 13.449 million carats. ‎ Sightholders rejected Diamond Trading Company (DTC) goods at the June and July sights largely as De Beers maintained high prices despite the drop in demand. DTC reduced its prices by an average of approximately 10% at the August sight.

HK Show Ends With Steady Trading

Diamond trading at the Hong Kong Jewellery & Gem Fair reflected a steady, but lower-than-expected level of demand out of the Far East. Sales for dealers were in line with ‎expectations, which simply underscored how the market is selective and price sensitive at this point. Overall, there was a steady demand for certified VS2-SI, H-, Triple Ex diamonds, larger stones over 10-carats and princess, pear, oval and heart shapes. Demand continued to be weak for VVS goods. Rough prices also remained a concern for manufacturers who claim they still can’t profit from ‎the cutting and polishing process. The show did not provide the boost for the season ‎that dealers hoped for.

RETAIL & WHOLESALE 	  

Rapaport IDC Videos

The Rapaport International Diamond Conference (IDC) opened in Mumbai with P.M. Saleem, the commissioner of customs at Mumbai International Airport, remarking on the future of Indias diamond industry, economy and consumer perception of diamonds and jewelry and what the emerging middle and upper income classes means for demand. In this video, Rapaports Avi Krawitz also presents facts and figures relevant to the diamond industry in 2012 in the context of the global economy. Other speakers include Dr. Suresh Surana, the founder of RSM Astute Consulting Private Ltd., Nishant Shah, a partner at Economic Laws Practice and Ajit Tolani, a partner at Economic Laws Practice. WATCH NOW

Martin Rapaport, the chairman of the Rapaport Group leads a panel discussion of industry leaders and advisors to address Indias regulatory and banking environment. Panelists included Dr. Suresh Surana, the founder of RSM Astute Consulting Pvt. Ltd., Ajit Tolani and Nishant Shah, partners at Economic Laws Practice, Vasant Mehta, previous chairman of the Gem & Jewelry Promotion Council (GJEPC), Sanjay Kothari, the vice chairman of GJEPC and Manish Jeloka, the head of consumer bank treasury for India for Standard Chartered Bank. WATCH NOW

Tackling the issues of synthetics, Matthew Hall, the director of Gemological Institute of America (GIA) Mumbai laboratory operations and Mark Brauner, the co-chief executive of International Gemological Institute (IGI) Worldwide answers how synthetic diamonds influence the diamond market. WATCH NOW

U.S. Consumer Confidence Rises

Consumer confidence in the U.S. is up sharply from one year ago, according to the Conference Board. The groups Consumer Confidence Index® for September 2012 rose to 70.3 points from 45.4 points in September 2011. The reading this month was also higher than the measure in August of 61.3 points. The Expectations Index increased to 83.7 points from 54 and the Present Situation Index rose to 50.2 points from 32.5 points one year ago. Nonetheless, the readings have much room for improvement in order to reach the benchmark of 100 points.

Sothebys Sale Tops $16M

Sotheby’s New York completed its sale of important jewels, which achieved a total of $16,383,856 and was 79.3% sold by lot. The top lot was a 5.08-carat, VVS2 brilliant-cut fancy light pink diamond that sold for more than twice its high presale estimate at $1.4 million or $280,807 per carat. A 3.09-carat, VS1 pear-shape fancy intense orangey-pink diamond pendant also fetched $770,500 or $249,353 per carat and a 13.22-carat Kashmir sapphire and diamond ring sold for $578,500.

Buxbaum to Host Fall Auction

Buxbaum Jewelry Advisors will accept sealed bids until 6 p.m. (EDT) on October 19, for millions of dollars’ worth of jewelry and diamonds in its first fall auction. Viewing is scheduled for New York from October 15 to 19 at Malca-Amit, at 580 Fifth Avenue, and in Los Angeles from October 8 to 12 at Malca-Amit, 550 South Hill Street, Suite 1590. The upcoming sale will include melee as well as a larger diamond lots consisting of 70-pointers, 1-carat, round diamonds, and a selection of finished jewelry that includes an array of pieces with diamonds and colored gemstones.

CRISIL Sees Continued Momentum

Indian jewelry retailers are likely to maintain momentum as gold prices rise and jewelers add new stores, the CRISIL Ratings agency concluded. Jewelry retailers are expected to continue expanding their footprint in new regions to drive growth, which will help them brave the current economic slowdown. Consequently, the credit risk profiles of jewelry retailers are expected to remain stable over the midterm, CRISIL noted.

Rio Tinto Unveils Argyle Empress

Rio Tinto combined pink diamonds with jade for a statement necklace, known as The Argyle Empress, designed by luxury jeweler Chow Tai Fook. The value was placed at $5.5 million. The necklace combines more than 43 carats of Argyle pink diamonds with 33 imperial jade beads. The Argyle pink diamonds include five of its signature pink tender diamonds, collected over the past five years. The necklace has been designed around two beautiful pink diamond encrusted flower motifs depicting the Hong Kong Camellia, the perfect counterpoint to the verdant colors of the leaves depicted in the surrounding jade, the company explained.

MINING 	  

ALROSA Sales -7%

ALROSAs preliminary sales figure for September was about $400 million worth of rough and polished diamond, while for the first nine months of 2012, ALROSA sold about $3.18 billion worth of goods. This is about 7% less than last year. The Russian diamond company also reported it unearthed a rare 158.20-carat diamond worth more than $1.5 million at factory No. 16 of the Nyurbinsk mine in the Republic of Yakutia, in northeastern Russia.

Petra Reports Loss of $2M

Petra Diamonds reported fiscal year revenue rose 44% year on year to $316.9 million for the 12 months that ended on June 30. However, the mining company reported a loss of $2.1 million compared with profit of $59.2 million one year ago in part because mining and processing costs surged 52% to $222.6 million and Petra recorded a foreign exchange loss of $38.6 million. Rough diamond production rose 98% year on year to 2.2 million carats. Petra Diamonds confirmed that its expansion plans remained on target to increase its production to 5 million carats by year 2019.

PureFunds Plans Diamond ETF

FactorShares submitted a prospectus with the U.S. Securities and Exchange Commission (SEC) to market three new exchange-traded funds (ETFs) under the PureFunds brand name. The funds will invest in diamond mining and retailers (PureFunds ISE Diamond/Gemstone ETF), exploration companies (PureFunds ISE Mining Service ETF) and silver mining companies (PureFunds ISE Junior Silver ETF) and have expense ratios of 0.69 percent. The fund managers plan to launch the ETFs before the end of 2012. The underlying index for the diamond-specific fund tracks the performance of the largest and most liquid companies involved in the gemstone industry, according to the filing. Three of the six largest stocks were Petra Diamonds Ltd., Harry Winston Diamond Corporation and Chow Tai Fook Jewellery Group.

DiamondCorp. Secures Funds

DiamondCorp secured a $26.7 million loan from South Africa’s Industrial Development Corporation (IDC) to develop a block cave mining operation at the company’s owned Lace mine. The loan covers 77% of the peak funding requirements for the South African project, in which DiamondCorp owns a 74% stake. The company will repay the loan over a seven-year period at an interest rate of 2% over South Africas prime rate, which is currently 8.5%.

Doyle Joins Paragons Board

Martin Doyle, a former senior vice president of exploration for De Beers Canada, will join the board of directors of Paragon Diamonds Limited. Doyle, 58, began his career with Anglo American in 1977 as a field geologist conducting diamond exploration in Botswana and he has worked in many other parts of the world in progressive roles for De Beers and Anglo American.

STATS 	  

India

Aug. $Mil %Chng. YTD $Mil %Chng.
Polished exports $1,414 -41% $11,775 -41%
Polished imports $365 -77% $3,770 -76%
Net exports $1,049 33% $8,005 98%

Rough imports $523 -37% $9,507 -8%
Rough exports $161 2% $1,078 -4%
Net imports $362 -46% $8,429 -6%

Net diamond account $687 ($425)

Belgium

Aug. $Mil %Chng. YTD $Mil %Chng.
Polished exports $404 -23% $8,672 -8%
Polished imports $761 -23% $8,846 -2%
Net exports ($356) ($174)

Rough imports $656 -46% $7,986 -18%
Rough exports $430 -34% $8,689 -15%
Net imports $226 -59% ($703)

Net diamond account ($582) $529 -44%

ECONWATCH 	  

Diamond Industry Stock Report

U.S. retail shares broke their streak of strong increases the past three weeks with only Blue Nile (+3%) and Zale (+10%) showing gains. European shares were mainly lower too but Indian shares were mostly higher with Asian Star (+26%), Classic Diamond (+27%) and Vaibhav Gems (+14%) the strongest of the bunch. Mining shares took a dive as Peregrine, Shore Gold, True North and Mwana Africa all recording double-digit drops. Read the extended industry stock report for this past week.
Sept. 27 Sept. 20 Chng.
$1 = Euro 0.774 0.773 0.001
$1 = Rupee 52.90 54.33 -1.4
$1 = Israel Shekel 3.90 3.90 0.00
$1 = Rand 8.22 8.30 -0.08
$1 = Canadian Dollar 0.98 0.98 0.00

Precious Metals
Gold $1,777.60 $1,765.60 $12.00
Platinum $1,647.00 $1,681.00 -$34.00

Stock Indexes Chng.
BSE 18,579.50 18,349.25 230.25 1.3%
Dow Jones 13,485.97 13,596.93 -110.96 -0.8%
FTSE 5,779.42 5,854.64 -75.22 -1.3%
Hang Seng 20,762.29 20,590.92 171.37 0.8%
S&P 500 1,447.16 1,460.26 -13.10 -0.9%
Yahoo! Jewelry 978.97 985.99 -7.02 -0.7%

Rapaport Weekly Market Comment Oct. 12, 2012

Stable jewelry demand during China’s Golden Week but Far East consumers are cautious and selective due to the tough global economy. Polished centers quiet. Rough trading weak with slight premiums on DTC boxes. Large De Beers Oct. sight estimated at $750M with prices stable amid concerns that excess rough supply will further weaken the market. Rapaport Melee Index +3% in 3Q. Belgium’s Sept. polished exports -19% to $1.3B, rough imports +5% to $1.1B. RJC appoints Platinum Guild’s James Courage as new chairman. GJEPC appoints Asian Star’s CEO Vipul Shah as 2013-14 chairman.

RapNet Data: Oct. 11

Diamonds 981,420
Value $5,975,193,671
Carats 1,040,069
Average Discount -27.90%

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RAPAPORT ANNOUNCEMENTS

October
15-24
Mon-Wed

Rapaport Melee Auction

New York & Belgium

View details.

October
17-24
Wed-Wed

Rapaport Single Stone Auction

New York & Israel

View details.

QUOTE OF THE WEEK
There has been a noticeable uptick in prices and trading volume for small melee diamonds following a slow summer season. The recent strengthening of the rupee and expectations for a reasonably good U.S. holiday season improved demand and stabilized prices for a broad range of commercial and promotional-quality diamonds at popular price points.

Ezriel Rapaport | Rapaport Global Trading

Careers@Rapaport 	  

The Rapaport Group is growing rapidly. If you wish to work with the best and brightest, join us. We have great opportunities for trading managers, gemologists, sales assistants, and entry level positions for our offices in New York, Antwerp, Mumbai, Dubai, and Shanghai. View jobs now.

INDUSTRY 	  

DTC Sight Estimate $750M

De Beers sold an estimated $750 million worth of rough diamonds at the Diamond ‎Trading Company (DTC) October sight, while maintaining prices relatively ‎stable. ‎Many sightholders took allocations that were deferred from previous sights, making the ‎October sight the largest De Beers sale so far in 2012. ‎There were relatively low levels of refusal of goods this month. Sightholders noted that most DTC boxes are trading on the secondary market at list or low, ‎single-digit premiums, while some goods are still being discounted. ‎

Rapaport Melee Index +3% in 3Q

Rapaport Auctions reported strong activity for the third quarter of 2012 with sales of 82,260 carats for $14.3 million. Melee prices stabilized, increasing 3% after a decline of 13% in the second quarter. Single stone sales were better than expected with steady demand from Israeli dealers.

RETAIL & WHOLESALE 	  

Diamond Prices Panel Discussion

What factors influence polished diamond prices and what can we expect? Have prices hit bottom? What short- and long-term factors do Indias business leaders see affecting diamond prices, investment demand and the commoditization of gemstones? This panel discussion, which was videotaped during the annual Rapaport International Diamond Conference on August 29 in Mumbai, features Martin Rapaport, the chairman of the Rapaport Group, Russell Mehta, the managing director of Rosy Blue India, Ashish Mehta, a partner with Kantilal Chhotilal and Vishal Doshi, the group executive director of Shrenuj. WATCH NOW.

Bostons Jewelers Exchange Celebrates 90

The Jewelers Exchange Building in Boston opened its doors 90 years ago, beginning a long tradition of selling fine jewelry, and this year it celebrates that milestone. Individual businesses have come together to launch a campaign designed to remind local consumers they can find personal service, expert jewelry craftsmen and watchmakers and order one-of-a-kind pieces. Built in 1922, the historic Jewelers Exchange Building established itself as the soul of Boston’s jewelry scene. The building is nestled in the heart of Downtown Crossing, at 333 Washington Street, a beautiful Art Deco building, hosting 125 jewelers and expert craftsmen.

Gitanjali Partners with Myntra

Gitanjali Group partnered with Myntra.com, an online retailer of fashion and lifestyle products in India, to boost sales. The company’s strength in the branded jewelry space and experience in marketing of jewelry would complement Myntra.com’s reach to millions of online consumers, it explained. Gitanjali expects to achieve sales of up to $28.4 million through this partnership by 2016, with a target of $5.7 million just by 2014. Myntra.com expects that fine jewelry online sales will grow 300% during the festival season.

His & Her Watches Make Fantasy Gift

Neiman Marcus unveiled its 86th annual Christmas Book, which included plenty of jewelry as well as one fantasy gift of his and hers watches. Jewelry brands Ippolita, Roberto Coin, David Yurman, Jose & Maria Barrera and John Hardy feature prominently in this years catalog with price points ranging from less than $500 to more than $60,000. The top jewelry gift in this years Christmas Book is one set of his and hers Poetic Wish watches from Van Cleef & Arpels for $1,090,000. But the lucky buyer will also receive two business-class tickets to Paris and Geneva to tour the Van Cleef & Arpels boutique, atelier, and watchmaking workshops.

Jewelry Brands Maintain Ranking

Economic confidence in the U.S. remains negative but is sharply divided by political affiliation, according to Gallups latest survey. Chopard launches ecommerce; Tiffany, Gucci and Cartier score as top brands as measured by Interbrand, and the Birmingham Assay Office plans its new office space in the U.K. WATCH NOW.

Inflation Subdues Indian Consumers

Indian consumers will be forced to cut spending this festive season in order to meet their monthly expenses as persistently high inflation eats away their disposal income, according to a survey conducted by ASSOCHAM. The survey on "High prices reduce festive spirit” revealed that more than 71% of the respondents from the middle- and lower-income family groups across the country overwhelmingly cited inflation, fewer job opportunities and shrinking salary packages this past year as reasons why their festive season will be lackluster.

More than 87% of the respondents said that monthly grocery bills have jumped to about $116 from $39 in the past 12 months. Most of the respondents plan to cut personal expenses or shop bargains to keep their festive budgets under control. More than 54% of the respondents will only buy items on sale or that have been discounted, while 27% will spend less on sweets and clothing. About 12% of those surveyed said they will buy fewer gifts, while 5% will purchase recycled gifts and the rest, 2%, will buy a group gift.

U.S. Daily Consumer Spending Rises

Gallup reported that U.S. consumers spent an average of $74 per day in September, up from $65 one year ago, but the figure was down from $77 per day in August. The groups daily tracking survey found all income levels reduced their spending in September compared with August. But compared with September 2011, lower-income consumers average daily spending was basically flat at $61, while higher-income households spent $126 per day compared with $108 daily one year ago.

Swiss Watch Exports Climb 16%

Despite a stagnant global economy, the Swiss watch industry is going strong. According to the Federation of the Swiss Watch Industry the first eight months of the year experienced a record 16% year on year increase in exports of Swiss-made watches. More than 23 million watches were sent for export, representing a value of $13.9 billion (CHF 13 billion). Asia accounted for more than half of these exports in terms of value and that region remains the biggest market for Swiss watches. Fine watches were a huge driving force behind this the rise in exports as their sales rose by 21.5%.

GENERAL 	  

Rio Tinto Showcases Argyle Pink Diamonds

Rio Tinto is showcasing its rare Argyle pink diamonds in a unique exhibition at Kensington Palace in the U.K. The exhibition titled “Out of the Vault: Pink Diamonds and Royalty,” features more than $60 million worth of pink diamond jewelry. The inspiration for the exhibition came from Her Majesty the Queen’s Diamond Jubilee. The Queen had a solitaire pink diamond, gifted to her (The Williamson Pink) and set in the center of a flower spray brooch created by Cartier, in the year of her coronation. The 40 rare and valuable items of pink diamond jewelry on display at Kensington Palace are sourced from luxury jewelers and designers from the U.S., Australia, Japan, China, India and Europe, the company said.

GJEPC Appoints Shah

India’s Gem & Jewellery Export Promotion Council (GJEPC) appointed Vipul P. Shah as the ‎new chairman for the next two years. He replaces outgoing chairman ‎Rajiv Jain, while Pankaj Parekh will serve as his vice chairman to replace Sanjay Kothari.‎ Shah is the managing director and chief executive of Asian Star Co. Ltd. GJEPC noted that he brings to the ‎position widespread knowledge of current business trends and insight about the diamond ‎market. ‎ Parekh, a mechanical engineer by training, has worked in the jewelry business since 1988. He ‎was the first person from east India to be elected to the council’s central managing committee in ‎‎1997 and has since held several positions in the central and regional committees of the GJEPC.‎

RJC Appoints Courage

The Responsible Jewellery Council (RJC) appointed James Courage as its new chairman to replace outgoing chairman Matt Runci on January 1. Courage is currently the chief executive of Platinum Guild International with more than 30 years of experience in the jewelry industry having worked at De Beers in the 1980s before joining Platinum Guild in 1996. Courage has worked and lived in Europe, Africa and Asia and is well respected by all his contacts in the jewelry industry and related national and international organizations and regulatory agencies, RJC stated.

MINING 	  

Mountain Province to Raise $47M

Mountain Province Diamonds filed for a rights offering to raise gross proceeds of approximately $47.1 million, which will be used to fund the company’s 49% share of capital costs for the Gahcho Kué diamond mine, a joint venture with De Beers Canada. Mountain Province anticipates that proceeds from this offering will be sufficient to cover the initial capital costs through to the completion of permitting of Gahcho Kué in 2013.

Peregrine Closes Subscription Agreement

Peregrine Diamonds closed its option and subscription agreement with De Beers Canada and as part of the closing, De Beers has completed the $2.5 million private placement with Peregrine priced at 75 cents per unit, for an aggregate of 3,333,333 units. Each unit consists of one common share and one-half share purchase warrant with each whole warrant entitling De Beers to buy a common share in Peregrine for $2 per share for a period of 24 months. De Beers is required to make a $2.5 million payment to BHP Billiton on January 31, 2013 for Peregrines purchase of 51% interest in the Chidliak diamond project. De Beers now has the exclusive right until December 31, 2013 to enter into an earn-in and joint venture agreement with Peregrine on a 50.1% De Beers to 49.9% Peregrine ownership basis, with De Beers being the operator of Chidliak.

Firestone Plans a Tender

Firestone Diamonds reported that the quality and value of diamonds recovered at its ‎Liqhobong plant in Lesotho has improved since the company shut down the plant in July. ‎Firestone Diamonds stated that it has recovered three yellow stones weighing 27 carats, 17 ‎carats and 15 carats and three white stones weighing 12.4 carats, 9.2 carats and 9.1 carats ‎during the third quarter. ‎The company has scheduled a dual tender to be held in mid-October 2012 in Gaborone and ‎Antwerp.‎

Namdeb Averts Workers Strike

Wage negotiations at Namdeb have concluded successfully with an agreement effective from April 1, 2012 and provides for a sliding scale increase in wages for employees in the bargaining unit, as well as increases in a number of allowances. The increases in the 2013 basic wages range between 8.5% and 10% depending on the grade of the employee, while the increase for the 2014 wages is 7.5%.

ECONWATCH 	  

Diamond Industry Stock Report

Industry stocks rode a rollercoaster this week, with most U.S. retail shares down except for JCP (+10%) and Blue Nile (+4%). European shares were mostly higher, Indian shares were mixed with Classic Diamond (-22%) and Su-Raj (-5%) on the skids, while Gitanjali (+6%) and Goenka (+4%) on the upside. Read the extended industry stock report for this past week.
Oct. 11 Oct. 4 Chng.
$1 = Euro 0.773 0.768 0.005
$1 = Rupee 52.69 51.70 1.0
$1 = Israel Shekel 3.85 3.86 -0.01
$1 = Rand 8.67 8.52 0.15
$1 = Canadian Dollar 0.98 0.98 0.00

Precious Metals
Gold $1,767.30 $1,791.10 -$23.80
Platinum $1,674.00 $1,715.00 -$41.00

Stock Indexes Chng.
BSE 18,804.75 19,058.15 -253.40 -1.3%
Dow Jones 13,326.39 13,575.36 -248.97 -1.8%
FTSE 5,829.75 5,827.78 1.97 0.0%
Hang Seng 20,999.05 20,907.95 91.10 0.4%
S&P 500 1,432.84 1,461.40 -28.56 -2.0%
Yahoo! Jewelry 1,010.97 998.69 12.28 1.2%

Rapaport Weekly Market Comment Nov. 9, 2012

U.S. wealthy brace for tax hikes as President Obama wins second term in the White House. Far East retailers hope China’s leadership change will restore consumer confidence and luxury spending. Indian retail jewelry demand improves ahead of next week’s Diwali festival. Rough trading weak as Surat factories close for one month vacation. Berkshire Hathaway 9-month jewelry revenue flat with declining earnings. Pandora 3Q revenue +14% to $308M, profit +11% to $65M. U.S. 3Q online retail sales +15% to $42B. U.S. Sept. polished imports -18% to $1.5B, polished exports -15% to $1.4B. Belgium Oct. polished exports -4% to $1.1B, rough imports +29% to $901M. We wish everyone a happy Diwali.

RapNet Data: Nov. 8

Diamonds 1,004,742
Value $6,126,746,369
Carats 1,060,822
Average Discount -27.33%

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RAPAPORT ANNOUNCEMENTS

November
14-21
Wed-Wed

Rapaport Single Stone Auction

New York & Israel

View details.

Nov-Dec
26-6
Mon-Thu

Rapaport Melee Auction

New York & Hong Kong

View details.

QUOTE OF THE WEEK
We are pleased to complete the acquisition of Ultra stores. We expect Ultra to allow us to broaden our customer reach, build upon our market leadership position in specialty jewelry retail and make Signet one of the leading jewelry players in the growing outlet channel. We look forward to working with our new team members as we continue to drive our competitive strengths for the future.

Michael W. Barnes | Signet

Careers@Rapaport 	  

The Rapaport Group is growing rapidly. If you wish to work with the best and brightest, join us. We have great opportunities for trading managers, gemologists, sales assistants, and entry level positions for our offices in New York, Antwerp, Mumbai, Dubai, and Shanghai. View jobs now.

RETAIL & WHOLESALE 	  

Polished Prices Drop in Oct.

Certified polished diamond prices continued to decline in October as economic and political uncertainties have diminished U.S. Christmas sales expectations. Trading quieted toward the end of the month as a major storm impacted New York. In China, there was stable jewelry demand during Golden Week but growth continues to slow and the holiday did not restore Far East consumer confidence. Diamond buyers suspect the market has not yet bottomed out. The volatile rupee and high gold prices continue to unnerve Indian dealers and consumers.

The RapNet Diamond Index (RAPI) for 1 ct. certified diamonds fell 1.8%. RAPI for 0.3 ct. stones rose 0.2%, while RAPI for 0.5 ct. diamonds decreased 1.1%. RAPI for 3 ct. stones fell 1.4%. Trading remains cautious and budget-conscious diamond buyers continue to focus on commercial quality VS2-SI goods. During the first 10 months of 2012, RAPI for 1 ct. diamonds fell 11.9%. RAPI for 1 ct. stones is down 13.8% from one year ago. Watch additional coverage. Purchase Rapaport Research Report.

Sothebys Loss Grows to $33M

Sothebys reported third-quarter revenue rose 18% year on year to $68.5 million, driven by a $4.9 million, or 50% improvement in private sale commission and a $1.6 million, or 56% increase in finance segment revenue. Despite strong sales, Sothebys reported a net loss of $32.6 million, which was up from a loss of $29.7 million one year ago. For the nine months ending September 30, Sothebys net income declined 58% year on year to $57.7 million and revenue dropped 16% to $433.5 million.

PPR Sales +7%

PPR reported third quarter revenue on a comparable-basis rose 7% year on year to $3.3 billion for the three months that ended on September 30. On a reported basis, removing exchange-rate fluctuations and integrating Brioni, Sowind and Volcom, revenue rose 16%. The retailers luxury division revenue, which includes the brands Gucci, Bottega Veneta, Yves Saint Laurent and others, rose 12% on a comparable-store basis to $2 billion. Timepieces and jewelry experienced strong growth, up 26%, with Boucherons latest High Jewellery collections receiving rave reviews from clients, according to PPR.

Berkshires Jewelry Store Sales Weaken

Berkshire Hathaway reported modest increases in its retail business during the third ‎quarter that ended on September 30, however, the company concluded that revenue from jewelers was flat and earnings were lower than at this point in 2011. Revenue across Berkshire’s retail division, which includes Borsheim’s, Helzberg Diamonds, Ben ‎Bridge Jewelers, four home furnishing businesses and See’s Candies, rose 5% year on year to $712 million during the quarter, with pre-tax earnings up 6% ‎to $33 million.‎ During the first nine months of the year, retail revenue increased 5% to $2.2 billion ‎and pre-tax earnings rose by 18% to $127 million. ‎

Pandoras Profit +11%

Pandora reported third quarter revenue rose 14% year on year to $308 million for the three months that ended on September 30. Profit rose 11% to $65 million and gross margin as a percentage of sales fell to 64.1% from 73.6% one year ago. Pandora recorded a foreign-exchange benefit, which more than off-set the negative impact from the companys ongoing stock re-balancing initiative. Returns of discontinued products were valued at $15 million at the wholesale level, and the company replaced those items with new merchandise valued at $22 million. Sales based on local currency in the quarter increased nearly 10% for the Americas and 11% in Europe. However, revenue plunged 17% in local currency for the Asia Pacific region.

Shree Ganesh Profit Doubles

Shree Ganesh Jewellery House reported that sales rose 54% year on year to $419.1 million in the second fiscal quarter that ended on September 30. Profit nearly doubled to $15.2 million and exports surged 68% to $378.1 million, however, domestic sales declined 23% to $43 million. Total expenditures rose 48% to $395.6 million.

U.S. Online Retail Sales +15%

U.S. online retail sales during the third quarter rose 15% year on year to $41.9 billion, according to comScore Inc. The rate of growth was in line with the previous quarter and confirmed the continued strength of the ecommerce sector, despite economic headwinds. The top-performing online product categories, which grew at least 16% year on year, were digital content and subscriptions, consumer electronics, event tickets, apparel and accessories, and computer software. Additionally, according to comScore’s quarterly online retail survey, 37% of U.S. consumers said they had engaged in “showrooming” behavior, this is a process where shoppers use a smartphone while in a retail store to check prices or to even purchase a product online. The higher number of showrooming shoppers represented an increase of five percentage points in the past two quarters, according to comScore.

Harry Winston Increases Credit Facility

Harry Winston Diamond Corporation secured a $40 million increase in its senior secured revolving credit facility for the luxury brand subsidiary of Harry Winston Inc. The amended facility of $300 million has no scheduled repayments required prior to the maturity date, which remains August 30, 2017. There were no changes to its existing credit agreement covenants, interest rates, borrowing base or maturity date.

Signet Acquires Ultra

Signet Jewelers completed its acquisition of Ultra Stores Inc., the parent company of Ultra Diamonds, from Crystal Financial LLC and its other stockholders for approximately $57 million in cash. Signet has not assumed any debt with this acquisition. Ultra Stores reported sales of approximately $140 million for its most recent fiscal year. Ultra operates 102 stores in outlet centers and through 38 other formats, primarily licensed jewelry departments. Signet expects the deal to add $40 million to $45 million in sales for fourth quarter sales.

Aviv Collections Now On Board

Jewelry designer Joseph Avivs collections of diamonds and jewels will be offered on board the cruise ships operated by Starboard Cruise Services Inc. The cruise line also carries jewelry brands such as Cartier, Bulgari, Chopard and others. Avivs most renowned collections include diamonds, amethyst, tanzanite and the one-of-a-kind Brown Gold™ collection. Starboard operates the Allure and the Oasis of Royal Caribbean and Holland America and Celebrity ships.

Investcorp Buys Georg Jensen

Bahrain-based Investcorp acquired jewelry-maker Georg Jensen of Denmark for $140 million. The acquisition was intended to help the retailer expand across Asia and become a global brand, according to the investors. David Chu, a luxury brand entrepreneur and founder of Nautica, was appointed chief creative director and co-chairman of the board. Guy Leymarie, the former chief executive of De Beers Diamond Jewellers, Cartier International and Dunhill, will also join the board. Ulrik Garde Due, the current chief executive of Georg Jensen, will continue to lead the management team as he has since 2007.

Tiffany Plans New Flagship in Paris

Tiffany & Co. plans to open a European flagship store in Paris in 2014. The approximately 10,000-square-foot, multi-level store will be located at 62 Avenue des Champs Elysées. The stores expected opening on the Champs Elysées will mark a new milestone in Tiffany’s connection with Paris, which began in 1850 when the company established its first store. At the Paris World’s Fair in 1867, Tiffany & Co. became the first U.S. firm to win an award for the excellence of its silverware. In 1999, Tiffany returned to Paris with a store on rue de la Paix. Tiffany & Co. operates jewelry stores and manufactures products through its subsidiary corporations and is celebrating its 175th anniversary this year.

GENERAL 	  

Belgium Awards Paz

Avi Paz was awarded the Ordre de la Couronne, an official title from Belgium, in recognition of his achievements in advancing diamond trade between Israel and Belgium. The Ordre de la Couronne was established in 1879 to award outstanding achievements in the fields of art, literature, science industry and trade. The award was presented to Paz on behalf of Belgiums King Albert II by Benedicte Frankinet, Belgiums ambassador to Israel.

MINING 	  

MAC Lauds Mining Bill

The Mining Association of Canada (MAC) welcomed a federal governments decision to table Bill C-47 and include the Nunavut Planning and Project Assessment Act, which could help spur more responsible mining projects in the territory. The legislation would result in a framework to determine how environmental assessment and permitting processes in Nunavut will proceed as new land use plans for the territory come forward, according to the group. Bill C-47 also includes the Northwest Territories Surface Rights Board Act, which also makes amendments to the Yukon Surface Rights Board Act. These amendments will also aim to increase efficiencies and improve processes to support further economic growth, according to MAC.

Rio Tinto Hosts Special Tender

Rio Tinto reported strong bidding at its recent sale of special-sized stones that were larger than 10.8 carats, which included 94 parcels of diamonds, 26 weighing more than 20 carats. The most expensive diamond, the Diavik Selene of 22 carats, was sold to specialist Israeli diamond company Eshed Diam for an undisclosed sum. Rio Tinto offered rough diamonds from one year’s worth of production out of three operating diamond mines.

Gemfields Auction Nets $27M 

Gemfields raised $26.8 million from its auction of predominantly higher-quality rough emerald and beryl in Singapore between October 29 and November 2. The company offered about 925,000 carats for sale of which 902,000 carats were sold. Thirty-seven companies attended the auction and 35 of these placed bids on the goods. The auction yielded an average of $29.71 per carat for the lots sold. Gemfields noted that there is solid demand for its ethical Zambian emeralds.

Lucara Recovers Blue Diamond 

Lucara Diamond Corp. has recovered a 9.46-carat, type II blue diamond from its ‎Karowe mine in Botswana, marking a rare find of great importance, according to the mining companys president ‎William Lamb. The diamond will be placed for sale during Lucara’s ‎upcoming tender on November 26, where more than 57,000 carats of diamonds will be ‎offered.‎

STATS 	  

U.S.A.

Sept. $Mil. %Chng. YTD $Mil. %Chng.
Polished imports $1,472 -18% $14,975 -11%
Polished exports $1,430 -15% $12,924 -7%
Net imports $42 -64% $2,051 -30%

Rough imports $35 -29% $377 -20%
Rough exports $17 -43% $238 -26%
Net imports $18 0% $139 -9%

Net diamond account $60 -56% $2,190 -29

Belgium

Oct. $Mil. %Chng. YTD $Mil. %Chng.
Polished exports $1,056 -4% $11,060 -9%
Polished imports $1,069 -10% $11,094 -6%
Net exports ($12) ($34)

Rough imports $1,162 29% $10,223 -10%
Rough exports $1,242 67% $11,080 -8%
Net imports ($80) ($857)

Net diamond account $67 $822 -3%

ECONWATCH 	  

Diamond Industry Stock Report

U.S. stocks were mostly lower as investors pulled back on Birks (-6%), JCP (-10%), Tiffany (-8%), Zale (-9%) and other retailers. European, Indian and mining shares were mixed.
Read the extended industry stock report for this past week.
Nov. 8 Nov. 1 Chng.
$1 = Euro 0.785 0.772 0.013
$1 = Rupee 54.44 53.74 0.7
$1 = Israel Shekel 3.90 3.88 0.02
$1 = Rand 8.73 8.65 0.08
$1 = Canadian Dollar 1.00 1.00 0.00

Precious Metals
Gold $1,733.30 $1,714.10 $19.20
Platinum $1,543.00 $1,567.00 -$24.00

Stock Indexes Chng.
BSE 18,846.26 18,561.70 284.56 1.5%
Dow Jones 12,811.32 13,228.46 -417.14 -3.2%
FTSE 5,776.05 5,861.92 -85.87 -1.5%
Hang Seng 21,566.91 21,821.87 -254.96 -1.2%
S&P 500 1,377.51 1,427.16 -49.65 -3.5%
Yahoo! Jewelry 1,073.71 1,070.62 3.09 0.3%

RAPAPORT NEWS SERVICE | Nov. 16, 2012 www.rapaport.com | news@rapaport.com

Retail & Wholesale
Stats
India
EconWatch
General
Mining

Rapaport Weekly Market Comment Nov. 16, 2012

Polished market improves on Thanksgiving weekend expectations. Rough trade quiet after uneventful $480M De Beers sight. Harry Winston to buy Ekati mine for $500M. Chow Tai Fook signs ALROSA rough supply deal. Letšeng 3Q average price -31% to $1,673/ct. Petra Diamonds 1Q production +70% to 654,690 cts. Christie’s Geneva nets $85M (84% by lot) as cushion, 76.02-‎carat, D, IF Archduke Joseph diamond sells for $22M ($280K/ct.). Sotheby’s Geneva sells $81M (89% by lot) with 10.48-carat, FL, fancy blue diamond sold to‎ Graff for $10.9M ($1M/ct.). Gitanjali Gems 2Q sales +32% to $718M, profit +15% to $28M. Hong Kong 3Q polished imports -14% to $4.2B, polished exports -20% to $2.7B.

RapNet Data: Nov. 15

Diamonds 987,782
Value $6,084,433,752
Carats 1,058,387
Average Discount -27.80%

www.rapnet.com

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QUOTE OF THE WEEK
I worry that a lot of things were doing with technology right now are for the good of technology and not for the good of the customer relationship. Organizations use technology because they can, but they may actually be reducing brand engagement because theyre reducing the opportunity to interact with a customer. Again, it doesnt mean everything has to be delivered through a human being. However, every one of those touchpoints is important, whether the customer is online checking an order, checking a balance, following up on a shipment, or making a return. There are opportunities in every customer life cycle, and those touchpoints must be understood and managed in an emotive way, regardless of the digital versus non-digital technology aspects.

Ed O’Boyle | Global Practice Leader, Gallup

Careers@Rapaport 	  

The Rapaport Group is growing rapidly. If you wish to work with the best and brightest, join us. We have great opportunities for trading managers, gemologists, sales assistants, and entry level positions for our offices in New York, Antwerp, Mumbai, Dubai, and Shanghai. View jobs now.

INDUSTRY 	  

Gold Demand -14%

The value of global gold demand fell 14% year on year to $57.61 billion in the third ‎quarter of 2012, according to the Gold Demand Trends report, published by the World ‎Gold Council. Volume declined 11% to 1,084.6 tons, while the average ‎price of gold was $1,652 per ounce during the quarter, down 3%. Global gold jewelry demand declined 5% to $23.84 billion as ‎volume fell 2% to 448.8 tons. Jewelry demand from China, which is the second largest market, fell 8% to $6.94 billion due to a decline in purchases of 18-karat pieces and a notable ‎slowdown in the expansion of retail stores. In the Indian market, however, jewelry demand rose ‎‎4% to $7.23 billion. Global investment ‎demand increased 8% to $4.62 ‎billion.

De Beers Sight Estimate at $480M

De Beers sold an estimated $480 million worth of rough diamonds at its November sight ‎that ended this past week. Sightholders continue to note difficult market conditions and low ‎profit margins as De Beers has curbed supply and kept its prices steady.‎ De Beers reduced prices slightly for the more difficult, slow ‎moving boxes. On average, however, prices have been basically stable ‎since August, when De Beers reduced prices by about 10%. Assortments at the ‎November sight also remained relatively unchanged.‎ De Beers expects shortfalls in supply in the ‎next few months.

Smuggling Charges Surface as Conference Starts

Partnership Africa Canada (PAC) remained critical of Zimbabwe, citing ongoing corruption and money laundering from diamond asset holders in the Marange. PAC also claimed that the diamond industrys efforts to stifle smuggling from Zimbabwe have failed, thus compromised not only the Kimberley Process (KP) but ‎the entire diamond ‎supply chain. The group observed that diamond revenue is funding a parallel government, and benefitting only select insiders of the presidents ruling party (ZANU-PF).

The report came as Zimbabwe hosted an international diamond ‎conference in Victoria Falls this week, which was intended to highlight the benefits of its diamond trade. Numerous industry insiders spoke at the conference as did President Robert Mugabe and South Africas former President Thabo Mbeki. However, some attendees accused KP chair, Gillian Milovanovic, of failing to lift U.S. sanctions on Zimbabwe and asked her to resign. She told attendees that global sanctions were an issue between the federal governments of countries involved and clearly out of her own control. Other reports from the event suggested that PACs accusations were dismissed by Zimbabwes leaders as simply western fodder for sanctions and calls for improved transparency from the Marange were determined to be unnecessary.

RETAIL & WHOLESALE 	  

U.S. Jewelry Store Sales +2%

Watch Now: U.S. jewelry store sales in September rose 1.5% year on year to almost $2.2 billion. However, the consumer price inflation (CPI) for jewelry resumed its climb during the month as well, advancing by 2.1% year on year. So far, for the first three quarters of 2012, U.S. jewelry store sales have risen 3.6% to $19.7 billion as price inflation steadied at 2%. Department store sales in September fell 1.5% to $13.5 billion and advanced estimates for October found that department store sales fell 2.7% to $14 billion.

Richemonts Profit +52%

Richemont reported that sales rose 21% year on year to $6.49 billion in the six months that ended on September 30. On a constant-exchange-‎rate basis, sales increased 12%. Profit rose 52% to $1.37 billion. Sales at Richemont’s jewelry division, which includes Cartier and Van Cleef & Arpels, ‎rose 20% to $3.31 billion and revenue from the watch division increased ‎‎25% to $1.85 billion. Johan Rupert will step down as the chief executive of Richemont on March 31, and be replaced by Bernard Fornas and Richard Lepeu as joint executives.

JCPs Loss at $123M

JCPenneys sales fell 27% year on year to $2.93 billion for the third quarter that ended on October 27. Same-store sales plunged 26% and Internet sales through jcp.com dived 37% to $214 million. The retailer lowered cost of sales 21% to $1.98 billion, and improved income loss by 14% to $123 million compared with $143 million one year ago. Gross margin in the third quarter was 32.5% of sales, compared with 37.4% one year ago and was impacted by lower-than-expected sales in the quarter along with a higher level of clearance merchandise sales. JCPenney incurred $34 million in restructuring and management transition charges during the quarter.

Rajeshs Profit +5% 

Rajesh Exports Ltd. reported that net sales rose 17% year on year to $1.23 billion during its second fiscal quarter that ended on September 30. Profit increased 5% to $20.5 million as expenses jumped 17% to $1.19 billion. The company stated that it has developed a new collection of jewelry for the upcoming Christmas season and it has outstanding orders worth $1.19 billion.

Gitanjalis Profit +15%

Gitanjali Gems reported that net sales rose 32% year on year to $718.3 million ‎in the second fiscal quarter that ended on September 30.‎ Profit grew only 15% to about $28 million as expenses increased 34% to $675.5 million. Diamond revenue rose 5% to $307 million and ‎profit before tax and interest from the diamond segment grew 7% to $10.3 million. Jewelry revenue increased 59% to $448.1 million and profit before tax and interest at the jewelry segment rose 19% to $38.2 ‎million.

Kingolds Profit -10%

Kingold Jewelry reported revenue rose 5% year on year to $220.8 million for the third quarter that ended on September 30. Cost of sales rose almost 6% to $208.2 million and gross margin fell to 5.7% from 6.6% one year ago. Net income fell 10% to $8.4 million or 15 cents per diluted share. Kingold processed 9.5 metric tons of 24-karat gold product, up 44% from one year earlier.

Shrenujs Profit -2% 

Shrenuj & Co. Ltd. reported that group sales rose 7% year on year to $151.5 million during the second fiscal quarter that ended on September 30. Profit, however, declined 2% to $3.5 million as expenses and financing costs rose. Rough diamond prices softened during the quarter, providing a much needed relief to manufacturers. The diamond and jewelry manufacturers diamond segment sales rose 11% year on year to $119.7 million, while sales at its studded jewelry business declined 14% to $33.7 million.

Asian Stars Profit +70%

Asian Star Co. Ltd. reported that group sales rose 65% year on year to $130.3 million during the second fiscal quarter that ended on September 30. Sales were driven by growth across all its business segments. Profit soared 70% to $2.8 million. Sales at the company’s cut and polished diamond segment increased 72% to $118.3 million and jewelry business revenue grew 33% to $18 million.

ShopNBCs Loss at $4M

ShopNBC’s third quarter sales rose 1.8% year on year to $137.6 million as gross margin slipped to 36.9% from 37.2% for the three months that ended on October 27. The companys net loss at $3.7 million was down from $6.3 million one year ago. The average selling price per item fell to $100 from $105. The network shifted airtime away from selling jewelry and watches to give more time selling higher-margin electronics and beauty aids.

Birks & Mayors Loss Nears $6M 

Birks & Mayors reported its sales fell 4% year on year to $124.9 million for the six months that ended on September 29. Cost of sales fell by only 2% to $71 million. The retailer reported a loss of $5.7 million compared with a loss of $5.6 million one year ago. During the first six months, comparable-store sales rose 3% overall with a 2% drop from U.S. stores, but an 8% increase in same-store sales across Canada. Profit margin decreased by 120-basis-pointsto 43.2% of sales.

Christies Jewels Sale Nets $85M

Christies Geneva concluded its fall sale of Magnificent Jewels on Tuesday, achieving a ‎total of $85,049,810. The auction was 84% sold by lot. The top lot sold was the Archduke Joseph Diamond, a cushion-shape, 76.02-‎carat, D, internally flawless Golconda diamond, which went to an anonymous buyer ‎for $21,474,525, or $280,000 per carat.‎ Many of the top lots offered, however, did not sell, while 19 lots still sold for more than $1 million.

Sothebys Jewels Sale Nets $82M 

Sothebys Geneva sale of Magnificent Jewels on Wednesday garnered $81,092,327 and was 88.5% sold by lot. The top lot was a rare, 10.48-carat, flawless, fancy deep blue briolette diamond, which sold to ‎Laurence Graff for $10,860,146 or $1.04 million per carat, well above its high-end ‎presale estimate. The second top lot was a pair of cushion-shaped, 11.46-carat and 11.64-carat, Burmese rubies ‎pendent ear clips, which sold to a private Asian buyer for $3.52 million.

WGC Launches Azva

The World Gold Council (WGC) launched “Azva” wedding jewelry in the southern Indian city of Chennai, inspired by seven vows of the Indian wedding tradition. Azva is expected to appeal to young modern Indian couples between ages of 23 and 30. Crafted in 22-karat gold, the jewelry pieces include necklaces, earrings and bracelets all of which showcase the idea of seven, the council stated.
CRISIL Weighs PC Jeweller IPO

CRISIL assigned a “three on five” grade to the proposed initial public offering (IPO) of PC Jeweller Ltd. (PCJ), indicating that its fundamentals are average relative to the other listed equity securities in India. The ratings agency stated that the grade reflects PCJ’s relatively new market presence of seven years and the ensuing strong reputation in an industry. Strong brand recall, successful branch expansion and stellar increase in gold prices have added shine to PCJ’s revenue, which has grown at a three-year compound annual growth rate (CAGR) of 69%. Compared with other gold jewelry players, PCJ’s revenue mix leans toward higher-margin diamond jewelry, which is rewarding in the wake of increasing acceptance of diamond jewelry in India, CRISIL noted

MINING 	  

Harry Winston to Buy Ekati

Harry Winston Diamond Corporation agreed to purchase all of BHP Billitons diamond assets for a total of $500 million in two separate transactions. The combined deal includes BHPs controlling interest in the Ekati diamond mine in Canada as well as the associated diamond sorting and sales facilities in Yellowknife, Northwest Territories and Antwerp, Belgium. BHP has been shopping around its diamond assets for more than a year. Harry Winston already owns a 40% share of the Diavik mine, which is about 100 kilometers to the southeast of Ekati. The Ekati diamond asset consists of the operating mine and other permitted kimberlite pipes, defined as the core zone along with adjacent pipes that have development and exploration potential, called the buffer zone. Harry Winston agreed to a $400 million cash payment for the core zone interest and $100 million for the buffer zone interest, subject to adjustments in accordance with the terms of the share purchase agreements

Gem Diamonds Rough Sales Fall

Gem Diamonds reported a sharp decline in sales during the third quarter that ended on September 30, as rough prices ‎dropped and liquidity tightened due to economic headwinds descending upon the diamond ‎market. ‎Sales at the company’s high-value Letšeng mine in Lesotho fell 38% year on year ‎to $34.4 million, with the ‎average price of sales down 31% to $1,673 per carat. Gem Diamonds noted that ‎prices have since improved slightly as its October export achieved an average of $1,673 ‎per carat. ‎

Production at Letšeng fell 9% to 27,054 carats during the quarter with severe winter ‎snow conditions impacting its operations. A total of 180 rough diamonds greater than 10.8 ‎carats in size were produced at the mine during the period.‎ Sales from its Ellendale mine in Australia rose 8% to ‎‎$25.6 million during the quarter as a 76% increase in the volume of goods sold ‎compensated for weaker prices. ‎The company sold 4,880 carats of Ellendale’s fancy yellow diamonds to Tiffany & Co. for ‎an average price of $3,902 per carat, down 24% from a year earlier.
Lucara Revenue Nears $13M

Lucara Diamond Corporation reported revenue of $12.7 million in the third quarter of 2012 after ‎launching sales from its Karowe mine in Botswana. The company held two sales during the ‎period, achieving an average price of $225 per carat. Lucara posted a net loss of $3.4 million ‎compared with a net loss of $5.5 million a year earlier.‎ Production at Karowe rose to 91,400 carats during the quarter after the mine ramped up to full ‎throughput at the process plant. ‎
Petra Revenue Triples

Petra Diamonds reported that revenue nearly tripled year on year to $51.1 million in ‎its first fiscal quarter that ended on September 30, as production soared and prices remained relatively stable. The volume of diamonds sold during the quarter rose 190% to 318,700 carats. Profit was not provided in the mining companys trading statement. ‎ Petra’s production increased 70% to 654,690 carats due to the Finsch mine coming ‎online during the year, following the company’s acquisition of the mine from De ‎Beers. ‎
Chow Tai Fook Signs Supply Deal

Hong Kong-based Chow Tai Fook Jewellery Group has signed a two-year contract to ‎procure rough diamonds from ALROSA.‎ The ‎agreement enables the brand to secure more reliable supplies of rough diamonds, ‎particularly for those specifications that are in greatest demand in China. Chow Tai Fook has already ‎been an ALROSA customer on a spot term basis but this agreement marks the mining company’s first long term contract with a diamond firm from China. ‎Chow Tai ‎Fook is also a De Beers sightholder, receiving goods at the De Beers sights in London, ‎Botswana and South Africa, as well as a Rio Tinto Select Diamantaire.‎

ECONWATCH 	  

Diamond Industry Stock Report

Investors pulled the plug on lackluster U.S. retailers this week, slamming Blue Nile (-11%), JCP (-24%) and Walmart (-5%). The mood was better in Europe and India for Damiani (+1%), Asian Star (+7%), Gitanjali (+6%), but mining stocks were mainly lower: Anglo (-10%), Firestone (-25%), Peregrine (-10%), Rockwell (-8%).
Read the extended industry stock report for this past week.
Nov. 15 Nov. 8 Chng.
$1 = Euro 0.782 0.785 -0.003
$1 = Rupee 54.75 54.44 0.3
$1 = Israel Shekel 3.98 3.90 0.08
$1 = Rand 8.93 8.73 0.20
$1 = Canadian Dollar 1.00 1.00 0.00

Precious Metals
Gold $1,714.90 $1,733.30 -$18.40
Platinum $1,568.00 $1,543.00 $25.00

Stock Indexes Chng.
BSE 18,471.37 18,846.26 -374.89 -2.0%
Dow Jones 12,542.38 12,811.32 -268.94 -2.1%
FTSE 5,677.75 5,776.05 -98.30 -1.7%
Hang Seng 21,108.93 21,566.91 -457.98 -2.1%
S&P 500 1,353.32 1,377.51 -24.19 -1.8%
Yahoo! Jewelry 1,077.85 1,073.71 4.14 0.4%

Hi there,
Please Help. Do you know someone in Slovakia or Czech Republic who can cut and polish rough diamonds to reach the brilliance? Is there any company or person qualified and experienced in doing cutting and polishing of rough diamonds? I would be grateful if you help me find one. Thank you in advance

Hi, certified companies.🙄

http://www.diamanty.liberecko.com/

http://www.diamant.cz/index.php/67/brusirna.url

Hmm, to by mně nikdy nenapadlo že něco takového v Čechách je.😲

Turtle , poznáš to príslovie, "že Ty nevieš o tom neznamená,že to neexistuje".😉

Pri tom Patočkovci sú myslím 4 generácia brusičov diamantov ešte za Rakusko - Uhorska a Optima je pekných pár rokov na trhu😉

Pritom farebné kamene brúsi minimálne dalších 30 firiem , brúsenie diamantov vyžaduje uplne inú technológiu.

grofik, děkuju mnohokrát.