HSBC’s diamond banking unit in UAE
by Jo Black
The extensive campaign by Dubai Multi Commodities Centre (DMCC) to promote diamond banking activities in Dubai has begun to produce positive results with HSBC establishing a diamond banking unit to finance the local and regional diamond trade.
Jean Van der Donckt, Director, Diamond Finance, DMCC, said, diamond trade in the UAE has witnessed tremendous growth in [...]
GIA’s 18th Jewelry Career Fair
by Jo Black
The Gemological Institute of America (GIA) has announced the date of its 18th Jewelry Career Fair in New York to be Friday, July 25, 2008 and held at the Jacob Javits Center. The event brings together the jewelry industry’s most distinguished leaders, influential executives and visionaries to successfully bridge the gap between leading companies looking [...]
DMCC signs MoU with GAC
by Jo Black
Dubai Multi Commodities Centre (DMCC), has announced the signing of a memorandum of understanding (MoU) with the Gems & Jewellery Trade Association of China (GAC), a national association of the gems and jewellery trade, approved by the Ministry of Civil Affairs of Peoples Republic of China (PRC), for increased cooperation towards the mutual growth and [...]
FUQI reports 1Q 2008 results
by Jo Black
FUQI International, Inc. has announced financial results for the first quarter ended March 31, 2008.
Revenues for the first quarter of 2008 increased 177% to $77.6 million from $28.0 million in the first quarter of 2007, due to increases in sales volumes and selling prices.
Gross profit in the first quarter of 2008 increased 175% to $8.8 [...]
Panama Diamond joins WFDB
by Jo Black
The Panama Diamond Exchange (PDE) was accepted for membership in the World Federation of Diamond Bourses during the 33rd World Diamond Congress that concluded recently in Shanghai, China.
On the first day of the congress, PDE president Erez Akerman gave the following address to the WFDB General Assembly: “Our diamond exchange was opened in Panama [...]
GIA’s Aurora Diamond Butterfly
by Jo Black
The Gemological Institute of America (GIA) has recently exhibited the famous “Aurora Butterfly of Peace” starting with a special Opening Night celebration and lecture. This piece, formerly on display at the Smithsonian Institute, is a collection of 240 natural, fancy colored diamonds in various sizes, shapes and cuts and weighs a total of 167 carats. [...]
Patrician Diamonds starts drilling
by Jo Black
Patrician Diamonds Inc. (Patrician) has started its diamond drilling program near Doctor Lake in the Sahtu District of the Northwest Territories. The first hole is situated on the northern part of the Northside Anomaly, which has a bedrock magnetic signature of over 100 hectares.
The program of core drilling will further evaluate the Hillside Kimberlite [...]
Vaaldiam reports 1Q results
by Jo Black
Vaaldiam Resources Ltd. has announced its financial and operating results for the first quarter ended March 31, 2008.
2008 First Quarter Highlights
- 20,728 carats sold for gross proceeds of US$3,892,194 or US$188 per carat;
- Cash used in operating activities was $2,950,455;
- Acquired 100% of Great Western Diamonds Corp.;
- Completed integration of Elkedra Diamonds NL and Great [...]
Events at JCK Las Vegas
by Jo Black
From May 30 - June 3, 2008, jewelry retailers from around the world will gather at JCK Las Vegas to meet with colleagues, explore the latest trends and attend some of the year’s most exciting and informative special events.
Wednesday, May 28 and Thursday, May 29 — Pre-Show Events
— The JCK Conference [...]
Lonrho discovers 61 carat diamond
by Jo Black
Australian based diamond exploration and development company Lonrho Mining Limited had discovered an exceptional 61.30 carat stone at its Schmidtsdrift Mine located in the Republic of South Africa.
The Schmidtsdrift mine – owned by Lonrho Mining (80%) and the Schmidtsdrift Communal Property Association (20%) – comprises six contiguous farms along the western bank of the Vaal [...]
Stornoway updates Aviat project
by Jo Black
Stornoway Diamond Corporation and Hunter Exploration Group (Hunter) provides the following update for the 486,000 acre Aviat Project, host to eleven significantly diamondiferous kimberlites and located on the Melville Peninsula in eastern Nunavut,.
Spring 2008 highlights include:
Joint venture has approved a $3.05 million program for 2008
Acquisition of BHP Billiton Diamonds Inc.’s 14.4% interest in the project, [...]
Vaaldiam updates on Candle Lake
by Jo Black
Vaaldiam Resources Ltd. reports the completion of the 2008 delineation drilling program on its 100% owned Candle Lake C29/30 kimberlite pipe. The estimated 70 hectare kimberlite is situated in the northern end of the Fort á la Corne Kimberlite Field in central Saskatchewan. A total of 21 coreholes totaling 4,700.65 metres were completed as part [...]
Diadem completes franklin survey
by Jo Black
Diadem Resources Ltd. has completed a ground magnetic survey on its Franklin Diamond Project on the Parry Peninsula in the Canadian Arctic, located approximately 30 km northwest of the Settlement of Paulatuk in the Inuvialuit Settlement Region of the Northwest Territories.
The survey was designed to more precisely locate and define a number of airborne magnetic [...]
Jovella 2008 in Tel Aviv
by Jo Black
Jovella 2008, the international jewelry exhibition in Tel Aviv which will be held on July 1 – 3, 2008, will feature a seminar on forecasting trends in the jewelry industry, by renowned experts Paola De Luca and Paolo Novembri of the TJF Group. The seminar, which will be open to international jewelry manufacturers, designers and [...]
Macy’s to open three new stores
by Jo Black
Macy’s, Inc. announced plans to open three new Macy’s stores in the Phoenix market within the next two years. In April 2009, a 120,000 square-foot, one-level store will open at SanTan Village in Gilbert, AZ. In fall 2010, a 120,000 square-foot, one-level store is expected to open at Estrella Falls in Goodyear, AZ, and a [...]
Dianor recovers 1286 diamonds
by Jo Black
Dianor Resources Inc. announces that diamond results have been received from the SRC laboratory for a further twenty four (24) rock samples from the Company’s 100% owned PEM property, located 70 kilometres south of Radisson, Quebec.
A single rock sample of conglomerate, weighing 34.75 kilograms, collected from the centre of the PEM property, contained one [...]
Petra to assume control of Alto Cuilo
by Jo Black
Petra Diamonds, the international diamond mining group, is pleased to announce important developments with regards to the Company’s exploration programme in Angola as well as an update on diamond prices achieved and progress on the acquisition of Cullinan in South Africa.
* BHP Billiton is to transfer its interests in the [...]
Patrician Diamonds starts drilling
by Jo Black
Patrician Diamonds Inc. started its diamond drilling program near Doctor Lake in the Sahtu District of the Northwest Territories. The first hole is situated on the northern part of the Northside Anomaly, which has a bedrock magnetic signature of over 100 hectares.
The program of core drilling will further evaluate the Hillside Kimberlite and will test [...]
IDI plans for JCK Las Vegas
by Jo Black
The Israeli Diamond Industry plans a huge presence at the JCK Show – Las Vegas May 30 — June 3, 2008, with 62 Israeli companies participating. The major US trade show for the diamond and jewelry industry, this is one of the most important events for The Israeli Diamond Industry. The United States accounts for [...]
BHP Billiton to acquire Anglo Potash
by Jo Black
BHP Billiton has entered into a definitive agreement with Anglo Potash Limited (Anglo Potash) to acquire all of the issued and outstanding common shares of Anglo Potash at a price of C$8.15 cash per common share.
Anglo Potash’s only asset is its 25% interest in the Canadian potash Joint Venture development project in which BHP Billiton [...]