Headlines

London Diamond Bourse appoints Ethical Issues Advisor

The London Diamond Bourse (LDB) is pleased to announce the appointment of Katherine Chappell as its Special Advisor for Ethical Issues to its Council of Management.

Chappell is a longstanding member of London Diamond Bourse and a specialist in fair trade principles.  Victoria McKay, COO commented, “Kathy’s knowledge of the gemstone and diamond industry is second to none with particular emphasis on ethical sourcing and fair trade principles. For LDB, this means we can enhance our conversations around responsible sourcing and engage in a more relevant dialogue at the same time as strengthening the Bourse’s understanding of specialist issues.”

Diamonds, The Kimberley Process And Bullshit From The Stage

GemKonnect Editor Vinod Kuriyan explains why it was dangerous for Martin Rapaport to call the Kimberley Process "bullshit" at the Mines to Market conference in Mumbai last week.

Dominion Diamond Corp: Team to Evaluate Strategic Alternatives

The board of directors of Dominion Diamond Corp has formed a Special Committee to explore, review, and evaluate a range of potential strategic alternatives focused on maximizing shareholder value.

The Special Committee, working together with the company's management team and advisors, will consider alternatives which could include the sale of the company or other strategic transactions.

New Independent Director Sarine Technologies: Varda Shine

Sarine Technologies Ltd says that former De Beers' Diamond Trading Company (DTC) CEO Varda Shine has agreed to join its board of directors as an independent director.

The appointment is subject to approval at Sarine's Annual General Meeting to be held in Singapore on April 25.

Recently Installed Alrosa President ‘Committed to Continuing Firm’s Strategy’

The new president of diamond miner Alrosa, Sergey Ivanov, said he is committed to the company’s strategy in the first comments made since he assumed the top job in early March.

"I would like to assure you that I am committed to this strategy and intend to make every effort to deliver it," Ivanov told a conference call with analysts to discuss Alrosa's 2016 financial results reported by Reuters.

'Pink Star' to Highlight at Sotheby's Hong Kong Magnificent Jewels Auction

The 'Pink Star', a 59.60-carat diamond which it is estimated will sell for around $60 million, will be the standout item at Sotheby's Hong Kong Magnificent Jewels and Jadeite sale next month.

The diamond will go on display from March 29 to April 3 at the Hong Kong Convention and Exhibition Centre. The auction will be on April 4.

Jewelry Chain Tiffany & Co Records Sales Decline Overall in 2016, Q4 Sees Rise

Tiffany & Co. reported that worldwide net sales declined 3 percent in the year and rose 1 percent in the fourth quarter in its financial results for the full year and the three months ended January 31, 2017.

The results were in line with its previously issued guidance for the 2016 fiscal year.

 
World Federation of Diamond Bourses continues to support the Diamond Development Initiative
 
The Diamond Development Initiative (DDI) has announced a donation from the World Federation of Diamond Bourses (WFDB) in support artisanal diamond miners and responsible production.