Headlines

WFDB's Young Diamantaires Holding Annual Meeting at Hong Kong Show

(IDEX Online) – The World Federation of Diamond Bourses' (WFDB) Young Diamantaires group is to hold its next meeting at the September Hong Kong Jewellery and Gem Fair. The centerpiece of the annual meeting will be a special session on the advantages for business of blockchain technology.

Leanne Kemp, the founder of Australian start-up Everledger, which uses blockchain, smart contracts and machine vision to prevent risk and fraud for banks, insurers and open marketplaces and to ensure ethical trading, will make a presentation at the September 15 meeting before Leanne and Rami hold a question and answer session.

World Diamond Mark Launches Chinese-Language Website

A mirror site in Chinese which is accessible from the World Diamond Mark Foundation (WDM) home page has been launched.

The WDM said the new site is the result of close cooperation with the Shanghai Diamond Exchange (SDE). It was translated and adapted with the direct involvement, encouragement and cooperation of SDE President Lin (Frank) Qiang and SDE Vice President Caroline Yuan.

Diamond Mogul Beny Steinmetz Arrested By Israel Police

Israeli diamond and mining tycoon Beny Steinmetz and four others were arrested by Israel's Police National Fraud Unit in a money-laundering investigation involving real estate deals abroad, reportedly in Romania.

The men were questioned under caution, meaning they are considered suspects in the case. A court agreed to a police request to extend their custody for further questioning. They were released to house arrest after several days in custody.

DDI Mobile Schooling Program Helps 110 Children in DRC

The Diamond Development Initiative's (DDI) mobile schooling program has helped 110 children from remote mining communities in the Democratic Republic of Congo (DRC) complete their primary education program and pass state exams.

The program aims to provide remedial education to children in diamond mining communities to prevent them from working in the mines and give them the chance to reintegrate into the formal schooling system, the DDI said in a statement. The two-year curriculum provides children with the opportunity to acquire essential literacy and numeracy skills and grade-level general knowledge with the goal of passing the national exam.

Millennial Women Looking For Authenticity, Says DPA Survey

A study by the Diamond Producers Association (DPA) finds that Millennial women are looking for ‘the real deal,’ with nearly 9 in 10 (89 percent) looking for authenticity when buying luxury items such as diamonds.

"Despite living in a world of fast-fashion and unlimited choices, they crave the opposite," the DPA said in a statement. "This sentiment is apparent in the 'buy less, buy better' mentality prevalent today."

Chow Tai Fook launches '4Ts' concept

Chow Tai Fook has launched a new diamond jewelry collection called "Touch" featuring a '4Ts' concept.

The 4Ts stand for Traceable, Transparent, Truthful and Thoughtful, with each Chow Tai Fook T Mark diamond inscribed using the firm's own patented technology.

Signet Jewelers Appoints Virginia Drosos as CEO

Virginia "Gina" C. Drosos has been appointed as the new Chief Executive Officer of Signet Jewelers Limited, effective August 1.

Drosos replaces Mark Light, who has served as CEO of Signet since 2014. He is retiring after more than 35 years with the company due to health reasons.

Drosos has been an independent director of the board since 2012.

HRD Detects Topaz Polished Topaz Submitted as Diamonds

HRD Antwerp reported that two large, near-colorless rough stones weighing 50.08 and 38.18 carats were handed in to the HRD's research department to determine their quality.

Topaz is a colorless diamond simulant that can be easily misidentified.

"This material, which is a silicate mineral of aluminum and fluorine with the chemical formula Al2SiO4(F,OH)2, has a similar density to diamond; therefore, the stones could not be identified as diamond imitations through hydrostatic measurement or the use of a 3D-scanner (volume calculation and weight) at the trader’s office.