Headlines

WDC's System of Warranties Enters Public Review Period

The World Diamond Council (WDC) System of Warranties (SoW) has entered a public review period following the completion of an industry review.

The SoW review and reform process is part of the WDC Strategic Plan and is intended to help industry participants better implement and demonstrate commitment to responsible business conduct when buying or selling rough and polished diamonds, the Council said.

Signet Sales Rise, Reports Big Loss, But Market Happy With Stabilizing Sales

Signet Jewelers reported total sales were $1.5 billion, up 5.5%, in the 13 weeks ended May 5, its fiscal 2019 first quarter.

Total same store sales performance was down 0.1% versus the prior year quarter, however.

'LabDirect Program' Launched by HRD Antwerp And Gem Lab

HRD Antwerp and Gem Lab, a division of Malca-Amit Group, have launched a service whereby Gem Lab becomes an authorized ‘HRD Antwerp LabDirect Program’ participant.

China Slashes Import Tariffs on 18 Jewelry Categories

China is reducing import taxes on jewelry, as part of tariff reductions on a wide range of consumer goods, from July 1.

ABN AMRO Says Lightbox Aimed at Protecting Revenues From Mined Diamond Sector

ABN AMRO Bank, which has long been a major financier of the diamond and jewelry trade, has issued a detailed report on De Beers' decision to launch a laboratory-grown diamond jewelry brand called Lightbox.

Did Angola Lose $464M Due To Diamonds Being Sold To 'Preferential Buyers'?

Angola has lost around $464 million over the past six years due to a government-imposed marketing system that saw the diamonds allegedly sold to politically connected figures close to former President Jose Eduardo dos Santos.

Zimbabwe Parliamentarians Drop Mugabe Diamonds Inquiry Summons

Zimbabwe’s lawmakers have dropped a demand that former president Robert Mugabe appear before them to answer questions about diamond mining operations during his time in office and the fate of huge revenues not received by the government.

ALROSA Auctioning Large Diamonds In Dubai

ALROSA is holding an auction of special size rough diamonds weighing over 10.8 carats in Dubai from May 27 to June 14.