Headlines

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.

Dominion Diamond Corp Acquired by Washington Corps for $1.2Bn

(IDEX Online) – After months of rumors, Dominion Diamond Corporation announced that The Washington Companies, a group of privately held North American mining, industrial and transportation businesses founded by industrialist and entrepreneur Dennis R. Washington, will acquire all of Dominion's outstanding common shares for $14.25 per share in cash or a total equity value of approximately $1.2 billion.

The transaction represents a 44 percent premium to Dominion's unaffected share price of $9.92 on March 17. The transaction marks the result of Dominion's review of strategic alternatives as previously announced on March 27.

Diamond Manufacturer Scio Receives Financial Injection

Lab-grown diamond manufacturer, Scio Diamond Technology Corp, has signed a financial agreement which the firm says will give it the ability to expand its manufacturing base.

The deal to restructure its debt was signed with Heritage Gemstone Investors (HGI).

The agreement includes an extended maturity date, relief on interest payments and access to additional funding.

DDC Australia President Baron Addresses LA Bourse Members

Diamond Dealers Club of Australia President Rami Baron was a guest speaker at the Diamond Club West Coast (DCWC) where he spoke to an audience of young diamantaires and other bourse members.

Baron spoke about the need to share information and changes in the industry as well as the goal of bringing about the involvement of the younger generation in the diamond business. Baron is behind the Young Diamantaires initiative of the World Federation of Diamond Bourses which aims to encourage greater industry participation among the younger generation.