Diamonds worth $50 m stolen from Brussels airport

Courtesy of The Hindu

The thieves drove through a fence at Brussels airport as the cargo was being loaded on Monday evening.

Armed men made off with a shipment of diamonds worth around $50 million as it was being loaded onto a plane at the Brussels airport late on Monday.

The diamonds stolen were worth around $50 million, Antwerp World Diamond Centre spokeswoman Caroline De Wolf said. Earlier the broadcaster VRT said, citing unnamed sources, that 10 kilograms of diamonds with a value of 350 million euros ($467 million) were stolen during the heist.

The thieves broke through a fence at the Belgian capital’s main airport with two vehicles at 7:47 pm the airport said in a statement.

“The men in the car rode to a Swiss airplane where they stole valuable goods,” it said. “There was no shooting, and no one got injured. This lasted only a few minutes, and after that, they left the airport domain through the damaged fence.” The thieves targeted a van from the Brink’s security company that was loading the diamonds on a plane bound for Zurich, media reports said.

A burned vehicle was later found on the outskirts of Brussels with police investigating whether it was one of the getaway cars, VRT reported.

De Beers’ rough diamond sales drop 15% in 2012

Courtesy of Diamond World

Forevermark expands its reach by 40%

De Beers noted that in 2012, there was a 16 percent drop in its total sales to US$6.1 billion, while rough diamond sales decreased by 15 percent to US$5.5 billion. The company stated that its rough diamond sales took a slide down mainly owing to the diminished demand, changing product requirements from Sightholders, and reduced availability of some goods. Sales of rough diamonds via De Beers’ auction platform decreased to US$356 million in 2012 which the company attributed to subdued buyer activity.

Also, diamond jewellery demand from US, China and Japan did see an increase, although at a slower pace than in 2011.

Rough diamond prices dropped 12 percent in the years 2012. Also as the polished prices declined especially towards the third quarter of the year and with the increased stock levels at the cutting centre stock and tightening liquidity in the midstream resulted in a rough there was a correction in the rough diamond prices in the third quarter and by the year end, the rough prices stabilized, reflecting a modest improvement in consumer demand during the holiday sales season in most major diamond jewellery markets.

The Forevermark brand of the De Beers group saw an increase in its reach, as stores licenced to retail Forevermark diamonds grew by 40 percent to more than 900 independent jewellers worldwide. It grew in core markets of China, Japan, India and the US, and was launched in two new licensee markets – Canada and the UAE.

The year’s diamond production at De Beers totalled 27.9 million carats (2011: 31.3 million carats). Also, Anglo American plc completed its acquisition of a further 40 percent interest in De Beers, bringing total shareholding to 85 percent. There was free cash flow of $697 million, down 15 percent (on y-o-y basis) and debt was reduced by 61 percent to $722 million, excluding ‎shareholder loans. ‎De Beers is maintaining an outlook of moderate growth in diamond jewellery demand in 2013, with a more positive picture emerging from China and India compared to 2012. It noted that as the diamond manufacturing ‎sector is currently holding high inventory levels, particularly in the high end goods, the challenges in liquidity continue.

Jewelry Store Sales +12%, Best Dec. Performance Since 2007

Courtesy of RAPAPORT

RAPAPORT…

U.S. jewelry store sales in December 2012 surged 11.8 percent year on year to $6.301 billion, which was the highest monthly total since $6.5 billion in December 2007. Taking into account that consumer price inflation (CPI) for jewelry fell 2.9 percent in December, the sales increase reflected even a stronger environment.

Annual jewelry store sales in the U.S. rose 5.7 percent year on year to $30.797 billion and that was the highest value since reaching $30.82 billion in 2007. But the industry has lost many retailers since that time, so surpassing the $30 billion mark for the first time in five years was a great achievement. Furthermore, while the CPI remained at a historically high level in 2012, it did continue to cool as the year progressed to record an average increase of only 1 percent.

In other industry trade news, U.S. jewelry exports in 2012 jumped 12.4 percent to $10.2 billion, while jewelry imports declined 1.9 percent to $12.1 billion. Exports of watches and clocks plunged 14 percent to $396 million, while imports were flat at $4.8 billion. As Rapaport News reported on February 12, the net diamond account in 2012, reflecting the value of polished and rough diamonds that stayed in the country, plunged 21 percent to $3.25 billion, led by a 23 percent drop in net polished imports. Net rough imports, however, were flat at $202 million.

Diamond prices strong at Sotheby’s NY sale

Courtesy of The National Jeweler

New York — Sotheby’s sale of Important Jewels here on Feb. 7 achieved a total of $10.5 million, marking the third consecutive record total for a February sale of jewelry for the auction house.
A platinum ring by Tiffany & Co. with a 6.46-carat, E color round diamond sold for $560,500, or $86,765 per carat, to an anonymous bidder. The piece had a pre-sale high estimate of $150,000.
A platinum and diamond ring with a 0.51-carat round fancy purplish pink diamond, also by Tiffany & Co., sold for $338,500.
A platinum and diamond bow brooch by Van Cleef & Arpels realized $332,500 after a pre-sale high estimate of $100,000.
“We are very pleased to have achieved another top result for our February sales in New York. (The) auction demonstrated the market’s continued appetite for exceptional diamonds,” said Gary Schuler, head of Sotheby’s jewelry department in New York.

ALROSA Recovers 145-Ct. Diamond

Courtesy of RAPAPORT

Author: Dilipp S Nag

RAPAPORT… ALROSA recovered a diamond weighing 145.44 carats, which may be valued at $1 million if it was placed for auction, according to experts from its diamond sorting center.

The world’s largest diamond producer by volume stated that the diamond was recovered in late January by its business unit, Aikhal Mining & Concentration Mill, at its factory No. 14.

The diamond was brought to grass from the depths of the Yubileynaya Diamond Pipe and measures 35.0 x 20.0 x 26.0 mm, ALROSA noted.

The company stated that the stone is a crystal in the shape of an octahedron, its transparent with a yellow hue and contains small graphite-sulfide inclusions in its periphery. A production- induced scuff is seen on one of its peaks and one of its facets has a shallow crack, it added.

ALROSA said that through new technology it had managed to improve diamond recovery and reduce the number of damaged gems.

Company drops attempt to block Ekati sale

Courtesy of National Jeweler

Toronto –The $500 million deal that would transfer ownership of Canada’s Ekati Diamond Mine from BHP Billiton to Harry Winston Diamond Corp. is free to proceed, Harry Winston announced Monday.

According to a news release from Toronto-based Harry Winston, C. Fipke Holdings Ltd. discontinued the lawsuit filed just a few weeks ago against Harry Winston, BHP Billiton Canada Ltd., Stuart Blusson and Archon Minerals that attempted to block the sale of the mine.

Harry Winston and BHP Billiton announced in November that BHP Billiton, which had expressed its desire to exit the diamond business, would be selling its Canadian diamond mining operations as well as its sorting and sales facilities in Yellowknife, Northwest Territories and Antwerp to Harry Winston in a deal worth half a billion dollars.

BHP Billiton was under contract to offer its minority joint venture partners the right of first refusal on its mining operations before selling them to Harry Winston. One of those partners, C. Fipke Holdings Ltd., objected to the sale. (Blusson and Archon Minerals are the other minority joint venture partners.)

Fipke alleged that Harry Winston’s debt financing arrangements for the acquisition interfered with its ability to arrange financing and wanted a court order prohibiting the purchase unless and until BHP Billiton gave it a revised offer.

The dropping of the lawsuit clears the way for the deal to proceed, though it still is subject to satisfaction of closing conditions, including regulatory approvals. A Harry Winston spokesperson told National Jeweler in mid-January that they expect the sale to close in two to three months’ time.

Harry Winston is a company in the midst of major changes as it transitions from being a diamond miner and retailer into solely a mining company.

In addition to its acquisition of BHP Billiton’s diamond business, the company is rumored to be a frontrunner to buy partner Rio Tinto out of the Diavik Diamond Mine. The two companies currently operate Diavik as a joint venture that is 60 percent owned by Rio Tinto, with remaining 40 percent owned by Harry Winston.

Harry Winston also recently announced a deal to sell its retail division to the Swatch Group in a $1 billion deal.

Power of Pearl – Sizzle

power of Pearl

A wonderful documentary by Ahbra Perry and Taylor Higgins

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Drinkable Diamonds

Courtesy of The Israeli Diamond Industry Blog

Image Credit: Israel Diamond Institute

On the same day that I write about a baby carriage and Barbie doll covered in polished diamonds, it’s hard to imagine that only an hour later I would be authoring a post about an even more decadent use for precious gems. But here we are: An Iranian-American reality TV star is now hawking bottled water with actual diamonds inside that are supposed to be gulped down with the rest of the beverage! No kidding! Shahs of Sunset star Asa Soltan says that she first came up with the concoction for her own personal use, and is now ready to share it with the rest of the world, or at least the parts of it that can be convinced of its nutritional – and spiritual – benefits.

Soltan does not content herself with mere microscopic shavings, which are obviously less expensive – she picks out large diamonds to be distilled into drink form, claiming that they “have a different type of energy”. According to Soltan, they “contain genetic molecular information from the beginning of time”. Ms. Soltan, do you know what else contains molecular information from the beginning of time? The first atom in existence, also the most common substance in the universe: Hydrogen. And guess what constitutes two out of every three water molecules? Yes, that’s right, Hydrogen. So why dilute it with mere carbon, only number six on the periodic table, five notches down?

Sotheby’s Jewels Set Record Year

Courtesy of RAPAPORT TRADE WIRE

Jewelry sales for Sotheby’s in 2012 surged to a record $460.5 million. The auction house stated that revenue from its jewelry sales was propelled by the success of private collections, exceptional diamonds and gemstones and historical jewels with noble provenance. Sotheby’s jewelry auctions worldwide achieved an average of 84% sold by lot. Seventy-two lots sold for more than $1 million, with six surpassing the $5 million mark. One highlight for the year came from a record sale of various-owner jewels at Sotheby’s Geneva, where the total achieved $108.4 million in May.

In the Americas, Sotheby’s experienced its highest single-day total for jewelry in December when its New York auction achieved $64.8 million. Sotheby’s annual total of $114.5 million in Hong Kong marked the company’s second-biggest year of jewelry and jadeite sales in Asia.

5th European Gemmological Symposium

It is with pride that herewith, the Netherlands Gemmological Laboratory and the Dutch Gemmological Guild cordially invite gemmologists, jewellers and anyone else interested in gemmology, to the 5th European Gemmological Symposium that coincides with the 14th Dutch Gemmological Guild symposium.
Since the first European Gemmological Symposium in 2007, that was held in Germany, it is now up to the Netherlands to organise this anniversary.

We have put together an attractive programme, highlighting recent advances made in gemmology. The European Gemmological Symposium provides a platform where participants get first-hand information about gemmology and meet gem professionals from all over Europe. The Symposium will be held at Naturalis Biodiversity Center, Leiden. All lectures will be given in English.

Programme:
On Saturday 15 June we will make a special trip from Leiden to Amsterdam.
14.00 departure by coach from Hotel Holiday Inn Leiden
15.00 arrival in Amsterdam, at Gassan Diamonds, located in a historic building (the largest diamond cutting centre of Europe in the 19th century) for a special tour.
16.30 short boat ride with the special ‘Heineken’ boat to the Heineken Experience
17.00 arrival at Heineken Experience
18.00 drinks
19.00 dinner
21.00 departure to Holiday Inn Leiden (times are indicative)
Participation to this afternoon and evening is optional, costs are € 59,00.
Registrations are dealt with in the order in which they come in (limited number of places available).

Hotel arrangement, Leiden
The organisation has made a special, attractive deal with the Holiday Inn Leiden, which is valid till 31 January 2013 (click this link: Holiday_ Inn_reserv_ EN).

Symposium
On Sunday 16 June our invited speakers, all internationally renowned scientists, will present a broad range of topics, covering recent advances in gemmological research:
– Overview of Pearl testing: classic methods and new developments,by Stefanos Karampelas (Switzerland)
– Natural Green Diamonds, by Thomas Hainschwang (Liechtenstein)
– Ordinary and Extraordinary Shapes of Diamond Crystals, by Emmanuel Fritsch (France)
– Amber: Real, Fake and Coloured, by Maggie Campbell Pedersen (United Kingdom)
– Colour and Colour Modification of Non-transparent Quartz, by Ulrich Henn (Germany)
– Rare Earth Elements in mint green Grossular Garnet from Merelani, Tanzania
by Henry Hänni (Switzerland)
– Gemmology and geology of opal deposits – comparison Australian and Ethiopian deposits, by Benjamin Rondeau (France)
– Useful Corundum (ruby, sapphire) data sets from deposit specific samples,by Kenneth Scarratt (Thailand)

Schedule:
10:00 registration and coffee
10:45 welcome and introduction
10:50 start programme
12:30 lunch
13:30 continuation of the programme
15:25 coffee/tea break
17:00 drinks
18:00 end of programme
*titles and order of subjects are provisional; programme may be subject to change

Symposium fee (including coffee, tea, lunch, drinks, a hand-out and free entrance to museum Naturalis):
GGN Members and Friends of the NEL € 85,00
Other participants € 110,00.

And finally:
The Symposium will conclude with an ‘after symposium’ dinner at 18:30 hours.
Participation to this evening is optional, costs, (including wine) € 60,00.
Registrations are dealt with in the order in which they come in (limited number of places available).