ISRAEL DIAMOND EXCHANGE 2015 PRESIDENTS MEETING SPEECHES
Speeches and photos of Andrey Zharkov, the newly appointed President of ALROSA; Philippe Melllier, CEO of the De Beers Group; and luxury consumer product industry specialist Frank Mueller, of Bridge to Luxury.
ABOUT THE ISRAEL DIAMOND EXCHANGE
With 3,500 members, the Israel Diamond Exchange is the world’s largest diamond exchange in the international diamond industry and trade. Walking along the corridors of the Israel Diamond Exchange complex, moving from on tower to the next, one meets diamond traders from all over the world, many of whom hold membership in the bourse. On a regular day between 15,000 to 20,000 people come through the turnstiles of the world’s most secure diamond exchange complex to conduct their business on the world’s largest trading floor or in one of the 2,000 offices in one of the complex’s four towers.At the Israel Diamond Exchange complex, members are involved in all aspects of the diamond business, such as the import and export of rough and polished diamonds, manufacturing, diamond brokering and so forth. Here they operate in a business environment that allows them to manage their affairs in maximum comfort and security, enjoying access to all the professional and business services they need, such as shipping and insurance companies, banks, a post office, the customs office, technological equipment, synagogues, restaurants, shops, a gym, a doctor’s office and much more.
During its 90 years of existence, Israel’s diamond industry and trade has become one of the leading export branches, accounts for some 20 percent of the country’s annual gross exports. The diamond industry operates under the auspices of the Ministry of Economy by means of the Diamond Controller’s office at the complex. The exchange ‘s institutions comprise of the President, Directorate and Control Committee – elected by direct, secret and democratic elections; a professionally trained staff headed by the Managing Director; directorate committees; a panel of arbitrators and a disciplinary committee.
The Israel Diamond Exchange also represents its members in the various international trade and professional organizations. The exchange is a member of the World Federation of Diamond Bourses (WFDB), the World Diamond Council (WDC) which represents the diamond industry in the “Kimberley Process” Forum and the World Jewelry Confederation (CIBJO).
Since long, Israeli industry leaders have always show a keen interest in helping shape the future of the international diamond business community. The legendary late Moshe Schnitzer, who served for 26 years as president of the Israel Diamond Exchange, served two terms as WFDB president, from 1968 to 1972 and from 1978 to 1982. His son Shmuel, who currently serves as the Israel Diamond Exchange President, served as WFDB president from 2002 to 2006. The late Ithak Forem served as WFDB president from 1998 to 2000, and Avi Paz served as WFDB president from 2008-2012.
The Diamond Exchange takes an active role in the business and professional development of the diamond trade in Israel and abroad, whether as an independent entity or in cooperation with the Israel Diamond Manufacturers’ Association and the Israel Diamond Institute. In this framework, the Diamond Exchange is an active partner in marketing and promoting the industry, finding new sources of supply for rough diamonds, fostering relationships with existing sources and participating in relevant legislative processes in Israel and abroad. Since 2013, the bourse organizes at regular intervals and several times a year it highly successful International Diamond Weeks, in cooperation with sister bourses in New York and Antwerp.
|Mr. Shmuel Schnitzer
Mr. Jacob Korn
Mr. Jacob Kattan
Mr. Arnon Yuval
Mr. Yehezkel (Hezi) Blum
Mr. Ben Zion Shashu
Mr. Jacob Haron Shelly
Mr. Mordechai (Moti) Fluk
Mr. Meir Dalumi
Mr. Yoram Dvash
Mr. Shlomo (Shizo) Shimshowitz
Mr. Shalom Papir
Mr. Luni Grinker
Mr. Yosef Ben Zion
Mr. Amotz Raz
Ms. Emma Yanover
Mr. Shlomo (Muni) Bachar
Vice-President & Chairman, Finance Committee
Treasurer, Member of the Presidium
Chairman, Judicial Committee, Member of the Presidium
Honorary Secretary, Member of the Presidium
Member of the Presidium
Member of the Board
Member of the Board
Member of the Board
Member of the Board
Member of the Board
Rough Diamond Zimbabwe’s Sales
The Herald: Zimbabwe sold 1.4 million carats of rough diamonds worth $75.92 million from local tender sales during the first five months of the year, data received from the Minerals Marketing Corporation of Zimbabwe (MMCZ) shows.
In January, Zimbabwe realized $11.3 million from the sale of 205,863.27 carats of rough diamonds, while the February sale brought in $8.6 million from 142,870.60 carats. In March the government sold 555,889.59 carats for $26.5 million and in April, it tendered 255,346.12 carats for $15.5 million, while the final sale on May 5 raked in $13.8 million from 250,476.86 carats.
Government royalties totaled $15.2 million, while 2.5 percent was assigned to management fees and another 2.5 percent to depletion fees.
Last year, Zimbabwe conducted its first diamond tender in the country at the newly constructed diamond sale facilities at the MMCZ. The tender attracted 410 buyers from 133 companies and was as successful as other tenders the country held in Antwerp, Belgium and in Dubai.
The construction of the diamond tender facility and the sale of the gems locally was influenced by the need to ensure security of the stones following the seizure of $45 million worth of diamonds by a South African company and some white former commercial farmers in Belgium last year.
Those diamonds were, however, returned after court ruled in Zimbabwe’s favor.
Diamond export receipts last year declined to $350 million from about $466 million in 2013, while annual exports dropped to 5.9 million carats from 8.9 million carats.
Zimbabwe hopes to recover from the export decline this year following the discovery of about 105 kimberlites in Marange, with some companies now exploring the deposits as opposed to alluvial mining. The alluvial deposits, which have a higher rate of industrial gems, are fast running out but the discovery of the 105 kimberlites gives new hope.
The Minister of Mines and Mining Development, Walter Chidhakwa, last year told Parliament that the government had directed diamond mining companies to switch to exploiting the kimberlite deposits.
Copyright The Herald. Distributed by AllAfrica Global Media (allAfrica.com).
Zimbabwe sold 1.4 million carats of rough diamonds worth 75.92 million U.S. dollars from local tender sales in the first four months of the year, state owned Herald reported on Thursday, citing statistics from the Minerals Marketing Corporation of Zimbabwe.
Last year Zimbabwe conducted its first ever diamond tender held in the country at the newly constructed diamond sale facilities in Harare.
The diamond tender attracted 410 buyers, which was the highest number of buyers for the local gems.
Diamond export receipts last year declined to 350 million U.S. dollars from about 466 million U.S. dollars in 2013 while annual exports dropped to 5.9 million carats from 8.9 million carats the prior year.
However, Zimbabwe hopes to recover from the decline in exports following the discovery of about 105 kimberlites in Marange diamond fields, east of Harare, with some companies having started the exploration of the kimberlites deposits moving away from alluvial mining.
Zimbabwe holds about 25 percent of the world’s reserves of opencast extractable diamonds, the government says. Diamond output peaked at 12 million carats in 2012, accounting for 8 percent of the global output, making Zimbabwe the world’s sixth largest diamond producer. Enditem
Lucara Diamond Corp.: Exceptional Stone Tender Announced
VANCOUVER, BRITISH COLUMBIA, May 26, 2015 (Marketwired via COMTEX) — Lucara Diamond Corp. (LUC)(botswana:LUC)(nasdaq omx stockholm:LUC) (“Lucara” or the “Company”) is pleased to announce the dates for its first Exceptional Stone Tender of 2015. Viewing will take place in Gaborone from July 6 through to July 16, 2015 with the tender closing at 4.00pm CET.
This Exceptional Stone Tender will be lead by the sale of the 342 carat diamond, recovered from the Karowe Mine in April 2015. It is anticipated that up to 16 diamonds will be sold on tender including up to six diamonds larger than 100 carats.
The sales brochure will be available on the Company’s website during the week of June 18, 2015.
On behalf of the Board,
William Lamb, President and CEO
Lucara is a well positioned diamond producer. The Company has an experienced board and management team with extensive diamond development and operations expertise. The Company’s two assets are the Karowe Mine in Botswana and the Mothae Project in Lesotho. The 100% owned Karowe Mine is in production. The 75% owned Mothae Project has completed its trial mining program.
Information in this release is accurate at the time of distribution but may be superseded or qualified by subsequent news releases.
The information in this release is subject to the disclosure requirements of Lucara Diamond Corp. under the Swedish Securities Market Act and/or the Swedish Financial Instruments Trading Act. This information was publicly communicated on May 26, 2015 at 2:00 p.m. Pacific Time.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain of the statements made and contained herein and elsewhere constitute forward-looking statements as defined in applicable securities laws. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible” and similar expressions, or statements that events, conditions or results “will”, “may”, “could” or “should” occur or achieved.
Forward looking statements are based on the opinions and estimates of management as of the date such statements are made, and they are subject to a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievement expressed or implied by such forward-looking statements. The Company believes that expectations reflected in this forward-looking information are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking information included herein should not be unduly relied upon. In particular, this release may contain forward looking information pertaining to the following: the estimates of the Company’s mineral reserve and resources; estimates of the Company’s production and sales volumes for the Karowe Mine; estimated costs to construct the Karowe Mine, start-up, exploration and development plans and objectives, production costs, exploration and development expenditures and reclamation costs; expectation of diamond price and changes to foreign currency exchange rate; expectations regarding the need to raise capital; possible impacts of disputes or litigation and other risks and uncertainties describe under Risks and Uncertainties disclosed in the Company’s Annual Information Form.
There can be no assurance that such statements will prove to be accurate, as the Company’s results and future events could differ materially from those anticipated in this forward-looking information as a result of those factors discussed in or referred to under the heading “Risk Factors’ in the Company’s most recent Annual Information Form available at http://www.sedar.com, as well as changes in general business and economic conditions, changes in interest and foreign currency rates, the supply and demand for, deliveries of and the level and volatility of prices of rough diamonds, costs of power and diesel, acts of foreign governments and the outcome of legal proceedings, inaccurate geological and recoverability assumptions (including with respect to the size, grade and recoverability of mineral reserves and resources), unanticipated operational difficulties (including failure of plant, equipment or processes to operate in accordance with specifications or expectations, cost escalations, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job actions, adverse weather conditions, and unanticipated events relating to health safety and environmental matters)
Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date the statements were made, and the Company does not assume any obligations to update or revise them to reflect new events or circumstances, except as required by law.
Contacts: Lucara Diamond Corp. Sophia Shane Corporate Development +1 (604) 689-7842 firstname.lastname@example.org Lucara Diamond Corp. Robert Eriksson Investor Relations, Sweden +46 701-112615 email@example.com www.lucaradiamond.com
SOURCE: Lucara Diamond Corp.
(C) 2015 Marketwire L.P. All rights reserved.
The Corlia Roberts Diamond Education College presents fascinating courses on diamond evaluation, grading and polishing. Through the Diamond Education college unique combination of one-on-one coaching and integrated videos, students will learn to grade diamonds, polish diamonds, and evaluate diamond stones more consistently and accurately using the very latest in gemmological microscopes. On completion of the course, successful students will receive a Diamond Education College Completion certificate, which “will undoubtedly open doors within a traditionally insular industry.
Corlia is a qualified Fashion Designer, has +/-18 years experience in the Diamond Industry.
Corlia be contacted on +27.829657740 | +27.813190211 or Message #facebook
Her achievements include:
- GIA (Gemological Institute of America) Diamond Grading course
- (GIA) Diamond Course
- (GIA) Gem Identification Course
- (GIA) Colored stone Grading Course
- (GIA) Colored stone Course
- (GIA) Pearl Course
- (EGL) European Gemological Laboratories – Diamonds and Diamond Grading Course
The mere mention of the word fills the mind with a multitude of concepts and images.
Harry Winston Opens A New Salon In Miami Design District:
MIAMI, May 14, 2015 /PRNewswire/ — The House of Harry Winston, the legendary “King of Diamonds,” and international luxury brand announces the opening of a new retail salon in the Miami Design District, a historic part of the city known for its innovative art, architecture, and design. Located at 166 NE 39th Street, the impressive 7,168 square foot salon will house Harry Winston’s exquisite jewelry and timepiece collections, including the finest diamonds and rarest gemstones available today.
“Miami Design District presents the perfect setting for Harry Winston’s newest salon location,” said Nayla Hayek, CEO of Harry Winston, Inc. “Harry Winston has long celebrated the similarities between fine art and fine jewelry, often exploring various artistic influences as a way to bring its fine jewelry designs to life. With this opening, we look forward to continuing in this rich tradition, as we share the House’s renowned heritage and extraordinary creations with a city that is at the forefront of global creativity and design, and we welcome our new and existing clients from around the world.”
Designed to capture the elegance and intimacy of a private estate, the new two-story salon reflects a contemporary variation on the traditional Winston style, drawing references from the eloquence and architecture of the brand’s iconic Fifth Avenue Flagship. A soft taupe and grey color palette complements the custom designed black lacquer and antique bronze furniture, with bespoke chandeliers, hand-beaded silk walls and antique accents. Dedicated areas for Harry Winston’s high jewelry, bridal, timepiece and fine jewelry collections, ensure clients receive the discreet and highly personalized shopping experience that the House is known for, while private selling rooms provide a luxurious space for the ultimate in exclusivity.
Founded in New York City, in 1932, The House of Harry Winston continues to set the standard for the ultimate in fine jewelry and high-end watch making. From the acquisition of some of the world’s most famous gemstones, including the Jonker, Hope and Winston Legacy Diamonds, to adorning Hollywood’s leading ladies on the red carpet, for over eight decades, Harry Winston has been a symbol of the best there is. Headquartered in New York, the company operates retail salons worldwide, in locations including: New York, Beverly Hills, London, Paris, Genève, Tokyo, Hong Kong and Shanghai.
SOURCE The House of Harry Winston
Fancy Color Diamond Index Holds Firm:
May 13, 2015 5:02 AM By Fancy Color Research Foundation
Press Release: Analysis of the latest data published by the Fancy Color Research Foundation (FCRF) in its third Fancy Color Index reveals a stark contrast between the performance of colored diamonds and their colorless counterparts. While white diamond categories suffered price declines of 4 percent to 6 percent, according to the Rapaport Group’s RAPI™, the value of fancy colored diamonds continued to hold firm, with key types increasing in value, during the period between January and April 2015.
Commentary from those who contributed data to the quarterly analysis suggests that a key factor in their resilience during this period is the significant shortage of product across most color and size categories.
This has resulted in those working with fancy color diamonds continuing to enjoy the high margins that these assets deliver. It is expected that the analysis and insight provided by the foundation will continue to enable members to make informed decisions ahead of undertaking significant fancy color diamond transactions.
Product segments that showed price increases of more than 2 percent in the period January to April, included 1-carat fancy and intense blues, 3-carat intense blue and 1.50-carat fancy yellows. A complete data analysis by each category is available to FCRF members at FCResearch.org (membership is open to anyone in the jewelry and related industries and payment can be carried out online).
Ephraim Zion, a member of the advisory board of the Fancy Color Research Foundation, commented: “It is encouraging for our members to see that, once again, fancy color diamonds have exhibited a solid growth in value, with fancy and intense blues performing particularly well.
By collating and analyzing sales data from major diamond trading centers we are able to provide far greater levels of understanding as to the performance of fancy color diamonds. This gives our members increased certainty when transacting fancy color diamonds.”
Eden Rachminov, chairman of the board of advisors for the FCRF, said, “Our members are telling us that our analysis is exceptionally useful as they capitalize on the wealth of information and educational tools at their disposal. We are seeing that increased levels of understanding promoting greater adoption of fancy color diamonds as a product category.”
About the FCRF:
The FCRF is an independent, non-profit organization formed to promote fair-trade, ethics and transparency in the fancy color diamond retail, wholesale and mining industry. The FCRF activity includes the development of innovative research and digital tools that will support the fancy color diamond retail selling process for consumers, retailers and collectors; the promotion of fair trade in fancy color diamonds throughout the value chain underpinned by reliable data analysis to create a uniform knowledge base across all industry layers and the authoring of publications to clarify the complex methodology for evaluating fancy color diamonds.
Membership of the FCRF is open to retailers, auction houses, wholesale traders/manufacturers, financial institutions, insurance appraisers and mining companies. Organizations interested in membership of The FCRF should visit fcresearch.org to register details.
About the Fancy Color Diamond Index:
The Index is a first-of-its-kind tracker of changes in the market prices of yellow, pink and blue fancy color diamonds, the three most commonly traded fancy color diamond categories (a market price is a wholesale transaction taking place in one or more of the global diamond trading centers).
The Index is a composite representation of changes in price points gathered since 2005, based on a statistically significant sample size. It offers insight into variations in the appreciation of diamonds of different colors and sizes.
The Fancy Color Research Foundation oversees proprietary prevalence and pricing data aggregation and production of the index. A third party New York-based audit firm reviews the development of The Index from the various data points gathered.
The Index can be used to understand and track the historical price behavior of different rare fancy color diamonds.
Sotheby’s Geneva Sets Highest Total for a Jewelry Auction at $161M
May 13, 2015 9:27 AM By Francesco Rosa
RAPAPORT... Jewelry history was made at Sotheby’s magnificent jewels auction in Geneva on May 11, which achieved the highest total to date for any jewelry auction at $160,914,902. The sale was 94 percent sold by lot and broke a total of six new world auction records.
The top lot of the evening was The Sunrise Ruby (pictured), a cushion-shaped Burmese ruby of 25.59 carats, which sold to an anonymous buyer for $30,335,698, or $1,185,451 per carat. It set three records: a world auction record for any ruby, a world auction record per carat for a ruby and a world auction record for a jewel by Cartier.
The second top lot of the sale was The Historic Pink Diamond, an 8.72-carat, VS2, cushion brilliant-cut, fancy vivid pink type IIa diamond. It sold to a bidder in the room for $15,903,422, or $1,823,787 per carat.
Intense bidding from the international trade and private buyers resulted in record prices for exceptional colored gemstones, natural pearls, signed and period jewels. Four jewels by Cartier achieved the top 10 list of highest selling lots, totaling an outstanding $47,166,909.
White and colored diamonds also registered stable prices, with four diamond-only lots making it into the top 10 list. Continuing the strong demand for natural pearls, an extremely rare natural double-strand pearl and diamond necklace sold to international trade for $7,003,519, registering a new world auction record for a two-row natural pearl necklace.
WFDB President Expresses Concern Over Discovery of Stones With Undisclosed Diamond Treatment
Antwerp, Belgium – May 13, 2015: World Federation of Diamond Bourses (WFDB) President Ernie Blom has expressed his concern over a GIA statement that around 500 colorless to near-colorless diamonds were submitted, primarily to its grading laboratory in Ramat Gan, Israel, which were potentially subjected to an undisclosed temporary treatment.
“I am extremely concerned by this development,” Blom said in a statement. “This is clearly unlawful behavior. We will have no tolerance whatsoever for this type of alleged illegal activity.
“It is crucial that this kind of unlawful action is stamped out. We are pleased that the GIA publicized this development so that diamantaires can be on their guard, and that the IDE is moving firmly in order to deal with this issue with the utmost seriousness. Our industry must come together to counter such activity, both for the good of our members and for the end-consumer who is always uppermost in our minds,” Blom added.
The GIA believes that the treatment temporarily hides the color of the diamonds submitted, giving a color grade that can be up to three grades higher than its actual grade. The GIA said it ended client agreements with the companies that submitted the diamonds and notified the relevant trade bodies.
The report numbers of the potentially treated stones are posted on GIA’s website, and anyone who has purchased or has access to any of these stones is requested to submit them to any GIA lab for a no-cost, accelerated review.
Markets don’t lie but they do correct. Over the long term, free markets are perfect because they equate supply and demand by establishing democratic prices that honestly reflect the relative value of all goods and services in the market. In the short term markets are often imperfect, as they reflect manipulation and abuse by interested parties seeking to gain short-term profits at the expense of long-term sustainability. Trading short-term profits for long-term losses is a dangerous game. Going for the easy fast buck in a carpe diem “live for the day” world creates market imbalances. The inevitable correction of these imbalances often takes place at the worst of times, when market forces are negative. Such was the case in the 2008 housing crisis when banks over-extended their credit, resulting in unsustainable housing price increases. Obviously, taking short-term gains at the expense of long-term loss is not wise. Whether it’s going to a party instead of studying for a test, eating too much at a fancy dinner and eventually suffering a heart attack or borrowing too much money and then being forced into bankruptcy, the long-term price you pay is not worth the short-term benefit. Many firms cannot resist the temptation of immediate economic gratification. Whether it’s taking too much money from the banks, bidding up rough prices to unsustainable levels, increasing revenue at the expense of profits, bribing government officials, selling overgraded diamonds, mixing synthetics into parcels of natural diamonds or simply not paying bills, it’s hard to resist an easy fast buck. The situation has become worse as structural defects in the dynamics of the diamond markets have destroyed the ability of firms to make normal profits. Competition from firms engaging in unsustainable practices has also forced some good firms to make bad decisions just to stay in business. For example, if your competitor takes on huge debt so that he can overpay for rough diamonds, what should you do? Must you close your factory or should you also pay too high rough prices in order to stay in business? Unfortunately, global diamond markets have been predisposed to making bad short-term/long-term trade-offs. In a nondifferentiated competitive market, legitimate firms have been forced to compete with firms that take shortcuts enabling them to offer lower prices. The net result is that cycles of negative behavior have developed, exposing the trade to significant economic and reputational risk. We have now reached the stage where leading diamond manufacturers and dealers have come to the realization that their current business models are unsustainable. In the words of Maxim Shkadov, president of the International Diamond Manufacturers Association (IDMA): “Our sector is going through a severe crisis and suffers significant problems. … There is no profitable income to be made in diamond manufacturing.…The seriousness of the ‘disconnect’ between the producers (miners) and the manufacturers can no longer be ignored.” (See “President’s Letter,” page 58.) Shkadov is talking about the unsustainable disparity between high rough and low polished diamond prices. He is protesting the disregard of mining companies to the plight of diamond manufacturers who can no longer make profits. From the miner’s perspective, there is no reason not to accept the high prices that diamond manufacturers offer for the rough. What the manufacturers do with the rough and whether or not they make profit is of no concern to the miners. Underlying all this is the role of the Indian government and bankers who have enabled the over-financing of the diamond business, resulting in irrationally high rough prices that ensure manufacturing losses. More…….