CEO William Lamb said divesting the diamond sales platform allows the company to focus on the underground expansion of Karowe.
Sourcing
Commercial production has begun underground at the Canadian diamond mine’s A21 pipe.
Industry players have found ways to cope with market conditions while working to reshape themselves in the face of emerging realities.
Latest in Sourcing
The sales event, in its second year, features a selection of rare diamonds from the miner’s Argyle and Diavik diamond mines.
A strong economy, a growing middle class with an affinity for brands, and rapid expansion of organized retail have fueled the market’s rise.
Its commercial-quality sapphire, corundum, and ruby sale yielded “healthy” results, while its emerald auction was weaker than expected.
From protecting customer data to safeguarding inventory records, it's crucial to learn how to tackle cybersecurity challenges.
The company is poised to make a big push for natural diamonds this holiday season.
The giant gem originated from Karowe, the same mine that yielded a 2,492-carat rough diamond in late August.
He, and other newly elected board members, will begin their terms in February.
This fall, sharpen your skills in jewelry grading, quality control and diamond assessment.
The miner’s new peridot cut will debut at the upcoming Hong Kong jewelry trade show.
“Broken Bangle: The Blunder-Besmirched History of Jade Nomenclature” is an in-depth look at the evolution of jade terminology.
It is partnering with retailer Tanishq on educating salespeople, shaping the in-store experience, and a “360-degree” marketing campaign.
The giant gem came from Karowe, the same mine that yielded the 1,109-carat Lesedi La Rona and the 1,758-carat Sewelô diamond.
The gemstone company is moving to the Ross Metal Exchange in New York City’s Diamond District.
Unable to pay its debts, the ruby and sapphire miner is looking to restructure and become a “competitive and attractive” company.
The parcel, totaling 447 carats, garnered $12.4 million at the diamond miner’s recent tender.
Lab-grown diamond sales in the United States and ongoing economic challenges in China are impacting natural diamond demand.
The company also reported the $150 million sale of an iron ore royalty right, part of its ongoing effort to divest “non-core” assets.
Rentmeesters has served as interim CEO since April following former CEO Ari Epstein’s resignation.
The miner said an 835-carat emerald saw “stiff competition” in its July sale.
The company’s sole remaining diamond operation, Diavik, produced 702,000 carats of diamonds, down from 970,000 a year ago.
Sourced from Tanzania, the stones feature a unique hematite inclusion.
The U.K.-based online supplier will offer calibrated stones under 1 carat.
Ravi Bhansali has been elected vice president.
The Connecticut museum will unveil the newly renovated galleries on July 9.
Lauren Freeman, a Ph.D. with more than 25 years of experience in mining, has joined the company.
As a member of UNGC, the diamond supplier pledges to implement sustainable and socially responsible policies.
He’s leaving the colored gemstone miner to pursue other opportunities, the company said Friday.
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