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Gahcho Kué mine may face delay in production, official says
De Beers’ Gahcho Kué diamond mine in the northern Canada is likely to postpone its first production from 2015 to 2017 due to shipping delays, Philippe Mellier, CEO of De Beers Group, told Reuters in an interview recently.
Tiffany’s net sales up 6% to $4bn
Tiffany & Co’s net sales in the 12 months ended on January 31, 2014 rose 6 percent year on year to $4 billion. Its net sales in the fourth quarter increased 5 percent to $1.3 billion compared with the same quarter last year, the US luxury jeweller announced recently.
GIA named one of world’s most ethical companies
The Gemological Institute of America (GIA) was named a “2014 World’s Most Ethical Company” by The Ethisphere Institute, an independent research centre that promotes best practices in business ethics, corporate social responsibility, anti-corruption and sustainability, GIA said recently.
DMCC, WDM to boost confidence in diamonds
Dubai Multi Commodities Centre (DMCC), Dubai’s global gateway for commodity trade and enterprise, and the World Diamond Mark (WDM), a subsidiary of the World Federation of Diamond Bourses (WFDB), have signed a Memorandum of Understanding (MOU) to increase sustainable consumer appeal and confidence in diamonds and the jewellery industry, the DMCC announced recently.
SRK founder marks 50th year in the industry
DTC Sightholder Shree Ramkrishna Exports Pvt Ltd (SRK) is celebrating the golden jubilee of its founder, Govind Dholakia, this year. In April, Govind hosted a number of events in Surat, which were attended by the SRK family, customers, suppliers, industry colleagues and society leaders.
Indian jewellers sharpen competitive edge
Major diamond jewellery manufacturers are using design, clear product positioning and a customer-centric sales strategy to gain an upper hand in India’s massive retail jewellery market. In separate interviews with JNA, these jewellers shared their sales outlook, design direction and views on changing consumer preferences.
De Beers’ operating profit up 112% in 2013
De Beers generated an underlying operating profit of $1.003 billion in 2013, a 112 percent increase compared with $474 million in 2012, its parent company Anglo American announced recently.
Petra sells 29.6-carat blue diamond for $25.6m
Petra Diamonds Ltd sold a 29.6-carat blue diamond recovered from its Cullinan mine in South Africa for about $25.6 million, the company announced recently.
Diamond manufacturer flourishes in China
KGK Group is ideally positioned to capture opportunities in China’s growing jewellery market. The group, which was founded more than 100 years ago, is inaugurating its new jewellery manufacturing facility in China in the middle of this year, according to Sanjay Kothari, vice chairman of KGK Group.
China’s diamond industry aims for high-value growth
Diamond traders in the Greater China region have become increasingly cautious about market growth this year because of rising rough prices and operational costs, and a lacklustre diamond retail market, industry members said in an interview.
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