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May 16, 2012 - Diamonds
According to a report from the Kimberly Process Certification Scheme (KPCS), global diamond output has declined by at least 20 percent as major mines struggle to find new reserves to replace depleting assets.
The production of rough diamonds worldwide has depleted by about 20 percent at 120 million carats last year compared to 150 million carats in 2007, New Ziana quoted the report as saying....
May 16, 2012 - International
The World Diamond Council (WDC) has paid a special tribute to De Beers Chairman Nicky Oppenheimer at the Gala Dinner which concluded the organization's 8th Annual Meeting in Vicenza, Italy.
Presenting Mr. Oppenheimer with a silver plate to mark the occasion, WDC President Eli Izhakoff read the inscription which recognized the De Beers chairman for his many years of dedicated support for the...
May 15, 2012 - Jewellery
According to Johnson Matthey's Platinum 2012, the palladium market was in a 39.0 tonne surplus in 2011. Although autocatalyst and industrial demand for palladium rose, the sale of metal from Russian government-controlled inventories, together with a large amount of metal released from ETFs, meant that the palladium market moved into oversupply last year.
Supplies of palladium remained almost...
May 15, 2012 - Platinum
Gross platinum demand rose by 2% in 2011 to 251.8 tonnes with growth in every sector apart from investment, according to Johnson Matthey in "Platinum 2012", released yesterday. Supplies increased to a four-year high of 201.6 tonnes, supplemented by releases of in-process and refined inventories from South Africa in the second half, while recycling increased to 63.6 tonnes. As a result...
May 15, 2012 - Jewellery
The Government of India, at regular intervals, through Foreign Trade Policy and Union Budget, has announced various measures to develop gold and silver jewellery industry in the country. Some of the important measures include:
(i) Introduction of duty drawback rates @ Rs 30.90/gm and Rs 1,545/kg for gold and silver jewellery exports respectively.
(ii) Formation of Gem & Jewellery Skill...
May 15, 2012 - Jewellery
Katrina Kaif, brand ambassador of Nakshatra – India's iconic diamond jewellery brand, has unveiled the brand's new logo and its latest brand campaign – Glow Divine. Also present on this occasion were Mr Mehul Choski, CMD, Gitanjali Group, Ms Shardah Uniyal, VP - Marketing, and Mr Sushil Sharma, VP, Internatinoal Brands, Gitanjali Group.
Mehul Choksi - CMD, Gitanjali Group,...
May 15, 2012 - Diamonds
Members of the World Diamond Council, meeting in Plenary Session at the WDC's 8th Annual Meeting, reaffirmed the diamond and jewelry industry's commitment to eliminating the trade in conflict diamonds, and agreed that the Kimberley Process Certification Scheme should evolve to reflect changes that have taken place since the KPCS was first launched in 2003.
In particular, the WDC expressed its...
May 15, 2012 - Jewellery
Mumbai is a significant gem and jewellery centre with tremendous employment potential. More than 600 attendees and 55 recruiters took advantage of that potential at the fourth edition of the GIA (Gemological Institute of America) Jewellery Career Fair held in Mumbai on May 10.
The event was held in collaboration with the Gem & Jewellery Promotion Council (GJEPC) at the Bharat Diamond Bourse...
May 14, 2012 - Diamonds
Rio Tinto today announced the appointment of Mr Tarun Malkani to lead its Bunder diamonds project in Madhya Pradesh.
Mr Malkani will take up the position of Chief Operating Officer, India for Rio Tinto's diamonds business on July 1. Mr Malkani, an engineer by training, will be joining the diamonds business as the Bunder project moves into the advanced stages of its pre-feasibility study....
May 14, 2012 - Gold
The Indian government's decision to roll back excise duty on both branded and unbranded jewellery items will encourage gold imports to pick up soon. Following the decision taken by the government in March to double the gold import duty to 4 percent, the imports had slumped in the month of April which had an overall effect in the total gold imported by India this year.
According to a Reuter's...
