diamond markets were dominated by a seasonal lull and diamond prices fell slightly, Rapaport said in a press release. The jewelry fair JCK Las Vegas, which was held at the beginning of the month, demonstrated a steady demand for commercial grade diamonds in the US, high demand for inexpensive polished "piqué" diamonds and a rather weak demand for large and high-quality stones. The June Fair in Hong Kong disappointed diamond dealers, who concluded that cautious sentiment prevailed in the Far Eastern markets.
The price index for diamonds RapNet Diamond Index (RAPI ™) for stones weighing 1 carat in June fell by 0.5%. Prices for diamonds weighing 0.3 carats and 0.5 carats rose by 0.5% and 0.3% respectively. The price index for diamonds weighing 3 carats for the reporting month fell by 0.7%.
During the second quarter, prices for diamonds were down, the Rapaport monthly report, "2Q Slowdown", said.
Retail jewelry companies have replenished their stocks after the Christmas season in the first quarter, and since then, polished purchases have been carried out to fulfill the orders received. Delays in the evaluation of diamonds by the Gemological Institute of America (GIA) led to a reduction in the supply of certified stones in the laboratory and supported prices for them in a weak market.
The margins of the profits of diamond producers remained small. Prices for rough diamonds in June were stable, and activity was observed in the secondary market. Despite the liquidity problems, there is a strong demand for rough diamonds, while mining companies maintain production volumes.
It is expected that in July and August the market will be dominated by a lull, as dealers in Antwerp, New York and Ramat Gan leave for the summer holidays. The expectations for the July International Indian Jewelery Fair (IIJS) have increased, which is due to the revival of the local Indian market after the election of a new government.

Indian exports of gold jewelry from the domestic tariff zone in fiscal year 2013-14 jumped 141.58% year-on-year to $ 5.68 billion. Meanwhile, exports of these goods from special economic zones (EPZs) fell sharply by 66, 28% to $ 5.36 billion compared to $ 15.9 billion in the 2012-13 fiscal year. This trend is already observed in the current fiscal year. In April-May 2014, exports of gold jewelry from the domestic tariff zone increased by 13.61% year-on-year to $ 728.69 million, while exports from the SEZ fell by 30.19% to $ 542.72 million.
The sharp increase in the export of gold jewelry outside the FEZ and the corresponding decline in exports through the SEZ amid weak demand in foreign markets attracted the attention of the government. There were fears about whether this situation is plausible and natural, because the growth in turnover in the zones where local tariffs and taxes are operating, and the drop in sales in exempted from taxes and duties SEZ looks illogical.
The government is studying the situation and suggests that exporters from the domestic tariff zone could fraudulently increase the cost of deliveries to countries with low taxes or preferential tax treatment in order to apply for benefits (for example, duty-free imports). According to some suspicions, the goods exported in this way are then returned to the country, and gold is used for subsequent exports. The execution of such circular transactions allows counterparties to obtain huge revenues.

high volatility in the polished diamond market in June, prices for precious stones stabilized, and trade was conducted in narrower price corridors, according to Polishedprices.com.
The main price index for PolishedPrices polished at the end of June was 149.2 points, 2% higher than the corresponding value at the end of May 2014. The average value of the index in June was 0.1% higher than the average in May and was 4.9% higher than in June 2013.
At the same time it is reported that the prices for polished diamonds remained 14.6% lower than the peak values recorded in August 2011. "By the end of this year, we expect a slight increase in prices, but they are unlikely to reach pre-crisis levels," the report said.

The total sales of jewelry and watches in the US in May showed an annual increase of 5.6% and reached $ 7.192 billion, Rapaport reported citing preliminary government data.
Data on sales for April did not change, but the data for March were revised downward. Preliminary results of sales of jewelry and watches in the first five months of the year show an increase of 3.4% to $ 29.95 billion.
Sales growth since the beginning of the year was consistently small and kept within a few percent, however in May the growth was the most significant since November last of the year.

The Namibian authorities are putting pressure on the De Beers group to determine a new sales agreement that would enable the South African state to sell diamonds outside the De Beers system.
Currently, all diamonds mined by Namdeb, a joint venture of the Namibian government and De Beers, are exported to Botswana, where De Beers plants are sorted. Diamonds are mixed with the products of other De Beers companies from around the world.
Only 10% of the Namdeb diamonds mined after that are returned to Namibia and sold to 12 local sightholders through Namibia Diamond Trading Company, a joint venture of the Namibian government and De Beers.
The Minister of Mining and Energy of Namibia Isak Katali (Isak Katali) recently said that the government came up with this initiative, trying to learn the experience of Botswana, reports Bloomberg. However, its implementation will depend on what agreements will be reached with De Beers, Catali added.
"We need to agree with De Beers to establish a separate company," Catali said. "We are guided in our actions by the example of Botswana."

International Diamond Week will open in Israel, and the Israeli Diamond Exchange (IDE) will once again accept hundreds of diamantaires and buyers who are already preparing for a four-day diamond trade festival. International diamond week will be attended by dealers from Israel, India, Belgium, USA and many other countries. In the IDE's sales hall, polished diamonds for a total of over $ 1 billion will be auctioned, according to a press release received by Rough & Polished.
"Nearly two years after the presentation of IDE's concept of the International Diamond Week, we were able to realize the idea, and this event was an important event in the trade between diamond exchanges from around the world," the IDE president said. - By inviting many IDE members to this event where they can interact with members of the Beurs voor Diamanthandel and the Diamond Dealers Club of New York, we create a unique temporary trading platform for transactions and communication .

As a result of the second quarter of 2014, the index of prices for small diamonds (Rapaport Melee Index, RMI) increased by 1% to 138.78 points, according to a press release Rapaport. At the same time, the current value of the index is 3.4% higher than the corresponding figure in June 2013 (134.24 points).
After a good start to the year and a surge in the 1st quarter, when jewelers were replenishing stocks after the Christmas and New Year seasons, in the second quarter, diamond trade slowed. Purchases of diamonds were carried out mainly to fulfill existing orders. However, despite the lull, the mood in the market in June remained quite positive.
It is expected that the third quarter will be a difficult period for participants of diamond trade, as it was in the last few years. At best, diamond prices will be stable, which will reduce the profit margins of diamantaires and may lead to a drop in demand for rough diamonds.

Exports of rough diamonds from Dubai showed an annual growth of 6% in 2013 and reached $ 7.296 billion, Rapaport reported citing data from the Dubai Diamond Exchange (DDE). In terms of volume, diamond exports jumped by 12% to 68.266 million carats, while the average price of exported diamonds fell by 5% to $ 106.88 per carat.
Dubai's import of rough diamonds in 2013 grew by 11% to $ 5.116 billion, an increase of 11% to 67.481 million carats. The average price of imported diamonds practically did not change compared to last year and amounted to $ 75.82 per carat. Dubai's net diamond exports fell 5% to $ 2.179 billion during the reporting period.
DDE has not published data on diamonds for a long time, and the latest figures date back to 2011.
In the first five months of 2014, rough diamond exports from Dubai totaled $ 3.389 billion. 27,908 million carats were exported at an average price of $ 121.40 per carat. The import of rough diamonds for this period is estimated at $ 2.303 billion with the purchase of 35.108 million carats of diamonds at an average price of $ 65.61 per carat.

The Reserve Bank of India (RBI) in its notification of July 7, 2014 said that after consulting with the Government of India, it was decided that net loans, that is, loans provided by foreign suppliers to its Indian customers or buyers without registration letters of credit (loans from suppliers), letters of commitment (loans from buyers), time deposits from any Indian financial institution for the import of diamonds and diamonds, may be allowed for a period not exceeding 180 days from date of shipment. The revised RBI instructions take effect immediately.
This step of the RBI was followed by demarches by diamond importers through industry organizations such as the Gems and Jewelery Export Promotion Council (GJEPC), the Surat Diamond Association (SDA) and others in the the benefit of increasing up to 180 days of the 90-day credit period established by the Circular of the Central Bank of India No. 59 of May 6, 2011, according to which banks belonging to Category 1 are allowed to approve loans provided by suppliers and buyers as well as payment of letters of credit for imports of rough diamonds and diamonds issued for a period not exceeding 90 days from the date of shipment.

Belonging to the De Beers group, the diamond brand Forevermark expects that in 3-4 years India will account for about 30% of its total sales revenue.
Currently, Forevermark's sales in India are around 15% of total global sales.
IdexOnline portal quoted the statement of Forevermark CEO Stephen Lussier that despite the fall of the Indian economy, last year sales by volume and in value terms jumped by 40%. According to him, the growth is due to the fact that the Indians began to consider diamonds as an alternative object of investment.
Lussier noted that prices for Forevermark diamonds are growing, and last year they increased by 15%, and this year it is expected that the brand's sales will be about 50,000 diamonds.

In May 2014 Swiss watch exports increased by 1.2% on a year-on-year basis, to $ 2.1 billion (1.87 billion Swiss francs), according to the Federation of the Swiss Watch Industry. The growth of exports provided sales of watches made of precious metals, Rapaport reports.
The export of watches grew by 2% to $ 1.99 billion (1.77 billion Swiss francs) for the month, while exports of goods fell by 5% to 2.1 million pieces. The export value of other watch products declined by 10% to $ 44 million (39.1 million Swiss francs).
The Federation explained that exports of Swiss watch products to Hong Kong slightly decreased by 0.8% to $ 383.5 million (341.1 million Swiss francs) in May, while exports to the US grew by 3% to $ 228 million (203 million Swiss francs) .
The sharpest growth was demonstrated by exports to Japan, up 10% on a year-on-year basis to $ 122.9 million (109.3 million Swiss francs). The export of watches to Italy rose by 0.9% to $ 140 million (124.5 million Swiss francs), while exports to France grew by 3% to $ 124.5 million (110.7 million Swiss francs). The export of Swiss watches to China slightly decreased by 1% to $ 131.2 million (116.7 million Swiss francs).

Imports of polished diamonds in the US in May 2014 decreased by 2.7% on a year-on-year basis, to $ 3.105 billion, which marked the first month of decline since 2009. The average cost of diamonds imported in May fell by 3.1% to $ 2,052 per carat. Meanwhile, polished exports jumped 32.7% to $ 1.97 billion, which led to a reduction in net polished imports by 33.5% to $ 1.135 billion. The average price of exported stones jumped by 29.3% to $ 2,110 per carat, the report said. Rapaport.
US imports of rough diamonds for the month increased by 15.1% to $ 61 million, while diamond exports jumped 213% to $ 47 million; net imports of rough diamonds in the US in May was $ 14 million, compared with $ 38 million in May 2013.
The net diamond account of the USA for May 2014 (the difference between the total imports of diamonds and diamonds) fell by 34.2% year-on-year to $ 1.149 billion.

In the first half of the year, polished exports from Israel showed an increase of 6% on a year-on-year basis and reached $ 3.552 billion, according to data released by the Ministry of Economy. In terms of volume, polished exports fell 7% to 1.335 million carats, while the average price of exported stones jumped 14% to $ 2,661.97 per carat, Rapaport reports.
Israeli polished imports increased 3% to $ 2.153 billion during the reporting period. Net polished exports from Israel (excess of exports over imports) increased 11% to $ 1.399 billion.
According to the Ministry of Economy, rough imports to Israel in the first half of the year increased by 1% to $ 2.053 billion, but the volume of imports fell by 6% to 5.206 million carats. The export of rough diamonds for the period increased by 6% to $ 1.752 billion, while the net import of diamonds fell by 22% to $ 302 million. The
Israeli net diamond account (the difference between total exports and imports of diamonds and diamonds) in the first half increased by 25% $ 1,097 billion

Beginning June 30, all the services for colored gems that were previously offered by the GIA offices in Bangkok, Carlsbad and New York became available in the laboratories of the Gemological Institute of America (GEM) in Hong Kong and Tokyo, Rapaport reports.
In the laboratories in Hong Kong and Tokyo, highly skilled personnel were employed and specialized equipment was purchased to perform additional services.
"Both Hong Kong and Tokyo are important global centers for the trade in colored gemstones, and we want to improve the quality of service and expand the range of services for our customers," says Kenneth Scarratt, GIA's Managing Director in the Southeast Asia region. "This is one of the initiatives aimed at increasing consumer confidence in precious stones and jewelry."
The GIA services available for color gemstones in Hong Kong and Tokyo include the identification report, the identification of origin, the preparation of GIA Gem Passbook ™, as well as new services: determining the origin of red spinel, marking on cut rubies and sapphires weighing from 0.5 carat, compilation of Portrait Report and Notable Letter.

Indian diamond and jewelry brand Tanishq in early July introduced a new line Inara, which was the continuation of the collection of diamond jewelry, debuted in 2013, reports Rapaport.
The new line consists of jewelry from white and yellow gold with a spray of white rhodium, which emphasizes the brilliance of brilliance, according to the materials of Tanishq. Ornaments Inara - necklaces, earrings, rings, bracelets - are encrusted with colored gems such as rubies, emeralds, blue, pink and yellow sapphires.
Senior vice president of retail sales and marketing of Titan Company Sandeep Kulhalli (Sandeep Kulhalli) said: "The Tanishq brand has always been a pioneer in the manufacture of jewelry with new-generation diamonds for every taste. We are pleased to again present the collection with innovative and unique designs, which is designed for Indian women who consider jewelry to be a continuation of their image. Jewelry glorifies a woman and combines the elegance of diamonds and modern design. "

Announced by the Indian government on July 10, the budget of India for 2014 grieved the participants of the precious stones and jewelry industry, since it does not provide for reforms that would stimulate the growth of this sector.
Nevertheless, the chairman of the Gems and Jewelery Export Promotion Council (GJEPC), Vipul Shah, in the press release issued by this organization, welcomed the creation of the Export Promotion Mission and the restoration of special export zones (SEZ), saying: "Finance Minister Arun Jaitley came out with populist positions, announcing the introduction of a number of small measures and initiatives at the state level. However, none of these steps promises to have any significant impact on the precious stones and jewelry sector. We are glad that our recommendations regarding the regulation of the import duty on the diamond battle and the cancellation of the import duty on preforms of semi-precious and precious stones were taken into account. The regulation of the import duty on processed diamonds at the level of 2.5% will also support the domestic production sector. However, the participants of the jewelry industry are extremely upset that the duty on gold imports has not been reduced by at least 2-3%. This means that the smuggling of gold will continue. " Shah added that the participants of the jewelery and jewelry industry have a reason to rejoice because the government is aimed at promoting exports and restoring special export zones in the country.

Retail sales of jewelry and watches, as well as other luxury goods in Hong Kong in May 2014, fell by 24.6% year-on-year to $ 1.03 billion (7.944 billion Hong Kong dollars), Rapaport reports citing data from the Statistics Department Hong Kong (Census and Statistics Department).
At the same time, sales of jewelry, watches and valuable gifts in department stores jumped 20.5% to $ 37 million (HK $ 288 million). Total sales in this category fell by 22.7%.
In May, the total retail sales in Hong Kong reached $ 5 billion (39 billion Hong Kong dollars), down 4.1% over the same period last year. In addition, sales statistics for April 2014 were revised downward, so that sales showed a decline of 9.9%. Decrease in retail sales from the beginning of the year to May is estimated at 0.2%.
The government notes that the cumulative retail sales in May were negatively affected by weak demand for luxury goods and jewelry, which reflects a decrease in the buying activity of tourists. In the meantime, sales of goods targeting local residents grew, which indicated positive sentiments in the local market amid good employment figures.

Organized by UBM Media, the second Singapore Jewelery & Gem Fair will be held from 23 to 26 October 2014 at the Sands Expo and Convention Center, Rapaport reports.
UBM said that in 2013, 283 exhibitors and 8,739 visitors took part in the debut issue of the Singapore Jewelery & Gem Fair, and this year 300 exhibitors are expected to attend.
Singapore was chosen as a venue for this exhibition not by accident - UBM took into account a large number of high-income citizens living there, as well as a developed jewelry market.

The polished exports from Belgium in June 2014 showed stability and amounted to $ 1.363 billion, according to the Antwerp World Diamond Center, Rapaport reports. The volume of polished exports for the reporting month fell by 13% year-on-year to 557,817 carats. Imports of polished diamonds increased by 5% to $ 1.509 billion, resulting in a deficit of net polished exports of $ 146 million, almost double the corresponding figure for June last year.
Belgian imports of rough diamonds jumped 20% to $ 1.301 billion for the month, while diamond exports rose 5% to $ 1.325 billion. Net import of diamonds in June was negative at $ 24 million compared to a deficit of $ 178 million in June 2013.
Belgium's net diamond account for June fell to a negative value of $ 122 million compared to a surplus of $ 103 for the same period last year.
In the first half of the year, Belgium's polished exports rose 6.3% to $ 7.567 billion, while polished imports increased 6.1% to $ 7.4 billion, which increased net exports by 19% to $ 167 million.
Belgium's rough diamond imports jumped 12.1% to $ 7.86 billion, while exports rose 7.5% to $ 8.143 billion. The net import deficit for the first half of the year was $ 283 million, compared to a deficit of $ 559 million a year earlier.
The Belgian net diamond account for January-June of 2014 fell 36% year-on-year to $ 450 million.

Scientists from the US managed to squeeze the diamond under pressure more than three times, reports Lenta.ru. The authors published the results of their research in an article in the journal Nature, which reports that the maximum compression ratio that scientists were able to achieve was 3.7 times.
The pressure required for this was equal to five terapascals (which is approximately 50 million terrestrial atmospheres). The diamond was squeezed by radiation from 176 laser beams, which created pressure on the substance, causing the distance between the carbon atoms in the crystal lattice sites to decrease. According to the researchers, this led to the formation of a special degenerate state of the electron substance in the crystal, which is described by the methods of quantum statistics only in certain approximations.
Diamond is one of the modifications of carbon compounds. It is believed that the mineral can exist in a stable state for quite a long time. It is also characterized by high hardness and ordering of the crystal lattice.
Physicists believe that the reproduction in the laboratory of extreme conditions of ultrahigh pressures and densities characteristic of the cores of giant planets will help significantly to understand the internal mechanisms and structure, as well as the evolution processes of such celestial bodies. The study of carbon in extreme states can also be useful for progress in the field of thermonuclear fusion.

The program of the recent visit of the wife of Japanese Prime Minister Akie Abe to Western Australia included an inspection of the legendary pink diamonds Argyle, produced by Rio Tinto. The First Lady of Japan visited the province of Australia at the invitation of the regional government.
The collection of Argyl pink diamonds, prepared for the 2014 tender (2014 Argyle Pink Diamonds Tender), consisting of almost 50 of the world's rarest and very valuable pink diamonds, was presented by Aki Abe within the exclusive display. These diamonds are made from the finest diamonds mined in the Argyll mine located in the East Kimberley region.
Aki Abe first saw the most valuable diamond in the collection - a fantasy bright pink with a purple shade of a diamond weighing 1.59 carats of emerald cut under the name of Argyle Toki ™. The name of this stone is associated with delicate pink feathers of a rare Japanese bird, symbolizing the importance of Japan as one of the largest export markets for rare pink diamonds.
Jean-Marc Lieberherr, Managing Director of Rio Tinto Diamonds, said: "We are pleased to welcome Mrs. Abe and are pleased to show her these beautiful diamonds, highlighting the wealth of Australia and symbolizing long-standing ties with Japan."

According to the data and forecasts of the Ministry of Energy and Mining of Côte d'Ivoire, gold production in the country will grow to 22 tons in 2016, the Russian Jewelery Network reports.
According to representatives of the ministry, the production of yellow metal by 2016 will increase to 22 tons, 30% more than the current figures. Growth will be achieved through the commissioning of two gold mining projects. Gold mining in Cote d'Ivoire in 2013 amounted to 15.5 tons, this year the output is expected at 17 tons. The
government is actively encouraging the development of the mining industry in an attempt to diversify its economy, which is traditionally based on agriculture. This year, the ministry issued 140 permits for the exploration of mineral deposits.

The diamond brand Forevermark belonging to the De Beers group plans to expand and enter the markets of the United Kingdom and Ireland by the end of the year.
Although Forevermark's global office is based in London, the United Kingdom and Ireland will be the first of the West European markets where Forevermark diamonds will be sold.
The brand already works in the markets of Asia, North America, the Middle East, Australia and Turkey.
Forevermark has appointed Crossworks Manufacturing as a licensed partner in the region, which will work with selected retailers to supply products to this regional market.

After a few weeks of the prevailing stability in the price of polished diamonds, volatility returned to the market, Polishedprices.com reported.
The main price index for polished PolishedPrices on Monday opened at 147.2 points, which is 0.6% higher than the corresponding value a week ago.
In general, the value of the index is now 3.8% higher than the corresponding indicator a year earlier and 4.4% higher than at the beginning of 2014.
The most vulnerable to fluctuations in the price of low-quality diamonds weighing 1 carat. In particular, the prices for diamonds of K-grade purity from SI3 jumped by 7.1% compared to last week, and diamonds to category M I3 fell 7.2%.

The polished exports from Belgium in June 2014 showed stability and amounted to $ 1.363 billion, according to the Antwerp World Diamond Center, Rapaport reports. The volume of polished exports for the reporting month fell by 13% year-on-year to 557,817 carats. Imports of polished diamonds increased by 5% to $ 1.509 billion, resulting in a deficit of net polished exports of $ 146 million, almost double the corresponding figure for June last year.
Belgian imports of rough diamonds jumped 20% to $ 1.301 billion for the month, while diamond exports rose 5% to $ 1.325 billion. Net import of diamonds in June was negative at $ 24 million compared to a deficit of $ 178 million in June 2013.
Belgium's net diamond account for June fell to a negative value of $ 122 million compared to a surplus of $ 103 for the same period last year.
In the first half of the year, Belgium's polished exports rose 6.3% to $ 7.567 billion, while polished imports increased 6.1% to $ 7.4 billion, which increased net exports by 19% to $ 167 million.
Belgium's rough diamond imports jumped 12.1% to $ 7.86 billion, while exports rose 7.5% to $ 8.143 billion. The net import deficit for the first half of the year was $ 283 million, compared to a deficit of $ 559 million a year earlier.
The Belgian net diamond account for January-June of 2014 fell 36% year-on-year to $ 450 million.

Canadian Pershimco Resources Inc. estimated the prospects for the development of a gold mining project in Panama, according to the Russian Jewelery Network.
Pershimco received the results of the Cerro Quema feasibility study in the southwest of Panama, according to which, over a period of 5 years of operation, the company will be able to receive more than 417,000 ounces of gold at the mine. Average annual production volumes are expected at 78.5 thousand ounces. Capital costs for the development of Cerro Quema are estimated at $ 117 million.
Net present value of the company will reach $ 110 million. The cost of total production costs will be $ 631 per ounce. Pershimco's management is currently involved in financing the development of the project.

The Indian International Jewelery Week (IIJW 2014) ended on July 17, followed by the opening of the Indian International Jewelery Show (IIJS), Rapaport reported.
The 4th edition of IIJW was celebrated with special solemnity, many celebrities who advertised diamonds and jewelry of new collections exhibited by the exhibitors took part in the event.
IIJW has established itself as a good platform for discovering new talents by introducing Indian schools of jewelry design.
In an interview for Rapaport News, the chairman of the GJEPC, Vipul Shah, said: "We have received a phenomenal amount of feedback from the international jewelry week this year. All participants mark good reviews and success. We even think that next year this event can be held at the international level.
The main sponsor of IIJW, the diamond brand Nazraana by Rio Tinto, presented one product from its seven collections, which were presented during the week: Infinity, Heritage, Contemporary, Spirituality, Love, Floral and Men's Luxury line.
The Best of the Best collection this year consisted of 21 items, which was presented by PC Jewellers. Collections were divided into two sections - traditional and modern design.
After the completion of IIJW, at the height of the rainy season, the 31st IIJS Fair was opened in the Bombay Exhibition Center of Mumbai, in which 800 exhibitors, located on 1,850 booths, took part.

Zimbabwe opened an auction of rough diamonds on the Dubai Diamond Exchange (DDE), putting up for auction about 1 million carats of stones.
This is the second time that authorities in Harare hold an auction on the site in Dubai, and the fourth open sale of Zimbabwean rough diamonds since December 2013.
The Sunday Mail reported that the auction will last two weeks, and it is expected that the average price of diamonds after the auction will be $ 100 per carat compared to $ 76 per carat recorded at the previous auction.
According to the statement of Francis Gudyanga, the permanent secretary for the development of mining in Zimbabwe, Mbanda Diamonds, Anjin, Jinan, Diamond Mining Corporation

Organizers of the Zimbabwe Diamond Conference, which is scheduled for the first week of November, said that the most prominent leaders of the global diamond industry had already accepted the invitation and expressed their readiness to act as the main speakers at this symposium.
Among the speakers on the list are Honorary President of the World Diamond Council Eli Izhakoff, President of the World Federation of Diamond Bourses Ernie Blom, and President of the World Jewry Confederation Gaetano Cavalieri Cavalieri).
"I look forward to speaking at this important event. Zimbabwe is a major diamond producer and can turn into an important trade center that will provide benefits to all citizens of this country, "

The president of the Israeli Diamond Exchange (IDE) Shmuel Schnitzer (Shmuel Schnitzer) urged international buyers to visit the Diamond Week, scheduled for September 1 to 4, 2014, according to an IDE press release received by Rough & Polished.
Noting the steady growth of the luxury goods market, Schnitzer called the IDE event an ideal platform for the purchase of diamonds, which precedes a series of international jewelry and jewelry fairs in Asia and elsewhere.
"When traditional vacations begin for the participants of the jewelry industry, trade turnover falls, and the market is in a lull,"

The auction house Sotheby's recently appointed Daryl Wickstrom (Daryl Wickstrom) to the newly established position of managing director of global units for watches and jewelry, Rapaport reports.
Wyxtrem joined Sotheby's in 1996, and in July 2008 he was appointed executive vice president and deputy chairman of Sotheby's in Asia. During his time in this position, Wyxtrom successfully developed a growth strategy in Asia, and in particular, provided for the expansion of Sotheby's market share in China.
The operating director of Sotheby's Bruno Vinciguerra commented on the new appointment of Wickstrom as follows: "In his new position, Mr. Wickstrom will work closely with our international teams of specialists, formulate and implement Sotheby's strategy to expand operations and increase sales in these critical regions, which in recent years have demonstrated record high performance. "
In 2013, the watch and jewelry division of Sotheby's received record figures: sales of jewelry and watches reached $ 529 million and $ 97 million, respectively.

Diamond-mining giant De Beers in the second quarter of this year registered an increase in diamond mining volumes by 7% year-on-year to 8.515 million.
Following the results of 2014, the group plans to produce 30-32 million carats of diamonds.
Anglo American, which owns an 85 percent stake in the diamond mining group, said the Venetia mine, located in South Africa, was the main diamond producer in the reporting period, with an increase in production of up to 834,000 carats of diamonds, three times as much as in the same period last year.
Meanwhile, diamond production at the South African Voorspoed mine increased 18% to 186,000 carats, while the Kimberley mine recorded a 31% drop in production to 154,000 carats. 

The LVMH group reported revenue growth of 3% year-on-year to $ 18.9 billion (€ 14 billion) for the first half of 2014, while the group's revenue decreased 4% to $ 2 billion (€ 1.51 billion) , reports Rapaport. Sales in comparable stores of the LVMH group showed an increase of 5%.
The retailer observed the high stability of sales of luxury goods in Europe and continued growth in Asia and the US.
Sales of jewelry and watchmaking divisions of LVMH declined by 1% year-on-year to $ 1.7 billion (€ 1.266 billion), while sales in comparable stores grew by 3%. Operating profit in the jewelry sector fell sharply by 31% to $ 144 million (€ 107 million).
The company announced that economic uncertainty forced multibrand retailers to be cautious about replenishing stocks. Sales results in own boutiques belonging to LVMH brands were very good.
Bulgari brand won from positive dynamics in the jewelry market; brand TAG Heuer focused on the development of its legendary watch lines. The decrease in profit is due to the negative effect of exchange rate differences.
LVMH CEO Bernard Arnault said: "The results of the first half of the year demonstrate the sustainability of LVMH and the strength of its brands, as well as the group's ability to respond to changes in the economic environment and financial uncertainty."

According to the Anglo American corporation, the income of its 85% owned De Beers group increased by 15% year-on-year and reached $ 3.823 billion in the first half ended June 30.
A statement released last Friday said De Beers contributed $ 469 million to the operating profit of the group, which reached $ 765 million.
De Beers diamond sales increased 15 percent to $ 3.5 billion.
Anglo noted that The increase in revenues from rough diamonds is explained by the increase in the volume of sales of products, despite the decrease in sales prices by 4%.
The production of rough diamonds by De Beers grew by 12% year-on-year to 16 million carats.
The increase in production is due to increased productivity at Debswana in Botswana and in South Africa.
This year, the diamond mining group plans to increase production to 31-32 million carats.

The Indian Diamond Export Promotion Council (GJEPC) and the Diamond Dealers Club of New York (DDC) from August 11 to 14 will organize the Indian Diamond Week ) in NYC.
It is expected that about 100 diamantaires from DDC and GJEPC will take part in the meetings.
Indian Diamond Week - a joint initiative of DDC and GJEPC - is designed to provide Indian diamond manufacturers in the United States with a platform to develop business ties and create opportunities for interaction between the largest wholesalers and diamond manufacturers from New York and India, DDC members and buyers from other countries. DDC is the largest diamond trade organization in the United States, as well as one of the world's leading diamond exchanges.

The company Kalyan Jewellers, one of the leading Indian jewelry chains, plans in the current financial year to invest 14 billion rupees in the opening of 28 jewelry stores in India and the countries of the Persian Gulf. The company will focus on selling diamonds at affordable prices.
According to the report, the company plans to open five salons in Kerala, three in Kolkata, two in Mumbai and Bangalore, and other retail outlets in other cities of the country. In the Persian Gulf region, it is planned to open stores in Qatar, Kuwait, Dubai, Abu Dhabi and Bahrain.

The US consumer price index (CPI) for jewelry in June 2014 fell 4.5% on a year-on-year basis to 170.83 points, Rapaport reported. The value of the index was slightly higher than the corresponding figures for May and April 2014.
The consumer price index for watches for the reporting month fell by 0.8% to 122.71 points.
The decline in indices was influenced by the stably low prices for raw materials for the jewelry industry, observed in the last few months. The average price of gold and platinum was 3% lower than in June 2013.
The price index for diamonds RapNet Diamond Index (RAPI ™) for stones weighing 1 carat in June fell by 3.2%. Prices for diamonds weighing 0.3 carats and 0.5 carats rose by 10.2% and 6.2%, respectively. The price index for diamonds weighing 3 carats for the reporting month fell by 2.8%.
The general consumer price index for all product categories in June increased by 2.1% in the year-on-year terms and reached a new record level of 237.69 points.

In June 2014, Indian polished exports amounted to $ 1.469 billion (2,695,000 carats), down 0.66% from 2,806,000 carats of diamonds worth $ 1.478 billion, exported in June 2013, according to preliminary figures from the Council for the Promotion of the Export of Gemstones and Jewelry (Gem & Jewelery Export Promotion Council, GJEPC).
Between April and June 2014, polished exports from India totaled $ 4.740 billion in value terms and 8,106 carats in volume, down 0.67% on a year-on-year basis (compared to $ 4.772 billion for exports of 8,669,000 carats of diamonds a year earlier).
Indian imports of rough diamonds for June 2014 rose 16.19% to $ 1.595 billion (12,994,000 carats) compared to $ 1.373 billion, derived from the export of 11,658,000 carats in June 2013. The import of rough diamonds from February to June 2014 grew by 3.69% and reached $ 5.13 billion (38,491,000 carats), compared to $ 4.947 billion with the import of 42,737,000 carats for the same period in 2013.

Participants in the Indian diamond industry, suffering from a constant shortage of rough diamonds, welcomed De Beers' recent announcement of a change in the sales model.
De Beers has adopted a more flexible approach to sales of rough diamonds to non-sightholder companies that can now purchase diamonds through the Global Sightholder Selling System (GSS).
The updated model for the distribution of raw materials provides for the application of a new method for determining the customer base of GSS in accordance with the new simplified process of qualifying clients based on their compliance with De Beers requirements and their demand for rough diamonds.
As De Beers CEO Philippe Mellier stated: "The sightholder system has been the foundation of our sales model for many decades and will remain so in the new contract period. However, the changes that we are going to introduce give more flexibility when acquiring the De Beers product.

According to some reports, the Government of Zimbabwe has imposed a ban on the export of rough diamonds in order to ensure the state's maximum revenue from mining precious stones.
NewsDay quoted the statement of the mining minister Walter Chidhakwa that the issue was widely condemned, and the Cabinet came to a consensus and decided that it was necessary to introduce a new program for the development of the industry.
Chidakva said that the authorities recognize the export of raw diamonds from the country as "irrational and unacceptable".
"What are we doing with our diamonds? We can not continue to export raw materials, as this is irrational and does not ensure economic development, "the minister said. "We need to develop and implement large-scale programs to ensure the creation of value-added, including cutting and polishing diamonds and making jewelry."
Despite these reports, a diamond auction is currently taking place at the Dubai Diamond Exchange (DDE), to which Zimbabwe has put up about 1 million carats of diamonds. This is the fourth open sale of diamonds mined in Zimbabwe since December 2013.
Chidakva said that over the past two months, negotiations are under way with potential investors who want to access Zimbabwe's diamonds in order to encourage the development of polished diamonds.
"India has grown a whole city that processes Zimbabwe diamonds, and we, being the direct source of diamonds, can not boast of anything in the context of creating added value."

From 26 to 28 August in the Tokyo Big Sight Exhibition Center will be held the Japan Jewelery Fair 2014, organized by UBM Japan Ltd. and the Japan Jewelery Association.
It is expected that more than 420 exhibitors from 18 countries and regions will take part in the fair, and the number of visitors to Japan Jewelery Fair will exceed 15,000, Rapaport reports.
Within the framework of the jewelry exhibition, the 50th anniversary of the Japan Jewelery Designers Association will be celebrated, the members of which will for the first time organize a separate pavilion. According to UBM, products of Japanese pearls are very popular at the exhibition, and this year a new trend was the restyling of jewelry.
At the Japanese jewelry fair, a wedding jewelry section will be organized, in which exclusive collections will be presented, as well as an annual jewelry design competition.

The Indian trade balance deficit (CAD) can be controlled, thanks to the drop in gold imports by 62% to 127 tons over the period from April to June compared to the previous quarter of the fiscal year.
In fact, the increase in gold imports in June caused a sharp increase in the trade balance deficit to a record level for 11 months, and the uncertain pressure on world oil prices exerted additional pressure on the trade balance. India's trade deficit last month soared to $ 11.76 billion, a record high since July 2013.

The De Beers Group has changed the distribution system for rough diamonds, which is carried out by its Global Sightholder Sales Unit (GSS) for the next contract period from March 2015 to March 2018.
The company's message to Rough & Polished via e-mail says that the distribution model now uses a new method of determining the GSS customer base according to a new simplified process of qualifying customers based on their compliance with De Beers requirements and their demand for rough diamonds. In addition, the company will change its sales approach to more flexible, so that non-sightholder firms can also purchase rough diamonds through GSS.
"The sightholder system has been the foundation of our sales model for many decades and will remain so in the new contract period," said De Beers CEO Philippe Mellier. "However, the changes that we are going to introduce give more flexibility when acquiring the De Beers product. They will allow companies that demonstrate high demand for our rough diamonds to buy it on a fixed-term contract as sightholders; we also offer diamond companies that are not sightholders to demonstrate their demand for De Beers diamonds.

Pangolin Diamonds extracted a white diamond weighing 0.005484 carats when processing soil samples collected not recently by the Botswana project Malatswae, for which Pangolin received a license for exploration and exploration PL247 / 2014.
The company's announcement says that the Pangolin field team is currently collecting additional samples from adjacent sites to determine the value of the find.
Kimberlite project Malatsvae is located 70 km southeast of the diamond mine Orapa (Orapa). According to the company, several kimberlite exploration assets are located on the concession territory.

The Jewelry Exchange reported that in the first quarter ended March 31, 2014, its sales in comparable stores rose by 9.9% on a year-on-year basis. In March 2014, the company's sales showed an increase of 11%. The Jewelry Exchange did not disclose accurate sales figures, but said that overall growth was due to improved sales of luxury goods, as well as the implementation of programs aimed at improving the quality of customer service, Rapaport reports.
The new retail store The Jewelry Exchange in Irving, Texas, reported sales growth of 16.3% for the quarter.
The parent company of the Jewelry Exchange is the Goldenwest Diamond Corporation, which also operates the Jewelry Factory in New York.

According to the recently published Kimberley Process (KP) data, Botswana remains the world's leading producer of diamonds at a cost. In 2013, diamond production in this South African state jumped 22% year-on-year to $ 3.63 billion, while production increased 13% to 23.187 million carats.
The average price of raw diamonds produced in Botswana in 2013 increased by 8% to $ 156.36 per carat.
KP said that Russia has maintained the position of the second largest diamond miner by the cost of raw materials, and the world leader in terms of diamond production.
As a result of last year, diamond production in Russia increased by 8% in volume and in value terms to $ 3.11 billion, while 37.884 million carats of diamonds were mined.
The average price of Russian diamonds in 2013 was $ 82.21 per carat.
KP reports that the volume of diamond mining in Canada last year fell by 5% in value terms to $ 1.91 billion, falling by 1% to 10.561 million carats. The average price of Canadian rough diamonds was $ 180.52 per carat, falling by 5% compared to the previous year. Canada remained the third largest diamond producing country in the world.
In Namibia, last year saw a sharp increase in diamond output by 15% to $ 1.36 million, a total of 1.689 million carats, and the average price jumped by 46% to $ 805.24 per carat.

the whole world will wait for Indian diamonds, since this country has significant potential, especially in view of the absence of large new deposits and the growth of demand for diamonds, Rapaport reported citing The Times of India.
"The world needs more diamonds. Now, there are no large diamond deposits open, and the mines in Madhya Pradesh are known for their high diamond content, "Walsh said, urging the rapid issuance of permits to develop a diamond project in the central region of the country.
In conversation with reporters at the Australian B-20 summit, Walsh expressed his enthusiasm and hope for the new government of Modi, which, in his opinion, should allow further development of the project after a long wait for the necessary approvals. "We remain patient, and we have far-reaching goals."
According to Rio Tinto, the group is already conducting a diamond business in India, and thousands of workers are employed at the diamond cutting plant, which is among the twenty largest international companies operating in India.

Kennady Diamonds Inc. recently announced the start of a summer drilling program at the Kennady North diamond project located in the Northwest Territories of Canada, Rapaport reports. The company plans to drill wells with a total length of at least 5,000 meters to delineate Kelvin kimberlites and Faraday kimberlites. In addition, Kennady Diamonds expects the completion of exploration drilling on MZ and Doyle kimberlites and four new exploration sites.
Drilling in the Kelvin kimberlite is carried out using two drilling rigs.
Patrick Evans, CEO of Kennady Diamonds, said: "The Kelvin system is over 1 km to the southwest of the main Kelvin tube. Previous drilling operations revealed the intersection of kimberlite rocks at a distance of several meters to more than 20 meters from the surface. If the new drilling program is successful and the dike system is confirmed at depth, there is a possibility of a significant increase in the estimated reserves. "
In the meantime, during the 1 st and 2 nd quarters an analysis of a small batch of gross samples with a volume of 25 tonnes of rocks was completed, the results of which will be announced in the 4th quarter.

The realization of a sensational initiative to reorganize diamond mining companies operating in the Zimbabwean Marange region may take longer than anticipated, as the authorities in Harare faced legal difficulties trying to merge the mining companies without violating the contracts signed with them.
The Herald quoted a recent statement by Deputy Minister of Mines, Fred Moyo, that the companies have existing contracts for the extraction of minerals that must be observed.
"Currently, the mines are being developed in accordance with contracts, and if we are going to unite the companies, we should do it legally, respecting the interests of investors, observing our laws and not causing a dual reaction to our actions," Moyo said. - This is the plane in which we need to work, which is what we are doing. It is not yet clear how to implement the initiative, so that our actions are not regarded as depriving investors of the rights invested in accordance with the legislation that was in effect for a certain moment. "
The mining minister, Walter Chidhakwa, said earlier that the reorganization of the Marange enterprises, designed to improve revenue inflows and improve transparency of operations, will be completed by the end of this year.
Last year, diamond mining companies told Chidakve that alluvial diamonds had been depleted at their concessions, and asked them to allocate new sites for them.

Rio Tinto Diamonds celebrated the 25th anniversary of the establishment of the office in Mumbai and introduced seven new collections under its main Nazraana brand, according to a press release received by Rough & Polished.
Vikram Merchant, the manager of the Rio Tinto Diamonds representative office in Mumbai, responsible for the promotion of Nazraana, said that the brand is associated with a wide variety of diamond jewelry, highly ambitious and at the same time affordable, that can provide overall growth sales in the category of diamond jewelry.
New collections under the Nazraana brand are represented by products designed as gifts for various holidays, in seven themes: love, infinity, heritage, spirituality, modernity, floral design and a collection of "luxury" for men.
According to international jewelry consultant Nazraana Paola DeLuca, the creation of new lines was based on many traditional Indian designs, which are presented in a modern style.

Titan Company's Titan Company, a retailer selling watches and jewelry, reported a decrease in its jewelry division's financial results for the first quarter of fiscal year 2015, which led to a drop in net profit for the reporting period, the Diamond World portal reported.
Net profit of Titan for the 1st fiscal quarter decreased by 3% to Rs 1 777 million, and total sales showed a decrease of 7.6% year-on-year, to Rs 28.53 billion.
The figures for the jewelry division of Titan indicate a 10% drop in sales to Rs 23.25 billion, while watch sales grew 10% to Rs 4.39 billion.
The company notes that its jewelry sales have subsided due to government policy regarding the import of gold. At the same time, it is reported that consumer spending in the reporting quarter was more stable than in the previous months.

While Surat remains the world's diamond center, diamond production activities largely depend on migrants who would prefer to stay in their homeland. As a result, there is a tendency to shift the diamond cutting segment from Surat to the enterprises located in the Indian region of Saurashtra, in particular to cities such as Rajkot, Amreli, Bhavnagar and Junagadh, Rapaport.
The president of the Surat Diamond Association (SDA), Dinesh Navadia, told Rapaport News: "Until 1985, the diamond industry was concentrated in rural areas and on the outskirts of Surat. It was thanks to them that Surat became the capital of the diamond industry. After 1985, the production of diamonds began to open in the city itself. At first the cost of living in Surat was acceptable, but gradually the prices for real estate and food products increased. Workers who came to Surat from various areas can not afford such expenses. Thanks to a system of unified wage standards, workers in any city outside Surat can receive the same wages as in Surat, so the number of diamond cutting enterprises in cities such as Rajkot,
Navadia considers this trend positive for the industry, noting that it does not infringe on the importance of Surat, the undisputed diamond capital. In his opinion, in the surrounding cities only faceting and polishing will be carried out, while the rest of the work - sorting and cleaning of diamonds, grading and evaluation of cuts and others - will be carried out in Surat.

RapNet's Rapaport Diamond Trading Network will organize the first symposium to be held at the W Hotel in Fort Lauderdale, Florida. All interested participants of diamond and jewelry trade are invited to the symposium, and for members of RapNet, participation in this event is free of charge.
The main theme of the symposium will be the application of the latest technologies in jewelry trade with the aim of increasing sales and profits. Participants of the event, selling diamonds through the Internet, will be able to meet and talk in person. Separate sessions will be organized for IT professionals and software developers.

More than eight years after its foundation, the Responsible Jewelery Council (RJC) has reported a milestone in history: the number of its members has exceeded 500 companies and organizations, 363 of which have successfully passed certification in accordance with the Code RJC behavior.
For the first six months of 2014, RJC has witnessed a steady increase in the number of new applications for membership, and by now there are 511 RJC members. The most noticeable growth was recorded in the last two quarters.

Companies involved in the production of diamonds grown in the laboratory began investing in faceting and polishing stones in India, which will establish the subsequent export of end products for use in industry, research and precision technology, Rapaport reports citing The Times of India.
American research and consulting company Frost & Sullivan in its report on diamond growing laboratories (Diamond Growing Greenhouses) said the great potential of the traditional diamond cutting and polishing industry. The company refers to the fact that only 30% of the diamond-growing capacity will be used to create jewelry diamonds, while the remaining 70% will be used for the production of industrial stones. This will enable diamond cutters to diversify, as previously the diamond industry was completely entrenched for the production of cut diamonds of jewelry quality.
The report says that by 2018, world sales of diamonds grown in the laboratory will account for 1.9% of the total global sales of diamonds.
In recent years, some companies have invested in the training of Indian vendors to expand the capabilities of Indian specialists in the production of cut diamonds for industrial purposes. Companies importing diamonds grown in laboratories have about 500 employees in Surat.
"There is a huge potential for creating new jobs in the diamond industry and training cutters and polishers to work with diamonds grown in the laboratory, processing them for use in various industries. Diamonds grown in the laboratory have become a new source of raw materials for trade, while stocks of natural diamonds are depleted, "said one industrialist.

The Israeli Diamond Exchange (IDE) issued a letter of thanks, noting Japanese citizen Asaka Shinjiro, who announced his readiness to come to Israel to purchase diamonds, despite the complication of the security situation in the country, IDE reports.
Although Israel faces serious security threats and its cities are subject to rocket attacks, a number of diamond buyers are still in the country and are not in a hurry to leave. Currently, about 90 foreign diamond dealers work at the diamond exchange in Ramat Gan.
As a sign of solidarity with the Israeli government and fellow diamantaires who do not stop their work, within the reach of missile strikes, IDE President Shmuel Schnitzer presented Shinjiro with a special award. During the awards ceremony, the Board of Directors of the Exchange was represented by Deputy President Yaakov Katan, Vice President Yehezkel Blum, General Manager Moti Besser and member of the stock exchange Gal Vered.

Gem Diamonds said that in the first half of the year its revenues at the Letšeng diamond mine in Lesotho rose 80% year-on-year to $ 147.8 million.
The message received by Rough & Polished via e-mail says that As of June 30, 2014, the company had free cash of $ 114 million, compared to $ 71 million at the end of the previous quarter.
The enterprise at the Letseng mine announced dividends totaling $ 40 million, which provided a net cash flow of $ 25 million to Gem Diamonds, and taxes and dividends paid to the government of Lesotho were $ 3 million and $ 12 million, respectively.

KGK Jewelery Manufacturing Limited has entered into a licensing agreement with the Xcel Brand Ltd, based in New York, regarding the jewelry brand Judith Ripka.
Under the terms of the signed agreement, KGK will produce, deliver and retail jewelry products, including jewelry made of precious metals, diamond jewelry and wedding jewelry under the brand Judith Ripka.
Channels for the distribution of jewelry products include luxury retail stores, elite department stores and specialized jewelry stores around the world. 
Chairman and CEO of Xcel Brands, Inc. Robert D'Loren (Robert D'Loren) said: "I am very pleased with the cooperation with KGK Jewelery. This powerful alliance of Xcel and KGK under the Judith Ripka brand has a huge growth potential in the wholesale jewelry market. "

In an effort to enter the Indian market, the watch company Swatch suggests using diamonds cut in India at their watch factories in Switzerland, ET newspaper reports.
Swatch plans to invest $ 10 million in the next decade and in the first five years to open more than 30 retail stores in India.
Indian law requires foreign monobrand companies to make at least 30% of raw material purchases in India. In addition to the "mele" diamonds, Swatch intends to buy in India a full range of materials for its products, including fittings.

Petra Diamonds announced that its diamond production increased by 17% to 3.1 million carats in the 2014 financial year ending June 30, compared to 2.7 million carats in diamonds from the same period last fiscal year.
The increase in production is due to improved production performance at the Finsch mines, Williamson, Koffiefontein mines and Kimberley underground mines.
The company's diamond output exceeded the expected market share of 3 million carats.
Petra notes that diamond production could exceed 3.1 million carats in the case of a more successful operation of the Cullinan and Helam mines.
The diamond output of the Cullinan project declined 5% to 823,619 carats during the year, compared with 868,975 carats of diamonds, a year earlier, due to a decrease in the average diamond content of up to 27.8 carats per hundred tons.
During the reporting period, 35,148 carats of diamonds were extracted at the Helam mine, 32% less than in the previous financial year (52,011 carats).
Meanwhile, Petra's revenue for the fiscal year 2014 jumped 17% to $ 472.6 million from $ 402.7 million, a year earlier.
The sales volume showed an increase of 23% to 3.1 million carats compared to 2.5 million carats sold in the previous year, which corresponds to the trend of production growth.

In June 2014 Swiss watch exports increased 1.4% on a year-on-year basis, to $ 2,065 billion (1.863 billion Swiss francs), according to the Federation of the Swiss Watch Industry. The growth of exports provided sales of watches made of precious metals, Rapaport reports.
The export of watches grew by 1.2% to $ 1.952 billion (1.761 billion Swiss francs) for the month, while exports increased by 4.8% in terms of the number of products. The export value of other watch products showed an increase of 9.2% to $ 50.6 million (45.6 million Swiss francs).
The Federation explained that half of the 30 main markets for Swiss watches showed a negative trend, but generally positive trends prevailed.
The export of Swiss watch products to Hong Kong in June fell by 2.2% to $ 359.8 million (324.5 million Swiss francs), while exports to the US fell 0.5% to $ 206.3 million (186 million Swiss francs).
The export of watches to Italy increased by 14.5% to $ 132.8 million (119.8 million Swiss francs), while exports to Japan continued the trend last month and increased by 20.4% to $ 130.6 million (117, 8 million Swiss francs).
The export of Swiss watches to China fell by 6.8% to $ 128.5 million (115.9 million Swiss francs).
Exports to Germany fell by 1% to $ 114.3 million (103.1 million Swiss francs).
According to the results of the first half of 2014, the total Swiss watch exports increased by 3% on a year-on-year basis and amounted to $ 11.678 billion (10.532 billion Swiss francs), while the number of watches sold was 13.128 million units, an increase of 0.8%.

The LVMH group reported revenue growth of 3% year-on-year to $ 18.9 billion (€ 14 billion) for the first half of 2014, while the group's revenue decreased 4% to $ 2 billion (€ 1.51 billion) , reports Rapaport. Sales in comparable stores of the LVMH group showed an increase of 5%.
The retailer observed the high stability of sales of luxury goods in Europe and continued growth in Asia and the US.
Sales of jewelry and watchmaking divisions of LVMH declined by 1% year-on-year to $ 1.7 billion (€ 1.266 billion), while sales in comparable stores grew by 3%. Operating profit in the jewelry sector fell sharply by 31% to $ 144 million (€ 107 million).
The company announced that economic uncertainty forced multibrand retailers to be cautious about replenishing stocks. Sales results in own boutiques belonging to LVMH brands were very good.
Bulgari brand won from positive dynamics in the jewelry market; brand TAG Heuer focused on the development of its legendary watch lines. The decrease in profit is due to the negative effect of exchange rate differences.
LVMH CEO Bernard Arnault said: "The results of the first half of the year demonstrate the sustainability of LVMH and the strength of its brands, as well as the group's ability to respond to changes in the economic environment and financial uncertainty."

Rio Tinto Group announced an increase in profits from core activities by 21% in the first half, the company said in a press release. At the same time, the profit of the diamond division of the company fell by 17% year-on-year to $ 160 million.
Income indicators for the first half of 2014 take into account tax payments of Rio Tinto Diamonds in the amount of $ 25 million relating to previous years.
In absolute terms, the company's operating expenses for the reporting period were $ 188 million lower compared to the first half of 2013, including $ 100 million won on the exchange difference. Cash inflow from operating activities of $ 424 million was 27% higher than in the same period last year, reflecting higher EBITDA (earnings before taxes, interest, depreciation and amortization) and efficient management of working capital.
For the first half of 2014, prices for rough diamonds rose by 8%. In the medium and long term, there is a significant increase in demand for diamonds, especially in India and China, due to the growth in disposable income and spending on luxury goods.
The production of raw diamonds in the first half of the year increased by 2% compared to the same period last year. It is reported that high production figures at the Diavik mine made it possible to compensate for a significant decline in production volumes in the Argyle project, caused by the transition to underground mining and processing of tailings of low-grade rock during the first quarter, when the capacity of underground mining increased .

Over 800 ambitious and active professionals visited the Javits Center in late July, when the jewelery industry fair, organized by the Gemological Institute of America (GIA), was held there. The event was attended by 44 companies that have hundreds of vacancies, reports Rapaport.
The largest event on attracting human resources was visited by a huge number of people wishing to find work in the jewelry sector, from TV hosts to sellers, designers and manufacturers. The program of the fair included a number of round tables, where well-known experts of the jewelry industry spoke.
"The jewelery industry has been an important part of the culture of all the countries of the world for many centuries, and the success of the current GIA vacancy fair is evidence that the jewelry industry is flourishing and actively developing," said Susan Jacques, President and CEO of GIA.

The authorities of Zimbabwe intend to collect their share of the proceeds from diamond sales immediately after the sale of the goods, without waiting for annual dividends from partners working at the diamond fields in Marange.
As the newspaper The Herald writes, there is a fear that the treasury lost millions of dollars in revenue from previous sales.
The state-owned mining company Zimbabwe Mining Development Corporation (ZMDC) owns a 50 percent stake in Marange diamond mining companies, including Mbada Diamonds, Anjin Investments, Diamond Mining Company, Jinan and Kusena.
Minister of the mining industry Walter Chidhakwa said at a meeting of the parliamentary commission that he agreed with the Ministry of Finance that the payment of royalties and fees for the extraction of resources, as well as the share of profits from diamond sales, should be made immediately after sales.
The Zimbabwe Revenue Authority (ZIMRA) collects 15% of sales from companies, while a 2% charge for depletion of reserves is payable in favor of ZMDC.
"We have developed a scheme that allows us not to expect payment of dividends at the end of the year," Chidakva said. "The revenue section will be made immediately: one share will be transferred to the government account, and the other will be transferred to the partner's account."

The Diamond Development Initiative (DDI), an American charity aimed at improving the living conditions of small individual diamond miners in Africa, announced that it has once again received financial support from Rubel & Ménasché. This Parisian company, which has been supporting DDI since 2012, is a member of the Responsible Jewelery Council and specializes in the wholesale supply of high-quality diamonds.
The contribution of Rubel & Ménasché will provide DDI with support for several projects, including a major initiative in the Democratic Republic of the Congo that will enable the integration of more than 50,000 prospectors into the diamond mining industry.
In Sierra Leone, DDI works with local leaders and civil society to identify areas where diamonds can be extracted in an environmentally sound manner and where prospectors will get a fair price for them, working in a safe environment. The diamonds they harvest will be tracked at the stages of sale, polishing and delivery to retailers, so that end-users receive precious stones that meet the standards of industry ethics and fair trade.
If successful, these projects will revolutionize the future for prospectors and their communities, which are estimated to account for 16% of global diamond production.

The Gem and Jewelery Export Promotion Council of India (GJEPC) announced plans to hold a 2014 Contest and the 2014 Award for Jewelers and Craftsmen (The Artisan Jewelery Design Awards).
GJEPC invites to participate in the competition of famous and young beginners from all over the country who can take advantage of the unique opportunity and present their creations for show. Applications are accepted until August 15, 2014. The award will be dedicated to the 100th anniversary of Indian cinema, and the ambassador of the brand of the Indian jewelry industry, the famous Sonam Kapoor, will take part in the ceremony.
The design contest will be held in four nominations: "Monochrome Era", "Golden Era", "Color Era" and "Avant-garde Era". Within each category, the designers will be shown 4 videos, on the basis of which they will make sketches of works of jewelry art for the first round of tests. Works will be evaluated by a jury consisting of veterans of the jewelry industry, such as fashion jewelry historian Usha Balakrishnan, editor of VOGUE in India Priya Tanna and Ashiesh Shah.

Company Gitanjali Gems Ltd. expects shareholders to approve capital raising of up to $ 28.7 million (1.75 billion rupees) through the issuance of convertible coupons, the report said, sent to the Bombay Stock Exchange (BSE), Rapaport reports.
"The funds will be used to expand our business of selling diamonds and jewelry worldwide," said Managing Director Mehul Choksi.
It is also reported that the company expects a loan approval of up to $ 1.64 billion (Rs. 100 billion).
The portfolio of jewelry brands Gitanjali includes Gili, Naksharta, D'Damas and Asmi. The company has a retail network of over 4,000 outlets in India, and also operates in the US, UK, China, Japan, Europe and South-East Asia.

Pure Grown Diamonds, one of the leading distributors of jewelery-quality diamonds grown in the lab, announced the production of a round brilliant diamond of K grade SI1 purity, weighing 3 carats, marking this as its biggest achievement, the Diamond World portal reported.
Earlier, the company set records, creating an artificial emerald cut diamond weighing 1.29 carats in color E purity VVS2, as well as a cut stone "Princess" color G purity SI1, having a weight of 1.78 carats, as announced in November 2013.
"We are again celebrating the triumph of technology and innovation in growing diamonds," said Lisa Bissell, the new president and CEO of the company. "We are very pleased that we managed to beat our own records and release a diamond weighing three carats."
Pure Grown Diamonds was founded in 2013 under the name Gemesis Inc. The company is based in New York and is the main distributor of diamonds of jewelry quality type IIA grown in the laboratory and jewelry with colored and colorless diamonds.

OGI Group has agreed to acquire a 50.7 percent stake in the diamond-bearing licensed area in Mozambique, which is located downstream of the Save River from the Rio Tinto Murowa mine and the Marange diamond fields in Zimbabwe.
Proactive Investors portal informs that within the framework of the transaction OGI Group will conclude an agreement on the repayment of a 78% share of the share capital of Save River Diamonds from current shareholders of this company. This will give OGI control over 50.7% of the portion of the License Lot 4969L, as well as the pre-emptive right to purchase a 51.1 percent share in the 4525L License Area.
As part of the deal, OGI Group planned to raise capital from $ 3.5 million to $ 6 million. The minimum amount of $ 3.5 million will be received from Novus Capital, which confirmed its willingness to provide support for the acquisition and financing of the project, the report said Proactive Investors.
OGI wanted to change its name, because now the company will focus its activities on exploration and mining of diamonds.

Over the past month, prices for certified diamonds have fallen. Margins of profit in the production of diamonds remained under pressure, as trade in diamonds slowed during the calm season, prices sagged, but prices for rough diamonds remained at a high level, Rapaport said in a press release.
The price index for diamonds RapNet Diamond Index (RAPI) for stones weighing 1 carat decreased during the reporting month by 2.4%. RAPI with respect to certified diamonds weighing 0.30 carats fell by 1.3%, and diamonds weighing 0.50 carats slightly increased by 0.3%. RAPI for diamonds weighing 3 carats fell in July by 0.5%.
As the July Rapaport report called Sluggish Trading says, in the United States and the far east there is a strong demand for commercial grade diamonds weighing less than 1 carat in the SI-I2 purity range and GM color.
There is a high demand for diamonds weighing 0.3-05 carats GM, purity VS2-I2, and there was a deficit in this category of products on the market. Many New York and Antwerp dealers in July went on vacation, which determined a further reduction in trade turnover. Some Indian diamond manufacturers have lowered prices for 1-carat diamonds due to low demand, overstocking of this market segment and the need to ensure the inflow of cash.
The results of the Indian International Jewelery Show (IIJS) were quite weak for diamond suppliers, but there is evidence of stability in India's domestic demand for jewelry and improving sentiment ahead of the October season of Diwali. Limited liquidity and the desire of buyers to purchase polished diamonds for the fulfillment of orders received, rather than replenishment of stocks, are noted.

Namdeb, a joint venture of the Namibian government and De Beers, intends to extend the life of diamond mines located in the South African country.
Bloomberg agency quoted the statement of Namdeb General Manager Riaan Burger that the company intends to conduct diamond mining at the Elizabeth Bay, Southern Coastal and Daberasup mines until 2035. Recently, Namdeb mining licenses were extended for 15 years.
"We can extend the period of validity of the license and the period of development of concessions if we correctly allocate costs. When optimizing new technologies, I'm sure we will be able to achieve even better results, "Berger said.
In 2013, Namdeb received about 600,000 carats of diamonds on the ground diamond deposits, while the development of marine concessions gave it 1.16 million carats, reports Bloomberg.
In the meantime, Namgeb CEO Inge Zaamwani-Kamwi told reporters that her company is losing 1,600 carats per day from planned production due to a workers strike that began last Friday.
Namdeb employees demand a 15% wage increase and additional education and medical care benefits. Namdeb could raise wages by 10%, but the union rejected this offer.

President of the International Diamond Manufacturers' Association (IDMA) Maxim Shkadov, world-famous Italian designer and jewelry manufacturer Roberto Coin, President of the Israeli Diamond Exchange (IDE) Shmuel Schnitzer and President of the Diamond Dealers Club of New York (DDC) Reuven Kaufman (Reuven Kaufman) joined the board of directors of the Panama Diamond Exchange (Panama Diamond Exchange), the organization's press service reported.
"We are pleased to welcome a number of people of this scale with impressive experience and business acumen in the board of directors of the Panama Diamond Exchange. We are confident that they will make a significant contribution to the positioning of Panama as the main center of jewelry trade in Latin America, "said PDI's founding chairman, Eli Izhakoff. "They will not only share the wealth of knowledge about international diamond and jewelry markets, but their very participation in the mission of our stock exchange carries an important message to the whole world."
Four new directors will join the other industry leaders participating in the board of directors of the exchange. Among them are President of the World Federation of Diamond Exchanges (WFDB) Ernest Blom, President of the World Jewelery Confederation (CIBJO) Gaetano Cavalieri and former President of the World Diamond Council (WDC), WFDB and IDE Honorary President Avi Paz Avi Paz).
The PDE-led project to create a $ 200 million Panama Gem & Jewelry Center (Panama Gem & Jewelry Center) is the largest and most ambitious initiative ever undertaken in the interests of Latin American jewelry trade. The center will serve as a trading platform for local and international companies on the market, which today is estimated at $ 8 billion and has 11,500 retail outlets in 20 countries and 23 islands.

"The acquisition of this huge high-quality white diamond again confirms the reputation of the Letseng mine as the world's most important source of large diamonds of exceptional quality," said Clifford Elphick, CEO of the company.
Gem Diamonds owns a 70 percent stake in the Letseng mine, which is known for discoveries of large exceptional white diamonds, and is a kimberlite diamond mine with the world's highest average carat cost per carat.
After the acquisition of Letsseng in 2006, Gem Diamonds produced four of the world's twenty largest diamonds of jewelry quality at the mine.

Gem Diamonds announced the discovery of an exceptional white diamond type IIa, weighing 198 carats, at the Letšeng mine in Lesotho. The diamond was mined in late July.
In a short message from Gem Diamonds, received by Rough & Polished via e-mail, it is said that this high-quality stone does not have fluorescence.
Gem Diamonds expects that the 198-carat diamond will be sold at an exceptionally high price later this year.

Tiffany & Co. recently published an annual report on corporate responsibility for 2013, which provides information on the company's initiatives in the field of environmental protection and social responsibility, Rapaport reports.
"The report details our great contribution to building socially and environmentally responsible business practices," said Tiffany & Co. CEO. Michael J. Kowalski. "As a leader in the jewelry industry, we believe that expanding social commitments and supporting responsible business throughout the jewelry supply chain is both a market demand and a moral obligation."
Tiffany & Co. pays great attention to the responsible extraction and supply of raw materials and materials - from diamonds and gold to the legendary blue boxes for the packaging of goods and bags.
Tiffany & Co. will coordinate its business processes with the standards of the Global Reporting Initiative (GRI) G4 "In Accordance - Core" and the UN Global Compact reporting system.
In the framework of the Initiative for Responsible Mining Assurance (IRMA), the jewelry company participated in the development of the world-wide recognized production standard. A pilot version of this document is expected to be released in 2015.
Tiffany & Co. invests in diamond-producing countries and is able to maintain the integrity of the supply chain, creating jobs, training staff, providing benefits and stimulating the growth of local economies, the report said.
"We adhered to an innovative approach to procurement, forming chains of direct supplies of diamonds and precious metals from mines," Kowalski said.
In 2013, the company's board of directors adopted the Conflict Minerals Policy, which establishes the principles of responsible gold mining for metal sellers.
As for the production of packaging materials, the blue Tiffany boxes are made from recycled paper and certified by the Forest Stewardship Council.
Tiffany & Co. has set itself the goal of reducing greenhouse gas emissions by 15% between 2013 and 2020.
In 2013, Tiffany & Co. made charitable donations in the amount of 2% of profit before tax.

Dhamani premium jewelry house opened a Dhamani store in 1969 at the Dubai Mall.
Founded in 1969, the jewelry house has a deep understanding of the value and cultural significance of jewelry in the modern world. The assortment of Dhamani 1969 will satisfy the demand of lovers of luxury from around the world.
Dhamani General and Managing Director Amit Dhamani said: "For 45 years, we have enriched our heritage and developed first-class skills to satisfy international buyers. Jewelry House Dhamani has always used in its adornments the most brilliant and shiny gemstones of excellent cutting, obtained with ethical standards. We are very proud of the opening of the first in the UAE boutique Dhamani 1969 in Dubai. "
Speaking at the opening ceremony of Dhamani in 1969, Ahmed Bin Sulayem, executive chairman of the Dubai Multi-Commodities Center (DMCC), said that Dhamani had become one of the first companies to operate in the DMCC free trade zone, and since then she experienced phenomenal growth. Sulayem added that Dhamani is one of the key players in the luxury goods market in the UAE.

Equity Communications said that the traditional largest diamond consumption market - the US - will retain its position for a considerable period of time, although in the Asia-Pacific region tendencies and preferences in the consumption of various categories of luxury goods are formed.
In 2013, the United States was the world's largest market for polished diamonds, accounting for 44.3% of total polished consumption.
In a message received by Rough & Polished via e-mail, it is said that world sales of diamond jewelry last year reached $ 73.8 billion.
Sales of diamond jewelry in the US in 2013 increased by $ 2.5 billion, to $ 32.7 billion, up 8.3% over 2012. Meanwhile, in China sales jumped 19% year on year to $ 6 billion.
On Equity data, the EU was the only region where the negative trend and the decline in sales observed in the previous year by 0.11% to $ 5.2 billion.
"In the difference from Japan, where retailers adjusted the range of products in order to keep sales, there is no tendency in the US market to reduce the quality of diamonds sold, "Equity reports. - American consumers consider high-quality diamonds weighing from 0.5 to 1 carat standard inserts for engagement rings and do not agree to stones of smaller size or lower quality. "
However, the fact that diamonds for engagement rings has risen in price, more consumers need financial help to make such purchases, notes Equity.

Geologists have discovered a large gold deposit located in the Xinjiang Uygur Autonomous Region in the northwest of China, near the border with Kyrgyzstan, the Chinese news agency Xinhua reports. According to experts, confirmed gold reserves in the new field are estimated at 127 tons, and their cost is almost $ 6.5 billion. The 
Xinjiang Bureau of Geology and Mineral Exploration spent twenty years searching for deposits in the area. This is the largest gold deposit discovered in Xinjiang over the past two decades.
"It is very likely that the mine's total reserves will exceed 200 tons," said Cui Hongbin, the head of the intelligence team.
He also noted that this opening will not only increase gold production in the PRC, which reached 211 tons in the first half of 2014, but will also bring income and employment to the local population.
The opening of the new field attracted attention of the main mining companies of China, which already expressed interest in the joint development of this mine.

The Gemmological Institute of India (GII) recently installed a machine for automatic scanning of "mele" diamonds at the Diamond Detection and Resource Center (DDRC), located on the Indian Diamond Exchange (BDB). The ceremonial launch of the car was led by the leaders of the Indian jewelry industry - BDB President Anouop V. Mehta and a representative of Rosy Blue (India) Pvt. Ltd. Arunkumar Mehta.
On this occasion, Vipul Shah, Chairman of the Indian Council for the Promotion of the Export of Gemstones and Jewelry (GJEPC), said: "We are pleased that now, with the help of automatic diamond scanning (AMS) devices, it is possible to quickly and effectively identify synthetic stones in lots of natural diamonds weighing from 0.01 to 0.2 carats. This is in line with the market demand for fine diamond research equipment, which is affordable and has high productivity, which will provide huge benefits to the Indian industry. DDRC will enable all traders who do not have the means to purchase equipment, use this machine and scan their lots of diamonds at an affordable price. This is a tangible support for the entire diamond industry. "
The Shah added: "I am pleased to report that the GII has committed itself to education and training of the general public, relieving consumers of fears of artificial diamonds, and held a series of seminars in Surat, Mumbai, Coimbatore and Cambay, planning seminars in other centers" .
Over the past six months, DDRC has been researching all parties of diamonds in order to identify synthetic diamonds.

Taiwan Jewelery & Gem Fair will be held from November 21 to 24, 2014 in Taipei World Trade Center, Taipei World Trade Center, Rapaport reports. According to the organizers of the fair, UBM Asia Ltd., this year, the event will feature a separate section of designer jewelry (Designers' Area), and it will feature 40 outstanding jewelry designers, among them Chin-Tiao Shih (Chin-Tiao Shih ) from Atlen Jewelry Co., Wang Yueh Yaw, who creates jewelery with diamonds and jadeite from 18-carat gold, Judie Ma from Dynasty Artistic Jewelery Co. Ltd. and Chun Ting Chang (Chun Ting Chang), who introduced a traditional bracelet from jadeite in the form of a watch.
The jewelery fair in b2b format, designed for the interaction of companies, organizes groups of exhibitors in several national pavilions for countries such as Taiwan, India, Israel, Japan, Hong Kong, Germany, Italy, Sri Lanka, Singapore, Thailand and the USA, and section of uncorrected diamonds, jewelry made of precious metals and other exclusive goods.

US jewelry and watch sales in June 2014 showed an increase of 3.4% on a year-on-year basis, according to preliminary government figures referenced by Rapaport. The growth of this sector in the first half of 2014 was revised downwards: in January, February, March and April, sales growth was less than 3%, and in May, growth was registered at 3.7%.
According to Rapaport, jewelry sales in June increased by 3.3% to $ 4.866 billion, while sales of watches grew by 3.6% to $ 666.3 million.
Meanwhile, jewelery sales in the first half of 2013 increased by 2.3% compared with the same period last year and amounted to $ 30.323 billion, and sales of watches for this period increased by 1.4% to $ 4.134 billion.

Indian diamantaires, based in Antwerp, Mumbai, Surat and Hong Kong, are concerned about reports of the bankruptcy of three or four companies in China, Hong Kong and Tokyo. According to some information, these companies have not paid Indian traders debts totaling 18 billion rupees. In addition, the financial position of at least six other firms can be called unsustainable, the Times of India said.
Indian diamantaires from Surat, Mumbai and the Hong Kong-based firms involved in the supply of diamonds began to panic.
Warnings of market participants about bankruptcies and weak financial position of Hong Kong companies can serve as an omen of huge losses of diamond traders.
India annually exports diamonds worth about $ 28 billion, of which about $ 8 billion is exported to Hong Kong. World gold prices in 2014 fell sharply compared to the previous year. This could cause the bankruptcy of jewelry companies that could not survive in the current market conditions.
Vipul Shah, Chairman of the Gems and Jewelery Export Promotion Council (GJEPC), said: "Reports of the bankruptcy of jewelry companies in China and Hong Kong with the speed of lightning spread across the market. However, we still have not received any official information on this matter. "

Customers from around the world who arrive at the International Diamond Week in Israel (IDW), organized on September 1-4 on the premises of the Israeli Diamond Exchange (IDE), will be presented products from 325 diamond companies in Israel.
"We have completed work on compiling a list of IDE members participating in this event. But we continue to register diamond buyers, and as the number of hotel rooms is limited, we encourage interested buyers to register as soon as possible, "warned IDE general manager Moti Besser.
IDW is a trade event organized by the joint efforts of three of the world's largest diamond exchanges: the IDE, the Diamond Dealers Club of New York (DDC) and the Antwerp Diamond Bourse. "The number of participants in the event of members of DDC and the Antwerp Diamond Bourse continued to rise, and therefore, it may well become the largest Diamond Weeks history of the project since the beginning of 2013", - the president of IDE Shmuel Schnitzer said (Shmuel Schnitzer).
Within the framework of the Israel Diamond week auction of exclusive diamonds Rapaport Group will be organized, the IDE press service reported.

US polished imports rose 3.6% in June to $ 1.619 billion, while the average price of imported stones jumped 26% to $ 2,094 per carat, Rapaport reported. In the meantime, polished exports from the USA in June 2014 jumped by 15.1% to a record $ 2.941 billion, as a result, the import deficit reached a record of $ 1.321 billion, significantly exceeding the deficit of $ 993 million registered a year earlier.
The statistics of trade in diamonds in May and June usually reflect the activity at the JCK show, but since June 2011, polished imports after the fair have shown increasingly high deficits.
US rough diamond imports jumped 80% to $ 36 million in June, while diamond exports fell 48.1% to $ 14 million, thus the net import of diamonds was $ 22 million, compared with a negative figure of $ 7 million for the same month last year.
The net US diamond account for June (the difference between net imports and exports of diamonds and diamonds) was negative at $ 1.299 billion (a record high for a single month).
In the first half of 2014, US polished imports rose 5.3% year-on-year to $ 12.212 billion; diamond exports jumped 13.6% to $ 11.49 billion, indicating a decrease in net polished imports by 51.2% to $ 723 million. Imports of rough diamonds rose 72.6% to $ 366 million, while diamond exports jumped 81, 8% to $ 249 million. Net imports of diamonds increased by 56.8% to $ 116 million, resulting in a net diamond account for the period of $ 839 million compared to $ 1,555 billion in the same period last year.

Online diamond and jewelery retailer Blue Nile recorded a 1.3% decrease in revenue from sales, up to $ 106.6 million in the second quarter ended June 29, Rapaport reported. The cost of sales for the reporting period decreased by 1.7% to $ 86.4 million. Blue Nile's profit decreased 1.6% on a year-on-year basis, to $ 2.2 million, equivalent to 18 cents per share.
Sales of engagement jewelry in the US in the second quarter fell by 4.6% to $ 60.9 million, while sales of other products increased by 2.6% to $ 27.7 million.
International sales of the company showed an increase of 4.8% to $ 18 million, and without taking into account currency fluctuations, growth is estimated at 6.7%. The value of the commodity stocks of Blue Nile decreased by almost 7% compared to the same period last year to $ 32.1 million.
"Our results for the second quarter were significantly influenced by the situation on the diamond market and the dynamics of prices. As a result, we have changed product prices to ensure that Blue Nile customers benefit from the purchase, "said Harvey Kanter, chairman and CEO of the company. "After these changes, we expect that sales will start to grow again, and when the prices for diamonds are normalized, we are counting on even greater profits from attracting customers."

Botswana Diamonds said it planned to begin drilling operations in the PL117 / 2011 licensed area in September in the Orapa district of Botswana. Drilling will be performed at two selected facilities - AN117 / 1 and AN117 / 2, located in the northern part of the small block with a total area of ​​2.9 square meters. km.
The drilling objects identified in recent work by Sunland Minerals, a joint venture between Russian ALROSA and Botswana Diamonds in equal shares, are considered promising for the detection of kimberlite bodies.
The depth of the test drilling will be 100 m, and after studying the rocks in Botswana, the samples will be sent for analysis to St. Petersburg.
Botswana Diamonds said that two wells will be made within the AN117 / 2 mineralogical and geophysical anomaly, and drilling of three wells is planned for mineralogical anomaly AN117 / 1.
In September, additional geophysical surveys will be conducted at these sites.
"Our joint venture Sunland with ALROSA, the world's largest diamond producer, has stepped up its activities," said John Teeling, Chairman of Botswana Diamonds. - In September, we plan to drill wells on each of the two promising anomalies within the PL117 block in the Orapa area. These will be test wells aimed at identifying kimberlites. "