Glittering Stones News,Diamonds news,Gems and jewelry news

In the last three months of 2009, according to the centralized Ministry of Finance in Moscow, Russia exported about 250,000 carats of rough diamonds, shaped by Alrosa, to the west African republic of Guinea. There is no known diamond cutting or polishing facility in Guinea, and Russia has in no way exported diamonds to Guinea before. However, dishonest sales of diamonds have been reported as using Guinea as a transit point between the mines in Africa and the markets in Israel, Europe, the US, or elsewhere.

The Finance Ministry in Moscow supervises the diamond division and the state stockpile; its minister, Alexei Kudrin, is chairman of the board of Alrosa. The ministry is also in charge of monitoring fulfillment with the Kimberley Process for certificating diamond trading that does not involve diamonds mined illegally. As part of Russia’s compliance, the ministry issues regular reports on Russian exports.

The hottest report covers 2009. It indicates that a total of 14.708 million carats were exported, for a declared value of $1.229 billion. Approximately all of these stones were sold by Alrosa. Alrosa also sold 14 million carats of its production to the state store agency, Gokhran, during the year.

The impact of the autumn 2008 global financial crisis shows in the near-halt of diamond exports from Russia in the first quarter. Just 135,597 carats were exported, according to the Finance Ministry report, worth $724,000. Compared to the same quarter of 2008, when shipments of 6,649,000 carats were recorded, in volume terms the export flow fell 49 times.

In the second quarter of 2009, Russia reports exporting 2,713,000 carats, at a value of approximately $30 million. Most of the deal went to Belgium (2,016,000 carats), followed by Israel (253,658 carats).

In the third quarter, as Alrosa’s marketing found new buyers, growing demand, and rising prices, the exports reached 5,334,000 carats, worth $540.9 million. In the fourth sector, the export volume rose again to 6,525,000 carats, at a value of 656 million. Belgium accounted for 73% of the goods and India for 19%.

The diamond market has improved from the global decline, according to Petra Diamonds, with prices close to the level they were in June 2008. And the Petra’s sales income rose 88 per cent to $177.7 million in June 2010 compared to $94.4 million in June 2009 due to the extension of the recovery in rough diamond process and enlarged group production. Gross production rose six per cent to 1.165 million carats at the same time as diamond sales rose 11 per cent to 1.125 million. The compact has a momentous stake (about 75 per cent) in Tanzania’s Williamson diamond mine. The rest (about 25 per cent) is held by the Tanzanian Government.

According to the firm’s website the Williamson mine, based in Mwadui, Shinyanga region posted an inspiring revenue sales increase of 53 per cent in the year ending June 2010 to $14.4 million from $9.4 million in the same period in 2009. Diamonds shaped increased by 20 per cent to 101,071 carats from 84,486 carats in June 2009. Diamond sold improved by 22 per cent to 91,901 carats in June 2010 from 75,045 carats. The average price was $157 per carat in the year finish June 2010 up from $126 per carat in the year ending June 2009.

As prices fell in the economic year 2008/09 the Tanzania government exempted all gemstones mining companies, including Petra Diamonds from paying royalties. The country charges about five per cent royalty for gemstones. Petra said, in spite of recovery the market landscape has changed – possibly forever. Previously, the US was the world’s most important market for gems, but Asia is now attractive more important to the production.

Asia is “more than taking up the relaxed from the US,” according to Mr Johan Dippenaar, Petra’s chief executive. Evidence of China‘s new significance was seen by the new purchase of the outstanding 507 carat Cullinan Heritage diamond for $35.3 million (£23.3 million) by Chow Tai Fook, a leading Chinese jeweller. The Cullinan mine shaped a more seven stones over the year to June 30 that were sold for in overload of $1 million each.

The group thinks that price of irregular diamonds may ease lower over coming months, before increasing towards the Christmas period. Petra Diamonds is a leading supplier of rough diamonds, with a major reserve base of 262 million carats. The mine frequently produces large, high-quality stones and is a resource of rare and exceptionally valuable fancy pink diamonds.

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How can customers tell when a gemstone is real and whether they are paying a fair price?

president of Craig Coyne and graduate gemologist Mr. Sam Coyne said, First, the gem must be identified, a process best left to a certified. potential buyers would do well to visit the Gemological Institute of America’s website and locate a Graduate Gemologist (GG) who has been expansively trained to differentiate and evaluate the quality of authentic, synthetic, and imitation gemstones.

After a gemstone has been genuine and evaluated, a jewelry appraiser can evaluate its price or value. A good appraiser looks at all fitting factors that affect value, not just identity and quality. Supply and demand, for occasion, impact the price. People can also reduce their risk by changing their focus to the person selling the gem, learning all they can about the seller through such organizations as the Better Business department, the American Gem Trade Association, or the National Association of Jewelry Appraisers.

By communication with professionals and doing some research, those in the market for a gemstone can buy with some assurance.

MUMBAI: Gitanjali Gems  premium diamond jewellery brand Gili plans to enlarge its retail network in smaller towns constant as it eyes a 50 per cent top-line growth this fiscal, a top company official said. The official said, Gili the wholly-owned additional of Gitanjali Gems, it is looking at opening 31 stores this economic at an investment of Rs 200 crore.

“We are looking at escalating our store network to 50 this financial. At present, we have 19 EBOs as well 400 shop-in-shops. Our focal point will be on Tier II and III cities as the growth is coming in from there, Gili CEO Rahul Vira told PTI here on Wednesday. The demand for diamond jewellery has better multiple in the last two years due to spiralling prices of gold, said by Vira. adding that conservation has increased in smaller markets following a rise in income and spending competence.

On sales, Vira said that the company is eyeing a 50 per cent growth this monetary.

“Diamonds give good restrictions and with a possible rise in prices this year, we expect good sales. Diamonds are still cashable. The company’s revenues in FY’10 stood at Rs 428 crore. The company is also investing largely on marketing actions and advertising, Vira said, adding that Gili alone invests around Rs 15-20 crore on such tricks once a year.

“People have become more brand aware today, and we are looking at linking with people through their favourite celebrities. We are expenses Rs 15-20 crore every year on advertisements and campaigns.