Glittering Stones News,Diamonds news,Gems and jewelry news

The Harry Oppenheimer Diamond Museum, in the heart of the Israeli diamond complex, is set to play crowd to the new And thou Shalt Breathe Life Into a Gem exhibition this September. The exhibition will feature jewellery, cameos and artefacts all stamped from gemstones based on the work of master carvers in Idar-Oberstein, Germany, and is the effect of cooperation with the Deutsches Edelsteinmuseum there. It is offered under the auspices of Dr. Harald Kindermann, Ambassador of the Federal Republic of Germany to the State of Israel.

Comprising around 150 items, And thou Shalt Breathe Life interested in a Gem is valued at approximately one million dollars. It includes animals, human figures, flowers, fruits and sweets from a wide variety of gemstones including: agate, carnelian, tourmaline, amethyst, quartz, rose quartz, chalcedony, onyx, ruby emeralds and sapphires.

Shmuel Schnitzer, Chairman of the Harry Oppenheimer Diamond Museum, said that this exhibition is part of the hard work of the Israeli Diamond Industry to broaden the areas of interest of the diamond community and the general public. He explains: “In this Carved gemstones are part of the crown jewels worldwide. They are most preferred items in prestigious jewellery shops and serve as an artistic expression for jewellers who wish to be regarded as artists of small sculpture.”

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.

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.

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China is the best place to go. This is the new motto of India’s diamond jewellery majors. Even though the China Govt. Last year arrested around 30 Indian diamond traders, mostly from Surat, the tempt of business is forcing Indian diamond jewelers to rush to the socialist land. In the past some days several Indian companies have set up shop there, which helped them rush over the fall in demand from the US market due to economic downturn.

Another reason is driving Indian diamond jewellery firms to go to China is that the International Monetary Fund (IMF) predicted a 10.5 per cent financial growth for China in 2010. That means people in China will have lots of money to expend in the coming years. So, Indian diamond traders are locating up shop in China to big business from the dragon land. The newest to join this rush is Gitanjali Gems, which has announced plans for a venture into China. The investment fund is $3.5 million.

Gitanjali is situates to open 550 stores in India by the end of the economic year, as it seeks to push demand here. The jewelry exporter also announced plans to spend $85 million in the next 18 months to enlarge its retail business in India and the overseas markets. Demand for gold jewels studded with diamonds was rising at 15% to 25% for the last three years in China. India, the world’s main purchaser of gold, financial records for over 20% of global demand. The company feels that Chinese consumers need to be broken in the same manner as Indians. Earlier, platinum metal was the hero. Now, the amount of the diamond market in China is almost double that of India.