News
Signet Makes $50.9 million Note Prepayment
Signet Jewelers has made a $50.9 million prepayment to its note holders, the specialty retail jeweler announced Tuesday. The payment was made in accordance with its note purchase agreement as amended on March 18, 2009.
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Strong Sales at Hong Kong Jewelry Show
The Hong Kong International Jewellery Show closed Tuesday after a busy few days, an additional indication of a revival in the gem and jewelry industry after the Great Recession of 2008-09. Exhibitors at the show reported strong sales to Asian and American buyers.
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Bidz.com Revenues Drop to $27.5 Million in Q4 2009
Online jewelry retailer Bidz.com reported net fourth quarter revenues of $27.5 million, a drop from the $35.1 million in the fourth quarter of 2008. Bidz’s revenues for the year ending December 31, 2009 were $110.4 million, compared with $207.4 million in 2008.
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Canada’s Diamond Bourse to be Fully Operational by End of March
The Diamond Bourse of Canada will be fully operational by the end March, the Bourse announced Tuesday. Since the official opening of Canada’s first diamond exchange in January, its management and staff have been preparing a set of services that will be offered to members from the bourse’s downtown Toronto location.
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Worldwide Security Network Offers Services at MJSA
Worldwide Security Network will offer a free private security consultation to jewelers at the upcoming the MJSA Show, the company announced Monday. WorldWide Security will offer information on new security devices, procedures and valuable life saving tips will to jewelers at high risk of armed robbery, assault, and homicide.
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GIA to Expand Middle East Course Offerings
The Gemological Institute of America (GIA) is looking to offer more classes throughout the Middle East. In addition to the classes it currently offers in Bahrain and Dubai, the GIA will soon expand its course offerings in the Saudi Arabia and Kuwait.
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Pangea DiamondFields Sells Dimbi Project, Exits CAR
Pangea DiamondFields has decided to sell Dimbi Diamonds SAU, the holding company for the Dimbi project in the Central African Republic, to a senior employee, the company announced Tuesday. In the deal, Pangea is selling the subsidiary for $500,000 and will receive 5 percent royalty payments based on future gross sales.
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Bangkok Fair Showcases Thailand’s Gem & Jewelry Industry
The 45th edition of the Bangkok Gems & Jewelry Fair concluded on Tuesday. The fair, held under the concept of “The Power of Nature: The Power of Gems and Jewellery” featured a rich variety of diamonds, colored precious and semi precious gems, pearls, and created gems from 1,300 exhibitors from Thailand and around the world.
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Family of Indian Diamantaire Abducted in Antwerp
The wife and children of Pankaj Maldar, an owner of the Indian-based diamond company Karp Impex NV, were taken hostage Friday at their residence in Antwerp by a gun-wielding gang, the Times of India has reported.
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CHURCHILL BULK SAMPLE RESULTS – STORNOWAY DIAMOND CORPORATION and SHEAR MINERALS LTD.
Shear Minerals and Stornoway Diamond announced that processing of the mini bulk sample from the Notch kimberlite at the Churchill Diamond Project in Nunavut is complete with an overall diamond recovery of 0.862 carats per tonne (cpt). A total of 129 diamonds greater than 1.18 mm were recovered from 17.26 dry tonnes of Notch kimberlite. [...]
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