Market Comments 4/10/2009

DTC March sight estimated at $200 mil. with pickup in demand and prices for rough diamonds. De Beers cuts DRC exploration and significantly reduces London staff. ALROSA to sell $500 mil. in rough to 15 Antwerp firms in ’09. S&P suspends credit rating for ALROSA citing lack of disclosure of financial information. Hong Kong Jan./Feb. jewelry sales -3% with total retail -2% to $6.2 bil. Sotheby’s H…
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Fine Jewelry Online Retailer Blue Nile Launches Redesigned Website

One of the world’s leading online retailers of diamonds and fine jewelry, Blue Nile, has announced the launch of a redesigned Blue Nile website (www.bluenile.com). The diamond jewelry online retailer stated that the revamped website offers new innovative features, enhanced product visualization, larger images, expanded product detail, and new ways to view products. Blue Nile CEO […]

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Man Finds His Wedding Ring At The Bottom Of A Harbor

How far would you go for love? For a New Zealand local the answer was ‘very far’. After dropping his wedding ring to the bottom of Wellington Harbor, Aleki Taumoepeau, swore to his new bride that he would retrieve the sunken treasure… that was 16 months ago. The NIWA ecologist was scouring the harbor for invasive plant species last March when the ring slipped from his finger. He quickly threw an anchor overboard in an attempt to mark the loose whereabouts of the band. He swore to his wife of three months, Rachel, that he would find the token of their bliss. Describing the incident, Rachel said “It flew off into the air and everyone on the boat was looking at it and said it was like a scene from Lord of the Rings in slow motion.” Three months after the incident Aleki Taumoepeau was on the hunt for the ring, but the quest proved to be unsuccessful. Thankfully, Aleki was back on the scene recently for another attempt.

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Diamond Giant Alrosa Plans $2 Billion in Diamond Sales in 2009

Diamond Giant Alrosa intends to sell $2 billion worth of diamonds in 2009, according to the new president of Russia’s biggest diamond producer, Fyodor Andryev. Andreyev, who replaced former Alrosa CEO Sergei Vybornov earlier this month, stated that the diamond company intends to fulfill its $2 billion plan for diamond sales in 2009, and that the […]

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Botswana: De Beers in 99 Percent Loss As Diamonds Lose Their Glitter

The world’s largest diamond producer, De Beers, has reported a 99-percent drop in net profits for the first half of 2009 to just $3 million after demand for luxury goods was hard hit by the global recession. The diamond giant, which has a 50/50 partnership with Government in Debswana, made $316 million in the same period […]

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