> Jewelers Throw Parties, Get Publicity at 80th Annual
Oscars Awards
Hollywood has been abuzz with activity preceding the 80th annual Academy Awards to take place, as scheduled, Sunday evening in Los Angeles (February 24, 2008)
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> Blue Nile Posts 23.3% Leap in Sales, Names New CEO
Online diamond jewelry retailer Blue Nile posted fantastic fourth quarter and annual fiscal results, with net sales growing 23.3 percent to $111.9 million and net income totaling $7.5 million, an increase of 31.1 percent, in the fourth quarter. Its full year net sales of $319.3 million were an increase of 26.9 percent from fiscal 2006. |
| (February 13, 2008) |
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> IDEX Online Research: Challenges 2008- Online Jewelers Poised to Change the Industry
> It’s not the online shopping experience that worries us. For many reasons, we believe that shoppers worldwide will continue to do most of their shopping in bricks-and-mortar stores. What worries us is the financial model that online jewelry merchants have developed.
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| (February 21, 2008) |
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> SA Competition Commission Approves Cullinan Sale to Petra Consortium
Petra Diamonds announced that the South African Competition Commission has approved the acquisition of the Cullinan Diamond Mine by the Petra Diamonds Cullinan Consortium (PDCC) from De Beers Consolidated Mines.
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| (February 19, 2008) |
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> GIA South Africa to Open
GIA South Africa, the Gemological Institute of America’s new laboratory in Johannesburg, will open officially, on February 21. The lab will provide GIA Diamond Dossiers, which will cover stones from 0.15 carats up to 1.99 carats, and is also introducing a new GIA Diamond Fee Schedule, reflecting current fees as converted to the South African currency.
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| (February 17, 2008) |
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> SA Budget Allocates $26.5 Million to Alexkor Over Three Years
Alexkor, the South African government-managed diamond mine, will be allocated R206 million ($26.46 million) in the 2008 budget to “establish a viable mining operation.” The money is to be used only for Alexkor’s coastal operations, where a decade-old land claim battle was recently settled.
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| (February 21, 2008) |
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> Angola’s 2007 Production Inches Up to 9.7 Mln Carats
> Angola’s diamond production in 2007 totaled 9.7 million carats, of which 8.6 million carats were from the formal sector. Another 1.1 million carats were mined by artisanal producers. In 2006, the country produced 9.4 million carats.
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| (February 20, 2008) |
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> Steinmetz Polishing Facility Opens in Botswana
A 54 million pula ($8.374 million) Steinmetz Diamond factory opened last week in Botswana. The facility will employ 220 workers and will be a part of a future, comprehensive Diamond Technology Park, according to Botswanan President
Festus Mogae.
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| (February 12, 2008) |
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