The American Gem Society Laboratories (AGSL) and the Rapaport Group entered into an agreement in which Rapaport Services LLC will represent AGSL in the global marketplace. Rapaport offices worldwide will accept diamonds for grading by AGSL and provide clients with logistical and customer support services.
Beginning April 4, 2011, Rapaport offices in Mumbai, Surat, Antwerp and Ramat Gan will provide increased access to AGSL services. Extensive customer support services will include take-in windows, consolidated shipping, insurance, local currency billing and technical seminars for cutters. For more information, visit www.agslab-at-diamonds.net.
110-Carat Yellow Diamond on View in London
The Cora Sun-Drop, the world’s largest pear-shaped fancy vivid yellow diamond, has gone on display at the Natural History Museum in London. The 110-carat yellow diamond is on loan from diamantaire Cora International.
Mined in Africa, the Sun-Drop required six months to cut. Suzette Gomes, Cora International’s chief executive officer (CEO), noted the stone’s “very strong” color lent itself to a pear shape. Given the rarity of the stone, pricing has not yet been determined.
The Sun-Drop is on view for a limited time at the museum in The Vault, a gallery that houses some of the world’s most valuable gems. Alan Hart, minerals curator, told BBC News, “I’ve never seen a stone such as this…you can see how exceptional the diamond is.”
Forevermark U.S. Names Executive Team
De Beers diamond brand Forevermark appointed its core management team for the U.S. and confirmed 11 Forevermark Diamantaires as it prepares for its U.S. launch. Charles Stanley, president of Forevermark U.S. Inc., will lead a team that includes Sally Morrison, chief marketing officer (CMO); Colby Shergalis, vice president of marketing; Emmy Kondo, director of strategic planning; Lisa Cochin, director of partner relations; Jamie Cadwell, director of public relations and Kevin Lane, vice president of sales.
Meetings with potential U.S. Forevermark retailers are underway, with the aim of establishing a nationwide distribution network through select retail partners. Authorized Forevermark Jewelers will be supplied by a group of diamantaires that currently includes Crossworks, Dali-Alink, Diarough, Eurostar, Julius Klein, Leo Schachter, Pluczenik, Premier Gem, Rosy Blue, Trau and Venus Jewel.
“We believe in the value of the Forevermark promise and what it offers consumers –120 years of expertise is being brought to bear in the selection of a Forevermark diamond, ensuring the promise that each and every Forevermark diamond is beautiful, rare and founded in trust,” said Stanley.
Industry Coalition Comments to the SEC
Jewelers of America (JA), the Jewelers Vigilance Committee (JVC), the American Gem Society (AGS), the Manufacturing Jewelers & Suppliers of America (MJSA) and the Fashion Jewelry and Accessories Trade Association (FJATA) have jointly submitted comments to the Securities and Exchange Commission (SEC) regarding its proposed rules for the implementation of the conflict minerals provisions in the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Under the law, companies that already file annual reports with the SEC will have to disclose whether or not their products contain conflict minerals, including gold or tungsten, from the Democratic Republic of the Congo (DRC) or adjoining countries. Under the SEC’s proposed rules, scheduled to go into effect on April 15, 2011, companies would be required to submit reports that describe their due diligence measures. For those companies that source from the DRC or adjoining countries, the reports would be independently audited, filed with the SEC and posted on the company’s website.
Botswana Diamonds Gets License in Cameroon
Botswana Diamonds has been awarded a 3,122 square-mile diamond exploration reconnaissance license in Cameroon. It holds 85 percent of the concession, with the remaining 15 percent held by local Cameroon partners.
According to the release, the reconnaissance license was issued for an initial period of 12 months, with an automatic right to a one-year extension following completion of agreed-upon work, including sampling, geochemical work and geological mapping. At that time, Botswana Diamonds can also apply for one or more multi-year exploration licenses covering up to 386 square miles each.
Article from the Rapaport Magazine - April 2011. To subscribe click here.