GJ Town India

1.08 carat diamond and 0.25 carat Type IIa diamond recovered from L071 sample   Lucapa Diamond Company provides an update on kimberlite exploration at the Lulo diamond project in Angola. The kimberlite exploration program is designed to discover the primary hard-rock source(s) of the exceptional alluvial diamonds being mined in the greater Cacuilo valley.   The kimberlite bulk samples from L071, which is located in the Canguige catchment area, have now been treated. The sample totalling 2,380 bulked m3 was positive for diamonds, recovering two diamonds for a total weight of 1.33 carats. The largest is a 1.08 carat diamond and the second is a 0.25 carat Type IIa diamond.   The excavation and extraction of bulk samples from the remaining priority kimberlites and testing of anomalies of interest continues within the Canguige catchment area in our efforts to process as many bulk samples as possible this dry season and to identify the source of the diamonds recovered in the Cangui

  Recently Platinum Guild International (PGI) reported Platinum Jewellery Business Review (PJBR) for the 2Q 2020. The report says China’s GDP grew in Q2 showing an impressive post COVID-19 recovery. The decline of jewellery sales eased after lockdown measures were lifted in most cities. Platinum fabrication returned to positive growth in Q2, thanks to new product launches, promotions and PGI’s Reboot against a backdrop of positive metal pricing.   India’s store traffic and consumer demand dropped significantly as the majority of the jewellery business was closed. Once business resumes, platinum jewellery is likely to benefit from retailers’ focus on high margin categories and a conversion of gold customers to optimise return.   COVID-19’s economic impact is severe in Japan, but the government's cash hand-outs and an easing of the State of Emergency in late May supported a consumption recovery in June. Jewellery sales were dismal; however platinum was still performing best amon

  NDC to debut new campaign on 14th September week!   David Kellie, CEO, Natural Diamond Council inks, As we approach our three-month anniversary as the Natural Diamond Council I wanted to give you, our stakeholders, an update on our progress and a preview of our new Q4 2020 advertising campaign that we’ll be announcing in three weeks.   In the eight months since I took over in this role, the world and our industry has lived through unprecedented challenges. Never before has our generation faced such threats to our health, the economy and the way of life that we are used to. I have been incredibly impressed by how our industry has come together to support each other amid this crisis. More optimistically, it has also made me realize just how close we are to creating a new generation of consumers with a passion for diamond jewelry and the potential for our industry to grow significantly over the next five years. Since launching the Natural Diamond Council on 1st June we’ve seen con

  GJEPC raises Equalisation Levy (EL) concerns  Finance Minister clarifies EL not applicable     Smt. Nirmala Sitharaman, Hon’ble Minister of Finance, Govt of India last evening in a representation meeting held with The Gems and Jewellery Export Promotion Council of India (GJEPC), clarified that the e-trade of rough diamonds does not attract 2 percent Equalisation Levy and assured the representation that a clarification will be done on this soon.   The Gem and Jewellery Export Promotion Council of India (GJEPC), the designated apex body by government of India for the promotion of gems and jewellery, met Finance Minister Smt Nirmala Sitharaman in the Capital City New Delhi. A delegation led by Chairman, GJEPC Mr. Colin Shah represented the implications arising on the diamond segment due to expansion of Scope of Equalisation Levy (EL).   Equalisation Levy was introduced and amended in the Finance Act 2020. A 2 percent Equalisation Levy has been effective from April 1, 2020 in the

  The first report to examine export preparedness   NITI Aayog in partnership with the Institute of Competitiveness released the Export Preparedness Index (EPI) 2020. The first report to examine export preparedness and performance of Indian states, EPI intends to identify challenges and opportunities; enhance the effectiveness of government policies; and encourage a facilitative regulatory framework.   The structure of the EPI includes 4 pillars –Policy; Business Ecosystem; Export Ecosystem; Export Performance – and 11 sub-pillars –Export Promotion Policy; Institutional Framework; Business Environment; Infrastructure; Transport Connectivity; Access to Finance; Export Infrastructure; Trade Support; R&D Infrastructure; Export Diversification; and Growth Orientation.   “The Indian economy holds immense potential to become a strong exporter on the world stage. To realize this potential, it is crucial that India turns to its states and union territories and makes them active parti

  MCA maiden success from USA   Punjab National Bank Ltd. (PNB) has informed the Ministry of Corporate Affairs (MCA) which spearheaded the corporate governance litigation in a foreign jurisdictional Court, that it has received $ 3.25 million (equivalent of Rs. 24.33 crore) as the first tranche of recoveries. Upon liquidation of the debtors’ assets by the US Chapter 11 Trustee, a sum of $ 11.04 million (equivalent of Rs. 82.66 crore) is available for distribution to unsecured creditors including PNB. Further recovery therefrom is subject to other expenses and settlement of claims of other claimants.   The maiden repatriation of $ 3.25 million is an unprecedented achievement of the Government of India, Ministry of Corporate Affairs in its fight against corporate fraud in overseas territory. The Ministry also has initiated proceedings for disgorgement of monies from the perpetrators, i.e., the entities promoted and/or controlled by Nirav Modi/ Mehul Choksi. Punjab National Bank Ltd.in

  Center stage with a new collection   Bernhard Lederer, inceptor of numerous breakthroughs in watchmaking and creator of extraordinary tourbillons, returns to center stage with a new collection entitled ‘Tribute to the Masters of Escapements,’ a limited series of precision chronometers designed and developed to honor those who set true milestones in the advancement of an horological invention that remains as crucial and fascinating as ever.   After years of research, the watchmaker, incidentally one of the first members of the AHCI (Académie Horlogère des Créateurs Indépendants, an association with the mission to perpetuate the art of independent watch and clockmaking), brings to fruition the principle of the natural escapement with two 10-second constant-force mechanisms as conceived by John Harrison in 1756.   The Central Impulse Chronometer by Bernhard Lederer: a sleek watch with a movement of exceptional complexity, the result of unimagined development efforts and a testamen

  SPS on stimulating demand for silver jewelry   The Silver Institute’s Silver Promotion Service (SPS), which is focused on stimulating demand for silver jewelry in major international markets, announced today the launch of its all-new Virtual Silver Pavilion leading silver designers and gain access to information and trends, all from the safety and comfort of their own homes, inspired by reon the SPS website. Members of the jewelry trade can browse the latest designs from cent consumer research identifying pent-up demand for jewelry, as well as robust purchase intention for silver jewelry specifically; this digital platform will showcase “must-have” new silver styles available for purchase.   The pandemic related cancellations of 2020 trade shows, coupled with recent “Silver Linings” research confirming consumer purchase intention for silver jewelry, inspired the SPS to create a digital platform for Savor Silver brands to showcase their newest designs to retailers and the press.  B

Allegiant Gold on acquisition spree!   Allegiant Gold Ltd announces that it has signed a definitive agreement with Summa Silver whereby Summa can acquire up to a 100% interest in the historic Mogollon silver-gold mining district of south-western New Mexico from Allegiant Gold Ltd.    Peter Gianulis, CEO of Allegiant Gold, commented: “We are very excited to have reached an agreement with Summa.  Their dedication and professionalism throughout this process was unparalleled and we are confident that we selected the right partner to develop one of the best undeveloped silver projects in the U.S.  We look forward to their progress and our ability to focus on the development of Eastside, our flagship gold-oxide project in Nevada.  Allegiant now has four projects farmed out, three of which are expected to be drilled over the coming month in addition to drilling up to 15,000 metres at Eastside this season. We continue to execute our business plan and are very pleased with the progress we have

  The maiden drilling program   Gibb River Diamonds announces that the maiden drilling program at the high grade Edjudina Gold Project (GIB with Option to Purchase 100%) will commence in the first week of September. A contract with Top Drive Drillers Australia has been signed to provide drilling services to the Company. A Program of Works authorisation has been received from the WA Mines Department which permits the Company to undertake this drilling work and a number of subsequent drill programs. The maiden aircore drilling program will consist of a minimum of 2,000 metres of aircore drilling. It will aim to test a number of targets which have been generated by the Company using historic geological data, these include, 1: Areas of previous mining activity which include historical shafts and workings as evidenced in GIB’s field program. 2: Areas covered by alluvium or windblown sand along strike from previous workings which have not been explored or tested, 3: Areas with evidence of

  Forevermark unveils its Trend Report for 2020. Developed at Forevermark’s Design and Innovation Centre in Milan, four key themes have been identified to inspire and shape desire for diamonds in 2020.   “From finding personal fulfilment, and creating meaningful design, to protecting our precious planet, and the value of empowerment and acceptance, the Forevermark 2020 Trend Book speaks to important truths about the choices we make as we live our lives and the legacy we wish to leave.” says Federica Imperiali, Head of New Product Development at Forevermark. “Across four inspiring trends, these essential concepts are translated into a rich array of design solutions at the very heart of which sit beautiful, rare and responsibly sourced Forevermark diamonds.”  Spring/Summer 2020 Trends:  Urban Nature: The challenges our planet currently faces have opened a space for design that addresses important topics such as climate change, sustainability and the protection of endangered habitats an