GIA Names Brad Brooks-Rubin Head Of Development & Beneficiation. Rio Tinto Technology Offers Virtual Tour Of Diavik Mine

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1 GIA Names Brad Brooks-Rubin Head Of Development & Beneficiation The Gemological Institute of America (GIA) has appointed Brad Brooks- Rubin to the newly created position of global director of development and beneficiation, with the aim of bringing benefits to gem producing communities. Brooks-Rubin, the former special advisor for conflict diamonds in the US State Department, has extensive international experience working with industry, government and civil society on matters relating to conflict minerals and gems. He joins GIA s development team and will work with NGOs, trade groups and government agencies to further GIA s beneficiation initiatives in gem producing regions. Brad s extensive experience in international law, government and compliance combined with his commitment to promoting transparency in the gem and jewellery industry will contribute significantly to GIA s beneficiation and economic development efforts in the nations and communities that are so important to the global trade. I m very pleased to welcome Brad to GIA, said Susan Jacques, the GIA s president and CEO. As an independent, global public-benefit organisation, GIA is in a unique position to foster sustainable development of local economic value in gem producing regions. I look forward to working with GIA s stakeholders for the benefit of the ultimate consumer, and the people and communities who are such an important part of this industry, said Brooks- Rubin. Brooks-Rubin joins GIA from Holland & Hart LLP, where he counselled international clients on trade sanctions, export controls, and international trade laws and regulations. He previously served as an attorney advisor for the US Department of the Treasury. Brooks-Rubin is a recipient of the Jewelers Vigilance Committee s Stanley Schechter Award and is a published author. He holds a Doctor of Law (JD) degree from Georgetown University Law Center and a Bachelor of Arts degree from Washington University in St. Louis. Rio Tinto Technology Offers Virtual Tour Of Diavik Mine Rio Tinto Diamonds is bringing the mine to the marketplace by using innovative Oculus Rift technology to provide an interactive virtual journey into its Diavik diamond mine in the remote Northwest Territories of Canada. The Oculus Rift debuted at the Rio Tinto booth at the JCK Luxury Show in Las Vegas on May 27. Rio Tinto has partnered with New York-based Bravo Media Inc. to custom design the Oculus Rift experience. Oculus Rift, a virtual reality headset, provides a completely immersive, computer-generated environment that allows the user to fly above the coast of Canada and land at the Diavik diamond mine. From here the user is taken on an interactive journey down the mine. Brandee Dallow, manager of Rio Tinto Diamonds North American representative office, said, The interactive technology brings to life the mining experience in a very compelling way. Our goal in showcasing Oculus Rift at this year s JCK Show is to start the dialogue with our customers and other members of the diamond jewellery industry about the new approaches available to better capture the next generation consumer. Rio Tinto Diamonds has a long track record of harnessing technology and innovation to create value in the diamond industry including X-ray sorting machines, laser technology to prepare diamonds for cutting and polishing as well as innovative solutions in mining, processing and renewable energy. It is important for the diamond industry, from the trade through to the final consumer, to gain an understanding of where Rio Tinto s diamonds come from and how they are mined. The mine to market story is very important to us and so we are delighted to present this new tool to the industry, said Dallow. 20 solitaire INTERNATIONAL july 2014

2 Forevermark & Tarun Tahiliani Co-host Design Master Class Forevermark collaborated with couturier Tarun Tahiliani to host a design master class at Shree Raj Mahal Jewellers store in Delhi. Tahiliani engaged the guests by sharing style tips on putting together the right ensemble and jewellery. He also discussed the season s latest bridal trends and emphasised on selecting the right trousseau to complement one s look and personality type. Forevermark president Sachin Jain said, The design master class is Forevermark s attempt to showcase a unique amalgamation of bridal fashion and jewellery. We at Forevermark always strive to offer our customers a oneof-a-kind experience. We are pleased we have partners like Shree Raj Mahal Jewellers and Tarun Tahiliani believing and supporting our vision. A modern-day bride wants to make informed choices, be it her jewellery or her outfit. Since both play an essential part, it seemed only natural for us to offer an exquisite experience to our customers that could address important bridal concerns. It was an absolute pleasure to partner with Forevermark and host such an enriching evening through this design master class, said Praveen Goel of Shree Raj Mahal Jewellers. GIA Holds Graduation Ceremony In Mumbai The Gemological Institute of America (GIA) hosted a graduation ceremony for students of their Graduate Diamonds diploma on May 30 in Mumbai. Eighteen students received diplomas in a special ceremony presided over by Vijay Jain, CEO and director of Orra, a leading jewellery retail company in India. GIA director of education in India Manoj Singhania and GIA instructor Aditi Parab were also in attendance. Jain shared advice based on his decade of experience in the retail jewellery business. Education is vital for aspiring gem and jewellery professionals to succeed. Today, GIA is helping to develop the kind of talent that will flourish in this industry. Part of GIA s mission is to support the gem Vijay Jain (seated second from left) with the graduating class and GIA officials Nirupa Bhatt and Manoj Singhania. and jewellery industry through relevant, hands-on education, said Nirupa Bhatt, managing director of GIA in India and the Middle East. I encourage you to use this knowledge as you embark into the industry as professionals. The Graduate Diamonds diploma equips students with comprehensive knowledge of GIA s international diamond grading system and provides in-depth training in the 4Cs. The institute also conducts off-campus classes in nearly 60 cities throughout the country and conducts courses in gemmology, jewellery design and more. 22 solitaire INTERNATIONAL july 2014

3 Swarovski Sponsors IIJ Award Jury members judging the designs at IIJ. Rajendra Jain awarding Aarti Palekar for best line of jewellery. Swarovski, the upmarket crystal jewellery manufacturer, supported the Indian Institute of Jewellery s (IIJ) annual convocation ceremony and exhibition Parinam that was held in Mumbai on May 26. The trophies were made with Swarovski Zirconia. Swarovski Gems India managing director Rajendra Jain was the chief guest of the event. He was joined by Modern India Ltd. chairman Vijay Jatia, IIJ director Renu Kapoor, and Gem and Jewellery Skill Council of India (GJSCI) CEO Dharmesh Sodah among others. The eight winners in as many categories were chosen from a total of 40 students. The competition jury comprised renowned names from the industry, including Rajendra Jain, Rupali Gupta of Hitchhiker Design Consultants, Wilson Quadros of KGK Creations India, Praveen Jain of Blue Lotus, Darshan Dave of Diosa Jewels, Amish Kothari of Yunysha, and Rajesh Bajaj of Heera Zhaveraat Group. We wanted to assemble a panel of people who are independent and neutral. They are all experts in their field, but come from different sectors of the industry to provide unique perspectives, said Rajendra Jain. Zimbabwe To Host Second Diamond Conference In November The Zimbabwe ministry of mines and mining development will organise the second Zimbabwe Diamond Conference in Harare on November 6-7. The conference will be hosted by the mining minister Walter K. Chidhakwa, who will address the audience on behalf of the Zimbabwe government. Dignitaries from leading African diamond producing countries and delegates from world leading diamond traders, manufacturers, financiers and jewellers are expected to attend the event. Zimbabwe is the world s third biggest diamond-producing nation by volume, with a 2012 output of million carats valued at $ million. The inaugural Zimbabwe Diamond Conference was organised at the Elephant Hills Resort in Victoria Falls in The event was a watershed moment in the history of the country s burgeoning diamond mining sector. President Robert Mugabe had inaugurated the two-day conference, which saw more than 350 participants. The government of Zimbabwe is currently in the process of optimising its revenues from diamond sales by organising different tenders. In December 2013, the first Zimbabwean rough diamond tender in Antwerp achieved $10.5 million from the sale of 2,79,723 carats. A second Antwerp tender in February 2014 brought in $70 million from 9,59,931 carats of rough. In March 2014, a diamond tender in Dubai raised $29.3 million from the sale of 3,80, carats. The permanent secretary Prof. Francis Gudyanga said: Since being accepted again as a full member of the Kimberley Process Certification Scheme in 2011, Zimbabwe made a lot of progress in the diamond industry. By organising this conference, we would like to highlight these accomplishments. Zimbabwe found its place again in the industry! shutterstock.com 24 solitaire INTERNATIONAL july 2014

4 P.N. Gadgil Unveils New Jewellery Line P.N. Gadgil Jewellers, the Pune-based 182-year-old jewellery retailer, collaborated with fashion designer Manali Jagtap for the launch of a limited edition collection called Satyam Shivam Sundaram. The jeweller hosted a fashion show titled Bold to Wear Gold at its Vile Parle outlet in Mumbai to celebrate the launch of the new line, which assimilates design cues from India s rich cultural heritage. The models walked the ramp in elegant white gowns by Manali Jagtap. Saurabh Gadgil, managing director of P.N. Gadgil Jewellers, said, At P.N. Gadgil Jewellers, we continuously try to innovate our approaches to reach out to our customers. Bold to Wear Gold is yet another initiative for the same. The jewellery collection also incorporates South Sea pearls, rubies and white sapphires among other precious gems. (From left) Saurabh Gadgil poses with Hrishita Bhatt and Manali Jagtap. GIA Inaugurates New York Lab & Education Facility Many banks appear to be requesting grading reports to substantiate loans Concerns about undisclosed synthetic diamonds have made effective screening, especially of smaller stones, much more important An increase in consumer demand in developing markets for smaller stones with GIA grading reports The Gemological Institute of America (GIA) board of governors formally inaugurated the Institute s new laboratory and education facility in the International Gem Tower in mid May. In addition to discussing regular business, the board focused on the challenges posed by unprecedented demand for GIA s identification and grading services, and growing industry concerns about synthetic and treated gemstones. To address the elevated service time resulting from high demand for GIA laboratory services, the governing body of the public-benefit institute directed GIA s management to examine the potential for adding a diamond grading facility in Surat, the centre of India s diamond manufacturing industry, as well as affirming its support for GIA s expanded hiring programme and other measures. The board also increased funding for continued research into the detection of synthetic and treated gems, and for further innovation to speed the diamond grading process. The Board identified three factors contributing to the exceptionally high demand for GIA grading reports: Speaking after the meeting, chair of the GIA board of governors John Green said, Over the past 18 months, GIA has seen a dramatic increase in demand for laboratory services, especially for diamonds weighing less than half carat. To address the demand-driven longer service times, particularly in the increasingly important Indian manufacturing sector, GIA will study the feasibility of expanding our laboratory presence to Surat, bringing grading services that much closer to our clients. The board increased funding for GIA s research programmes. The institute s team of 38 full-time research scientists, including 20 with doctoral degrees, focuses its efforts on developing the tools and techniques to identify synthetic and treated diamonds, coloured stones and pearls. The research team is working to expand the capability of GIA s DiamondCheck system and to develop technology and processes to further accelerate the grading process. Addressing representatives of the New York gem and jewellery industry gathered to mark the opening of GIA s new facility in the city s Diamond District, Green said, This fantastic new space brings together the three pillars of GIA our comprehensive, long-term research efforts, our industry-leading laboratory services, and the most recognised gem and jewellery education programmes in the world all in one fabulous location. GIA moved its laboratory into the 80,000-sq-ft, three-floor facility in mid- March; gemmology and jewellery design classes started in the new location on May solitaire INTERNATIONAL july 2014

5 (From left) Ian Harebottle, Rupak Sen, and Chitrangda Singh at The Project Blossoming auction Nisha Jamvwal Pria Kataaria Puri Gemfields Project Blossoming Collection Auctioned In Mumbai Rouble Nagi Gemfields hosted a gala evening in support of Project Nanhi Kali to raise vital funds for the education of underprivileged girl children. On June 9, Christie s auctioned the Project Blossoming collection for an undisclosed sum at a glittering event in Mumbai. The collection consisted of 12 unique jewellery pieces created using Gemfields Zambian emeralds and Mozambican rubies. Part of the proceeds will go to Project Nanhi Kali, jointly managed by the K.C. Mahindra Education Trust (KCMET) and Naandi Foundation, and will be used to educate 2,500 young girls. The event brought together the who s who of Indian society, including Project Blossoming Ambassador Chitrangda Singh; Julien Vincent Brunie of Christie s; Ian Harebottle, Gemfields CEO; Rajiv Dubey of Mahindra and Mahindra; Sheetal Mehta, executive director, KCMET; Manoj Kumar, CEO Naandi Foundation; Tisca Chopra, Preeti Jhangiani, Parvin Dabas, Aditya Hitkari, Divya Palat, Nisha Jamvwal, Rouble Nagi, Pria Kataaria Puri and Naazneen Bedi. Project Blossoming has been such an inspiring initiative, said Sheetal Mehta. The auction has managed to raise an astounding figure, which I am sure will bring smiles and give hope to many young girls! The Project Blossoming collection combined the talents of India s leading jewellers: Hazoorilal and Mirari from Delhi, Anmol Jewellers and Moksh from Mumbai, Amrapali from Jaipur, Talwarsons Jewellers from Chandigarh, Tibarumals Jewellers from Hyderabad, Lala Jugal Kishore Jewellers from Lucknow, Abaran from Bangalore, and Narayan Jewellers from Vadodara. I am delighted with the response we received for this philanthropic project, said Ian Harebottle. Its success has made our resolve even stronger to do more in the coming years in India. I would like to thank everyone whose efforts have made this initiative such an amazing success. 30 solitaire INTERNATIONAL july 2014

6 UBM Successfully Hosts Hyderabad Jewellery Pearl & Gem Fair Joji George, managing director of UBM India, inaugurated the 7th edition of the Hyderabad Jewellery Pearl & Gem Fair on June 7 in presence of Mahender Tayal, president, Hitech City Jewellers Manufacturers Association and other dignitaries from the jewellery trade. The three-day fair saw participation from over 120 jewellery manufacturers, wholesalers, retailers, importers, exporters, diamond and gemstone suppliers and representatives from the trade and governmental organisations. Speaking at the opening ceremony, George said, Over the years, the exhibition has only grown in terms of number of exhibitors, brands and visitors, offering excellent business opportunities for the participant manufacturers and traders. Maharashtra Saraf Suvarnakar Mahamandal Hosts Awards In Pune The Maharashtra Saraf Suvarnakar Mahamandal hosted the International Suvarn Summit Awards 2014 at Hotel JW Marriott in Pune last month. The awards were part of a social initiative by Silver Edge Utopian Pvt. Ltd., and recognised the contributions of achievers from the Suvarnakar community. The awards were given away at the hands of Pratibhatai Patil, the former President of India, and Devisinghji Shekhawat, the first mayor of Amravati. The event was attended by influential players from the national and international jewellery industry. IGI & GJSCI Join Hands For Skill Development The International Gemological Institute (IGI) has collaborated with the Gem & Jewellery Skill Council of India (GJSCI) to address the vital need for professional jewellery training services throughout the country. Under the alliance, IGI will offer its expertise, including the IGI School of Gemology s polished diamond and jewellery design courses, for a marginal fee to manufacturers and retailers in Mumbai and Surat. There is no doubt the Indian jewellery industry is growing at a rapid rate. With such progression, it is only fair to encourage an environment of increased professional education and know-how among trade members and applicable staff, said IGI India managing director Tehmasp Printer. Together with GJSCI, IGI will strive to maintain its high international standards while working to develop a skilled workforce, ultimately strengthening the growth and efficiency of this sector, he noted. 32 solitaire INTERNATIONAL july 2014

7 Farah Khan Ali Inaugurates Glimpz 2014 At IIGJ Mumbai The Indian Institute of Gems & Jewellery (IIGJ), Mumbai held the Glimpz 2014 exhibition of jewellery collections developed by the eighth batch of graduating students of its diploma in jewellery design and manufacture technology. The exhibition was inaugurated by Farah Khan Ali, creative head of Farah Khan Fine Jewellery. She was joined by IIGJ chairman Vasant Mehta, IIGJ Tardeo convener Namita Pandya, IIGJ advisory board convenor Prabir Chatterjee, and directors of the institute Praveen Shankar Pandya, Nirmal Kumar Barmecha, Sanjay Kothari, and Colin Shah. Every year, the three-year course culminates with a graduating project during which the students create collections of jewellery on particular themes. This year, the students were asked to work on the theme Pratico, which means practical in Italian. Petra Diamonds Limited Recovery of a carat Blue Diamond at Cullinan Petra CEO Johan Dippenaar holding the carat blue diamond. UK-based diamond producer Petra Diamonds Limited said it recovered an exceptional carat blue diamond at the Cullinan mine in South Africa. The miner said the stone would require further analysis in order to assess its potential value. Petra said it will be in a position to evaluate its optimal route to market upon completion of this process. The diamond will therefore not be sold before the end of the company s current financial year (June 30, 2014). The rarity of a blue diamond of this magnitude sets it apart as a truly significant find. Cullinan is known as the world s most important source of blue diamonds and since Petra acquired the mine in 2008, it has continued to produce a number of exceptional blues. The natural blue colour is derived from small amounts of the chemical element boron trapped in the crystal carbon structure during the diamond s formation. Virtually every blue diamond described by the GIA Gem Trade Laboratory as blue is classified as a Type IIb diamond. IDI Hong Kong Names Noa Pardo As Managing Director The Israel Diamond Institute Group of Companies (IDI) representative office in Hong Kong, IDI Asia Pacific Ltd., appointed Noa Pardo as the new managing director. She replaces Gilat Elizov Gefen, who served in this position for the past two years. The IDI Hong Kong office is responsible for promoting trade with Asian markets, especially Hong Kong and China, which have become a major focus for Israeli diamond exports. The office serves as a hub for Israeli diamond companies doing business in the region, providing office services as well as marketing and business information. It also facilitates business contacts between Asian and Israeli companies. Noa Pardo has extensive experience in the diamond industry, having worked for some of the largest Israeli diamond companies in Israel and Hong Kong. IDI chairman Moti Ganz said, With the expansion of Israel s trade with Asia, the IDI Hong Kong office has proven to be a huge strategic asset. Our foothold there has allowed us to significantly grow business opportunities and trade with the region. IDI Asia Pacific Ltd. is located in the AON China Building in Hong Kong s Central Business District, the heart of all commercial activities and the location of major banks, multinational companies and retail outlets. 34 solitaire INTERNATIONAL july 2014

8 Fabergé Creative Head Katharina Flohr Resigns Fabergé announced that after six and a half years with the group, Katharina Flohr will leave the company as managing and creative director in July. Flohr joined the founding team of Fabergé as creative director in February 2008, taking on the additional role of managing director in 2010 and defining both the creative and business blueprints. Flohr handpicked and directed the creative and production teams that oversaw the international re-launch of Fabergé in September 2009 with the unveiling of the first high jewellery collection to bear the Fabergé name since Under her guidance Fabergé released 11 high and fine jewellery and watch collections to international acclaim, and whose artistry, creativity and attention to detail pay homage to the legacy of Peter Carl Fabergé and his affinity for extraordinary craftsmanship. Flohr said: Rather than reproducing pieces, I thought about what Peter Carl Fabergé would be making today and what he would be inspired by for today s customers, restoring it to its luxury roots. Having lived and worked in Russia, I understood the responsibility and challenge of steering the illustrious Fabergé name into the 21st century. Ian Harebottle, CEO of Gemfields plc, the owner of Fabergé, added: Having Katharina mastermind the vitally important creative function at Fabergé has been an honour and we thank her for her immense contribution. She brought passion, flair and hard work, elegance and charm to Fabergé and led what surely must be one of the most remarkable flowerings of creativity seen in the jewellery industry in decades. The pivotal creative role she played in the transformation of Fabergé during the last seven years will echo in the hallways of Fabergé for years to come. Signet Completes Zale Acquisition Signet Jewelers Limited completed its acquisition of Zale Corporation for $21 per share in cash and a total consideration of $1.46 billion. The sale followed the approval of the transaction by a majority of Zale s stockholders at a special meeting held in late May. The transaction creates one of the world s largest speciality jewellery retailers with over $6 billion in sales. With over $6.2 billion in pro-forma revenue, Signet now operates in 3,600 locations under the major retail store brands of Kay, Jared, and Zales in the US; H.Samuel and Ernest Jones in the UK; and People s in Canada. Signet also now operates kiosks in the US under the brand Piercing Pagoda. Having now closed the acquisition of the Zale Corporation, we have entered a new era of growth and transformation for our company and our people, said Mike Barnes, Signet chief executive officer. I am truly excited to have the Zale team joining the Signet family and I, and our leadership team, look forward to building upon the strengths of the entire organization. The transaction is expected to be a high-single-digit percentage accretive to earnings in the first full fiscal year after the close of the transaction, excluding acquisition accounting adjustments and one-time transaction costs. Signet s expertise, capital, and proprietary systems provide the opportunity for $100 million of synergy potential, currently estimated to be achieved by fiscal year-end These synergies are expected to result from $50 million of savings due to improved product sourcing and purchasing leading to cost improvement; $30 million of benefit split between repair services sales and margin growth and incremental margin from brand cross-selling; and $20 million of selling general and administrative cost reduction. Signet financed the transaction with a 2-year asset backed accounts receivable securitization facility of $600 million; 10-year senior unsecured notes of $400 million; a 5-year bank term loan of $400 million; and internal cash. 36 solitaire INTERNATIONAL july 2014