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MONTH IN REVIEW Updated at www.jewelleryfocus.co.uk


“I was absolutely delighted to hear that Richard and Julie Blampied were going to donate the money to charity and run a competition” Georgie Mabbs, Aurum of Jersey


DIAMONDS


Diamond sector ‘must work together’, says


De Beers chief Bruce Cleaver - chief executive of diamond mining company De Beers - has called for greater collaboration within the diamond industry. Speaking at a reception for


customers of its Global Sightholder Sales business on 17 January, Cleaver highlighted the importance of all parts of the diamond sector working together following what he called an “unpredictable and volatile” 2016. Commenting on the value of


different parts of the diamond pipeline finding ways to work together more effectively, Cleaver said the industry had made some “good steps” with greater collaboration across the value chain to stimulate demand, to share industry insight and to support pipeline efficiency. He said it was important to continue


on this path and maximise the impact of the sector’s combined efforts to continue to grow industry value. Cleaver said it was “vital” for all


parts of the value chain to benefit from industry progress, noting: “None of us in the diamond industry can succeed in isolation. We must find ways to progress together, and we must continue to view challenges and opportunities from each other’s perspectives.” He highlighted areas of opportunity


for the sector and said, with the industry’s “long-term fundamentals being so positive”, there is an opportunity for investing in financially robust and transparent diamond businesses.


16 JEWELLERY FOCUS Aurum of Jersey, in St Helier, Jersey,


decided to replace the carpet last year and said it could be valued at thousands of pounds after gathering specks of precious metals and shavings for the past 15 years. The company launched a


competition in November, in which it invited customers to guess the value of the metals in the carpet, with the total amount being paid to a local charity of the winner’s choice. Cleaned by Hatton Garden-


based bullion merchants Presman Mastermelt, the left over specks of gold, platinum and silver were extracted from the carpet by a special machine and weighed. They were valued at £13,000. Katie McFarlane, who guessed


that there would be £12,450 worth of dust embedded in the carpet, was the winner and chose to donate the proceedings to Jersey Hospice Care. Georgie Mabbs, marketing executive


at Aurum of Jersey, told Jewellery Focus: “I was amazed by the amount of money we received for our old workshop carpet. I was also absolutely delighted to hear that Richard and Julie Blampied, goldsmiths and directors of Aurum, were going to donate the money to charity and run a competition. “The competition winner chose the


charity Jersey Hospice Care a fantastic charity close to our hearts who were over the moon with the large donation.”


COMPETITIONS


Jeweller’s carpet rakes in £13,000


for charity A jewellery store that sold its 15-year- old carpet for £13,000 has donated the proceedings to charity.


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3 TRADING UPDATE


Petra Diamond revenue jumps 48% in first-half results


Petra Diamonds has announced that revenue jumped 48% for the first six months of its 2017 financial year. In a trading update for the first half


of its 2017 financial year ending 31 December 2016, the diamond mining firm reported a revenue increase to $228.5m (£183m) - up 48% from $154m (£124m) in the same period the previous year. The number of diamonds sold rose


47% for the period to 1,910,113-carats, compared with 1,303,051 in the first half of its 2016 financial year. Petra said, in line with past years,


the second half of the year is expected to be a stronger sales period due to the timing of tenders being weighted towards the latter half of the company’s financial year. Diamond production was also up


24% to 2,015,087-carats, from 1,629,403 the previous year. Petra said it remains on track to deliver its expected full-year production target of 4.4m to 4.6m carats.


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NEWS ANALYSIS FOOTFALL FILLIP


A welcome piece of news this month that high street retail footfall rose over the Christmas period for the first time in five years. The upward year- on-year trend clearly does not provide a magic bullet, or necessarily presage a return to the pre-internet glory days of the booming high streets, but it does show that consumers still like to make a trip to the shops. Of course, the greater numbers are probably largely due to an economy that at long last looks like something that could be called ‘upbeat’, and most economic indicators since the EU referendum - including consumer spending overall - have showed upticks.


END: THAT’S ALL. YOU ARE NOW UP TO DATE February 2017 | jewelleryfocus.co.uk


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