Articles and News
INDUSTRY NEWS: BIG PINK FOUND DOWN UNDER, STERLING’S NEW COO, MORE February 22, 2012 (0 comments)
Massive Pink Diamond Found by Rio Tinto
Western Australia--A huge pink diamond, which experts estimate is worth more than $10 million, has been discovered at Rio Tinto's Argyle Mine here. Weighing 12.76 carats, it's believed to be the largest stone ever discovered in the country, according to reports. It's been named the Argyle Pink Jubilee, and is a light pink comparable to the Williamson Pink that Britain's Queen Elizabeth II received for a wedding present and wore at her coronation. Richard How Kim Kam, an expert diamond polisher and quarter-century veteran of Rio Tinto, has begun working on the stone. He will take about two months to study it, after which the finishing process should take approximately 10 days. At press time, it had not been determined what shape the stone will take, but Rio Tinto's Robyn Ellison said the rough will be cut into only one stone.
"We have had an extraordinary reaction to this diamond, unprecedented global interest," Ellison told The Centurion. "It's highly likely that the diamond will come to the U.S. as part of this year's Tender," she added.
Read more about the find here, here, here and here.
Hrabak Named COO of Sterling; Other Execs Move Up
Akron, OH—Edward Hrabak, senior vice president of merchandising for Sterling Jewelers, has been promoted to chief operating officer, succeeding Bill Montalto, who is retiring at the end of June. Hrabak is a 25-year veteran of the company; Montalto has 26 years under his belt.
Stuart Lee, vice president of merchandising, steps up to Hrabak’s former senior VP role, while Dawn McGuire, currently VP of mail merchandising, will take over Lee’s former role.
GIA Unveils Digital Diamond Report
Carlsbad, CA—GIA (Gemological Institute of America) announces the addition of an online grading report option to its existing slate of services. The GIA Diamond eReport delivers grading results completely online and is available for natural, D-to-Z color diamonds from 0.15 to 2.99 carats. Results are delivered via Report Check, GIA’s secure web-based report database.
The new paperless report format is not only faster and more environmentally friendly, says GIA, but its paperless format offers a 10% fee savings over its paper-based reports. The online report delivers the same impartial grading metrics as printed reports, but with the added feature of a detailed face-up image of the diamond captured during the grading process. This image and the diamond’s metrics are permanently stored in GIA’s global database, ensuring perpetual access to the diamond’s information and its identification.
The Diamond eReport marks GIA’s first entry into the digital-only report space, says Thomas M. Moses, GIA senior vice president of laboratory and research. Plans are underway to further expand such offerings, he said. To view a GIA Diamond eReport sample, click here and next to Report Number enter 2141438194, and next to Carat Weight enter 1.01. For more information, visit www.gia.edu.
Breaking news: Main Line Philadelphia Jewelry Store Robbed
St. Davids, PA--Six thugs carrying guns and hammers did a smash 'n grab robbery at the Bernie Robbins jewelry store in the Radnor Hotel Wednesday evening. Both employees and customers were in the store at the time; the robbery occurred at around 6:30 p.m., the height of evening rush hour, and barely a half mile from the Radnor police station. Nobody was injured, according to reports, and the jeweler is offering a $5,000 reward for information leading to the arrest and conviction of the suspects. Surveillance tapes from the store are being studied for clues. At press time it was unclear how much merchandise was stolen. Read more here.