Articles and News
Industry News From De Beers, Jewelers For Veterans, And Jewelers For Children February 18, 2015 (0 comments)
De Beers Posts Strong Financial, Operating Performance
London, UK—Anglo American, parent company of De Beers, has released its preliminary results for the full year 2014. The diamond mining division was a strong performer, contributing $1.4 billion of underlying EBIT in 2014, which represents 28% of – and the second largest contributor to – the Group’s total. It delivered a 15% return on capital employed (ROCE).
Specific figures for De Beers:
- Operating profit up 36% to $1.4bn, due to good demand resulting in revenue growth of 11% and significant forex benefits.
- Diamond production up 5% to 32.6m carats (100% basis), due largely to stronger performance from Debswana (the joint venture between De Beers and the Government of Botswana).
- Forevermark diamond brand is now available in more than 1,500 retail stores in 34 markets (including 400 in the United States), a 20% increase over 2013.
- De Beers will invest around $3 billion in coming years to develop one new mine and extend two current mines; together the largest diamond production projects in the world.
- Investments made in these projects have a ripple effect, creating jobs and developing supply chains. De Beers invested almost $700 million in these projects in 2014 and plans to invest ~$820 million in 2015. A significant proportion will be on the ongoing construction of Venetia Underground and Gahcho Kué.
- The miner is well positioned for growth: forecast production to be in the range of 32 to 34m carats this year (100% basis), subject to market demand.
- Increasing the penetration of Forevermark is planned as brands become increasingly important.
- A new Sightholder contract is to start, requiring far more rigorous financial and governance compliance.
CEO Mark Cutifani said, “We have shown in 2014 that we are adapting and delivering and are on the right track to transform the performance of Anglo American. Our mining operations are the engine of our business and we have delivered higher and more consistent volumes, with a clear focus on increased stability, productivity, margins and returns. There is significantly more improvement potential, as we continue to build the capability to achieve a step change in performance and returns from our exceptional resource endowment.”
Anglo-American also is focused on improving its platinum mining business.
November Is Jewelers For Veterans Month
New York, NY—Jewelers For Veterans Foundation has proclaimed November as Jewelers For Veterans Month, beginning in November 2015. Ralph Destino, chairman of the organization and chairman emeritus of Cartier, made the announcement last week.
“Every jeweler in America is being asked to show their support for our returning vets and help provide these warriors with a pathway to economic success in an industry where they can put their skills to good use,” he said.
The Jewelers for Veterans Foundation is a 501c3 not-for-profit corporation founded in 2012 to help the nearly one million military veterans who are unemployed when they return to our country find potential careers in the jewelry industry. Retail and manufacturing jewelers in America will be asked to commit to the Jewelers for Veterans month by supporting this campaign and displaying a framed placard, a POS display, and a donation can in their offices and stores.
“We will kick off this campaign with a launch event at the JCK Las Vegas show this year,” said Todd Wolleman, president of ColorCraft and a member of the Jewelers for Veterans Foundation Executive Committee. “But we are asking manufacturers, retailers and trade associations to commit now so we can ensure success by November.”
The Jewelers for Veterans Foundation has set a goal of raising $150,000 from the 2015 campaign. All funds will be used to help military veterans find jobs in the jewelry industry. Jewelers for Veterans is seeking sponsors and volunteers. Visit www.JewelersforVeterans.org, email info@jewelersforveterans.org, or call (212) 398-0400.
Jewelers for Children Announces 2015 Rings of Strength Tour
New York, NY—The 2015 Jewelers for Children Rings of Strength Tour will be held Thursday, May 28, 2015 in Las Vegas, NV. This is the third edition of the popular event. The previous two events have included hundreds of participants and have generated over $ 100,000 to benefit children in need.
Participants can choose between a 5K walk or run, a 50K challenging bike ride in the foothills of Red Rock Canyon, and, new for 2015, a shorter, easier 15K bike route. Start time will be at 5:30 a.m. outside the tour bus entrance at the Mandalay Bay Resort Casino. The event is structured so that participants can complete the course and have sufficient time to prepare for a day of work at the Las Vegas events.
“We received a number of requests from bikers who were looking for a shorter, less-challenging route that they could complete and still put in a full day of work.” said JFC board member Rebecca Foerster, executive vice president of strategic planning and marketing at Leo Schachter Diamonds. “The event has a real sense of camaraderie and provides an outlet for folks who have a hectic day during a busy week.” Bikers can bring their own cycles or rent one. McGhies Ski Bike and Board will once again provide rental options and participants can reserve one during the sign-up process.
Visit www.ringsofstrength.org to sign up and create your personal fundraising page with a unique URL, which can be sent to friends and acquaintances to encourage them to sponsor your participation. All funds raised will benefit the Jewelers for Children charity partners. Sign up as an individual, with a friend, or even organize a team from your company to participate.
Sponsorship opportunities are also available. Full details are available here.
Bikers ready to go at the 2014 Jewelers For Children Rings Of Strength event.