Jewelry Business Articles & News

Canada sparkles

Canada sparkles
Tucson Citizen
Bustling industry up north produces world-class diamonds
SANDRA VALDEZ GERDES
Tucson Citizen

For many years, the thought of finding diamonds in Canada was little more than a prospector’s dream - until the 1990s when several world-class diamond-bearing deposits were found in Canada’s north.
With Canada’s diamond industry now worth more than $2 billion, production in 2004 at 12.6 million carats, and three new mines scheduled to open in 2008, Canada is rapidly emerging as a leading producer of world-class gemstone-grade diamonds.

Tucsonans will be privy to these spectacular rocks - otherwise known as a girl’s best friend - at the 52nd annual Tucson Gem and Mineral Show featuring this year’s theme, “The Gems and Minerals of Canada.”
“Canada is actually in the midst of exploration across the whole country and it’s rather exciting, so we thought it would be nice to spotlight our neighbors to the north,” said Carole Lee, publicity chairwoman. “We are going to have at least one diamond in the rough that the Royal Ontario Museum is bringing,” Lee said. It is a 4-carat Canadian diamond, in matrix, from the Ekati mine in the Northwest Territory, about 186 miles northeast of Yellowknife. The mine opened in 1998 as Canada’s first diamond producer.
“It’s all very exciting, because Canada is expected to rival South Africa as the diamond field of the future,” Lee said. De Beers Diamond Trading Co. is planning to mine in Canada, and the country has a reputation of clean mining and environmentally safe mining. “These are nonconflict diamonds, and there’ll be a big market for them,” Lee said.
The annual Tucson show is the world’s largest gem and mineral show and offers a chance to view and buy unique pieces from every corner of the globe. It is a major draw for jewelry aficionados, fine mineral collectors and meteorite collectors, said Lee, who expects a crowd of about 35,000 at the TCC during the four days.
OTHER SHOW HIGHLIGHTS
CRYSTALLIZED GOLD
The largest British Columbia crystallized gold specimen is being brought to Tucson by the Mineralogical Museum at Harvard University, Lee said.
“It’s exceptional and may be the finest crystallized gold specimen from all of Canada,” said Carl Francis of the museum. The specimen is illustrated on the cover of the current issue of Rocks and Minerals magazine, which always devotes its January-February issue to the TGMS show, he said.
BAFFIN ISLAND SAPPHIRES
True North Gems will present an exhibit of the large sapphires from the Beluga sapphire occurrence of Baffin Island, one of the Arctic Islands in the North of Canada. “The sapphires have a distinctive deep blue color with violet overtones,” Lee said. “There have been 330 grams of sapphires mined from Beluga. It’s an unusual sapphire occurrence and it’s being compared to the beautiful tourmalines and aquamarine occurrences in Afghanistan and Pakistan as far as gem quality stone,” she said.
DACTYLIOTHECA, THE POPE LEO XII RING COLLECTION
The Dactyliotheca is a collection of 388 precious and ornamental stones. The collection, donated in 1824 by Pope Leo XII to the Mineralogical Laboratory of the Archigymnasium of the University of Rome, was made in Idar-Oberstein at the turn of 18th century. It comes to Tucson from the Museum of Mineralogy, University of Rome “La Sapienza.”
This is a rare opportunity to see this extensive collection of stones, Lee said. “It’s one of the few papal collections kept outside of the Vatican. Vatican collections don’t typically travel anywhere and are not seen by the public, so this is a rarity,” Lee said. “It’s a very interesting piece of history.”
The stones are often mounted on plates of agate or other semiprecious materials, mostly cut in octagonal shape or as cabochons. The plates can be interchanged on two rings, also included in the collection.
THE SMITHSONIAN
Each year the Smithsonian Institution sends some of its best gems. This year, it will send the Star of Asia, a round six-ray sapphire star weighing 330 carats. The Star of Asia, with its extraordinarily rich blue-violet color, is one of the finest star sapphires in existence.

JUNIOR EDUCATION
The Junior Education area will feature a recently discovered baby triceratops from the Detrich Fossil Co. and a full mastodon from the Mesa Southwest Museum.
Bob Detrich of Detrich Fossil Co. said the triceratops named Gumbo was found last year in Harding County, S.D. This is the first time it’s being displayed for public view. “It’s the smallest triceratops discovered to date,” he said. It stands just a few feet high, with a skull not more than 24 to 30 inches. The average triceratops skull is about 7 feet wide. It was found standing straight up, as if it was stuck in the mud. Detrich said he is also bringing an adolescent T. rex skull discovered in August and still in matrix, so people can see what it looks like when it’s found. “We’re going to give a piece of matrix to each kid who comes by the TCC or the Mineral and Fossil Co-op.”
Robert McCord, curator of paleontology of the Mesa Southwest Museum, said the mastodon was housed at the University of Arizona for about 20 years. It was excavated at Boney Springs, Mo., in about the early 1970s. “It’s a very big mastodon. It may be among the biggest known. It’s about 10 feet high at the shoulder. They don’t get as big as mammoths, but I think he’s a big impressive creature.”
“Kids go through year after year and probably find it more interesting as they age and understand minerals more. They always have those little scavenger hunts out on the main show floor where they send them out with a list of things they have to identify in various places. The kids always enjoy it.”
LECTURES
Former Tucsonan Tom Zoellner, author of “Midnight Sun: The Diamond Boom and Canada’s Newest Mining Frontier,” will present an exposé of Canada’s diamond exploration at 1 p.m. Sunday.
During a 12-year career in newspapers, Zoellner worked as a reporter for the San Francisco Chronicle, The Arizona Republic, and The Salt Lake Tribune and won numerous awards for his investigative stories. He is also the author of “The Heartless Stone: A Journey Through the World of Diamonds, Deceit and Desire.”

Add comment February 14th, 2006

Eight of the World’s Leading Jewelry Retailers Urge Mining Industry To Clean Up ‘Dirty’ Gold

Eight of the World’s Leading Jewelry Retailers Urge Mining Industry To Clean Up ‘Dirty’
Gold
CSR Wire

New York City—For the first time ever, eight of the world’s top jewelry retailers have pledged to move away from “dirty” gold sales and are calling on mining corporations to ensure that gold is produced in more socially and environmentally responsible ways. The retailers, which are the Zale Corp., the Signet Group (the parent firm of Sterling and Kay Jewelers), Tiffany & Co., Helzberg Diamonds, Fortunoff, Cartier, Piaget, and Van Cleef & Arpels, are being praised by the No Dirty Gold campaign today in a full-page ad in The New York Times, timed to coincide with Valentine’s Day, one of the biggest jewelry-buying holidays in the United States.

“Because jewelry retailers buy the majority of gold produced worldwide, they have the power to help clean up the mining industry,” said Payal Sampat, co-director of the No Dirty Gold campaign and international campaign director for EARTHWORKS. “We applaud the leadership of these companies. It’s an important first step.”

More than 80 percent of the gold produced worldwide is used to make jewelry. Retail sales of jewelry in the U.S. alone surpassed $45 billion in 2004, of which gold jewelry accounted for $17 billion. The eight companies identified as “leaders” together represent $6.3 billion in retail jewelry sales, or 14 percent of sales in the United States, which is second only to India in annual gold consumption. Four of the top 10 U.S. jewelry firms – Zales, Kay Jewelers (Sterling/Signet), Tiffany & Co., and Helzberg Diamonds – are among the firms identified as “leaders.”

The New York Times ad (available at www.nodirtygold.org) features a heart-shaped locket with images depicting the environmental and human toll of gold mining, and the headline “There’s nothing romantic about a toxic gold mine.” The ad then names both the retail jewelry “leaders,” that have made in-principle commitments to sourcing more responsibly produced gold and those “laggard” companies that have not yet done so. The “laggard” retailers identified by the campaign are Rolex, JCPenney, Wal-Mart, Fred Meyer Jewelers, Whitehall Jewellers, Jostens, QVC, and Sears/Kmart.

“Despite growing demand from concerned consumers, mining corporations have yet to significantly reduce the harm their operations are inflicting on communities in many parts of the world,” said Keith Slack, co-director of the No Dirty Gold campaign and senior policy advisor for Oxfam America. “When major jewelry retailers demand ethically produced gold for their products, it’s time for the mining industry to take note and make changes in their practices.”

Growing controversy over new mine proposals and news stories detailing environmental and human rights abuses and corruption within the gold mining industry have prompted retailers to worry about their brand reputations and have spurred consumers to question the source of their gold purchases. Since the No Dirty Gold campaign was launched two years ago, more than 30,000 consumers have signed a petition urging mining corporations to clean up their act and produce gold more responsibly.

The jewelry industry “leaders” named by the No Dirty Gold campaign have endorsed human rights, environmental, and social justice principles that call for responsible practices in producing gold and precious metals. These include:
(1) Respect for basic human rights outlined in international conventions and law;
(2) Free, prior, and informed consent from affected communities;
(3) Respect for workers’ rights and labor standards;
(4) Protecting parks and natural reserves from mining; and,
(5) Protecting oceans, rivers, lakes, and streams from mining wastes.

The production of a single gold ring generates, on average, 20 tons of waste. Gold mining has caused massive environmental destruction, contaminated fisheries and fresh water used for drinking and irrigation, and displaced tens of thousands of rural farming, fishing, and ranching communities.

“For too long, the people who are buying and selling gold have been blind to mining’s impacts on the water, the air, the land, and communities like the Western Shoshone. What we’re talking about is the life of future generations – and not just Indian children, but all children,” said Carrie Dann of the Western Shoshone Defense Project. “But today, some of the leading jewelry retailers are recognizing that they have a responsibility not only to their customers but also to communities affected by gold mining.” Approximately half the gold produced worldwide between 1995 and 2015 has or will come from indigenous peoples’ lands.

The No Dirty Gold campaign is not a boycott on gold, but is working to end destructive mining practices, educate consumers about gold mining’s impacts and build consumer support for industry reform.

Add comment February 14th, 2006

Tips for Insuring Jewelry

Tips for Insuring Jewelry
by KYW’s Hadas Kuznits

People who may be getting expensive gifts of jewelry for Valentines Day are being encouraged to get insurance.

Jeanne Salvatore with the non-profit Insurance Information Institute says people who want to insure their jewelry can choose either a blanket policy or a specific policy or both:

“Generally with jewelry, you’re gonna be covered for about $1000-2000 worth of jewelry. So if you have something that is a much higher value, what you need to do is to get a floater, which is a specific or separate policy for that item.”

She says items that might warrant a separate policy include diamond rings, gold watches, cufflinks or anything that would be too expensive to replace:

“It’s far cheaper to insure something than it is to re-buy something.”

Add comment February 14th, 2006