ICA Newsletter - April 2018
ICA Vietnam Ambassador Report
Vietnam is well known as the source of vivid fancy red rubies with strong luster, as well as star rubies, cobalt blue spinel and other colors of spinel. ICA Ambassador to Vietnam, Le Yen writes about the state of the nation's gemstone market.
ICA Directors' Delegation Attends OECD Forum in Paris on Responsible Mineral Supply Chains 
From April 17-19 in Paris, the 12th Forum discussed the implementation of the OECD Due Diligence Guidance for Mi nerals to enable responsible mineral production and sourcing. Among the 700 attendees was the ICA delegation comprised of Stephan Reif, Philippe Scordia and Jean Claude Michelou of ICA’s Compliance and Sustainability Committee. Discussions centered on several topics including establishing a global platform for artisanal and small-scale mining and new ways to promote responsible artisanal mining.
De Beers to Pilot Program on Artisanal and Small-Scale Diamond Mining
The De Beers Group announced that it is preparing to pilot a program called GemFair to create a secure and transparent route to market for ethically-sourced artisanal and small-scale mined (ASM) diamonds. GemFair is partnering with the Diamond Development Initiative (DDI) for the pilot.
$1.2 Billion In Loans to Gitanjali Group To Be Declared Bad by 21-Bank Consortium
Mehul Choksi, Gitanjali Group principal, has been untraceable since December 2017 and the group's loans have now to be declared NPAs by all the banks in the consortium.
Gemfields Sued Over Alleged Human Rights Abuses
More than 100 Mozambicans allege serious human rights abuses on or around the  Montepuez Ruby Mine , which is owned by Gemfields Limited’s Mozambican subsidiary, in which it holds a 75% controlling stake. Gemfields denies the allegations.
Highlights from March Hong Kong Show
Hong Kong has definitely become the capital of global gem and jewelry shows. Now, the March show can claim the title of the world’s largest jewelry marketplace featuring lots of color and lots of creativity.
3.09-ct Blue Diamond Ring Fetches $5.4 Million at Christie's New York Auction
A platinum ring, set with a 3.09-carat emerald-cut fancy intense blue diamond flanked on either side by a tapered baguette-cut diamond, went for $5.4 million at Christie’s New York on Tuesday.
Chopard Commits to Ethical Gold
Chopard has publicly committed to what the watch industry describes as “impossible” or “extremely difficult”, i.e. to use only ethical gold for its watches and jewelry, starting from July this year. The Swiss brand has also announced that it is looking into the ethical sourcing of colored gemstones.
Finalists Announced in Saul Bell Awards
The Saul Bell Design Award, organized and presented by Rio Grande, has announced the 45 finalists of the 2018 competition. Selected from 83 submitting countries, the finalists are from America to New Zealand and represent lots of color and creativity.
Colored Gemstone Miner Fura Gems Plans to Bid for Diamond Mining
Canadian stock exchange-listed, Fura Gems Inc, plans to bid for diamond mining at Bunder in Madhya Pradesh, India. The State government is expected to call for bids in the next two months.
Contrast in Luxury: Rolex Wins, Tiffany Loses
Market researcher Pamela N. Danziger compares two global icons and how they stack up in terms of their reputation, social media marketing and customer perception in the world of luxury.
The Hope Diamond Makes More News
Recently, amazing news about the famous gem was revealed during the celebration of the 20th anniversary of the opening of the Janet Annenberg Hooker Hall of Geology, Gems and Minerals, at the Smithsonian.