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Trading activity improves at cutting centers. Jewelry retailers report strong Christmas performance for Nov-Dec with Tiffany & Co sales +17%, Signet +7%, Birks & Mayors +6%. Zale Corp CEO Neal Goldberg steps down after Christmas sales lag behind competitors (-15%). Michael Hill Int’l FY1H sales +8% to $179m. Rio Tinto 4Q rough production -35% to 4.5m cts, full year production -33% to 14m cts. Petra Diamonds 1H revenues +43% to $48m, gross rough production +12% to 615K cts. U.S. Nov. polished diamond imports +10% to $1.2b, polished exports -3% to $951m. Belgium Dec. polished exports +13% to $780m, rough imports +100% to $484m, full year ’09 polished exports -30% to $8.6b, rough imports -39% to $2.4b. Lazare Kaplan to open Israel office. GIA to purchase 30,000 square foot space in new International Gem Tower in New York. Chinese authorities bust major diamond smuggling ring, detain 50, including 21 Indian nationals.

Source: Diamonds.net
http://www.diamonds.net/News/NewsItem.aspx?ArticleID=29403

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