Russia’s State Precious Metals and Gemstones Repository (Gokhran) sold $55 million in uncut diamonds weighing 10.8 carats or more at a September 12 auction, the Gokhran told Interfax.

The Gokhran earlier said it sold 91% or 475 of the 536 lots it offered at this, its first auction of 2006.

The repository said on September 28 that it sold 27,500 carats after offering 30,000 carats in diamonds, and that 30 of the 38 firms that bid at the auction bought diamonds.

The second and last such auction of this year will take place late October or early November.

In celebration of “Charles Fritz: An Artist with the Corps of Discovery,” the Charles H. MacNider Art Museum has schedled its Denim & Diamonds Gala on Saturday, Oct. 14, beginning at 6:30 p.m.

The gala provides an opportunity for the public to meet and interact with the guest of honor, Charles Fritz.

The evening will be filled with champagne and gourmet hour d’oeuvres.
The music will be a blend of jazz, Dixie, and a little bit of country. Men are encouraged to wear tuxedo jackets with the jeans and boots.

Women should wear whatever strikes their fancy, but they are encouraged to wear as much jewelry as possible. Read more » »

Jeweler Peter Spinelli is slapped with a 20 count indictment for allegedly selling fake diamonds to a number of customers. 50 year old Peter Spinelli faced a judge in Albany County Court Friday morning arraigned on a number of felony charges for the first time.

A couple from Colonie that bought some of those fake diamonds says they’re very happy to see the additional charges brought against Spinelli, a man they say did a lot of damage.

Lena Scaringe and her husband Anthony of Colonie are glad to see justice was served.

Lena Scaringe said, “How could he do that to so many people? So sad, I saw men crying.”

Friday morning Peter Spinelli, the man accused of selling them bogus diamond earrings and selling dud diamonds to many others was arraigned on nine counts of grand larceny, ten counts of petit larceny and one count of tax evasion. Read more » »

After a successful seven-month test launch with Clive Ranger, an upscale jewelry retailer in South West England, Marjan Diamonds NV announces a roll-out of distribution of its CanadaMark(TM) diamond brand NENOIR(TM) to several other select UK retailers.

“We selected Clive Ranger for the test launch because the retailer is known as ‘the diamond ring specialist’ in Southwest England,” Ali Nasser, Director of Marjan Diamonds said. “After a successful launch, we’re excited to expand our distribution network.”

Clive Ranger’s joint managing director, Richard Slack, said the company was delighted to be the first UK retailer to launch the brand and finds that consumers are receptive to this unique product. Read more » »

“Conflict diamonds” sold illegally to finance civil wars, may be making their way into the United States, despite an international pact to end trade in the gemstones, the
Government Accountability Office said on Wednesday.

The United States, the world’s largest consumer market for diamond jewelry, does not inspect rough diamond imports to certify their origins, a GAO report said. It added that because of spotty statistics on diamond imports and exports, the country is “still vulnerable to illicit trade of rough diamonds.”

Over the last decade, sales of diamonds have bankrolled violent factions in countries such as Liberia, Sierra Leone, the Democratic Republic of the Congo and Angola. These unpolished and uncut stones became known as “conflict diamonds.” Read more » »

European mining stocks may rise after gold prices gained and China said economic growth will accelerate this year. Rio Tinto Group and Anglo American Plc might lead the advance.

“Metal prices have moved significantly higher which should help the mining companies,” said Simon Denham, a director at London Capital Group. “We see Rio and Anglo opening a little higher because gold has held above $600” an ounce.

Antofagasta Plc may gain after Deutsche Bank AG recommended investors buy shares of the copper mining company. Havas SA, the world’s sixth-largest advertising company, might decline after reporting a drop in first-half earnings. Read more » »

The Bermuda-registered company Zambezi Nickel Ltd has signed a contract with the metals giant BHP- Billiton under which Zambezi Nickel will acquire two prospecting licences in the central Mozambican province of Manica.

The agreement concerns the Mavita Nickel Project, 56 kilometres from the Manica provincial capital, Chimoio. BHP- Billiton is to transfer title to the two Mavita prospecting licences to Zambezi Nickel which will then be the 100 per cent owner and operator of the project.

According to a press release from Zambezi Nickel, it has agreed to spend at least 150,000 US dollars on the project over the next 18 months. BHP-Billiton retains the option to “clawback” the entire project any time after a threshold of 200,000 tonnes of “contained nickel equivalent metal” has been reached. Read more » »

The New York Jets learned how costly it can be to overlook Cortland Finnegan when he is lined up at nickel back.

With just over six minutes to play in the opener and the Jets on top by eight, quarterback Chad Pennington did not see Finnegan come on a blitz. Neither did anyone else. As a result, Finnegan got to the pocket untouched, sacked Pennington and forced a fumble. Five seconds later the Tennessee Titans tied the score.

Chances are that future opponents won’t make the same mistake.

“People could end up turning to our nickel back, where he lines up and they adjust the alignments and things,” Fisher said. “We’ll watch it and we’ll adjust. That’s the fascinating part of our third down package, how we approach those with the different players.

Read more » »

Cia. Vale do Rio Doce, the world’s No. 1 iron-ore producer, expects to receive regulatory approval from Europe and Canada for its $17.3 billion takeover of Canada’s Inco Ltd., the world’s No. 2 nickel miner, by Oct. 16, allowing it complete the agreement without further delay.

Rio de Janeiro-based Vale has also received $30 billion in offers from banks to help finance the purchase since it made the offer in August, said Roger Agnelli, 46, Vale’s chief executive office, at a ceremony to mark the opening of the opening of a ThyssenKrupp steel mill in the suburbs of Rio de Janeiro. Read more » »

Seattle goes small to disrupt opponents’ three-receiver sets

One of the defensive tackles really isn’t. He’s an end, and Bryce Fisher is a 268-pound end at that.
Same thing with the ends, who are actually 235-pound linebacker Julian Peterson and 265-pound rookie Darryl Tapp.
The secondary includes a left cornerback — 178-pound Kelly Jennings — who has been dubbed “Slim” by his teammates.

In the middle is that “runt” from USC: linebacker Lofa Tatupu, all 238 pounds of him.
Welcome to the Seahawks’ disruptive, if somewhat diminutive, nickel defense.

“It’s a strange defense, in that all of a sudden we get real small out there,” Fisher said. “But it lets us chase down a lot of plays.” Read more » »