Newswire

By JCK Online Staff -- JCK Online, November 1, 2008

The Indo Argyle Diamond Council will close in December after 15 years in operation, according to a statement by MVI Marketing, which owns the program. Marty Hurwitz, chief executive officer of MVI, said the program accomplished its goals by raising awareness in the U.S. market of India's jewelry manufacturing capabilities.

Moissanite maker Charles and Colvard has signed an agreement with Cree, its primary supplier, to suspend the commitment to purchase $710,000 of silicon carbide (aka moissanite) during the fourth quarter 2008. The company said it has adequate inventory on hand to meet sales demand. This purchase commitment will be added to the company's 2009 purchase commitment with Cree.

The Tom LantosBlock Burmese JADE Act of 2008 took effect in September. The law bars importation of jadeite and rubies of Myanmar origin into the United States, notwithstanding “substantial transformation” in Thailand or elsewhere. For a detailed list of these new tariff codes, contact Jewelers Vigilance Committee. The ban does not apply to Burmese jadeite or rubies imported for personal use and does not address U.S. sales of Burmese jadeite or rubies currently in the United States.