Industry News

June 29, 2017

Botswana’s gross domestic product (GDP) grew 4.3% in 2016, mainly due to an improvement in the nation’s diamond trade, the Bank of Botswana said last week.

An increase in wholesale activity by diamond companies operating in Botswana, such as De Beers’ Global Sighthold...

June 29, 2017

Petra Diamonds Limited said that due to a slower than anticipated build-up of its expansion at its operations, production is now estimated to be around 8-9 percent lower than its previous guidance of approximately 4.4 million carats for the year ended 30 June.

As a resu...

June 29, 2017

Botswana's Debswana Diamond Mining, a joint venture between De Beers and the southern Africa country's government, plans to extend the lifespan of its Jwaneng mine beyond 2024, reports Reuters Africa, citing a mines minister.

The project, known as "Cut 9", has been und...

June 29, 2017

Mountain Province Diamonds recorded its highest average price to date as it garnered $21.1 million at its June sale.

The fifth tender of rough from the company’s Gahcho Kué mine fetched $95 per carat, compared with $72 per carat in the first three sales and $86 per ca...

June 29, 2017

The Ministry of Mines, Energy and Hydraulics of the Central African Republic (CAR) has issued a press release categorically rejecting the allegations contained in Global Witness' report, "Game of Stones", which detailed the NGO's investigation into diamond smuggling fr...

June 29, 2017

Diamond markets quiet, with select demand for better-quality SIs. Hong Kong show signals improving sentiment among jewelers, but dealers cautious. Rough market stable, with limited De Beers supply supporting prices that are reducing cutters’ profit margins. Manufacture...

June 26, 2017

In ABN AMRO's lastest iteration of the biannual Diamond Market Outlook, Coordinator FX & Precious Metals Strategy Georgette Boele writes, "The recovery in the diamond trade has grinded to a halt at the start of 2017", as US consumer spending has been disappointing in Q...

June 26, 2017

Diversified mining giant Rio Tinto has signed an option agreement which could potentially make it the majority owner of the Star-Orion South Diamond Project near Prince Albert in Canada that has been developed for many years Shore Gold Inc.

A feasibility study released...

June 26, 2017

Israel Diamond Exchange (IDE) President Yoram Dvash and Chairman of the Israel Diamond Institute (IDI) Shmuel Schnitzer have held a meeting with Sergey Ivanov, President of ALROSA.

It is the first meeting they have held with Ivanov since he became head of the Russian mi...

June 26, 2017

Smugglers are using social-media platforms such as Facebook and WhatsApp to get diamonds out of the Central African Republic (CAR) and into international markets, Global Witness claimed in a report last week.

A representative from the organization posed undercover as...

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