Industry News

July 31, 2019

De Beers’ rough-diamond sales plummeted 53% this month as customers accepted the miner’s offer to defer purchases until the market improves. 

Weak polished demand and excess supply in the manufacturing and trading sectors have hurt sightholders’ appetite for rough goo...

July 31, 2019

Newfield Resources will start construction at the Tongo mine in Sierra Leone in the coming weeks, after its board approved final funding for the project. The first diamond production from the mine is expected 12 months after underground blasting begins, the company sai...

July 31, 2019

Yury Okoemov, one of Alrosa’s deputy CEOs and head of its diamond-cutting division, is leaving the Russian miner, the company said Tuesday. 

Okoemov has been with the Alrosa since 1993. After his departure, employees of the cutting business will report directly to Ser...

July 31, 2019

The Angolan government hopes that the return of licenses to more than 200 companies and semi-industrial diamond mining cooperatives in seven provinces of Angola will allow for the creation of at least 20,000 jobs, AndràButa , the national director of Mineral Resources...

July 31, 2019

The Israel Diamond Exchange (IDE), which earlier this month launched a global campaign to promote natural diamonds in cooperation with the World Federation of Diamond Bourses (WFDB), released the second video in the "We love natural diamonds" series.


The international...

July 31, 2019

On the 6th of October, the VOKA Open Bedrijvendag (Flanders’ Chambers of Commerce and Industry Open Company Day) will take place. It is the biggest one-day event in Flanders where hundreds of companies open their doors to the public for a special behind-the-scenes visi...

July 31, 2019

Firestone Diamonds saw a decline in sales during its fiscal fourth quarter due to a drop in demand for small, lower-value diamonds that make up the bulk of its supply. 

The company reported sales of $12.7 million for the three months that ended June 30, representing a...

July 29, 2019

New Flexibility Aims to Reduce Oversupply

De Beers loosened its purchasing requirements for rough buyers at last week’s sight in an effort to ease the oversupply affecting the diamond market. 

Sightholders have struggled to reduce their inventories due to an imbalance...

July 28, 2019

DMCC, the Free Zone and Government of Dubai Authority on commodities trade and enterprise has announced the completion of three rough and polished diamond tenders hosted between 16 and 23 July 2019 by the Dubai Diamond Exchange (DDE), a subsidiary of DMCC.


Over 200 com...

July 28, 2019

Berenberg downgraded Petra Diamonds Ltd as it is concerned that the miner will need an equity financing soon. The bank, which had upgraded Petra in April as planned deleveraging was expected to drive an equity re-rating, cut its rating back to 'sell.

Petra's latest quar...

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