Zimbabwe Mulls Ending Majority Local Ownership Rule on Diamonds

Zimbabwe may end a policy of foreign companies in the diamond and platinum sector handing over a 51-percent controlling interest to local citizens, said new President Emmerson Mnangagwa.

GJEPC Chairman Pramod Agarwal Applauds Gemstones Tax Cut

Pramod Agarwal, the Chairman of the Gem and Jewelry Export Promotion Council (GJEPC), has praised a decision by the India's Goods and Services Tax (GST) Council to slash the GST levy on cut and polished diamonds and precious stones to 0.25 percent from 3 percent.

ALROSA: We Will Auction Large Rough Diamonds At IDWI

ALROSA, a world leader in the production of gem-quality diamonds, will auction special large rough diamonds at the International Diamond Week in Israel (IDWI), organized by the Israel Diamond Exchange (IDE) from February 5-7.

ALROSA – Long-Term Diamond Supply Agreements Signed With 67 Clients

ALROSA has signed 67 long-term agreements with 65 companies for the sale of gem-quality and industrial rough diamonds for the new 2018-2020 contract period, the Russian miner announced.

US: 1,022 US Jewelry-Related Businesses Closed Down In 2017

More than 1,000 jewelry-related firms closed down in the United States last year, leaving 26,031 businesses in operation, according to the Jewelers Board of Trade (JBT).

De Beers: Output Up 5% In Q4 To 8.1 Million Carats

De Beers posted a five percent rise in rough diamond production for the fourth quarter of 2017 to 8.1 million carats, reflecting stronger trading conditions as well as the contribution from the ramp-up of the Gahcho Kué mine in Canada.

In Botswana, production increased marginally to 5.5 million carats. Orapa’s production increased 14 percent, mainly due to planned increases in plant performance, and the ramp-up of Plant 1, which was previously on partial care and maintenance in response to trading conditions in late 2015. This was partially offset by Jwaneng, where production decreased 15 percent due to expected lower grades.

Dan Gertler Placed on US Treasury Sanctions List

Israeli diamantaire and billionaire Dan Gertler has been placed on the US Treasury's Office of Foreign Assets Control (OFAC) sanctioned individuals list due to his business ties with President Joseph Kabila of the Democratic Republic of Congo (DRC).

ALROSA Inviting Design Solutions To Resume Production At Mir

ALROSA will hold a contest for design solutions to enable the resumption of diamond mining at the Mir mine where eight workers lost their lives in an accident in August.