Headlines

ALROSA Signs Deal For Stake in Angolan Diamond Deposit

Sergey Ivanov, ALROSA President, and Antonio Carlos Sumbula, President of Endiama, Angola's national diamond company, signed a deal to give the Russian miner a stake in the Luaxe diamond deposit. Ivanov said the mine has a value of more than $35 billion.

“The Luele pipe is the largest of all those discovered worldwide over the past 60 years since the discovery of deposits in Yakutia," Ivanov said. "As a specialized investor in the Luaxe project, ALROSA, which has relevant professional competence, will assume obligations for the new company’s project solutions and technical policy. The total commercial value of the deposit is assessed as over $35 billion."

Gareth Penny-Led Group To Buy Firestone Diamonds Botswana Operations

Firestone Diamonds plc has signed a conditional option agreement for the potential disposal of its Botswana operations with a group of private investors led by former De Beers Diamond Trading Company CEO Gareth Penny and Diacore Diamond Group (PTY) Limited, a multinational diamond company with diversified interests in the diamond industry.

The agreement includes its interest in the BK11 mine, to Amulet Diamond Corporation for a total potential cash amount of $5.1 million.

Gem Diamonds' Latest Recovery 98.42-Ct, D-color, Type II Diamond

The Letseng mine in Lesotho has provided Gem Diamonds with another exceptional recovery: a 98.42-carat high quality D-color Type II diamond. The mining firm said it will be sold in June.

The announcement was part of a trading update for the first quarter of 2017 when the company sold 39,950 carats of rough stones for an average price of $1,636 per carat for the first three tenders of 2017. The figure is up 13 percent from $1,444 per carat from the fourth quarter of last year.

Hong Kong Dealers Face Random Synthetics Checks

Hong Kong’s diamond-promotion body plans to start checking wholesalers’ inventory for synthetics, as part of a program aimed at boosting consumer confidence and giving retailers better peace of mind.

The Diamond Federation of Hong Kong, China (DFHK) has been scrutinizing retailers’ inventories through the Natural Diamond Quality Assurance (NDQA) Mark since early 2015. Jewelers who sign up for the scheme are subject to laboratory tests of a random sample of their diamond jewelry, both when they join and during the annual renewal process. In return, they can display the program’s quality symbol in their stores.

Three Reasons Millennial Couples Are Ditching Diamonds

Millennials aren't as interested in buying diamonds as their Baby Boomer counterparts — and an increasingly agitated diamond industry is trying to win them over, reports CNBC.

 

Stornoway: 1 Million Carats Produced at Renard

Stornoway Diamond Corp said it has now produced 1 million carats of diamonds at the Renard diamond mine in Quebec.

President and CEO Matt Manson commented: “Today’s news represents another important milestone in our production ramp-up at Renard. The one million carat threshold comes, coincidentally, at the same time that the first polished diamonds from the mine have become available for sale in Montreal.”

Israeli Industry Leaders Hold Talks With Bruce Cleaver, Paul Rowley

Israeli diamond industry heads met with a senior delegation from the De Beers Group, headed by CEO Bruce Cleaver.

Executive Vice President ,Global Sightholder Sales, Paul Rowley accompanied Cleaver in the discussions.

India’s Posts Strong Rise In Polished Diamond Exports In March

India's polished exports rose by 10 percent on the year in March to $1.87 billion.

Meanwhile, polished exports for April 2016 to March 2017 also soared by 10 percent to $22.8 billion, the country's Gem & Jewellery Export Promotion Council (GJEPC) announced.