Headlines

De Beers CEO: Diamond Industry Malaise Will Pass

The current malaise in the diamond industry is serious, but it will pass, De Beers Group chief executive officer Bruce Cleaver told JCK following the release of the company’s financial results.

De Beers H1 Profits Slump As Consumer Demand Falls

De Beers reported that its total revenue decreased by 17% to $2.6 billion (30 June 2018: $3.2 billion), with rough diamond sales declining by 21% to $2.3 billion (30 June 2018: $2.9 billion).

De Beers Carbon Capture Project Receives Research Funding From Canada’s Clean Growth Program

De Beers Group’s carbon-capture research at the Gahcho Kué mine in Canada has received a funding boost following the award of a C$675,000 grant from Natural Resources Canada’s Clean Growth Program towards pioneering research in partnership focused on delivering carbon-neutral diamond mining.

Senior Indonesian Delegation Visits the Israel Diamond Exchange

Despite the fact the Israel and Indonesia do not enjoy full diplomatic relations, a delegation from the Indonesian Chamber of Commerce and Industry has visited the Israel Diamond Exchange.

The delegation, headed by Indonesian Trade Organization Vice President Mufti Hassan, was hosted by senior IDE members, headed by IDE President Yoram Dvash.

ALROSA Raises $6.5M At Vladivostok Rough Diamond Auction

ALROSA sold 112 gem-quality diamonds weighing 1,780 carats, with total revenue from the sale of stones amounting to $6.5 million at the international auction for special size rough diamonds (over 10.8 carats) held recently in Vladivostok.

Mountain Province Diamonds Inc. Reports Q2 Results

Mountain Province Diamonds Inc. 10,865,263 total tonnes mined, a 6% increase on comparable period (Q2 2018: 10,285,000).

882,374 tonnes of ore treated a 2% decrease from comparable quarter (Q2 2018: 899,000 tonnes).

De Beers Diamond Production Down 14% To 7.7 Million Carats In Q2

De Beers reported that diamond production decreased by 14% to 7.7 million carats in the second quarter, as it continued to produce to market demand and as Venetia transitions from an open pit to underground mine.

Rough diamond production decreased by 14% to 7.7 million carats driven by reductions in Botswana (Debswana) and South Africa (DBCM). Production guidance has been revised downwards to around 31 million carats, in response to weaker trading conditions.

Israel Diamond Week in Shanghai Set To Be Annual Event, Says IDE's Yoram Dvash

"As part of our efforts to promote the Israel Diamond Exchange, we, together with our partners on the Chinese diamond exchange, initiated the Israel Diamond Week in Shanghai, which is expected to take place every year," said Israel Diamond Exchange President Yoram Dvash.

The Shanghai Diamond Exchange, led by President Qiang Lin, hosted a delegation led by Israeli diamond companies, senior officials of the Israel Diamond Exchange and the President of the World Federation of Diamond bourses, Ernie Blom.