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A court has awarded a limited victory to De Beers’ synthetic-diamond production unit in a patent dispute with Singapore-based grower IIa Technologies. IIa infringed an Element Six patent related to diamond material that’s usable for lab-grown diamond jewelry and industrial applications, according to a High Court of Singapore judgment Friday. However, another Element Six patent … Read more
Indian diamond traders purchasing rough precious stones from major Russian miner Alrosa could be eligible for loans from Russian banks, as domestic lenders have reduced financing for the gem and jewelry sectors. Russian banks have already started granting money to Alrosa’s foreign clients, according to the Economic Times. The measure could boost India’s diamond industry, … Read more
Lucara Diamond Corp. has unearthed a 549-carat white diamond at its Karowe mine, the fourth-largest stone in the history of the Botswana deposit. The unbroken stone, which is of “exceptional purity,” is the first large diamond Lucara has recovered using its Mega Diamond Recovery (MDR) equipment, the miner said Wednesday. The unit, which the miner … Read more
Gem Diamonds Limited has announced the discovery of an exceptional 183-carat white Type IIa diamond from the Letseng mine in Lesotho on February 3. The miner also announced that it also recovered two different high quality diamonds, one of 89 carats and the other of 70 carats, from the mine. The Letseng mine is the … Read more
The Zimbabwe Consolidated Diamond Mining Company (ZCDC) failed to meet its 2019 target of 3 million carats, but officials are buoyant fortunes will turn around as the firm has consolidated its investments in exploration, mining and processing to improve output this year. Speaking durng a media tour of Chiadzwa diamond fields on Friday last week, … Read more
De Grisogono has filed for bankruptcy shortly after being caught up in an alleged money-laundering scandal involving the daughter of Angola’s former president and her husband. Last week, media reports stated Isabel dos Santos’s husband, Sindika Dokolo, bought a stake in the Swiss luxury jeweler together with Angolan national diamond-trading company Sodiam through a Malta-based … Read more
Graff-owned diamond manufacturer Safdico will cut and polish a portion of rough from the Lulo mine through a partnership with Lucapa Diamond Company. Safdico will have the rights to buy up to 60% of Lulo’s annual rough production under the terms of Angola’s new reform program, which went into effect last year. The new guidelines … Read more
Crystal brand Swarovski introduced 16 new synthetic-diamond colors at Paris Haute Couture Fashion Week. The new hues fall into four creative categories in which Swarovski claims to play a role, it said last week. Each of the four areas — fashion, art, music and architecture — includes four colors of cushion-cut lab-grown diamonds. Every category … Read more
De Beers plans to abandon its practice of using sightholders’ purchase history as the main factor in determining how it allocates rough supply, sources have told Rapaport News. The move, which would go into effect from 2021, would see the miner shift to more subjective criteria for deciding the value of goods each client receives. The … Read more