Members of the jewelry industry are confident that US sanctions on Burmese gems will punish leaders of the Asian country’s military coup without damaging the trade. The Myanmar army seized control of the country on February 1. On February 11, US President Joe Biden’s administration banned US companies from transacting with three entities that, it … Read more
Diamond mining and marketing company Gem Diamonds is advancing innovative technologies that reduce diamond damage by extracting rock nonmechanically and being able to see diamonds in a certain size of rock, Gem CEO Clifford Elphick said on Thursday when the London-listed company reported positive operational and financial results, the Covid-19 pandemic notwithstanding. On revenue of … Read more
Israel’s diamond exports improved in February amid steady jewelry demand in key retail markets and the opening of a trade channel with Dubai, according to government data. Polished shipments out of Israel jumped 24% year on year to $251.6 million for the month, with volume increasing 20% to 122,784 carats, the country’s Ministry of Economy … Read more
Debmarine Namibia, a subsidiary of Anglo American’s diamond unit De Beers, on Monday reported a 13% drop in production to 1.125 million carats last year as demand slumped during the Covid-19 pandemic. Namibia has the richest known marine diamond deposits in the world, and is among the top 10 producers of gem-quality diamonds globally. Production, … Read more
Petra Diamonds has sold a 299.3 carat diamond recovered in January at its iconic Cullinan mine, in South Africa, to Belgium-based Stargems DMCC for $12.18 million. The exceptional Type 11a white gem-quality rock achieved a price of $40,701 per carat, which exceeds the $34,386/ct received for the 424.89 carat “Legacy of the Cullinan Diamond Mine” … Read more
The Duchess of Sussex wore the dramatic diamond earrings to a state dinner in Fiji, three weeks after the Saudi crown prince allegedly ordered the killing of journalist Jamal Khashoggi. Meghan Markle’s representatives hit back Tuesday at a bombshell news report that she faced an official complaint of bullying from several Kensington Palace staff members, … Read more
Alrosa will auction a 242.31-carat diamond in Dubai later this month, one of the largest gem-quality rough stones the Russian miner has unearthed in the past decade, it said Friday. The opening price will be in excess of $2 million. The March 22 sale will mark Alrosa’s 100th large-diamond auction. The company rarely trades Russian-mined … Read more
Lucapa Diamond Company has discovered a 114-carat white diamond from the Lulo alluvial diamond mine in Angola, Africa. The 114-carat Type IIa D-colour white diamond is the third diamond mined from Lulo’s mining block 46 (MB46) in the last eight weeks. Lucapa managing director Stephen Wetherall said block 46 was the best mined block to … Read more
De Beers recorded its first annual loss since the aftermath of the global financial crisis as rough sales and prices slumped during the Covid-19 pandemic. The miner’s underlying loss came to $102 million in 2020, compared with a profit of $45 million in 2019, parent company Anglo American reported Thursday. De Beers had not been … Read more