Diamond Intelligence Briefs

Richland revenues down due to illegal tanzanite mining

Gemstone producer and developer, Richland Resources (formerly TanzaniteOne) said its revenues for the first half of the year 2012 fell 19 percent to $8.4 million compared to $10.4 million in the previous corresponding period.

Zimbabwe PM Party to renegotiate diamond deals with China

Zimbabwe Prime Minister Morgan Tsvangirai's MDC party says it will renegotiate all transactions agreed upon between the ruling ZANU PF party and foreign investors such as China, particularly on controversial issues like the Marange diamond fields, repo...

India's new tax measures may impact global diamond demand

With diamond jewelry demand booming in India, the phenomenal rise of domestic consumption has somewhat compensated for the decline in diamond jewelry demand in the traditional markets, especially the United States.

Platinum-based diamond jewelry to grow in India in 2012

Diamond-jewelry manufacturers in Gujarat say they are increasing their focus on platinum given that frequent price fluctuations in gold and silver are driving India's jewelry consumers to turn toward platinum-based jewelry.

NEIMAN MARCUS LAUNCHES FOREVERMARK DIAMOND COLLECTIONS

U.S. specialty retail department store Neiman Marcus has announced that beginning this week ten of its stores will carry three Forevermark Collections created exclusively for Neiman Marcus as part of the U.S. launch of De Beers' Forevermark diamond...

SRDSIL SECURES LONG-TERM SUPPLY OF ALROSA ROUGH WORTH $5.2 MILLION A MONTH

The Surat Rough Diamond Sourcing India Limited (SRDSIL), a consortium formed in August 2010 by more than 1,500 diamantaires to directly source rough diamonds, says it will be selling US$5.2 million worth of rough diamonds directly sourced from Russian...

REPORTS: ALROSA IPO MAY HAPPEN IN LATE 2012-EARLY 2013

Russian diamond conglomerate Alrosa may make an initial public offering (IPO) in late 2012 or early 2013, Russian media sources report, citing the company's CFO and Vice President, Igor Kulichik. Alrosa management is currently holding talks with it...

Israeli Diamond Explorer Listing on Tel Aviv's Stock Exchange

Israeli diamond-exploration company Shefa Yamim will merge itself with the publicly listed Israel-based real estate company Aloni Meitar in a reverse takeover. This has become apparent from a formal notification submitted to the Tel Aviv Stock Exchange...

Israel's diamond trade sees doubled-digit growth in Q3

Israel's diamond industry has continued to show growth during the third quarter of 2011, according to figures published by the Ministry of Industry, Trade and Labor's Diamond Controller Shmuel Mordechai. The figures show double-digit growth in ...

Shear Diamonds recovers first 200 carats at Jericho, Nunavut

Shear Diamonds Ltd. (TSX VENTURE:SRM) today announces the recovery of the first 200 carats of diamonds from trial tests performed in the recently restarted recovery portion of Shear’s 100% owned Jericho Diamond Mine, Nunavut. In addition Shear has completed a new geological interpretation and 3- D Model for the Jericho Kimberlite Complex.

Mbada overtakes Murowa as Zimbabwe's biggest producer

Mbada Mines (Pvt) Ltd, which operates in Zimbabwe's Marange diamond area, is producing more than 150,000 carats a month, surpassing Rio Tinto's Murowa mine as the country's largest diamond producer, according to the firm's chairman, Robert Mhlanga. Rio Tinto's Murowa diamond mine produced 178,000 carats in 2010 and 125,000 in the first half of 2011.

WFDB President calls on diamond trade to be positive ahead of Hong Kong show and holiday sales season

"As the pace of polished sales is now set in the major Asian markets, in particular in China and India, we have good reason to be optimistic about significant growth in those markets. We are hearing positive forecasts for the upcoming fairs and I expect

Debut diamonds commences airborne geophysical survey over Ontario claim

Canadian development company Debut Diamonds Inc reports that Tundra Airborne Surveys Ltd. has mobilized to commence a high-sensitivity/high-resolution airborne magnetic survey over its 229 square kilometer claim block immediately to the north and west of

Diamond Federation of Hong Kong holds bourse elections

The Diamond Federation of Hong Kong, China Limited has announced its Executive Committee for 2011 through 2013, naming LEUNG, Sik Wah as honorary life president, MA, Y.Y. Lawrence as president and CHOW, W.S. Winston as Chairman. Other appointments

BBC: torture in Marange Diamond Fields

Stephane Chardon, the Chair of the Kimberley Process Certification Scheme's (KPCS) powerful Working Group on Monitoring (WGM), convened an emergency teleconference this week a day after the airing of BBC's Panorama investigative television program

DBCM faces workers' strike over wage disputes

Members of South Africa's National Union of Mineworkers (NUM) employed by De Beers Consolidated Mines (DBCM) began striking on Friday evening after wage talks between the two parties failed earlier in the week. Eighty percent of the company's workers are

Zimbabwe government rejects all 175 foreign miners' empowerment plans

The government of Zimbabwe has rejected all 175 of the empowerment proposals submitted by foreign-owned mining companies operating in the country, threatening to "kick them out" if the don't revise the plans, according to SW Radio Africa. The

Namibia's diamond sector exempt from planned mining tax hike

Namibia's Ministry of Finance has announced plans to raise its mining tax by 17 percent, though the increase will not apply to the diamond sector. The ministry said in a statement that the mining tax will be raised from 37.4 percent to 44 percent