This marks the completion of the production ramp-up of the underground mine.
Stellar Diamonds, a junior diamond explorer and developer, announced that it had delayed its first sale of diamonds recovered from its Baoulé project in Guinea to later this month.
U.S noted an increase in the value and volume of its polished diamond imports in November 2012.
Despite nagging high unemployment and other negative influencers, American consumers are still shopping. Last year, one of the benefactors of their spending was the U.S. jewelry industry, which posted solid sales gains versus total retail sales gains for all categories. U.S. jewelry and watch sales combined set a record high in 2011 of $68.3 billion.
The month of May delivered 44% drop (on yearly basis) in India’s polished diamond exports which is valued at $1.245 billion, while the volume of exports declined 50% to 2.574 million carats.
Indian firms that have borrowed funds from overseas banks would now have bear a higher burden for discharging their debts. Moreover, the diamond industry is dependent on import of rough diamonds and depreciation of rupee would push up the import cost even when prospects for exports of polished diamond might remain uncertain.
De Beers released the 2011 Report to Society, in which Chairman Nicky Oppenheimer, summarized the efforts of the diamond company and its contributions towards the cause of beneficiation.
The World Federation of Diamond Bourses (WFDB) President Avi Paz stressed his commitment to the recent alert by Diamond Trading Company and IGI regarding identification of synthetic diamonds and their disclosure.