Diamond Top Stories

Lucapa reveals positive results from Lulo diamond project

The first stream bulk samples excavated had resulted in the…

Retail margins could be boosting man-made diamond sales

Despite the growth in the availability, it is estimated that…

Latest Stories

Zimbabwe may sue De Beers over ‘looting’ of diamond fields under international ban

Zimbabwe’s state-controlled Herald newspaper reported on Thursday the Harare government is investigating De Beers over claims it smuggled out gems worth "hundreds of millions of dollars" from the controversial Chiadzwa fields. De Beers spent eight years exploring the fields, but later claimed it had failed to find any meaningful deposits according to Zimabwe's deputy mines minister. Diamonds were found by villagers in Chiadzwa in 2006, leading to a frenzied diamond rush that was eventually crushed by the army. Zimbabwe's diamonds are the subject of an international ban although most industry watchers believe it is being widely flouted.

Diamonds lure insurance investor Cowdery as gems beat gold

Clive Cowdery, the Resolution Ltd. founder who made about $240 million buying and selling insurers, is betting on diamonds after prices rose five times faster than gold this year on surging demand from China and India. Cowdery, 48, is among startup investors in Diamond Capital Ltd.’s $20 million fund that will manage a portfolio of the polished gems valued at as much as $400,000 apiece.

NGO slams South Africa over role in diamond trade

South Africa's role in getting Zimbabwe's diamonds back into international trade is being slammed as "dangerous", amid revelations that government officials there have helped export millions of dollars worth of Zim diamonds. South Africa's State Diamond Trader officials admitted in parliament last week that they had helped Zimbabwe export diamonds from Chiadzwa, despite an international ban on the trade.

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De Beers Diamond Jewellers opens new store in Almaty, Kazakhstan

De Beers Diamond Jewellers, the ultimate destination for diamond jewellery, is delighted to announce the opening of its new store in Almaty, Kazakhstan. The De Beers store is located on Bogenbai Batyr, 125 in Almaty – the premier shopping location for luxury brands. The Almaty store will be operated by Premier Metro Group, whose core business is the retail and distribution of luxury goods including jewellery, watches, cars, high-end mobile phones as well as fine wines.

Fair trade gold glitters more brightly

The newest Fair Trade standard, gold and associated precious metals, made its debut a little more than a year ago. It promises to improve social and environmental conditions for millions of small and artisanal gold miners around the world.

Gazette: Feds launch study of Quebec diamond project

Quebec's first diamond mine took another step forward today, with the launch of the federal environment assessment process, The Montreal Gazette reports: The Canadian Environmental Assessment Agency is accepting public comment on the project, along with suggestions of environmental issues that should be considered in the comprehensive study of the project. Image of the Renard project, by Stornoway Diamond Corp.

$20 billion in diamonds and gold found at Indian temple

Investigators plan to pry open the final vault hidden deep under a centuries-old Indian Hindu temple as police guarded round the clock the shrine where billions of dollars worth of treasure has been discovered. Over the last week a seven-member team of investigators has broken into five of the six secret subterranean vaults piled high with jewels that have lain untouched for hundreds of years.

Antwerp diamond industry ties up with China

AFP reports the Antwerp diamond industry, world capital of the gem, on Monday announced an investment deal with leading Chinese bank ICBC, which could act as an intermediary to provide finance for diamond transactions in Antwerp. Around 80% of the trade in uncut diamonds and half of world trade in cut stones transits through the Flemish town, which is facing increasing competition, including from India.