Diamond Top Stories

Dominion Diamond upbeat on ‘positive’ pre-feasibility study for new Sable mine

The Sable kimberlite pipe, for which permitting is already in…

Zimbabwe orders diamond miners to halt operations

Companies have been told to leave behind equipment and vacate…

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India set to overtake US in diamond jewellery sales

The Rapaport Group, global manager of diamond data and international group of companies, has given a thumbs up to India, the world's largest importer of diamond roughs. With the country's polished diamond exports rising 6% year-on-year to $2.04 billion in April 2011, the agency has forecast that India will overtake the United States and become the biggest consumer market for diamond jewellery over the next three years.

Eager to fend off China, India seeks diamonds from Zimbabwe

India, the world's largest diamond processing market, is in a bind. The country that imported close to $7.5 billion in rough diamonds last year has not been able to shake off the embargo on the import of diamonds from Zimbabwe. Traders maintain that this has left the door wide open for more imports into China. In a bid to crackdown on reports that conflict or blood diamonds are being smuggled into India and laundered there, the Indian government had earlier blocked the import of roughs from Zimbabwe.

Diamonds North acquires property with high gold grades in multiple drill holes

Diamonds North Resources acquired 100% interest in the Esker gold property in Nunavut. The Esker claim covers several kilometres of gold bearing stratigraphy. Drill intercepts of gold mineralization are as high as 8.2 g/T gold over 13 metres, including 17.7 g/T gold over 5.7 metres; and, 2.4 g/T gold over 71 metres which includes several high grade zones (see table below). For a video presentation on this project visit our website www.diamondsnorth.com. "This low cost staking puts us into a project with wide zones of high grade gold mineralization and significant tonnage potential. As only a small portion of the zone has been tested, our objective is to drill along strike of the known mineralization along the host gabbro units to expand the gold-bearing mineralized zone," says Mark Kolebaba President and CEO of Diamonds North.

Memories of Great Recession fading as diamonds fetch record prices

Two reports this week suggest that fears of a prolonged period of global economic austerity following the financial crisis have been overblown. In Hong Kong Christie's experienced its best ever auction with buyers spending $469m on wines, antiques, art and particularly jewellery. At $9,342,219, the pictured pair of Golconda diamond ear pendants – dubbed the Imperial Cushions – set an all time record price per carat. At the other end of the scale prices have also been rising at a rapid rate. Demand for one carat and smaller stones from India and China pushed the International Diamond Exchange's polished diamond index to a new record in May surpassing the previous record level achieved in the pre-recession summer of 2008 and up 12.5% so far this year.

Star Uranium Corp. and United Uranium Corp. complete ground magnetic survey on Fort a La Corne diamond properties

United Uranium and Star Uranium announced that they have completed a ground magnetic survey on their Fort a la Corne diamond properties. The Claims are situated immediately adjacent to the eastern border of the Shore Gold Inc. Fort a la Corne project. The survey was completed by Apex Geoscience of Edmonton, Alberta, and included an analysis of the jointly held Fort a la Corne diamond properties in Saskatchewan.

Stornoway announces exploration drill program at Hammer property, Nunavut

Stornoway Diamond announced plans for an upcoming exploration drill program at the Hammer Property located within the Coronation Gulf/North Slave Diamond District of Nunavut. The Hammer Property is a joint venture between Stornoway (75% and operator) and North Arrow Minerals Inc. (TSX VENTURE:NAR) (25% participating) and hosts the Hammer kimberlite, which was discovered by prospecting in July 2009.