Rising demand for diamonds and falling supply have boosted prices to within a few percentage points of their pre-recession peak, according to Harry Winston Diamond Corp chairman and co-CEO Robert Gannicott.
The firm owns 40 percent of the Diavik diamond mine in Canada’s Northwest Territories with mining giant Rio Tinto owning the rest.
POSTED BY The Editor on April 8th in General News
read morePOSTED BY The Editor on March 18th in General News
A fabulously valuable diamond field in Zimbabwe has fallen under the control of a select few at the top of the country’s security forces. It is feared they intend to use the wealth to enrich themselves and entrench their power as the battle for succession to President Robert Mugabe, 85, heats up.Sources close to the government said the military chiefs had positioned themselves to profit from millions of pounds’ worth of diamonds flowing out of the Marange diamond field in the east of the country.
Heavy mining machinery has arrived, capable of extracting thousands of carats of diamonds an hour. Valuations vary wildly but one source said: “It will be much more money than they have ever had. We could be talking about between $25m [£15m] and $100m a month. It is extraordinary what they can do with that. They will just close ranks and do what they want.”
POSTED BY The Editor on March 2nd in General News
Sotheby’s will auction next month a rare, large blue diamond that was once part of the legendary De Beers Millennium collection, with fierce bidding expected on the $4.6-$5.8 million estimate price.
POSTED BY The Editor on March 1st in General News
CIBJO’s Diamond Commission made a momentous decision today, by voting to accept descriptive terms other than “synthetic” for diamonds grown in a non-natural setting. The decision, which was made at the 2010 CIBJO Congress in Munich, brings the organisation in line with the position adopted earlier by other major industry groups.
POSTED BY The Editor on March 1st in General News
London: Gains in rough diamond prices may slow in 2010 after surging in the second half of last year as producers increase output of the gems, according to Petra Diamonds Ltd. Chief Executive Officer Johan Dippenaar.
POSTED BY The Editor on January 8th in General News
“Baron” Baretzky, the former Chairman of CozDia International who has resigned in June last year has accepted the post as CEO of DiaLab South Africa. He said in an interview that this is to maintain an objective view of diamond grading as it would be a conflict of interest to be directly related to any sales or trade in Africa. He explaines that Africa needs an objective view and therefore he has no interest in participating in any sales or deals in Africa. This brings a surety to the dealers and interest of many whom has perhaps spread some anecdote about this issue.
POSTED BY The Editor on December 12th in General News
The 105-year-old Antwerp Diamond Bourse - Beurs voor Diamanthandel - is to launch a revolutionary initiative with an exclusive, by-invitation only diamond trade fair in the bourse trading hall, February 7-9, 2010.
POSTED BY The Editor on December 12th in General News
A 39-carat, D color diamond from India’s famed Golconda mines called the “Evening Star” fetched $5.4 million at Christie’s, the latest in a line of remarkable diamonds to dazzle at auction.
POSTED BY The Editor on December 5th in Consumer Alert, General News
DiaLab Pty Limited is the first Forensic Diamond Laboratory in South Africa to focus on Carbon Fingerprinting of Diamonds in their certification. They officially opened in September this year and the word already has its place that they are “too strict” or lets us rephrase, “too correct” in their grading of Diamonds.
POSTED BY The Editor on December 5th in General News
The State Diamond Trader is not delivering and the State Diamond Trader’s team is ineffective, the Diamond Council of South Africa says in a hard-hitting statement. The State-owned State Diamond Trader was created by the South African government to add value in South Africa to 10% of the diamonds mined in South Africa.
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