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World Diamond Council President Polyakov Resigns; Fischler Takes Over

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The World Diamond Council (WDC), an industry group focused on removing conflict diamonds from the global supply chain and protecting the value of natural diamonds, announced on Wednesday that current president Andrey Polyakov will be resigning by the end of the week. Current WDC Vice President Stephane Fischler will become acting President effective July 1. […]

IDE Sets Up Diamond Industry Tech Start-Up Centre

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The Israel Diamond Exchange (IDE) has opened a technological incubator for Israeli and international diamond-related start-ups. Called the Diamond Tech Innovation Centre, it will provide a home and financial support for start-ups that are in the initial stages of development. Through this initiative the IDE plans to promote new technologies for diamonds in the broadest […]

Diamonds Still Dominate, But Services Now Drive Botswana Growth

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While rough diamonds still account for 74 percent of Botswana’s total exports, and mining is still an important component, the country’s economy is increasingly a services-driven one, with the real growth coming from financial business services, hotels and restaurants and tourism, Keith Jefferis, the former Deputy Governor of the Bank of Botswana and currently the […]

De Beers To Play Middle Man in Exceptional Polished Diamond AuctionsDe Beers To Play Middle Man In Exceptional Polished Diamond Auctions

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De Beers announced that it will play a Pay Pal-style role in brokering third party sales of exceptional diamonds on its Auction Sales platform. According to a De Beers press note, De Beers Auction Sales will employ its platform governance rules to facilitate transactions, ensuring they flow smoothly, and reduce counter-party risk as both buyers […]

Signet Q1 Same Store Sales Slide 11.5%; Outsources Customer Credit

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Signet Jewelers Limited announced that same store sales declined 11.5 percent during the first quarter of fiscal 2018 — the 13 weeks ended April 29, 2017. Signet attributed the slide to the later timing of the Mother’s Day holiday. The financial impact of Mother’s Day is typically split between first quarter and second quarter. However, […]

De Beers Announces 2 Million Forevermark Inscriptions

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De Beers today announced that its Forevermark diamond brand has inscribed its two millionth diamond. The diamond is a 3.48 carat round brilliant and bears the unique inscription of ‘2,000,000’. The diamond was mined, cut and polished in Namibia and inscribed at the Forevermark Diamond Institute in Surat, India. It will be set in a […]

Gemfields, Lucara, Aurora & ARM Get Chopard Responsible Supply Award

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Caroline Scheufele, co-president and creative director of Swiss luxury watch and jewellery company Chopard, honoured mining companies and NGOs that have upheld its social and environmental values and provided product for its Green Carpet Collection initiative. Those honoured were Gemfields, which majority-owns the Kagem emerald mine in Zambia; Lucara, which owns the the Karowe diamond […]

ALROSA Gets Majority Stake In Angola Diamond Deposit Estimated At $35B

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ALROSA President Sergey Ivanov and Angolan national diamond company Endiama President Antonio Carlos Sumbula signed and agreement giving ALROSA a 50.5 percent stake in Angola’s Luaxe diamond deposit. The deposit is the largest in Angola and Ivanov estimated it holds diamonds worth $35 billion. ALROSA has already been exploring for diamonds in the area and […]

Russian Govt. Investigating ALROSA Non-Core Asset Sales

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The Moscow office of diamond miner ALROSA is being investigated by Russia’s Federal Security Service (FSB) for sales of non-core assets between 2011 and 2013, reports Reuters. The state-controlled firm is the world’s largest producer of diamonds in carat terms and together with De Beers, accounts for half the world’s rough diamonds. During the tenure […]

CBI Files 6 Fraud Cases Against Winsome Diamonds, Jatin Mehta

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India’s Central Bureau of Investigation (CBI) on Wednesday registered six cases against Winsome Diamonds and Jewellery Ltd. and its associate firm Forever Precious Diamonds and Jewellery Ltd., as well as their promoter, diamond dealer Jatin Mehta, for alleged fraud and cheating of ₹1,530 crore ($235 million), involving bank loans of IDBI Bank, Central Bank and […]

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