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Stellar halts plans to acquire Tonguma diamond project

Stellar said discussions with Octea Mining over the acquisition of Tonguma, which owns a mining license over the Tonguma kimberlite diamond project in eastern Sierra Leone were terminated and is no longer acquiring the company or its mining license from...

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IDWI ends on a positive and optimistic note

The International Diamond Week in Israel (IDWI) which was held from Feb.13 to 16 ended on a positive note, with participants showing immense optimism in the future of the diamond industry.

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India's fourth series of Sovereign Bonds begins today

The Government of India will come out with the fourth series of Sovereign Gold Bonds 2016-17, which the Reserve Bank of India will issue on its behalf. Applications will be accepted from today through March 3 and the bonds will be issued on March 17...

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Rockwell finalises sale of Saxendrift alluvial diamond assets

Rockwell Diamonds has concluded the sale of its noncore Saxendrift alluvial diamond assets in South Africa to private firm Nelesco 318 for C$4.5 million.

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Swiss Watch Exports Continue to Decline

The Swiss watch industry started the year where it left off as exports fell in January, albeit at a slower pace than in 2016.

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A Fake Jerome and real diamonds?

17 february 2017
(polishedprices.com) - Mining Weekly reports that the Diamond Producers Association is lobbying for its advertising fund to be raised tenfold from $6 million to $60 million. The article refers to the fact that overtime De Beers had cut its marketing budget in half to $100 million before effectively stopping generic advertising, all one of the disastrous consequences of their Supplier of Choice strategy in 2001. My understanding is that De Beers no longer owns the ‘Diamonds are Forever’ slogan, which they transferred into De Beers LV or the jewellery business, instead we have got the Coke muse, about ‘Real’… who wants dreams to be real? In the FT it has been reported that Sotheby’s is suing to reclaim the proceeds of the sale for a painting of Saint Jerome that has subsequently proved to be a fraud. Lastly, I read this headline in Vogue, “This is your new source for conflict free ethical (and gorgeous) engagement rings”. It does not take a genius to guess that they are referring to Lab grown diamonds, or as the trade likes to use the pejorative term, synthetic diamonds. To me these three bits of news or information, which I presume bypass the fashion for fake information, though it is difficult to comprehend how anyone thinks raising advertising spend to $60 million, given the absence of coordinated generic advertising for so long, can make much difference.

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