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Dominion Diamond Corp: $1.1B takeover bid rejected

Canada-based diamond miner Dominion Diamond Corp has knocked back a $US1.1B, $13.50-a-share take-over bid from The Washington Companies, a diverse, privately-held Missoula, Montana, US-based group of privately held North American mining, industrial and...

24 march 2017

ALROSA has no intention to increase dividends

ALROSA, the world’s largest diamond mining company, said in a statement released on Thursday that it is not going to increase dividend payments up to 75%.

24 march 2017

Rapaport Auctions sells 83,000 carats of diamonds worth $12.5M at Hong Kong March show

Rapaport Auctions, a leading dealer of recycled diamonds, sold over 83,000 carats of polished diamonds for $12.5M at the Hong Kong jewelry show in March.

24 march 2017

Stellar raises £183,751 from placing, short of target

Stellar Diamonds said it conditionally raised £183,751 gross of expenses from 3,340,931 ordinary shares sold at a price of 5.5 pence per share.

24 march 2017

Hari Krishna Group wins two awards at the 43rd GJEPC Awards

Hari Krishna Group has added yet another feather to its cap by winning two awards at the 43rd GJEPC Awards event, which was held at Hotel Trident on 18th March, 2017 here in Mumbai.

24 march 2017

A Trip Through the Diamond Industry in March 2017

17 march 2017
(paulzimnisky.com) - As the diamond industry marks its foray into 2017, Q1 demand for rough has been stronger relative to Q4 2016 and also relative to a year ago. Christmas season 2016, albeit mediocre, and a strong 2017 Chinese New year has driven seasonal restocking demand, and most, but not all, Indian cutters have begun to show signs of recovery after the initial shock of the demonetization last year. Last year, most miners liquidated excess rough inventories which they accumulated in 2015, and have since ramped-up production into 2017, resuming more normal pre-indigestion output levels of three years ago. Demand growth this year is likely to come from a post-election U.S. market where employment is stable and the stock market is at an all-time-high, driving positive sentiment that should translate into discretionary spending. The U.S. is the largest diamond jewelry market in the world representing 45% of global demand. China, the world’s second largest jewelry market, at 16% of global demand, should be driven by continued government stimulus and an ever-expanding middle-class consumer. India, representing 8% of the market, should show improvement year-over-year as domestic demand for jewelry returns as the demonetization impact is digested, especially in the second half of the year.

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