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De Beers’ 2017 core earnings up 2pct despite drop in revenue

De Beers, which is 85 percent-owned by Anglo American, said its underlying adjusted earnings before interest, tax, depreciation and amortization (EBITDA) leaped 2 percent to $1.435 billion compared to $1.406 billion a year earlier despite lower...

Yesterday

Lucapa Diamond CEO perceives good start for rough diamond market in 2018

The rough diamond market has this year started off “very well” as high demand has seen prices go up in January, according to Lucapa Diamond chief executive Stephen Wetherall.

Yesterday

GJEPC and MIDC sign MoU for Jewellery Park in Mumbai

The Gem & Jewellery Export Promotion Council (GJEPC) of India and the Maharashtra Industrial Development Corporation (MIDC) signed a MoU for the setting up India’s largest Jewellery Park in Mumbai.

Yesterday

Stellar starts front end engineering, design for Tongo-Tonguma

Stellar Diamonds said it has started the Front End Engineering and Design study (FEED) for the underground mine development of the Tongo-Tonguma project in Sierra Leone.

Yesterday

DTCB plans to sort and value non-De Beers stones

Diamond Trading Company Botswana (DTCB) is looking into the possibility of taking diamonds from non-De Beers mines for sorting and valuing, Weekendpost quoted DTCB Managing Director Tobake Kobedi as saying.

Yesterday

Martin Rapaport’s Presentation at the Mines to Market Conference was divisive, belligerent & inaccurate at best

21 march 2017

(Diamond World News Service) - The Day 2 of the Mines to Market Conference came to an end with Rapaport’s offensive and demeaning presentation - “State of Diamond Industry”. He began by saying how greatly India is dependent on the US and how much it needs America more than anything else. His presentation and manner of speaking was extremely demeaning, aggressive and insulting to Indians. “Indian industries are suckers, they manipulate profits,” he said. He also mentioned that the net rough exports in the UAE are only because of India. He continued to his vindictive presentation by accusing Indian businessmen of malpractices. He insinuated that Indians support illegal activities which are eventually funding terrorism and that President Trump will not stand for such things. It was very evident that Rapaport was acting as an agent for Trump to fix policies between India and America.

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