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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

Diamond Industry’s Famous Hungry Crocodile Doesn't Cut It

21 april 2017
(bloomberg.com) - The diamond industry’s most famous chart is the hungry crocodile, the ancient reptile’s jaws wide open, reflecting both a predicted shortage of gems and the inevitable price rises that will come with it. Not only has this chart, which has been an industry staple for more than a decade and promoted by big miners like BHP Billiton Ltd., Rio Tinto Group and De Beers, never materialized, it oversimplifies the fact that the industry’s 15,000 different categories of diamonds are performing in very different ways. That divergent trend has accelerated in the past year. Recently, a mine producing lower quality stones was shut due to a dip in prices, while top producer De Beers has been forced to offer unprecedented concessions to its customers. Both events show the chart is less relevant today than ever before.

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