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India’s exports of G&J rises 9.8%; polished diamonds up 10.2% in FY17

India’s exports of Gems and Jewellery increased 9.85% to $43.16 bn in FY17 (provisional data in April 2016 to March 2017) vis-a-vis $39.24 bn in FY16 (April 2015 to March 2016). Gross exports of cut and polished diamonds in FY17 increased...

Today

Firestone Diamonds boosts Q3 Liqhobong output to 103,000 ct

Firestone Diamonds said it produced 103,000 carats during the third quarter of its fiscal year, including 31 special stones larger than 10.8 carats, from Liqhobong mine in Lesotho.

Yesterday

Mountain Province sales of Gahcho Kué diamonds in Q1 drop below expectations

Mountain Province Diamonds reported that its diamond sales from the Gahcho Kué project fell below expectations during the first quarter ended March 31, 2017.

Yesterday

Sociedade Mineira Do Lulo Q1 sales dip 54pc to $10.7m – Lucapa

Sociedade Mineira Do Lulo (SML), which is 40 percent-owned by Lucapa Diamond recorded a 54 percent drop in sales to $10.7 million during the first quarter of the year from $23.1 million, a year earlier.

Yesterday

Sotheby’s reported strong diamond sales at its New York auction

Sotheby’s New York auction fetched a total of $29 million in jewelry sales on Tuesday.

Yesterday

5 Reasons Why Diamond Mining Stocks Have Been Under Pressure

20 april 2017
(paulzimnisky.com) - From February 15th to March 13th, a market-cap weighted aggregation of diamond miners in U.S. dollars including ALROSA Joint-Stock Company (RTS: ALRS), Petra Diamonds Ltd (LSE: PDL), Dominion Diamond Corp (TSX, NYSE: DDC), Gem Diamonds Ltd (LSE: GEMD), Lucara Diamond Corp (TSX: LUC), Stornoway Diamond Corp (TSX: SWY), Firestone Diamonds Plc (LSE: FDI), and Mountain Province Diamonds Inc (TSX, NASDAQ: MPVD), was down 14.3%. During the same time period, the S&P 500 (the U.S. broad market proxy) was up 1.1% and notably made an all-time high on March 1st. The FTSE 100 (the European broad market proxy) was up 1.0% and also made an all-time high on March 1st. On February 24th Stornoway hit a 52-week low of C$0.81, through March 2nd Dominion shares were down 10 days in a row, and on March 8th Mountain Province made a 52-week low of C$4.51. From February 15th to March 13th, $1.8B was erased from ALROSA’s market cap, a 14.1% decline. The recovery of the diamond industry last year following the 2015 indigestion, a strong post-election U.S. economy, and a more stable Chinese economy, are all fundamentals supportive of diamond miners, but the stocks have recently displayed weakness. Here are some thoughts as to why.

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