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Hydrogeological situation at Mir diamond mine put under stricter monitoring

Currently, the main task is to ensure the safety of miners and rescuers on the mine’s level of -210 meters, where search works are carried on. To this end, ALROSA specialists monitor the water level in the quarry and in the underground mine every two...

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Curb on small-scale mining to weaken Ghana's diamond, gold output – report

A move by Ghana to curb small-scale mining, which is causing damage to the environment, will this year cause a low diamond and gold output.

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Rapaport Magazine undergoes a comprehensive redesign

In its 40th year, the iconic Rapaport Magazine, the primary source of diamond pricing and jewelry market information is relaunching after undergoing a comprehensive redesign.

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Zim’s diamond cutting, polishing sector struggling

Zimbabwe’s diamond cutting and polishing sector is reportedly “struggling” to make ends meet as they are not getting enough supplies of rough stones.

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India bans export of gold jewellery, medallion and coins above 22 cts

In an amendment in the Foreign Trade Policy-2015-20, the Government of India has banned the export of Gold Jewellery (plain and studded), Medallions & Coins of above 22k from DTA and Export Oriented Unit (EOU) Scheme, Electronics Hardware...

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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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