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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

Expectations Changing | Changing Expectations: Diamond Traceability

05 december 2017
(debeersgroup.com) - In a world of fleeting connections and disposable luxury, diamonds must stand for enduring value that is grounded in confidence. Confidence that a diamond has been responsibly sourced, confidence in its value and confidence that it is the real thing. But expectations about the meaning of confidence are evolving, and our future as an industry depends on our ability to understand this shift, embrace it, and meet the challenges it presents. This is why I am excited to share with you that we are investing in a new platform that will provide a single, immutable record that traces a diamond’s individual journey through the value chain. This diamond traceability platform is underpinned by blockchain technology, which allows for a highly secure digital register that creates a tamper-proof and permanent record of interactions – in this instance, a diamond’s path through the value chain.

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