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Vallabhbhai Shamjibhai Patel tells about the ongoing construction of the Surat Diamond Bourse

The under-construction Surat Diamond Bourse (SDB) is India's second diamond trading hub based at Surat, Gujarat, spread across 35.54 acres with more than 4,000 offices for national & international traders. On the onset, the project which...

Yesterday

The strategy of regulating the Russian jewellery industry

At the General Meeting of the Russian Jewellers Guild Association held in April, two principally important documents were adopted: The Strategy of Regulating the Jewellery Industry of Russia and The Charter of a Good Faith Taxpayer. Besides, the issues...

13 june 2018

Our first priority is to better understand artisanal and small-scale mining - Elodie Daguzan

The Diamond Development Initiative (DDI), the organization dealing with the traditional diamond mining, recently announced the appointment of Élodie Daguzan as its first Goodwill Ambassador. Ms. Daguzan, who currently works as head of communication...

04 june 2018

Zimnisky on De Beers’ Lightbox: It’s a strategic, bold move that will benefit the entire natural diamond industry

De Beers shocked all and sundry end of May when it announced the launch of a new company called Lightbox Jewelry, which will market a new brand of laboratory-grown diamond jewellery in September. This effectively meant that the group had departed from...

01 june 2018

Tracking the provenance and lifecycle of a product is a natural and necessary evolution in our industry

A senior executive with a demonstrated history of working globally at management and board levels, Marcus ter Haar has been the Managing Director at Okavango Diamond Company (ODC), Botswana for about 10 months now, prior to which he held the...

28 may 2018

Grib Diamond Sales Surge Ahead of Takeover

15 march 2017
Lukoil’s diamond revenue nearly doubled to $335.8 million (RUB 20 billion) last year, ahead of the oil producer’s sale of the Grib mine.
Sales of rough stones stood at $184.7 million (RUB 11 billion) in 2015, having risen from $16.8 million (RUB $1 billion) in 2014, the miner said Tuesday.
Lukoil, Russia’s largest oil miner, sources all its diamonds from the Grib asset in the country’s Arkhangelsk region. The company announced the $1.45 billion sale of the mine to Russian investment group Otkritie Holding last year, with the deal currently subject to government approvals, Lukoil said.
Production at Grib was launched in September 2014, with initial estimates putting full annual production at 4.5 million carats. Lukoil has not disclosed operational figures for the mine.

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