TAGS sells $20mn rough diamonds at tender in Dubai

Trans Atlantic Gem Sales (TAGS) sold $20.9 mn worth of rough diamonds during a tender it held in Dubai this month.

Today

Lithoquest completes first phase of drilling at North Kimberley

Lithoquest Diamonds said it has completed phase one of the 2018 drill programme at its wholly-owned North Kimberley Diamond Project, in Western Australia.

Today

Rio Tinto celebrates opening of new diamond pipe at Diavik

Rio Tinto celebrated on Aug 20, the opening of a fourth diamond pipe, known as A21, at the remote subarctic Diavik Diamond Mine in Canada.

Yesterday

XI IJA Conference to gather the leaders of jewellery sector in Moscow

XI International Jewellery Academy Conference (IJA), the biggest business event for the heads of jewellery companies, will be held on September 24 in Moscow at the "Kosmos" Concert Hall.

Yesterday

Lucara subsidiary collaborates with diamond technology developer

Lucara Diamond said its subsidiary Clara Diamond Solutions has inked a collaboration agreement with Sarine Technologies, a diamond industry technology developer.

Yesterday

Political Rivalry Leads To US Dollar Reserve Currency Replacement Idea Being Raised Again

Today

(idexonline.com) - It's an idea that has been raised from time to time in the past. The last time that I recall it was suggested was following the 2008 financial crisis. The idea is to use other currencies instead of the US dollar for the purchase/sale of diamonds – as well as a wide range of internationally traded commodities. Russia's ALROSA, the world's leading rough diamond miner by volume, announced that it has tested a payment mechanism with foreign clients using the Russian currency, the ruble.

Russian miners eye rouble payments to limit the impact of US sanctions

Yesterday

(businesslive.co.za) - Two of Russia’s biggest mining companies are investigating payment schemes based on the rouble, amid calls from Moscow to reduce the role of the dollar in Russian trade and so limit the impact of US sanctions. Russia favours trade with all countries in their national currencies, rather than the dollar, but the idea needed detailed work before being implemented, the Kremlin said. Russia’s Norilsk Nickel, the world’s top palladium producer, said on Wednesday it was discussing the possibility of settling payments in roubles with foreign customers that had signalled their readiness for such an arrangement. Russian miner Alrosa, the world’s largest producer of rough diamonds in carat terms, also said on Wednesday it was testing a mechanism to settle payments in Russia’s currency.

Diamond Resources Might Not Be Forever

20 august 2018

(diamonds.net) - While it’s true that value comes from rarity, no natural resource lasts forever, and the rare is becoming even rarer. Diamond production is set to peak in 2019, after which it will begin a steady decline. De Beers estimates global output will fall by 1% to 2% a year until 2030, while some analysts predict as much as a 5% annual drop. Regions that have heavily dominated the trade over the last five decades are now reaching the end of the line, and new exploration projects may not be able to compensate fully for their loss.

Scientists Solve Mystery Of How Rare Blue Diamonds Are Formed

17 august 2018

(techtimes.com) - A team of scientists analyzes 46 blue diamonds to trace how deep in the earth do they come from and how exactly do they get their precious color. Blue diamonds or type IIb diamonds are particularly rare. The scientists said barely one-hundredth of 1 percent of all diamonds in the world makes it to the cut of being classified as type IIb diamonds.

The Iceberg of Diamonds and Climate Change

16 august 2018

(yams.news) - One of my favorite quotes is by the Greek philosopher Heraclitus who said that “Change is the only constant in life.” Wikipedia states that “Heraclitus was famous for his insistence on ever-present change as being the fundamental essence of the universe…” Some 2500 years later, this philosopher’s pearls of wisdom are still fresh and applicable, also to the diamond, gem and jewellery industry and trade in which many of my blog’s readers make, or try to make, a living in.

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