Sotheby’s diamond auction marks another bitcoin milestone

The 101.38-carat pear shaped flawless diamond - The Key 10138, which carries a pre-sale estimate of $10 million - $15 million, will be sold by Sotheby's on July 9 in Hong Kong.


The Jewellers’ Guild of Russia held its reporting and election meeting

The Association "Jewellers’ Guild of Russia" held its reporting and election meeting on June 18. Due to the difficult situation regarding the incidence of coronavirus infection, the meeting was held in the format of a video conference.


Norilsk Nickel on ecology, indigenous peoples of the North, and public control

The implementation of events within the strategy pursued by Norilsk Nickel’s production divisions in the field of ecology and climate change will require up to $ 1 billion per year, said Andrey Bugrov, the company’s Senior Vice President for Sustainable...


Lesotho auctions diamonds collected from illegal miners

The government of Lesotho recently auctioned diamonds collected from illegal miners, according to media reports. The country’s National Assembly passed a law last year that granted amnesty to people in possession of illegal rough diamonds should they...


Botswana renews Tsodilo prospection license for two years

Tsodilo Resources says its Prospection License 369/2014 has been renewed by the government of Botswana for two years commencing October 1, 2021. The license area contains the company's diamondiferous BK16 kimberlite project.


Diamond Suppliers See ‘Unprecedented’ Sales


( - It’s almost as if wholesalers want to say, “Pinch me.” Sales have been so consistent and strong since January that they’re comparing it to Christmas. Even as inventory prices keep rising, they are savoring this welcome sales streak — for now.

Banking on Diamonds

21 june 2021

( - In both financial and diamond industry terms, 2017 seems like an eternity ago. Bankers at the Dubai Diamond Conference in October of that year gave a stark warning to the diamond sector: The trade is over-financed, insufficiently transparent, not profitable enough, and altogether too risky. This was their unanimous observation, to the discomfort of the audience. With bank credit amounting to an estimated $13 billion at the time, lenders claimed the industry could function sufficiently on just $8 billion. Bankers were already reducing their exposure to the trade’s risks, and many had closed their diamond units altogether. Today, bank credit has reached that $8 billion level, according to estimates from Bain & Company (see graph). Meanwhile, the diamond industry appears to have enhanced its stature among lenders. In an unexpected twist, the midstream radically improved its liquidity position during the challenging pandemic period.

What Next for Mehul Choksi?

18 june 2021

( - There's a movie to be made, for sure, about Mehul Choksi.  We just need to establish some facts - any facts - before we settle on a script and make some critical casting decisions. And we may need to run it by him first. Bear in mind that he took Netflix to court over his brief appearance in the Bad Boy Billionaires documentary. But we'll cross that bridge when we come to it.

How Petra Diamonds Ended Up in a Human Rights Mess

17 june 2021

( - Hans Merket, a researcher with the International Peace Information Service (IPIS), says he didn’t go into Tanzania expecting to learn about people getting hurt and killed. His group simply wanted to measure how mines were viewed by surrounding communities. But when they got to Mwadui, the area around the Williamson diamond mine, he kept hearing how mine security forces had taken violent action against purported trespassers on the mine area. There were reports of people being shot, stabbed, beaten, locked up, and killed.

Is Luxury Ready for Double the Amount of Millionaires in China?

16 june 2021

( - HSBC estimates that Chinese consumers are getting richer. The country will more than double its number of millionaires over the next five years. The middle class will also expand from about 340 million to over 500 million during that same period. “An expanding middle class will underpin medium to long-term economic growth, and stronger consumer spending boosts domestic demand, business confidence, and capital expenditure,” HSBC economists led by Qu Hongbin wrote. “A rising middle class will also increase imports of goods and services, and attract foreign companies to invest in China.”

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