Russia’s Ministry of Natural Resources and Environment warns of a possible shortage of diamonds in the country

The Ministry of Natural Resources and Environment of the Russian Federation notifies of a future shortage of diamonds in the country and plans to make up for it by mining diamonds in Karelia, Dmitry Kobylkin, the head of the ministry said.

14 december 2018

De Beers to partially lift its source-disclosure ban – report

De Beers is set to relax its source-disclosure restrictions for diamond buyers known as sightholders as calls for transparency grow to a crescendo, according to Rapaport News.

14 december 2018

AGD Diamonds commissioned yet another facility to improve ecology at the Grib mine

In mid-December, AGD Diamonds’ Mining and Processing Unit at the Grib diamond mine launched a car wash to clean rock haulers and auxiliary mining equipment, the company’s press service said.

14 december 2018

Trans Hex returns to profitability

Trans Hex, which has operations in Angola and South Africa, said it recorded a net profit of R52-million ($3.7 million) for the six months ended September 30, compared to a loss of R199-million ($14 million), a year earlier.

14 december 2018

India’s polished diamond exports down by 12% in November

Polished diamond exports dipped by 12.06% as compared to the same month in 2017, according to provisional data released by The Gem & Jewellery Export Promotion Council (GJEPC) of India.

14 december 2018

Boom after gloom: GST helps organise diamond industry

03 july 2018
(BusinessLine) - For 40-year-old Paresh Kanani in Surat, life has changed dramatically over the past one year. A small-time diamond trader, who used third-party channel to export small quantities of diamond and jewellery to his clients abroad, now proudly harbours an ambition of becoming ₹100 crore company from ₹8 crore currently. Kanani and many like him in the diamond hub of Surat attribute their happiness to the new tax regime, Goods and Services Tax (GST), which, they say, has given wings to their dreams. Sharing about his journey from an unorganised player in the ₹1 lakh-crore diamond industry, to a registered exporter with a GST number, the SSC-pass Kanani expressed joy and satisfaction for being able to do business with self-respect without being relied upon any third party.