(economictimes.indiatimes.com) – A packet of stones bearing the label ‘rough diamonds’ recently found its way to the customs department in Mumbai. It was part of a consignment for a city-based diamantaire, one of many similar packages. The accompanying shipping bill pegged its value as high as any high-yielding, rough-cut diamond lode. But the stones in this particular packet were quartz--they weren’t diamonds. It wasn’t a packing error, or a case of wrongful disclosure. What it represented, according to the customs department, was evidence of a scam that’s been brewing in the Indian diamond industry over the past few years.
News
India’s Bunder diamond mines likely to be revived
The Bunder diamond project in Madhya Pradesh (MP), India with an estimated 34.20 million carat diamond deposits in Chhatarpur may be revived, according to a report in TOI.
Today
Pangolin identifies high priority drill targets at Botswana project
Pangolin Diamonds has identified high priority drill targets following the discovery of diamonds and indicators at its advanced stage MSC exploration project in Botswana.
Today
Israeli diamond industry looks forward to promising HK Show
Despite the unrest in Hong Kong, the Israel Diamond Institute, organizer of the Israel Diamond Pavilion at the upcoming September Hong Kong Jewellery & Gem Fair, is expecting a successful show.
Today
Pandora reported Q2 2019 financial results
Pandora reported its financial results for the second quarter 2019.
Today
Blue Nile appoints new CEO - report
Sean Kell will replace Eric Anderson on the post of a chief executive officer at Blue Nile.
Today
Customs dept cracks down on 'rough diamonds', industry cries foul
06 august 2019
