ALROSA unearths a yellow 17.4 ct diamond at its new Verkhne-Munskoye deposit

ALROSA has recovered a 17.44-carat diamond at the Verkhne-Munskoye deposit for the first time since the beginning of its operations.

21 february 2020

Star Diamond provides update regarding option to JV with Rio Tinto Exploration Canada Inc.

Star Diamond Corporation announced that, following a review conducted by Star Diamond’s special committee with assistance from the special committee’s independent legal counsel, Star Diamond has notified Rio Tinto Exploration Canada Inc. (RTEC)...

21 february 2020

Sergey Eroshkin appointed new CEO of Bourevestnik

Sergey Eroshkin will become the new CEO of the Bourevestnik Innovation Center, ALROSA subsidiary, effective from February 15, 2020.

21 february 2020

Star Rays aspires to become India’s first carbon-neutral diamond company

Indian diamond manufacturer Star Rays may be the first India’s first carbon-neutral diamond company in the country, because of its commitment to sustainable business practices.

21 february 2020

Young Indians embrace platinum as a symbol of modern love and self-expression

While traditionally a market for gold jewellery, India has developed a strong appetite for platinum over the past decade.

21 february 2020

Why diamond mining in Africa is a double-edged sword

14 february 2020
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Image credit: Debswana


(spearswms.com) - When Botswana gained independence from Britain in 1966, it was one of the poorest countries on the planet. Per capita income was around $80 a year – just 15 per cent of the global average, according to World Bank figures. But the following year, the southern African nation’s fortunes began to transform. A vast diamond deposit was discovered in Orapa, a small town in the country’s Central District. It is now the largest diamond mine in the world. By 2018, Botswana’s GDP per capita had risen to $17,948. The country is now one of the wealthiest in sub-Saharan Africa. Elsewhere in Africa, the way the proceeds of the industry are used remains the subject of controversy. In 2003 the Kimberley Process Certification Scheme was established to prevent proceeds from diamonds being used to fund violence. Today, however, various groups argue that the scope of the process is too narrow, and that any sanctions are too easy to circumvent.