Mountain Province Diamonds announces the results of its latest diamond sale

Mountain Province Diamonds Inc. has announced the preliminary results of its latest diamond sale in Antwerp, Belgium, which closed on September 19th, 2020, as per a press release from the miner.

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Russia’s Duma is offered to change the basis for calculating the severance tax levied from diamond mining

The Russian government has submitted a bill to the State Duma offering a new procedure for assessing the value of mined precious stones used to calculate the severance tax levied from mining companies. It is proposed to estimate their value based on...

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Lucapa realises $2.3 mln from Lulo diamonds sale

Lucapa Diamond has raked in $2.3 million (A$3.2-million) from the sale of diamonds from its 40%-owned Lulo alluvial mine, in Angola.

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Star recovers over 2800 diamonds from third bulk sample trench

Star Diamond has recovered 2,822 diamonds weighing 130.26 carats from the third bulk sample trench excavated on the Star Kimberlite at its Orion South diamond project, in Canada.

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Gem Diamonds unearths two large stones at Letšeng

Gem Diamonds has unearthed two large stones at its 70%-owned Letšeng mine, in Lesotho, the highest dollar per carat kimberlite diamond mine in the world.

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Upgraded Everledger Platform ready to boost diamond industry recovery

29 july 2020

(everledger.io) - Tom Murphy, Everledger’s head of product, discusses the latest features of the Everledger Platform, which will support demand generation, sustainability and compliance for diamond retailers and manufacturers. The diamond industry took three body blows from the COVID-19 pandemic. Firstly, the lockdown shuttered many retailers on the high street. Diamonds are traditionally a bricks-and-mortar marketplace, so those without an established e-commerce offer were caught cold. Next, the economic downturn had an inevitable impact on sales, not least as the global $250 billion wedding industry was all but frozen due to social distancing. Finally, the cessation of airline travel has complicated supply chains and cancelled all international diamond shows – a crucial networking and sales window in the calendar. They may face additional disruption in the second half of the year, a sign that a V-shaped recovery is wishful thinking. The impact on the industry has shown some startling figures. Gemdax predicts that excess inventories at the largest diamond producers will reach $4.5 billion — or between 40 million and 50 million carats — by the end of the year. The COVID-related restrictions on the supply chain, and faltering consumer demand, will result in a drop in rough-diamond sales of 30% to 40% this year ($7 billion to $8 billion) according to Moody’s. Hope on the horizon?