“Lab-Grown Diamonds is probably the biggest scam this industry has ever seen,”: Leibish Polnauer, Founder-President, Leibish & Co.

An interesting story from the Leibish & Co takes you way back to the year 1979 when young Leibish Polnauer, then a diamond polisher, was travelling to London, having just found out that the factory at which he worked had been shut down. He found an advertisement...

24 june 2019

Botswana mining industry players speak on speculative exploration licences

Speculative mineral exploration licences was a recurring theme from presentations made by three players in Botswana mining industry at a conference convened in Gaborone. The country has issued thousands of exploration licences, across the mining industry...

17 june 2019

Design is the key to all markets

Besides being an astute businessman, Mumbai-born Laksh Pahuja is a designer par excellence known globally for his awe-inspiring unusual jewellery pieces. Trained at the Gemological Institute of India and Harrow College of Art England, Laksh combines...

10 june 2019

Mutual mass destruction will not serve anybody’s purposes

The recent moves by the U.S. Federal Trade Commission (FTC), including its letters urging some companies to abide to the revised edition of FTC Jewelry Guides and the explanations from FTC attorney Robert Frisby posted on the FTC website were...

03 june 2019

Pavel Sokolov: Every stone has its beauty

THE ‘GEMSTONES BY SOKOLOV’ brand has been popular for over 25 years. The aim of this company is to supply any kind of gem studs to the Russian market including the unique ones except diamonds of any cut. The product range by the SOKOLOV Company is very...

27 may 2019

Grib Diamond Sales Surge Ahead of Takeover

15 march 2017
Lukoil’s diamond revenue nearly doubled to $335.8 million (RUB 20 billion) last year, ahead of the oil producer’s sale of the Grib mine.
Sales of rough stones stood at $184.7 million (RUB 11 billion) in 2015, having risen from $16.8 million (RUB $1 billion) in 2014, the miner said Tuesday.
Lukoil, Russia’s largest oil miner, sources all its diamonds from the Grib asset in the country’s Arkhangelsk region. The company announced the $1.45 billion sale of the mine to Russian investment group Otkritie Holding last year, with the deal currently subject to government approvals, Lukoil said.
Production at Grib was launched in September 2014, with initial estimates putting full annual production at 4.5 million carats. Lukoil has not disclosed operational figures for the mine.