“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

Mountain Province Diamonds announces results of fifth diamond sale, 2018

02 july 2018
Mountain Province Diamonds Inc. announced the results of its fifth diamond tender sale of 2018. The miner sold 356,000 carats of rough diamonds for $30.3 mn, compared to 350,000 carats sold during the tender in May for $28.3 mn. An average price per carat was $85.

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Image credit: Mountain Province


“The positive results of our fifth sale were driven by strong demand in the rough diamond market”, said Reid Mackie, the Company’s Vice President Diamond Marketing. “This demand is supported by stable rough supply levels and continued positive retail news from the key diamond consumer markets. At our fifth tender, customer interest and bidding competition was particularly high for larger white gem lots. We saw prices for this product category again increase by low single digit percentages compared with the previous sale.”
Mountain Province also registered an increased interest in the 95 carat diamond acquired at the most recent joint venture production split.
Mr. Mackie, said, “Customer competition for the 95 carat gem exceeded expectations, with the final result more than doubling the previous highest value achieved for a single diamond. To maintain confidentiality for the buyer, further specifics of this diamond’s sale will not be released.”

Victoria Quiri, Rough&Polished