Platinum’s rare nature gives it additional value and appeal

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Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

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There is a significant need for smart and technological financial solutions in the diamond industry

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30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

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23 august 2021

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Rising diamond revenues helping Angola offset dropping oil income

19 december 2014

Rising revenues from diamonds are helping Angola offset some of the loss of income from dropping oil prices, reports Macauhub.
Figures from Angola’s Finance Ministry showed that revenues from diamonds, including taxes and royalties, reached US$6.5 billion between January and September, in line with last year’s total. Angola is the world’s fifth-largest diamond producer and expects diamond production of 10 million carats for this year.
Also, Angola, a major oil producer, has been concerned by collapsing oil prices which have fallen to a four-year low of $60 per barrel. Oil is Angola's main foreign currency earner.
Endiama, the main country-owned diamond company, aims to create a new industry for cutting precious stones and locally designed jewellery production, involving Angolan designers and artists. The sale of diamonds mined in the country increased 18 percent in the first half of the year, at an average price of US$155 per carat.
A total of seven projects, notably Catoca, Cuango and Chitotolo, contributed to increased diamond production.
Also, the new exploration work is conducted mainly at Lulo concession is quite promising, as in the next two years this diamond deposit may become the largest mine in the country, overtaking the huge Catoca mine which produces most of Angola's diamonds.
According to Lucapa Diamond Co., an Australian company that is the biggest shareholder in the Lulo concession, the average value of the stones found at Lulo is $6,533, while at Catoca, the fourth largest kimberlite mine in the world, it is around $100.
Angola will assume the Chair of the Kimberley Process on January 1.