The Africa Report reported that diamond miners in Zimbabwe, one of the world's top diamond-producing countries, are saying that it is not economically viable for them to dig any deeper for the gems. As a result, the African nation may have to stop producing diamonds.
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Bloomberg reported that now that the European Union has lifted sanctions on state-owned Zimbabwe Mining Development Corp., Zimbabwe plans to sell diamonds from its Marange fields in Antwerp in the near future.
Rapaport reported that Martin Rapaport, chairman of Rapaport Group, has put out an editorial on synthetic diamonds in which he lays out the measures the diamond industry should take in order to "ensure the integrity of diamonds and the diamond trade."
Business Insider reported that a company called Algordanza is now turning human ashes into diamonds that can be ordered in different cuts and used to make jewelry. However, the process is pricey and fairly lengthy, so don't expect it to become the norm just yet.
ALROSA (MCX:ALNU) announced that at its annual meeting with long-term customers in Antwerp, it was noted that demand for rough diamonds is "gradually recovering" after weakening midway through this year.
Reuters reported that the Central African Republic is calling for the ban on its diamond exports to be lifted; the country claims that it needs the tax revenue from sales to help its economy. Certified diamond trading with the country was suspended in May by the Kimberley Process.
The Edmonton Sun reported that the University of Alberta has now officially opened the Arctic Resources Geochemistry Laboratory, a new world-class diamond lab whose purpose is to help scientists determine which diamond deposits are worth digging up.
Rapaport reported that on December 2, RapLab, a Rapaport Group company, will begin providing diamond traders with synthetic diamond detection services. It plans to use technology developed by De Beers.
Rapaport reported that the Christie's Hong Kong sale of Magnificent Jewels raised $111,337,708, the highest ever total for a jewelry auction in Asia. The top lot was a diamond riviere necklace with a total carat weight of 104.84; it sold for $8,144,064.
Rapaport reported that according to the Gem & Jewellery Export Promotion Council, India's October polished diamond exports rose 56 percent from the previous year, to $2.155 billion. That amounts to an 18-percent increase in volume, to 3.623 million carats.