Reuters reported that next month, the Ivory Coast plans to pressure the United Nations to lift a ban on its diamond exports. The UN Security Council put a trade embargo on the country's diamonds back in 2005 in an effort to stop their sale from "funding arms purchases."
Diamond Market News Directory
Reuters reported that Sotheby’s has acquired the Pink Star diamond, which sold for a record $83.02 million in November, after buyer Isaac Wolf could not pay for it.
New Zealand's Stuff reported that people interested in purchasing diamond jewelry are increasingly choosing to buy at auction rather than from traditional jewelry stores.
Bloomberg reported that De Beers sees global diamond demand rising by up to 4.5 percent in 2014 on the back of increased US and Chinese demand.
In an interview with The Economic Times, Stephen Lussier, CEO of Forevermark, a De Beers brand, told the news outlet that while diamonds are becoming rarer each day, "there is no immediate crunch in terms of supply."
On February 5, the Antwerp World Diamond Centre (AWDC) released a statement on a report drafted by the Financial Action Task Force and Egmont Group of Financial Intelligence Units, commenting that it "misses the mark as the lack of information concerning certain countries cannot deem it as representative for the whole industry."
Rapaport reported that the Gemological Institute of America (GIA) has designed a machine whose purpose is to detect the difference between man-made and natural diamonds.
CBC News reported that although the Northwest Territories' government announced a year ago that Deepak International would be buying two buildings from it to use for diamond manufacturing, as yet, the buildings have not been sold.
Reuters reported that according to the Israel Diamond Institute, polished diamond exports from Israel rose 11.6 percent in 2013, to $6.2 billion. Further, those in the industry see further growth coming in 2014.
The Africa Report said yesterday that Zimbabwe expects to gain billions of dollars from mining new diamonds fields "almost the size of Swaziland."