The discovery of a 507 carat white diamond has proved to be encouraging news, not just for Petra Diamond which discovered the gem, but for the industry as a whole. Improving demand and positive announcements have had Canadian diamond juniors brushing themselves off from last year's crash. The sparkle is back in the investors eye.
Foreign exhibitors at the 26th annual India International Jewellery Show (IIJS) were encouraged by the strong presence of local purchasers at the event, surged the profile of India as an important diamond consumer market. For full story, click here
Celebrating 20 years in India, the top brass of mining major Rio Tinto Diamond has set new goals for the Indian market. From being a mere supplier of raw diamonds, the company plans to mine diamonds in India too. For full story, click here
At a time when the international market and India’s Sensex were witnessing some bull run, diamond industry in Surat was hoping for some revival but those dreams were shattered when experts predicted that the diamond market is still facing a fragile scenario. For full story, click here
Global diamond markets will continue to stabilize with prices slowly solidifying against a shortage of supplies in the market. Buyers are resisting the new, higher prices as they are still unwilling to pay them. For full story, click here
Reporters learned from a news conference held at the “Jewelry Shanghai 2009,” that in recent years, the diamond market was the fastest growing market in the entire Chinese jewelry market. For full story, click here
Shares in Gem Diamonds surged 12.9 percent, building on Friday’s 20 percent gain, as investors react to a recovery in demand for rough diamonds with market conditions looking more positive. Desmond Kilalea, a diamond analyst at RBC Capital Markets, stated: They have just raised money and we know diamond prices are getting a bit better. [...]
One can see a unique spectacle: nearly 5,000 small-time diamond merchants sitting and chatting, all in one place. For full story, click here
Rio Tinto Group, the third-biggest mining company, announced that the planned restart of the processing plant at its Argyle diamond mine, the world’s biggest, will depend on market conditions. For full story, click here
As the economic recession increased its stronghold on consumers, plunging jewellery sales sent the diamond industry into a tail spin. At the onset of the slowdown, the industry seemed immune, as sales of top tier goods overshadowed the decline in mid-grade diamond sales.
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