The crisis in the diamond industry has hit bottom, and the industry can now look forward to growth, according to DeBeers managing director Gareth Penny. Mr. Penny relayed this message to a room full of diamond merchants, manufacturers, and leaders at the Diamond Town Hall Meeting on June 3rd.
Continue reading "DeBeers hails bottom has been hit"
Tuesday, April 7, 2009
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.
Continue reading "A glimmer of hope for the diamond market"
Monday, March 9, 2009
Russian diamond mines have long been the object of a tug-of-war between federal government interests in Moscow and the far eastern region of Sakha (Yakutia). For full story, click here
Continue reading "Russia’s diamonds up for grabs"
Thursday, February 26, 2009
In 2008, as the bleak economic outlook deepened, there were significant repercussions for the diamond industry. Early on in the downswing it seemed that the industry would withstand the economic current. However, under close examination it was apparent that a storm was brewing.
Continue reading "Emotions play into diamond market"
Wednesday, February 11, 2009
The global financial crisis and sharp falls in metals prices have forced several companies to abandon or put on hold their plans to bring new mines onstream. For full story, click here
Continue reading "Plans to bring new mines abandoned"
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Monday, June 8, 2009