The Kimberley Process (KP), a joint government, diamond industry and NGOs scheme to reduce trade in conflict diamonds, will cover Abbey Chikane’s tour on the notorious Marange diamond field. A ministry of mines official is quoted saying: “We are expecting him to go to Marange. He is set to meet with the Minerals Marketing Corporation [...]
The fight for control of natural resources is heating up between the two fastest growing economies. In a secret deal with Zimbabwe, the Chinese military has secured permits to mine the Marange diamond fields. India, looking to control its supply of rough stones for Surat’s cutting and polishing sector is looking to aide African Nations with medicines, and infrastructure projects.
The days of De Beers dominance of the worldwide diamond market may be over as Alrosa, Russia’s diamond giant, is the new King. Anglo-American may be looking to publicly list De Beers in London and Botswana, as well as selling shares of the under-performing company. Healthy sales numbers from world production centers and increasing imports to the US are making for a strong 2010.
China is now the world’s second largest economy. This massive increase in wealth has created a massive desire for luxury goods, diamonds included.
Dealers are gearing up for the forthcoming Valentine Day celebrations. Though nowhere near as important as Christmas or even the change of a year, Valentine's Day holds the promise of driving up sales.
Namibia is having to contend with strong under currents these days. The economic recession has put paid to the country's main life-line: diamond exports. The road ahead?
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.
Global Diamond industry is undergoing a strong transition towards growing demand for "conflict-free" or "violence-free" or ethical diamonds- guaranteed to originate from ethical and environmentally responsible sources. This transition is in response to the growing awareness among people and consumers worldwide about the so called "Blood diamonds"
With the Christmas buying season upon us jewelry companies who would typically have their biggest sales of the year are bracing for disappointing numbers. A study completed this fall by the Harrison Group and American Express Publishing found that of all the luxury categories, jewelry could take the biggest hit in the downturn.
Diamond trading activity has witnessed a recent drop-off as buyers face extreme uncertainty about the viability of current price levels. Traders expect the prices of gems to deteriorate in the coming months, but no one has any idea as to how much of a change to expect.
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