Diamond Stocks Articles

Robbers Take $500,000 Diamonds in Car Raid

February 28, 23 / John Jeffay

(IDEX Online) - Police say $500,000 of diamonds were stolen from a car by knife-wielding robbers in Inglewood, California, USA.Video of the incident appears to show a suspect climb through a passenger window and grab a duffel bag.The victim's car was boxed in by one vehicle in front and another behind.Two suspects then drove off in a white car.  Police say there were no reported injuries...Read More

24,000 Visitors at Inhorgenta Munich

February 27, 23 / John Jeffay

(IDEX Online) - Visitor numbers at the Inhorgenta Munich trade show in Germany were up more than a half on the 2022 show, said organizers.The four-day event, which ended today, showcased watches, jewelry and gemstones and attracted 24,000 trade delegates.There were more than 800 companies exhibiting, from 38 countries. The top 10 exhibitor countries, after Germany were: Italy, Belgium, India, Aust...Read More

Rio Tinto's $40m Expansion at Diavik

February 27, 23 / John Jeffay

(IDEX Online) - Rio Tinto is to invest $40m to extend the life of Diavik, Canada's largest mine, on the edge of Arctic Circle.It says that underground mining below the existing A21 open pit operation should yield an additional 1.4m carats and extend the life of the deposit into the first quarter of 2026. It had been scheduled to close in 2025.Rio Tinto, the world's second-largest metals...Read More

New Sanctions Could Target All Russia's Polished Diamonds - JVC

February 27, 23 / John Jeffay

(IDEX Online) - The G7 nations said they would work towards measures against Russian diamonds as they marked the first anniversary of its invasion of Ukraine, but gave no specific details. But the Jewelers Vigilance Committee (JVC) says it has received information that new restrictions are likely to specifically target all polished diamonds from Russia, regardless of where they are cut and po...Read More

First Polished Yellow Diamonds from Naujaat

February 26, 23 / John Jeffay

(IDEX Online) - The first fancy yellow diamonds from bulk sampling at Canada's Naujaat mine have been cut and polished by Burgundy, in Australia, as part of a partnership.The high-value gems were recovered by Vancouver-based North Arrow Minerals from kimberlite pipes in Nunavut, in the Canadian Arctic Archipelago.Two stones - weighing 0.31 carats and 0.21 carats - were test-polished by Burgun...Read More

BlueRock Suspends Share Trading Amid "Financial Uncertainty"

February 26, 23 / John Jeffay

(IDEX Online) - British miner BlueRock Diamonds has suspended trading in its shares after the subsidiary that operates its Kareevlei mine, in Kimberley, South Africa, was place in business rescue.In a statement issued on Friday (24 February) it said it had "requested that trading in the company's shares on the AIM market of the London Stock Exchange be suspended due to financial uncertainty r...Read More

Woman Jewelry Worker, 79, Pistol-Whipped in Raid

February 26, 23 / John Jeffay

(IDEX Online) - Police are hunting two men who beat and pistol-whipped a 79-year-old female worker in a raid on a New York jewelry store.The victim was taken to hospital, where she was described as being in a stable condition. She was kicked, punched and struck in the head with a handgun.Surveillance footage released by the NYPD shows her on the floor with her hands above her head, trying to defen...Read More

Lucapa Recovers 150-ct Diamond at Lulo

February 23, 23 / John Jeffay

(IDEX Online) - Lucapa has recovered a 150-carat Type IIa D-color white diamond at its Lulo alluvial mine, in Angola.The Australian miner says it's the 36th +100-carat diamond (pictured) from the mine since it began commercial production in 2015.The recovery, the fifth +100-carat from block 28 of the mine, was made with partners Endiama and Rosas & Petalas.Lucapa, which also operates the...Read More

Back to Work at India's Only Diamond Mine

February 23, 23 / John Jeffay

(IDEX Online) - India's mothballed diamond mine at Majhgawan-Panna is due to resume production this July, with a forecast output of up to 84,000 carats a year.Work was halted at the country's only industrial mine at the end of December 2020 when environmental clearances lapsed following concerns from the nearby Panna Tiger Reserve.But the National Mineral Development Corporation (NMDC),...Read More

New EU Sanctions "Could Include Diamonds"

February 22, 23 / John Jeffay

(IDEX Online) - The Dutch government today (Wednesday 22 February) said new EU sanctions on Russia could include restrictions on diamond imports.A new package of measures is expected on Friday (24 February) to make the first anniversary of the invasion.A Customs update entitled New sanctions measures against Russia and Belarus (sanctions package 10) says (in translation) that the new package of sa...Read More

Element Six Loses IIa Lab Grown Patent Battle

February 22, 23 / John Jeffay

(IDEX Online) - Singapore-based IIa Technologies has won a long-running patent battle with Element Six Technologies, a De Beers company.The Court of Appeal in Singapore ruled that Element Six's highly technical patent concerning lab grown diamond production was not sufficiently clear and was therefore unenforceable.It said even a skilled person would not understand whether or not they had inf...Read More

Public Review for De Beers' New Mine Plan

February 22, 23 / John Jeffay

(IDEX Online) - Plans for a new De Beers diamond mine in Canada's Nunavut territory are to go to a public review.The UK-based miner acquired the Chidliak Project, on the vast and sparsely populated Baffin Island, when it bought Peregrine Diamonds in September 2018 for C$107m.It plans to implement its FutureSmart Mining vision, including the use of drones, airships, remote mining and operation...Read More

Modi Jewlery Goes Under the Hammer

February 22, 23 / Staff reporter

(IDEX Online) - Gold, platinum and diamond jewelry belonging to Nirav Modi's Firestar Diamond International will be sold by liquidators in Mumbai, India, in an e-auction next month.The fugitive jeweler, aged 51, is accused of fraudulently using letters of undertaking offered by the Punjab National Bank (PNB) in an alleged $1.85bn fraud.No reserve price has yet been posted by liquidators Santa...Read More

Mehta Fails to Halt British Court Case

February 21, 23 / John Jeffay

(IDEX Online) - Fugitive Indian diamond merchant Jatin Mehta has failed in a bid to halt legal proceedings against him in a British court over allegations that he defrauded lenders out of $1bn.Mehta (pictured) had sought to have the case heard in India instead. He and his family were found to be living in London last year.He is accused of defrauding15 lenders out of the $1bn lent to his companies...Read More

De Beers "Confident" on Botswana Deal

February 21, 23 / John Jeffay

(IDEX Online) - De Beers says the long-standing agreement, under which it sells 75 per cent of Botswana's rough diamonds, will survive the current turmoil.A company spokesman told Reuters this week it was "confident that our successful partnership will continue".Two weeks ago the country's President Mokgweetsi Masisi told crowds at a rally of his ruling party that he would walk away from...Read More

Petra Diamonds Reports a $17.6m Loss

February 21, 23 / John Jeffay

(IDEX Online) - Petra Diamonds today reported a 20 per cent dip in sales for the first half of fiscal 2023 and a net loss of $17.6m.The London-based miner made a profit of $49.1m during the same period in 2022.  Earlier this month it said it was open to merger and acquisition offers.It blamed the decrease in revenue - down from $264.7m in H1 FY 2022 to $212.1m in H1 FY 20203 - largely on zero...Read More

Dubai's Diamond Trade Hits $37bn

February 20, 23 / John Jeffay

(IDEX Online) - The Dubai Diamond Exchange (DDE) has reported a 17 per cent increase in rough and polished trade last year, up to $37.4bn.DDE, founded in 2002 as part of the Dubai Multi Commodities Centre (DMCC), said last February that it had overtaken Antwerp as the top trading hub globally for rough diamonds - over $22.8bn in 2021 - and "looks to become the largest diamond trade hub for rough a...Read More

First Bharat Diamond Week Since Pandemic

February 20, 23 / John Jeffay

(IDEX Online) - Bharat Diamond Week (BDW) returns in April for the first time in three years.More than 200 large and medium diamond manufacturers, lab growns among them, will be exhibiting at the three-day "only diamond" event in Mumbai, India."The entire diamond sector is going through a tough phase and economic volatility looms large on various economies," said Anoop Mehta, president o...Read More

G7 and EU "to Track Russian Diamonds"

February 20, 23 / John Jeffay

(IDEX Online) - The G7 nations and the 27 EU countries are reported to be discussing ways to track Russian diamonds.A statement could be issued this week, according to a Bloomberg news report, although implementation of such a system would be complex and time-consuming.The USA imposed sanctions shortly after Russia invaded Ukraine almost a year ago, but the EU has resisted calls to do likewise, as...Read More

Secret Camera Found Outside Jeweler's Home

February 19, 23 / John Jeffay

(IDEX Online) - Police believe the South American Theft Group (SATG) - a sophisticated crime gang - was responsible for planting a secret surveillance camera outside the home of a jeweler in North Jersey, USA.Footage from the jeweler's own security camera shows two men placing camera equipment and a battery pack in a bush outside their house.The SATG is known to carry out surveillance work to...Read More

Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok