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Zimbabwe stockpiles 300,000 carats of diamonds

The Reserve Bank of Zimbabwe has stockpiled 300,000 carats of diamonds under new regulations which compel miners to pay half of their royalties using commodities, the state-run Sunday Mail reported. Central bank governor John Mangudya also told the Harare-based newspaper that gold reserves stood at around 350 kilograms, or around $20 million in US dollars. … Read more

What Causes Diamonds To Erupt? Scientists Crack the Code

New findings hold the potential to spark future diamond discoveries.An international team of scientists, led by the University of Southampton, has found that the breakup of tectonic plates is the main driving force behind the generation and eruption of diamond-rich magmas from deep inside the Earth. This insight could significantly influence the trajectory of the … Read more

Sarine Profit Nosedives as Global Slump Hits Sales

Sarine Technologies saw a drop in revenue and a sharp slide in earnings for the first half of 2023 as demand for the company’s manufacturing equipment slowed. Sales declined 24% year on year to $23.7 million in the six months that ended June 30, the Israel-based producer of technology for the diamond industry reported Sunday. … Read more

Alrosa reports strong diamond sales despite sanctions

Sanctions-hit Alrosa kept diamond sales in the first half of 2023 at the year-ago levels, the Russian company said on Monday as it reported financial results for the first time since Moscow’s 2022 invasion of Ukraine. Efforts to reduce Russia’s revenue from diamond exports and to build on Washington’s existing sanctions on Alrosa, the world’s … Read more