Rough Diamond

20,000 jobs lost in Surat as diamond demand fades

Plummeting demand for cut and polished diamonds in the West and China has pushed some 20,000 workers out of work in the last one month in Surat, where 80% of the diamonds sold globally are polished. Surat, the main centre of India’s diamond industry, offers employment to some 800,000 workers in its 4,000-odd cutting and … Read more

Top Lots Smash Estimates at Phillips Jewelry Sale

A pink-diamond necklace led the most recent jewelry auction at Phillips, smashing its high estimate to bring in $1.9 million following a “fierce” bidding battle. The oval, 4.05-carat, fancy-intense-pink diamond pendant by Boodles was estimated at $800,000 to $1.2 million at the December 13 New York sale. It is one of eight lots in the … Read more

Sarine Claims Win in Infringement Case

An Indian court has found five manufacturers in Surat guilty of copyright infringement and the illegal use of Sarine Technologies’ software, the Israel-based company reported. “The court’s ruling has made it clear that any company using unlicensed or pirated Advisor software is breaking the law,” said Sarine CEO David Block in a statement Sunday, referring … Read more

303ct. Golden Canary Sets Sales Soaring at Sotheby’s

The 303.10-carat Golden Canary fetched $12.4 million at Sotheby’s Magnificent Jewels in New York on Wednesday, becoming the third most valuable yellow diamond ever sold at auction, the company reported. The pear-shaped, fancy-deep-brownish-yellow stone is the world’s largest known internally flawless diamond. It is also the largest flawless or internally flawless diamond graded by the … Read more

Zimbabwe Diamond Sector to Grow to $1 Billion by 2024

Winston Chitando, Zimbabwe’s mines and mining development minister, said in an interview with the Sunday Mail newspaper quoted by IDEX Online that the country’s diamond sector will grow to $1 billion by the end of 2023. Chitando said that Murowa Diamonds and the ZCDC (Zimbabwe Consolidated Diamond Company) “were expanding their operations and would help … Read more

Bringing over 130 Years of Diamond Expertise to Modern Grading

Confidence is the “fifth C” of the diamond sector and its role has rapidly gained increased importance at every touchpoint of a diamond’s journey. Customers, suppliers, financiers and end consumers all have a rightfully heightened demand of assurance when it comes to diamonds. With more than 130 years of experience as a leader in the … Read more

Alrosa CEO Sergey Ivanov Reportedly Leaving

Alrosa CEO Sergey Ivanov is stepping down from the position, a Russian news outlet reported. The executive has decided to resign before the termination of his contract, according to a Google-translated version of an RBC article. He might move into a role at Volga Group, which controls gas and petrochemicals assets, the report added, citing … Read more