Gem recovers high-quality 233 ct diamond at Letšeng

233 carat rough diamond at Letšeng

Gem Diamonds has recovered a high quality 233 ct Type II white diamond from its 70% owned Letšeng mine, in Lesotho, the highest dollar per carat kimberlite diamond mine in the world. This follows the recent recovery of a high quality 442 ct Type II diamond, one of the world’s largest gem quality diamonds to … Read more

Covid-19 Ravages De Beers Sales

Canadian rough diamond

De Beers’ sales and production nosedived in the second quarter as the coronavirus crushed diamond demand throughout the pipeline and forced shutdowns at several mines. “Demand for rough diamonds was significantly impacted by a combination of Covid-19 restrictions [affecting] consumer demand and access to southern Africa, as well as severely limited midstream cutting-and-polishing capacity due … Read more

India Trade Urged to Freeze Rough Imports

Rough diamond

India’s leading diamond-trade organizations have called on members to stop importing rough for at least a month to prevent an oversupply and ensure banks maintain their credit to the sector. Companies should consider pausing rough imports from May 15 for a minimum of 30 days, according to a letter from the Gem & Jewellery Export … Read more

Gem Diamonds Retrieves Another Five Big Stones

GEM diamonds

Gem Diamonds has recovered five large, high-quality stones at its Letšeng mine in Lesotho, continuing a strong first quarter for the company’s production. The company unearthed four white diamonds weighing 88, 56, 53 and 33 carats between February 28 and March 3. It also found a “top-quality” 13-carat pink diamond. Those are in addition to … Read more

Ellendale revival on the horizon with increased diamond value

Ellendale diamonds

Gibb River Diamonds has completed a review of the mothballed Ellendale diamond mine in Western Australia that will help it edge closer to a proposed restart. The independent appraisal, which was completed by which was completed by Independent Diamond Valuers International (IDVI) valued gems from the Ellendale 9 East Lobe at $US750 ($1120) per carat. This … Read more

De Beers Reveals Overhaul of Sight System

Measuring a rough diamond

De Beers plans to split sightholders into three categories and offer each group a more bespoke selection of rough diamonds as part of changes to its sales system. Manufacturers, dealers and retailers will sign specific supply contracts designed for the “broad needs” of each business model, a De Beers spokesperson told Rapaport News Thursday. The arrangement will … Read more

Virus Likely to Impact Demand at De Beers Sight

Rough diamonds De Beers

De Beers and its clients expect a slowdown in rough-diamond sales at the company’s Botswana sight this week amid concerns about the coronavirus. “It’s fair to say there will be an impact on rough demand in the short term,” De Beers chief financial officer Nimesh Patel said Thursday in an interview with Rapaport News. “I’d expect … Read more

India’s rough diamond imports fall sharply

India's rough diamonds

Import of rough diamonds fell 15.54% in the first 10 months of this financial year, according to the Gem & Jewellery Export Promotion Council (GJEPC). Industry executives anticipate a further fall of 10-15% in February and March, as manufacturers are not keen to build up inventory in the wake of coronavirus outbreak which has affected … Read more

Karowe Yields Massive 549ct. Rough

Lucara 549 carat rough diamond

Lucara Diamond Corp. has unearthed a 549-carat white diamond at its Karowe mine, the fourth-largest stone in the history of the Botswana deposit. The unbroken stone, which is of “exceptional purity,” is the first large diamond Lucara has recovered using its Mega Diamond Recovery (MDR) equipment, the miner said Wednesday. The unit, which the miner … Read more