The Botswana government is set to receive a US$ 1.5 Billion loan from the African Development Bank (AfDB). According to Bloomberg this money will be used to fill part of the budget deficit for the year 2009/2010, said an e-mail statement from the Tunisia based bank . The U.S $ 1.5 billion loan is the […]
Category Archives: Diamonds
Photo above: Chairman of IDC- Stephane Fischler This week the International Diamond Council (IDC) released an update of its “IDC rules for Grading Diamonds”. According to IDC Chairman Stephane Fischler, the rules were incorporated after industry-wide consultations and discussion by the IDC board. Stephane said “It is essential that we keep our focus on bringing […]
De Beers, the worlds largest diamond group is to increase stocks of rough diamonds. The De Beers Managing Director Gareth Penny noted that stocks of rough diamonds were down by 20-30 percent from 2008 peaks. This was disclosed in the first ever Antwerp Town Hall Meeting for diamonds. The news was welcomed by the Antwerp […]
Chairman of the Rapaport Group, Martin Rapaport delivered his keynote “State of the Diamond Industry” at Breakfast 8.am to 10 am on Monday 1st of June at the Annual Rapaport Breakfast and Conference held in the San Palo Ballroom, level 3 ,Venetian Hotel, Las Vegas. At this years meeting Rapaport touched on buying diamonds on […]
One of the worlds largest mining groups, Rio Tinto expects destoking of diamond stocks to end soon. However Rio Tinto noted that they are ready for further cutbacks if there is no inprovement in diamond sales. On Tuesday Brett Clayton, Rio Tintos Chief Executive for copper and diamonds said that they are cutting diamond production […]
Arkansas Crater of Diamonds State Park is a very popular tourist attraction near Murfeesboro, Arkansas. The crater of diamonds state park is one of its kind, the worlds only public owned diamond prospecting and mining site. Visitors are allowed to search for diamonds and other gems in the 37 and 1/2 acre feild. On Saturday […]
Many people lined up in downtown Tokyo today (Monday) for 5000 free diamonds from the French jeweler Mauboussin . This was part of a publicity campaign and an attention seeking drive for diamonds in Japan.Each of the diamond weighs 0.1 carat (10 points). The present value of each diamond is said to be about US$ […]
In an effort to maintain world diamond prices, Russian diamond producer Alrosa will not flood the diamond market. Alrosa has been building up a stockpile of diamonds since the fall in diamond prices last year. Russia had been blamed for flooding the diamond market in the late 1990’s with rough (uncut) diamonds.This led to a […]
Due to the downturn in the economy the diamond industry has been hit, including the world’s most renowned diamond trading center, Antwerp. The Antwerp World Diamond Center (AWDC), which is the official representative of the Antwerp diamond sector has reached agreement with Antwerp banks to accept diamonds as collateral .The deal was announced on Tuesday […]
The Indian diamond export industry has been growing at 5 to 6% over the last few years, but has dropped by 8% in 2008/09 when compared to 2007/08 (US$ 13.02 billion to 14.2 billion).This drop has been attributed to the fall in demand in the United States and Europe due to the global economic meltdown.Diamond […]