De Beers’ Builds New Device That Can Screen 3,600 Diamonds Per Hour

De Beers’ innovation arm, Ignite, is launching a new diamond verification instrument which it promises can automatically screen large volumes of melee at speed, and identify rogue lab grown diamonds. According to De Beers, the device can be “easily operated in-house with no specialist expertise required,” further adding to the novelty of the device.

Technology

New Financing Possibilities for Mid-Size Diamond Dealers Based In Antwerp

Antwerp welcomes a new player in the diamond district: Clarity Capital Finance. The company is an Antwerp-based Multi Seller Trade Receivables Finance Platform, a bespoke SPE set up for the purpose of providing trade receivable finance initially to mid-size diamond dealers based in Antwerp.

Finance and Trade

UPDATE: Auction Date Released on New Arctic Canadian Sales - Largest Fancy Vivid Yellow Gemstone Discovered in Canada

UPDATE (Nov. 24, 2022): ARCTIC CANADIAN ANNOUNCES AUCTION VIEWING DATES

Where can they come and do viewings: Arctic Canadian Diamond - Schupstraat 15

When: 08-14 December viewings and on 15 December live auction
Who should they contact for an appointment: receptionantwerp@arcticcanadian.ca
More info at: latifa.elkostit@arcticcanadian.ca

Rough Market

Petra Achieves US$61.3 Million in Second Tender for FY 2023

Petra Diamonds Ltd on Thursday said it increased its diamond sales in the second tender for the financial year, but the average price per carat fell. The diamond mining company with operations in South Africa and Tanzania said its diamond sales in its second tender that ended November was GBP61.3 million, trebling from USD21.5 million during its second tender in October 2021 of its financial year 2022 that ended June 30.

Rough MarketRetail and Consumer Confidence

Mountain Province Finds New Kimberlite Around Gahcho Kue Mine

Mountain Province Diamonds has found new kimberlite on the claims and leases surrounding the existing Gaucho Kué mining operation in the Northwest Territories. The new KE kimberlite “is a distinct occurrence that is located about 450metres east of the Kelvin kimberlite,” the Toronto-based miner said on Wednesday. Further drilling of the KE kimberlite is planned for the 2023 exploration program, Mountain Province said. The mine is slated to operate until 2028.
Gahcho Kué is a joint venture between Mountain Province holding a 49% stake and De Beers Group, which owns 51%.

Mining and Exploration

Phillips Hong Kong Announces Auction of 26-Carat Diamond

Phillips auction house in Hong Kong has announced that it will hold its Jewels and Jadeite sale on Nov. 27. The event will be putting some of the rarest diamonds (both colored and colorless), Burmese rubies, vivid yellow diamonds along with other items on the ballot. The highlight of the auction is a brilliant-cut 26.12 ct. unmounted diamond that’s expected to fetch between $2.3 million and $3 million. Not only is the stone considered the most chemically pure of all diamonds as a type IIa, it’s D flawless, which is regarded as the most coveted of the colorless diamond spectrum.

Jewelry

Natural Diamond Council Launches the New Edition of The ASSURE 2.0 Program Online Portal

In efforts of improving customer protection, the Natural Diamond Council (NDC) has announced the launch of the new ASSURE 2.0 online portal. The updated portal enables all purchasers of Diamond Verification Instruments to browse through the Directory, understand the features and analyse the results of the new series of ASSURE testing.

Retail and Consumer Confidence

Petra Suspends Williamson Mine Activity for up to 3 Months Due to Dam Breach

Petra Diamonds representatives have announced that they will suspend operations for up to three months following the breach of its tailings dam at the Williamson mine, in Tanzania. There is currently a team of experts from Tanzania's National Environment Management Council (NEMC), together with Petra representatives assessing the full scope of the damage. Petra representatives reported three minor injuries and damage to 13 homes after the breach caused widespread flooding.

World News

Lucara Announces 10-Year Extension on HB Antwerp Sales Agreement

Lucara Diamond has concluded and extension on their diamond sales agreement with Lucara Botswana, and HB Antwerp Antwerp Trading, with the intent of selling +10.8 carat rough diamonds produced from Lucara’s Karowe mine through December 31, 2032. The general terms of the deal are as follows: Lucara’s +10.8 carat production is sold at prices based on the estimated polished outcome of each diamond, determined through state-of-the-art scanning and planning technology, with a true up paid on actual achieved polished sales thereafter, less a fee and the cost of manufacturing.

Mining and ExplorationRough MarketOrigin Tracking

13.15-Carat Pink Diamond Promises to Fetch $35 Million

Christie’s is at it again, presenting one of the finest fancy vivid pink emerald-cut diamonds ever to be offered at auction as part of its Magnificent Jewels sale on 6th December, in New York.
The Fancy Vivid Pink Diamond Ring (estimate: $25,000,000-35,000,000) is set with a 13.15-carat VVS1 clarity, potentially internally flawless diamond.

Polished

7 Exceptional Diamonds Earn Over $20 million at Luanda Tender

Lucapa Diamond Company Limited has announced earlier this week that seven exceptional diamonds achieved USD $20.4 million on international diamond tender. The international diamond tender was conducted by SODIAM E.P. in Luanda, Angola and featured seven special sized diamonds weighing 767 carats. The diamonds were recovered by SML from the Lulo alluvial mine.  Most notably, “The Lulo Rose”, a 170-carat fancy coloured diamond was among the stones up for tender, along with three +100 carat white Type IIa diamonds and three other special sized white Type IIa stones.

World NewsRough Market

GIA and AGS Merge Operations with GIA Taking Over AGS’ Grading Division

The American Gem Society (AGS) will shut down laboratory operations at the end of this year and integrate them into the Gemological Institute of America (GIA).
AGS Laboratories’ research staff, intellectual property (IP), technology and Las Vegas facility will become part of the GIA, the two organizations announced Wednesday. AGS Laboratories will continue to provide services until the end of 2022 and will contact clients with details of the transition, it said.

Grading

SODIAM heralds Large Stone Diamond Tender to be held in Luanda, Angola

SODIAM, the State-owned company responsible for marketing Angola’s diamond mining output has announced that they will hold a tender in Luanda.  Viewings are scheduled to take place between 24 October and 14 November 2022 at SODIAM’s office and the bid submission - electronically only - will end on 15 November 2022 at 10:00 a.m. Luanda time.
The sale is exclusively targeting SODIAM-registered customers that have a proven expertise in large stones, as the tendered lots will include a total of (43) single stones:

Finance and Trade

KAO Mine Breaks Personal Record with a new 47.80-carat Pink Diamond

In recent years, the Kao Mine in Lesotho has established itself as a leading producer of exceptional pink diamonds. Over the last few years, some remarkable stones have been recovered, including the Pink Storm, the Purple Princess and the Rose of Kao. The last discovery, the Pink Palesa a 21.86-carat Pink Palesa diamond, was sold in June of 2021 in Antwerp by Bonas Group.

Mining and Exploration

Sotheby’s announces new auction of De Beers Exceptional Blue Diamonds – Collection expected to fetch over $85 million (US)

After the recent record setting price breaker auction of the Williamson Pink Star, Sotheby’s now announces that they will soon auction eight blue diamonds sourced from the De Beers Group, with the De Beers Exceptional Blue collection expected to fetch more than $US85 million.

Polished

De Beers Welcomes Al Cook as New CEO

Mid September Bruce Cleaver still attended FACETS 2022, the conference on Diamonds in The Age Of The Consumer in Antwerp, organized by the Antwerp World Dmaiamond Center (AWDC). Today he announced that he will be stepping down from his role of CEO of De Beers after 8 years of holding the post, opting for the role of co-chairman of the diamond behemoth.  He joined De Beers group in 2005 and became CEO in 2016.

Mining and Exploration

Williamson "Pink Star" Sets World Record For Highest Price per Carat

Selling to an undisclosed buyer at the Sotheby’s auction house in Hong Kong, the Williamson Pink Star diamond sold at 58 million dollars, fetching more than double the anticipated sales price. The pastel-hued diamond was named in honor of two other pink diamonds, the CTF Pink Star, which sold for $71.2 million in 2017, and the "Williamson" diamond, a pink diamond gifted to Queen Elizabeth II.
The pink colored 11.15-carat diamond is a rare find among gem quality stones and was discovered at the well-known Mwadui mines in Tanzania.

Jewelry

Lucapa Finds Massive 170ct Pink at Lulo Mine

Australian miner Lucapa discovered a massive 170ct pink diamond at its Angolan Lulo mine, believed to be the largest pink recovered in the past 300 years. The incredibly rare find is named "The Lulo Rose".

Rough MarketWorld News

Gem Diamonds Recovers 114ct Type I White

China's 1H 2022 Diamond Imports Decline Due To Covid19

Since March 2022, both the polished diamond import and diamond retail market have taken a toll from a new wave of Covid-19 pandemic in China, as the local administrations nationwide have strengthened preventive and control measures.

Polished

Sarine Partners with China’s NGTC Lab on Light Performance Grading

Israel-based diamond tech company Sarine Technologies and the Chinese state lab National Gemstone Testing Center (NGTC) announced a partnership that includes Sarine’s light performance technology (“Sarine Light”) has resulted in a co-branded new industry standard for this grading feature on the Chinese market. NGTC will include the light performance grading in its grading reports.

GradingTechnology

Four Years in the Making: Van Cleef & Arpels, Antwerp’s Taché and Samir Gems Reveal Legend of Diamonds set

Last week, Van Cleef & Arpels revealed its Legend of Diamonds, 25 Mystery Set jewels. The process took four years to complete, from the moment Antwerp based diamond companies and manufacturers Taché and Samir Gems bought the 910ct, type IIa Lesotho Legend discovered at the Lesotho Letšeng mine, in 2018 to the 67 diamonds that were cut by Antwerp’s high-tech diamond polishing company Diamcad, to the creation of a bespoke Mystery Set collection of 25 unique pieces incorporating the polished stones.

ManufacturingPolishedTechnology

Iris Van der Veken Heads Luxury Brands Sustainability Project

The “Watch & Jewellery Initiative 2030”, initiated last year by Cartier (Richemont) and conglomerate Kering, has appointed Belgian Iris Van der Veken, former Executive Director of the Responsible Jewellery Council (RJC), as Executive Director and Secretary General. Van der Veken’s task will be to set up a governance structure that can help the initiative to reach its goals, enabling participating brands and companies to achieve commitments regarding climate, diversity, health and safety, labor conditions etc.

JewelrySustainability

Botswana President Masisi Visits Antwerp Diamond Industry

On Tuesday, President Masisi of Botswana, the First Lady,  and a large delegation including the country's Minister of Minerals and Energy Moagi and Minister of International Affairs and Cooperation Kwape visited the Antwerp diamond community.

Rough MarketFinance and TradePoliticsWorld News

Antwerp Industry Body AWDC Appoints David Gotlib as New President

The Antwerp World Diamond Centre (AWDC), the industry organization representing Antwerp’s 1600 diamond companies and service providers, has appointed David Gotlib as its new President, replacing outgoing President Chaim Pluczenik. The Board also appointed Sahag Arslanian and Amish Jain as Vice Presidents.

PoliticsRough MarketManufacturingPolished

In Memoriam: John Lawrence

By Mark Hanna

Opinion piece

Angola Increases Govt Stake in Catoca

The Financial Times reports that the Angolan Government has blocked and taken over the 18% stake of the Chinese company LLI (part of Sonangol) in Catoca. The Government now holds 59% of shares in Angola’s largest mine through IGAPE, the state body managing govt shareholding in companies active in the country. The move is considered another step in President Lourenço’s reform policy, reducing the interdependence with China that was established under the Dos Santos regime, when deals between Angola and China, especially in the oil business, were booming.

Mining and ExplorationPolitics

GIA Abandoning Paper Certs by 2025

The Gemological Institute of America (GIA) announced that it has started a winddown of its paper reports, starting with its most popular article, the Diamond Report, to go digital only in January next year. Graded diamonds will be returned with a QR code and the report can be consulted online or via GIA's new app. GIA is also launching an AI-based (Artificial Intelligence) service for diamonds graded in the new system, matching the inscribed diamonds with the digital grading report via a dedicated instrument, which will be available later this year at US$695, JCK News reports.

GradingTechnology

LVMH Invests in Israeli LGD Producer Lusix

Israel-based Lusix, producer of lab-grown diamonds completed an investment round of US$90m, and counts LVMH Luxury Ventures as one of its newly onboarded investors. The company will use the money to expand its production capacity later this year. In a Q&A with JCK News, industry analyst Paul Zimnisky discusses LGD trends, saying LGD prices have been dropping significantly lately as supply is booming. A 1.5ct for example dropped from US$3,500 to US$3,000, Zimnisky noted.

Technology

Gem Diamonds Unearths 245ct Type II White, 3rd 100+ct in 3 Weeks

First Newfield Resources Tongo (SL) Sale in Antwerp Exceeds Expectations

Australia-based Newfield Resources, concluded its maiden sale of 5333ct rough produced in the miner’s Sierra Leone Tongo mine, via Antwerp tender specialist Bonas Group successfully, with total revenues amounting to US$1.44m. Strong demand pushed prices for the 15 trial sale lots to an average of US$269/ct, well over Newfields estimation of US$222/ct. Newfield will conduct more sales this year as the company starts production at two of the five identified kimberlites on the Tongo mining leases.

Rough Market

Zimbabwe Independent Claims 20m$ in Diamond Revenues Disappeared through Shady Deal

According to the Zimbabwe Independent, they have obtained evidence that over US$ 20m of diamond revenues was siphoned out of the country as the state-controlled diamond sales agency fails to handle continued corruption and malpractices. In its most recent tender, the four parcels on the block were won by two companies, Diamore DMCC (3 parcels) and NRTS Diamonds Ltd (1 parcel).

Rough Market

DRC Ministry of Mining, AWDC, DDI@RESOLVE and Everledger Kickoff ASM Pilot in DRC

During a kickoff meeting that took place in Kananga, in the DRC’s Kasai region last week, the Antwerp World Diamond Centre (AWDC), together with the DRC’s Ministry of Mining and its subdivisions SAEMAPE and CEEC, NGO DDI@RESOLVE and tech company Everledger initiated OrigemA, a pilot project that aims to set up a fully transparent, digitally enabled mine-to-market program for Artisanal and Small-Scale Mining (ASM) cooperatives in the DRC.

Mining and ExplorationOrigin TrackingSustainability

Rio Tinto Continues Legacy with Argyle Pink Partner Program

1,5 years after the closing of the famous Argyle mine in Western Australia, which produced the vast majority of the world’s fancy pink diamonds, Rio Tinto announces a partner program that will continue the legacy of the Argyle Pink Diamonds brand, releasing the names of the first two “Icon Partners”, John Calleija and Joh Glajz, both having worked with Argyle’s precious pink diamonds for decades.

PolishedMarketing

Lucapa Merlin Mine Update

Australia-based Lucapa acquired the Merlin Diamond Project in the Northern Territory, Australia in 2021. The miner is currently progressing the Merlin Feasibility Study and assessing different mining methods for the kimberlite pipes including vertical pit mining (VPM), illustrated in this animation.

Mining and Exploration

Gem Diamonds Discovers Top Quality 125ct Rough

First Element Reports Successful Jagersfontein and Rooipoort Sale in Antwerp

First Element reports extremely strong results from their Antwerp sale of Jagersfontein Developments and Rooipoort Developments production which closed on Monday (23rd May) at the Antwerp Tender Facility. 100% of the parcels on offer were sold with increases in prices seen across all categories, especially in the smaller goods. There were 112 companies who placed bids with 62 of them being successful. “It appears that the diamond market has recovered exceptionally well after the uncertainty seen in recent weeks.

Rough Market

Fintech To Offer Investment Diamonds in Shares

Fintech company Luxus this week launched a platform where it plans to offer investment grade diamonds, fractionalized into smaller shares, modeled after fractionalized investing models such as the art platform Masterworks. The first diamond the company wants to list is an Argyle pink valued at US$400k, divided into 2,000 shares of US$200 each, pending SEC approval this month. Luxus gathered US$2.5m in seed money last summer and is the brainchild of former Blackstone managing director Dana Auslander and luxury PR specialist Gretchen Gunlocke Fenton. 

Finance and Trade

Lab-grown Diamond Jewelry Sales on the Rise: Ecologically or Budget Driven?

According to CNN Business, lab-grown diamond jewelry sales are surging. But why is that? CNN asked a few diamond specialists to weigh in on this matter.

Independent diamond industry analyst Edahn Golan confirmed the increase. March data showed the number of sold engagement rings with a lab-grown diamond rose by 63% compared to last year, while the sales of engagement rings with a natural diamond declined by 25% in the same period.

SustainabilityMarket AnalysisJewelry

Petra Tender 5 FY2022 Yields US$ 86.1 million

Petra Diamonds announced the results of their Tender cycle 5 of fiscal year 2022. They sold 635,806 carats for a total of US$86.1 million. Prices decreased by 23.7% compared to Tender 4 (March 2022) but were up 3.2% on Tender 3 (December 2021).

The tender included a 13.74 ct blue Exceptional Stone for the Cullinan mine. The stone was sold into a partnership with Stargems for US$ 5.7 million, with Petra retaining a 50% interest in the profits.

Mining and ExplorationMarket Analysis

Tongo Diamond Mine Production Headed to Antwerp

Australian diamond exploration and development company Newfield announced they signed an exclusive diamond sales and marketing agreement with the Bonas Group. Newfield’s flagship asset is the Tongo Mine Development in eastern Sierra Leone. 

Through this partnership, Newfield will be able to fully authenticate the source of the Tongo diamonds sold, via the Sarine Technologies traceability program used by Bonas. Buyers and retailers of those goods will therefore have full traceability of the diamonds’ origin.

Mining and Exploration

Record Breaking 'De Beers Cullinan Blue' Fetches 58M

Today the step-cut fancy-vivid blue diamond weighing 15.10 carats sold for (450.9 million HKD) US$57.47 million, or over US$3.8 million per carat, at Sotheby's Hong Kong auction.

World News

De Beers Returns to Angola, Inks Deal with Endiama

Iconic diamond miner De Beers this week now officially returns to Angola, as the Anglo American diamond mining division signed two mineral investment deals with the State's mining entity Endiama, giving the miner exploration rights for 35 years in the Northeast of the country. Each exploration concession will have a separate joint venture, with the majority of shares held by De Beers, with an option for Endiama to increase it's share.

Mining and Exploration

GIA Developing Diamond Source Verification Service

GIA announced it is developing “GIA Source Verify”, a service aimed at retailers and consumers, to be launched in the near future, using “third-party verified documents, such as KP certificates and invoices”, to provide “reliable diamond origin information”. Although apart from a landing page, not much information on the process behind the service is yet available, it seems GIA will be focusing on a (digital) paper trail rather than technology for the information it will include in Source Verify, which will be made available for consumers at no additional cost.

Origin TrackingCompliance

Tiffany Embracing the Metaverse?

In recent weeks both the Arnault family and Tiffany & Co. have made headlines when it comes to the Metaverse. Days after his father, LVMH chairman Bernard Arnault signaled his wariness of the metaverse "bubble", Alexandre Arnault changed his profile picture on Twitter and Instagram to a Cryptopunk NFT (PFP). Alexandre, who is the executive VP of product and communications at Tiffany & Co., purchased an NFT titled Punk #3167 for ETH 160, roughly USD 415,000.

Technology

Sarine AutoScan High-Speed Robotic Scanning System Released to Beta Testing

Sarine announced it is commencing beta testing of its new AutoScanTM system, an innovative robotic system that executes fast and accurate data acquisition of rough diamonds for traceability and other purposes.

Technology

Botswana Wants More Out of De Beers Deal, modeled after Lucara - HB Antwerp

Africa Intelligence reports that Botswana’s President Masisi, speaking at a gala dinner hosted by Lucara Diamonds, is adding pressure to the negotiations with De Beers on a renewed Debswana contract, the 50/50 joint venture between the government and De Beers. In the current agreement, 75 % of Debswana’s rough is sold via De Beers, 25% is sold via the state-owned Okavango Diamond Company, the latter achieving record sales revenue via its sales in Antwerp last year.

Mining and ExplorationRough MarketPolitics

Namdia Beefs Up Client List

Namdia, the state-owned diamond authorized to sell 15% of rough production from the Namibian government and De Beers joint venture Namdeb, has released its updated client list, including nine Antwerp-based diamond companies last Friday. Namdia now has 36 core clients for the next three-year cycle, up from 16 in the previous years (2019-2021). Earlier this year, in February, Namibian President Hage Geingob visited the Antwerp diamond community, to discuss business opportunities.

Rough Market

Bonas Group Adopts Sarine Traceability Solution

The Bonas Group, a global tender and auction house, announced they are adopting the Sarine Diamond Journey traceability program and will offer stones with a registered geographical origin.

Bonas brings diamond output directly to the market. Therefore, the origin can be confidently assured. The diamonds will be registered using the Sarine Diamond Journey ecosystem. The rough diamonds will be accurately scanned, allowing their subsequent traceability throughout the polishing process, providing retailers reliably traced diamonds from varied origins.

TechnologyOrigin Tracking

De Beers and Namibian Government Launch Diamond Recovery Vessel

Mining company De Beers and the government of Namibia officially unveiled a new diamond recovery vessel: ‘Benguela Gem’. The vessel will commence operations from next week.

Mining and Exploration

HK Sept Fair Becomes Singapore Sept Fair

Informa Markets announced the mother of all fairs, Hong Kong September, will temporarily be moved to Singapore, under the name JGW Singapore, taking place Sept 27-30 at Singapore Expo. The move, after two years of absence as international trade show, will allow foreign buyers and exhibitors to attend. 

Polished

Major Blow For UAE: Gray Listed over AML Concerns

Several media report the global financial watchdog FATF today in Paris at its plenary session has decided to "gray list" the United Arab Emirates over concerns that the UAE hasn't made enough progress in tackling illicit financial flows, Bloomberg stated.

Finance and TradeWorld News

Antwerp Beldiamond Offers Diamond Backed By Blockchain

Antwerp Jeweler Beldiamond teamed up with digital transparency company Everledger to offer diamonds backed by blockchain. Thanks to this technology, the journey of a diamond can be entirely traced and recorded, creating its own unique digital identity. According to Beldiamond, blockchain technology paves the way for diamond sourcing to become even more transparent and responsible.

Origin TrackingSustainability

Mountain Province Inks Deal with Chow Tai Fook, Record Sales in Antwerp

Mountain Province, holding a 49% stake in the Canadian Gahcho Kué mine, reports its latest Antwerp sales, with proceeds amounting to US$41.4m for 322,547ct, achieved a record ROM price of US$126/ct, up another 13% compared to the first sale of the year.

The company also announces a supply agreement with Chow Tai Fook, multinational jewelry retailer with presence in China, Japan, Korea, Southeast Asia and the US, providing the retailer with a select range of diamonds over a one-year, renewable term.

Rough MarketMining and ExplorationRetail and Consumer Confidence

Lucapa Reports Record Revenue in 2021

Mining company Lucapa reported a record full-year 2021 total revenue of US$98 million or an average of US$1,564/carat. The miner also announced record operational performances from both Lulo (SML), the company’s 40% held alluvial diamond mining operation in Angola, and Mothae in Lesotho, the latter sold via Antwerp. Both operations processed record volumes, recovered and sold record carats, and made some exceptional diamond recoveries. In addition, Lulo’s exploration sampling includes the discovery of 13 diamonds from the Canguige catchment area, including eight Type IIa diamonds.

Market Analysis

Predicted Supply Squeeze Arrived?

According to Richard Duffy, CEO of mining company Petra Diamonds, the long-predicted supply squeeze is being reflected over all diamond categories. This would mark a structural change in the diamond market, with increasing prices creating a robust and supportive market.

Duffy points out the current strong demand pull into an inventory pipeline where inventories are largely depleted. With a very low ability of suppliers to provide inventory, this will result in higher demand than supply and thus increase prices over the entire value chain.

Mining and ExplorationMarket Analysis

Strong Demand Boosts De Beers 2021 Results

De Beers, part of Anglo American, says industry recovery from the COVID impact is reflected on the company’s 2021 results. Total revenue of the company increased significantly with 66% to $5.6 billion in 2021, with rough diamond sales rising to $4.9 billion compared to $2.8 billion in 2020. Rough diamond sales were driven by positive sentiment and strong demand for diamond jewelry in key consumer markets like the US and Mainland China. Both diamond jewelry markets posted positive growth, not only compared to 2020 but also to the pre-pandemic year 2019.

Market Analysis

Petra Revenue Jumps 49%, Cullinan and Finsch Extended to 2030

Miner Petra Diamonds, which sells its entire production via Antwerp, announced they will invest $289 million to extend the life of both the Cullinan and the Finch mine. Thanks to an investment of approximately $173 million in the Cullinan mine and $216 million in the Finch mine, the mines will be able to stay in business until 2031 and 2030 respectively. Expectations are this would yield an additional 30% in revenue. According to Petra, both mines have the potential to produce even longer.

Market Analysis

Rio Tinto Sales Benefit from Strong Prices

Amid reduced supply, Rio Tinto’s rough diamond sales rose by 9% to $501 million in 2021. Strong diamond jewelry sales and thus growing strong prices bolstered these results.

“We saw a recovery in diamond prices following a pandemic-related buildup of demand and low inventory levels”, Rio Tinto stated.

Market Analysis

DDI@Resolve mourns loss of Dorothéé Gizenga

We were very saddened to receive the news of the passing away of Mrs. Dorothée Gizenga, founding Executive Director of the Diamond Development Initiative (DDI), now part of Resolve. Mrs. Gizenga passed away of complications from diabetes on February 18 in Kinshasa.

She was a leader in the campaign to end conflict diamonds from the start when the Kimberley Process was established and was a tireless advocate on behalf of the world’s 1.5 million artisanal diamond miners as executive director of DDI.

World News