18-Day Blockade Ends at Lulo Mine
February 21, 25
The blockade that disrupted work at the Lulo alluvial diamond mine in Angola has ended peacefully, Lucapa said yesterday (20 February) and mining has resumed. Angry locals protested outside the mine for 18 days in a dispute with... Read More...
Winston Red Gifted to The Smithsonian
February 21, 25The Smithsonian's National Museum of Natural History is to display a dazzling collection of 41 fancy color diamonds owned by the late Harry Winston, including the "exquisite" 2.33-carat Winston Red. Ronald Winston, son of the King of Diamonds... Read More...
Anglo Slashes Value of De Beers by over 40%
February 20, 25Anglo American today announced a $2.9bn write down in the value of De Beers, its loss-making diamond miner, as tough market conditions persist. The UK-based mining conglomerate said its 85 per cent stake in the company is now valued... Read More...
Russians Rushing to Buy Investment Diamonds
February 20, 25Wealthy Russians are rushing to buy investment-grade diamonds, according to VTB, the country's second-largest bank. It says the number of diamond purchases by individuals for their portfolios soared by 60 per cent last year, largely as a result... Read More...
New Partner for Sierra Leone Diamond Mine
February 20, 25Australian miner Newfield Resources is expected to bring in a partner to run its Tongo diamond deposit, in Sierra Leone. It has agreed a term sheet (non-binding document) with ACA Resources, also based in Australia, to manage operations at the mine.... Read More...
Memo by John Jeffay
February 20The diamond industry has been waiting for demand in China to bounce back. And waiting. And waiting. Three years of zero Covid tolerance finally came to an end in December 2022, but the long-awaited recovery did not follow. Quite the opposite, in fact... Read More...