Global mining output in February hits three–year low; Asia continues to hold the greatest rewards

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Mining production globally registered its fourth consecutive contraction, falling 7.5 per cent year-on-year in February compared to a 3.3 per cent fall the previous month, Statistics South Africa said in a report. This registers as the largest fall in production since March 2016 when output fell 17.4 per cent year-on-year.  Diamonds, iron ore and gold […]

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Diamond prices falling; Bank credit to Indian diamond players drops drastically: Rapaport report

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A report made public by Rapaport reveals that polished-diamond prices softened in January, with 1-carat stones falling by 0.4% last month and 1.8% compared to January 2018, while 3-carat gems fell by 1.8% last month and 5.9% compared to last year. Smaller diamonds saw a less steep decline in prices as 0.5-carat rocks fell by […]

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Global diamond trading slowed down in March, thanks to Nirav Modi — report

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Diamond prices remained flat in March for several reasons, one of which was the famous case against Indian jewellery tycoon Nirav Modi who is accused of spearheading a $2 billion fraud against India’s state-owned Punjab National Bank, a new report from Rapaport said. “The RapNet Diamond Index (RAPI for 1-carat diamonds slid 0.1% in March. RAPI for […]

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Diamond Giant DeBeers initiates work on the world’s largest custom-built offshore diamond mining vessel in Namibia

Diamond giant De Beers is building a new diamond mining exploration vessel — the largest of its kind — for Debmarine Namibia. The 176-m-long vessel that will cost $142-million to build is expected to join the fleet within three years. Debmarine Namibia is a 50:50 joint venture with the Namibian government. “There is a great […]

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Tax reforms in the United States augur well for India’s diamond traders – report

India’s diamond traders are eyeing an increase in business from the tax reforms in the United States that they believe will lead to an increase in the disposable income of Americans and consequently higher spending on lifestyle products including diamond jewellery, reports Economic Times. The Gem & Jewellery Export Promotion Council has also partnered with […]

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