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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India’s diamond traders complain about higher cost of procurement of roughs in Mumbai

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Diamond traders in Mumbai are complaining about not getting stones directly from miners like De Beers, Rio Tinto and Alrosa due to taxation issues. During the auctions at Mumbai’s Indian Diamond Trading Centre (IDTC), the traders said their cost has increased substantially, as they now have to procure the rough diamonds from overseas hubs. Nearly […]

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Chinese and Indian sentiments pushes consumer demand for diamond globally in 2017: Report

The consumer demand for diamond jewellery has risen globally, riding high on the rising retail sentiment in Chinese and Indian markets, according to De Beers’ ‘Diamond Insight Report: 2017’. The consumer demand for diamond jewellery saw a marginal growth in 2016, driven by strong performance in the US, where the demand exceeded $40 billion for […]

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