$73m Diamond Smuggling Suspects and the Dollar Bill Codes
July 30, 26
Gang members suspected of smuggling $73 million of diamonds into Vietnam allegedly used the serial numbers from US dollar bills as a secret authentication code. The stones were hidden in luggage, shoes, and clothing and illegally brought from Hong Kong ... Read More...
Jewelry Buyers Duped by AI Scam Website
July 30, 26Buyers were duped by a "jewelry store website" offering 80% discounts that turned out to be an AI scam. They ordered and paid for items advertised as being part of a closing-down sale, but never received their goods. Customers were taken in by... Read More...
TAGS: "Return to Near Normal Trading"
July 30, 26Prices at a sale of rough specials (+10.8 carats) exceeded mines' expectations, said Trans Atlantic Gems Sales (TAGS) as demand grows for high-value goods. The Dubai-based tender house said it achieved a 95% sell-through rate in Luanda, with a total revenue... Read More...
Two Thirds of IGI Revenue Now from Lab Growns
July 29, 26IGI reported significant increases in revenue and profit, with lab growns now accounting for two thirds of all its certification earnings. Revenue was up 23% for the three months to the end of June (Q1 FY27) to RUP 3.7 billion (USD 36 million) ... Read More...
De Beers Rough Sales Down 44%
July 29, 26Rough sales at De Beers slumped during the three months to the end of June, down 44% to $665 million, as owners Anglo American said the sale of its diamond mining unit was progressing. It expects the company to report another loss for De Beers... Read More...
Memo by Erez Jacob Rivlin
July 24Botswana is a nation built on diamonds. On 30 September 1966 the United Kingdom granted independence to what was then known as the Bechuanaland Protectorate, one of the world's poorest populations. Barely five months later, on 1 March 1967... Read More...