Israel Diamond Exchange Elects Third-Generation President
November 12, 26
Shai Schnitzer has been elected president of the Israel Diamond Exchange, continuing a family tradition that now spans three generations. He follows in the footsteps of his father and grandfather, both of whom held the presidency. His grandfather... Read More...
Bulgari Pink Sells for $14.8m at Christie's Geneva
November 12, 26A 24-carat pink diamond ring by Bulgari sold for $14.8 million (CHF12,086,000) at Christie's Geneva auction, above its low estimate of $12 million (CHF10 million) but well below the high of $18 million (CHF15 million). The emerald-cut Fancy Intense Pink ... Read More...
Loss-Making Alrosa Suspends Mining at More Deposits
November 12, 26Alrosa has suspended mining at several more unprofitable deposits as it steps up cost-cutting measures amid continuing weakness in the diamond market. The latest suspensions were announced on November 9 by CEO Pavel Marinychev and include operations... Read More...
Jeweler Robbed of $900,000 in Armed Home Invasion
November 11, 26Five armed men allegedly stormed a US jeweler's home, beating him with firearms and threatening his family before escaping with jewelry and watches worth an estimated $900,000. Alain Guevara Hernandez, known as "El Yuma", said the robbery took ... Read More...
Suspect to Plead Guilty in $100m Brink's Jewel Heist
November 10, 26One of seven men accused of stealing $100m in jewelry from a Brink's armored truck in California, USA, has agreed to plead guilty, more than four years after the theft. Carlos Victor Mestanza Cercado, 32, is expected to enter a guilty plea to a federal robbery... Read More...
Memo by John Jeffay
November 12Botswana wants to double its stake in De Beers. It also wants to reduce the dominance of De Beers in its diamond industry. There's a curious paradox here. On the one hand, President Duma Boko announced just this week that Botswana intended to increase... Read More...