No Golconda Blue, but Christie's still Raises $72m
May 15, 25
Christie's Geneva sold 100 per cent of lots at its Magnificent Jewels yesterday (14 May) and raised $72.3m - despite the withdrawal of the sale's main attraction, the 23.24-carat Golconda Blue. It carried a $35m to $50m estimate and would have been the... Read More...
De Beers is "Cutting Prices in Secret Deals"
May 15, 25De Beers has reportedly been discounting rough prices - by as much as 20 per cent - to a select group of sightholders. It has offered increased flexibility in times of trouble, but has rarely, if ever, actually cut prices. The current "secret deals" - widely reported... Read More...
Koidu Diamond Mine Lays off 1,000 Workers
May 14, 25Sierra Leone's biggest diamond miner has halted operations and laid off almost all its 1,000 employees after a bitter pay dispute. Workers at Koidu Limited first took strike action last December, and they walked out again in March. They claim ... Read More...
Cop Shoots Woman Suspect in Jewel Raid
May 14, 25A woman suspected of an armed raid on a jewelry store was shot in the leg by a Metro Transit Police officer in Washington, DC, USA. She is alleged to have pointed a gun at the officer after she and a male accomplice attempted to rob Ideal Cut Jewelers... Read More...
Mountain Province Borrows to Offset $25m Loss
May 14, 25Mountain Province today (14 May) announced updated details of a CAD 33m (USD 23.8m) working capital credit facility, to offset heavy losses for Q1. The Toronto-based miner reported a net loss of CAD 34.4m (USD 24.8m) for the three months to ... Read More...
Memo by John Jeffay
May 15Lee Wenham - hero or villain? Who on earth is Lee Wenham, you're asking. Ok, so he's hardly a household name, but he was the brains behind what was very nearly the world's biggest ever jewel robbery. A gang of raiders bulldozed their way into the Millennium Dome... Read More...