Troubled Petra Faces Sale of Company or Assets
October 05, 26
Petra Diamonds today (October 5) said it had appointed a financial adviser to manage a strategic review - a possible precursor to the sale of its Cullinan mine and other assets, or of the entire company. The London-listed miner, which once operated a portfolio... Read More...
De Beers Takes Full Ownership of Gahcho Kue Mine
October 05, 26De Beers is to take full ownership of the Gahcho Kue diamond mine in Canada's Northwest Territories after financially troubled Mountain Province Diamonds agreed to transfer its 49% stake. The agreement, announced October 1, gives De Beers 100%... Read More...
Namdeb Unveils Biggest Diamond in Two Decades
October 04, 26Namdeb, the joint venture between Namibia and De Beers, has unveiled a 176.29-carat diamond that it describes as "the largest diamond of its kind recovered at the operation in two decades". The diamond, named "Owishi," was recovered from the... Read More...
Rio Tinto Sells Last of the Argyle Pinks to British Jeweler
October 02, 26Rio Tinto has sold its remaining Argyle pink diamond inventory and transferred ownership of the Argyle Pink Diamonds brand to British jeweler Boodles. The deal, announced on October 1, comes almost six years after Rio Tinto shut the Argyle mine in ... Read More...
Fancy Intense Yellow Fetches $550,000, but Auction Highlight is Unsold
October 02, 26A 23.34-carat fancy intense yellow VVS1 diamond ring sold for HKD4.3 million ($550,810) at Phillips' Hong Kong Jewels Auction, just shy of its high estimate. But what was billed as the highlight of the event, a Bulgari 9.86-carat Kashmir sapphire and diamond ... Read More...
Memo by John Jeffay
October 01There's a critical lesson to be learned from a diamond scandal currently unfolding in Vietnam. And it's the importance of customer confidence. In case you missed the big news from Ho Chi Minh City, here's what happened: PNJ (Phu Nhuan Jewelry) ... Read More...