Surat Diamond Bourse: 50 Offices are Open, out of 4,700
December 24, 25
The ill-fated Surat Diamond Bourse (SDB), built at a cost of $388m and officially opened by India's prime minister two years ago, is reported to still have no more than 50 operational offices. The building, recognized as the largest office complex by ... Read More...
Stricter Rules to Outlaw Russian Diamonds
December 23, 25importers will need to meet stricter rules from 1 January 2026 to ensure sanctioned diamonds from Russia do not enter the EU. They will have to complete standardized documents, known as Due Diligence Statements on Diamond Origin for all polished stones... Read More...
Botswana Dismisses IMF Warning on Buying De Beers
December 23, 25Botswana's president has dismissed IMF concerns over his country's bid to buy De Beers, and vowed to press ahead. A defiant Duma Boko drew cheers from a crowded public assembly on 15 December when he said it was for the people of Botswana to decide... Read More...
Just 20 Years of Diamonds Left, says Alrosa
December 23, 25The world has just 20 years' worth of economically viable diamond reserves left at current rates of consumption, according to Alrosa, Russia's state-controlled miner. Sergey Takhiev, the company's head of corporate finance and investor relations, says over... Read More...
Government's Lifesaving $83m Loan for Ekati Mine
December 22, 25Burgundy has secured a lifesaving loan from the Canadian government for its Ekati mine. The company was facing imminent bankruptcy and closure of the deposit, amid cash shortages, unpaid debts, a collapsing rough diamond market and punitive... Read More...
Memo by John Jeffay
December 18It looks like Christie's pitched a little low. Their pre-sale estimate for a 13.54-carat Paraiba tourmaline was just $400,000 to $600,000. It sold at their New York Magnificent Jewels auction last week for $4,223,000. So what's the story with Paraiba tourmalines... Read More...