Union Condemns Petra's Mine Suspension and Jobs Threat
June 16, 26
South Africa's National Union of Mineworkers (NUM) has condemned Petra over its decision to put its Finsch mine into business rescue, and to issue a jobs warning for its other deposit, at Cullinan. The union says a total of 1,779 jobs are at risk... Read More...
De Beers: Consumers Spend More, Spend Differently
June 16, 26Average purchase prices for natural diamond jewelry increased by 25% between 2023 and 2025, says De Beers, as the dominance of bridal slipped and people found new milestones to mark with a diamond. Consumers paid $4,063 per piece, on average... Read More...
Fraud Alert on Emeralds Treated After Testing
June 16, 26Emerald buyers are being warned about gems that have had their clarity enhanced AFTER they were laboratory tested. Swiss Gemmological Institute (SSEF) warned yesterday (15 June) that it had seen a growing number of cases in which... Read More...
Charges Dropped in PNB Fraud Case, Modi Still Prime Accused
June 14, 26Corruption charges against bank staff in the $1.85 billion PNB fraud have been dropped, after the Central Bureau of Investigation conceded there was no evidence to support them. But Nirav Modi, the fugitive diamantaire currently being held in ... Read More...
"Two Matildas" Live Sale Raises Over $17m
June 14, 26Lots from a vast family-owned jewelry collection - including many Faberge, Cartier and Tiffany items - raised $17.3 million at the live section of a Christie's New York auction. Ninety-four lots from The Stream Family Collection were sold on 10 June. A further... Read More...
Memo by John Jeffay
June 11One day, two diamond mine closures. News that Petra was suspending operations at its Finsch mine, in South Africa, and that Storm Mountain Diamonds was doing likewise at Kao, in Lesotho, broke on the same day, Friday 29 May. Petra's suspension... Read More...