In some banking corners one can discern whispering about the inevitable ultimate next step in commoditizing the polished diamond market: trading in futures of parcels of polished on commodity exchanges. Past attempts to encourage the commodization of the diamond... Read More...

The regulatory process involving the Snap Lake diamond project in the arctics of Canada isn’t over yet – but the greatest hurdle is now behind De Beers. The Mackenzie Valley Environmental Impact Review Board has completed the environmental assessment of the Snap Lake Project  and has recommended to the Minister of Indian and Northern Affairs that the project... Read More...

Diamond trade with non-Kimberley compliant countries will stop totally as of midnight July 31, 2003. It will have no impact on the business if Lebanon will be declared non-compliant. However, if the United States were to be declared non-compliant it would mean that Israel, India, Belgium and other centers will not be allowed to ship either rough or polished to the world’s largest Read More...

Diamond mines may well be operating in at least seven out of Canada’s thirteen states and territories in the years ahead. By the end of 2003, Canada will be producing approximately 12 percent of the world’s rough diamonds, placing it third in the world, behind Botswana and Russia... Read More...

The “Committee of Nine” – the governments of countries that must determine by July 31, 2003 which of the some 60 Kimberley Participants truly meet all the Kimberley process requirements – held its first meeting. ONLY SEVEN COUNTRIES PASSED! Thank God that the wars are basically over, because the Kimberley System either ought to file for bankruptcy or get into some form of... Read More...

In a recent presentation, Marcus Randolph, BHP-Billiton’s chief diamond executive, noted that since 1970 rough diamond prices (in real terms) have doubled, while the price of zinc went down 50% and that of copper some 75%. Though diamond prices have still not yet recovered to their peak... Read More...

The (not unexpected) severe reduction in the list of DTC sightholders remains the main topic of discourse in the cutting and trading centers, almost as if there are no other issues on the industry agenda. There are other matters, but they all pale in the enormity and significance of the actions of De Beers and thus it is only logical that the issue remains ‘hot’. Read More...

Last week’s memo reflected market sentiments linking the selection of DTC sightholders and its rough distribution decisions to De Beers’ corporate interests in its LVMH joint retail jewelry venture. It implied that De Beers may be “cornering” the market of the larger goods, strengthening a monopoly status on the upper... Read More...

Some of the (many) New York DTC sightholders removed from the client list have the most amazing, exciting and successful marketing programs. The argument given in most instances to justify the removal is rough “availability”. Read More...

The boardroom drama that took place last week at Trans Hex was stuff of which movies are made of. What was seen as an exciting and done (!) deal was "hijacked" by a third party that now is trying to gain entry into Trans Hex by bringing itself in with the goods of an earlier deal. Read More...