Diamond News Archives
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(IDEX Online) - Alrosa sold $372m of rough and polished in February, a modest seven per cent increase on last year.
By contrast De Beers, its biggest rival, saw comparative sales rise more than 50 per cent.
Alrosa described the current balance between supply and demand as "comfortable" both for miners and rough buyers.
"The recovery in demand for diamond jewelry in key markets well continued in early 2021 thus providing a good support for rough diamonds sales," said Evgeny Agureev, deputy CEO of the Russian state-owned company.
"Midstream companies seek to replenish their stocks of rough, once they see an opportunity for that."
Alrosa's sales for January were higher, at $430m.
Sales of polished diamonds accounted for $9m and $12m of sales in January and February respectively....
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(IDEX Online) - The new Biden administration has bowed to pressure and re-imposed sanctions on Israeli diamond billionaire Dan Gertler.
It reverses a decision by former President Trump, who unfroze his US assets barely a month ago, during his final days in office.
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That move infuriated human rights groups in the Democratic Republic of Congo, who claim he looted the nation's mineral wealth and propped up a corrupt regime.
The Treasury Department has now revoked a special year-long license exempting Gertler's business activities from the sanctions.
It has previously accused him of striking "opaque and corrupt mining deals" with the then-Congolese president Joseph Kabila that deprived the nation of $1.4 bn in tax revenues. Gertler, 47, worth $1.2bn according to Forbes, has denied all accusations.
Washington's U-turn follows representations form 30 civil society organizations in the United States and Congo, as well as Democrats senators Benjamin Cardin, Dick Durbin and Cory Booker.
Gertler (pictured) began trading diamonds in the late 1990s when Congo was in the middle of a bloody civil war....