Diamond News Archives

(IDEX Online) – Sergey Ivanov, ALROSA's CEO and Chairman, has held meetings with Zimbabwe President Emmerson Mnangagwa regarding diamond exploration investment opportunities.<?xml:namespace prefix = "o" ns = "urn:schemas-microsoft-com:office:office" /?>

Ivanov said: “We had a very fruitful meeting with the President and we discussed the possible involvement of ALROSA in the diamond business in Zimbabwe," according to media reports. “We see very huge potential for the diamond business in partnership with Zimbabwe in terms of new projects.

“Also our company is the global leader in diamond production and we have a lot of technologies and expertise which might be helpful for exploring new fields in Zimbabwe and strengthening the Zimbabwean economy.”

Asked if ALROSA was preparing to invest in Zimbabwe, he said, “Yes, (but) we have to do our homework. We have a lot of discussions with (the Zimbabwe Consolidated Diamond Company) and the Ministry of Mines and I am sure that we will find solutions and interesting projects where ALROSA could be involved," The Herald reported.

“We didn’t discuss precise areas (to open new mines); but we see a lot of new projects, a lot of geological survey that should be done, so it doesn’t mean we will start doing something tomorrow.

“We should investigate all the possibilities; not only in production, but in other areas where ALROSA and Russian expertise might be helpful.”

Ivanov added: “We didn’t discuss marketing because Zimbabwe is capable of selling their rough (diamond) production. We discussed with the Minister of Mines, also, the current situation and we think in general the sales system is improving and the Zimbabwean economy is...

In 2008, in the midst of full-blown financial panic, a bailout vote was put before Congress. It was framed by the Fed and its cohorts as “must pass” or the entire system would fail. They said, point blank, that regardless of the irresponsibility of what it contained, giant taxypayer-funded free safety nets for giant banks, there was no other way.

The bill did not pass, and the Dow dropped over 1,000 points in minutes. Then, after a few key Congressmen were taken to back rooms and were more forcefully convinced, a re-vote was held. The bill narrowly passed.

The measures governments will take at times of perceived crisis are without limit or constraint and seem inconceivable, and are often outright illegal, until they actually occur.

The war on cash is being taken to a new level. China, the world’s most populous country and the world’s second-largest economy, has said that physical cash may soon become obsolete.

Once physical cash is gone, your liberty is gone because government can easily monitor and freeze all digital payments. The only recourse for the Chinese people once their cash is gone will be physical gold and silver.

This brings me to what I’ve warned about for years…

It’s what I call “ice-nine.” This refers to government’s ability to lock down the financial system in the next global crisis. And it won’t be just China.

In the 2008 crisis, governments met the demand for liquidity by printing money, guaranteeing banks and money market funds and engaging in trillions of dollars of currency swaps.

The problem is that the central banks still have not normalized their balance sheets and interest rates since the last crisis and are unlikely to be able to do so before...

(IDEX Online) – More than 1,000 visitors from India and across the world are taking part in the Bharat Diamond Week at the Bharat Diamond Bourse (BDB) in Mumbai, India, which opened today. The Bharat Diamond Week was officially opened by the US Consul General in Mumbai, His Excellency Mr Edgard D. Kagan. BDB ended registration five days ago due to the widespread interest in the show, which runs from April 23 to 25, and which is taking place in a specially constructed marquee in the grounds of the BDB.<?xml:namespace prefix = "o" ns = "urn:schemas-microsoft-com:office:office" /?>

"After many months of planning and hard work, we are ready to open the first-ever Bharat Diamond Week," said BDB Vice-President Mr Mehul Shah, who heads the Diamond Week project. "I want to thank all the people who have been involved in creating this inaugural event. It has required an extraordinary amount of planning, effort and coordination and now we are seeing the fruits of all this with an incredible show.

"We had a fantastic cricket tournament last week in the run-up to the Diamond Week, with the winning team being the BDB XI. This created a huge amount of interest and excitement in the Indian trade and for the diamond show. Now the show has started and there is a wonderful atmosphere and something of interest for everyone. There will be a gala dinner on April 24 sponsored by Brussels Airlines, and the airline is offering Business Class tickets in a raffle that will be held during the Diamond Week."

BDB President Mr Anoop Mehta said: "There has been a carnival atmosphere at the bourse since...

A cut-cornered rectangular step-cut fancy intense blue diamond weighing 3.47 carats set a price-per-carat world record for a blue diamond after it sold for $1.9 million per carat to reach almost $6.7 million at Sotheby’s Magnificent Jewels Auction.

The gem’s final price nearly tripled Sotheby’s pre-sale estimate of between $2 million and $2.5 million and pushed up the auction final results to $26.2 million. The blue rock was previously owned by an anonymous midwestern family.

In total, the fine jewelry broker garnered $34 million across its New York spring auctions, says Rapaport.

According to Sotheby’s, buyers from all over the world flooded the Big Apple also emptied their wallets by acquiring a 72.96-carat diamond bracelet for $1.4 million and a 13.70-carat Tiffany & Co. diamond ring for $1.2 million.

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