Dorothy may have made her way to the Emerald City on a gold brick road, but many diamond sellers have been hoping and expecting the road to riches lay on a diamond BRIC. BRIC, or the four emerging economies (Brazil, Russia, India, and China), are set to unleash millions of new consumers into the luxury diamond market. For two of those economies (China and India) the predictions held true, but Russia and Brazil still have a ways to go to show promising growth in sales in their respective countries. In one case, it appears Russian sales within the country are not as important as sales outside the country as Russian diamond merchants begin to enter their offerings on a global market via famous auction houses. However, both Brazil and Russia lag behind in sales even as their consumers engage economies that get more robust every year. The difference for that may not be in the number of new consumers able to make diamond purchases, but the cultural differences in each of these four BRIC countries. Continue reading »

Diamdel, a company that is a part of the De Beers Group, has reported increased levels of demand for diamonds in the world, as per the numbers recorded by its diamond auctions held in March. In the company’s March auctions, it reported that it sold out 520 lots from the total of 580 lots that went under the hammer. Continue reading »

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The diamond assets of Rio Tinto and BHP Billiton have been drawing a lot of interest since the time the two companies announced that they are reviewing their respective diamond businesses with an eye on offloading them. Continue reading »

(Photo credit: Wikipedia)

It is a well known fact in the global diamond industry that Rio Tinto’s Diavik Diamond Mine is on the block. However, for the first, analyst’s projections that Harry Winston the luxury jeweler giant would be interested in acquiring the Diavik Diamond Mine has finally been confirmed by Harry Winston, albeit tentatively. Continue reading »

The open pit of the Argyle Diamond Mine near Kununurra, Australia. This is the biggest diamond mine in the world; the dump truck in the foreground is four stories tall. (Photo credit: Wikipedia)

The recent downturn in the near term prospects of the global diamond industry is about to result in another major global diamond mining giant pulling out of the industry. Rio Tinto recently announced that it would be reviewing its diamond business and would even consider selling it to good offers. Continue reading »

India, which is considered to be one of the global leaders when it comes to cutting and polishing of rough diamonds, has seen its exports of polished diamonds fall drastically in the month of February on a year on year basis in terms of both volume and value. Continue reading »

Location of Masvingo Province in Zimbabwe (Photo credit: Wikipedia)

Botswana Diamonds, a diamond mining firm from Botswana, has revealed that it has started efforts towards verifying the potential for kimberlites in the Masvingo region of Zimbabwe. According to the African mining firm, it has already begun small bulk sampling procedures to verify if the early signs of there being diamond kimberlites in the Masvingo region are true. Continue reading »

Koh-i-noor diamond (Photo credit: Wikipedia)

Rio Tinto, the Australian diamond mining giant is all set to begin work towards developing the second ever Indian diamond mine in the next few days. The diamond mine that Rio Tinto is looking to develop will not only be the second ever Indian diamond mine but also the first ever diamond mine in India that is developed by a private firm. Continue reading »

Coat of arms of Zimbabwe. Deutsch: Staatswappen von Simbabwe. (Photo credit: Wikipedia)

A coalition of human rights groups that were allowed to visit the extremely controversial Marange Diamond Fields in Zimbabwe have come out and announced that their visit was limited by the authorities to the ‘technical’ aspects of the production of diamonds from the fields and that they were not allowed to assess the human rights aspect of the production or the financial side. Continue reading »

The global diamond giant De Beers has reported a significant jump in its profit for the year of 2011. According to the largest rough diamonds supplier in the world’s report, there was a 72 percent jump in its profits in the previous calendar year i.e. 2011. Continue reading »