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One of the most important chapters in the legendary history of De Beers is about to come to an end as Anglo American is on the verge of acquiring the 40 percent stake of the Oppenheimer family in the company. De Beers, as most diamond industry followers and diamond fans know, is a company that has dominated the diamond market of the world for the better part of the last century. The separation of the diamonds giant, De Beers and the Oppenheimer family is a big deal simply because the family has had a vice like grip on it for the last 80 years. Continue reading »

Zimbabwe is all set to step out of the dark ages because of a simple decision taken by the Kimberley Process in its last plenary session which was held in the Republic of Congo. The decision taken by the Kimberley Process was to allow Zimbabwe, a country which many people believe to have the largest diamond reserves in the world, export diamonds from its Marange diamond fields. The decision is being called historic by many within the country and outside it, as it has the potential to not only have a positive impact on the economy of the country of Zimbabwe but also the diamond industry of the whole world. Continue reading »

The first half of the year was very good to the diamond industry. Over the first six months, diamond prices for both raw and polished types went up substantially even though the economies of the world were in flux. The third quarter was not so kind with an overall drop of 8.6 percent for polished diamonds, much lower prices overall.

Smaller and larger diamonds fared better, but the 8.6 percent drop was seen on 1 carat diamonds, the most common size used in engagement rings. Half-carat diamonds dropped 7.5 percent and 3 carat diamond only dropped 5.8 percent, but the message is clear, demand for diamonds is dropping. Continue reading »

Petra is one of the largest independent diamond mining groups and supplies the world with rough diamonds. Their recent purchase of the Finsch mine in South Africa for $132 million will increase their output and overall visibility in the diamond industry. Diamond-mining company diversification is good for the region as well, so this purchase can only help that cause.

The Finsch mine was originally established in 1961 by the DeBeers diamond company. They have built the mine up well over the years and have amassed a great workforce and created a strong infrastructure. The sale will give DeBeers extra capital to expand their other operations in the region and will be used for the commercial side as well to increase their sales and strengthen their business. Continue reading »

We need to maintain a strong body of ethics in the diamond and jewelry world.  After all, the controversy surrounding blood diamonds have given the diamond industry a bad rap.  Because of this, rules and regulations have been implemented to keep things on the right track.

The Responsible Jewellery Council is a not-for-profit company that certifies jewelry companies across the globe to ensure that companies conduct business ethically and are transparent in their practices. They have recently certified AMC NV, a Belgian company, headquartered in Antwerp. Continue reading »

The diamond mining industry has been under the microscope for a very long time as violence has been linked to the diamond in general and while things have been better, there have been recent reports of violations of the Kimberly process. The Kimberly Process assures that diamonds sold are conflict-free and that now violence has been involved with a particular stone. The Kimberly process has worked for many countries and the violence surrounding the diamond trade has been minimized through it. Often, the Kimberly Process will shut down production at a mine until after it has been investigated, but other times, they wait until the investigation is finished to shut down a mine. This is an important detail as some conflict diamonds have made it through, although it is very rare. The Kimberly Process cannot be at all diamond mines all the time, so there are cases where they find out about the problems from the media. The media may report something and the Kimberly Process must use that information to determine whether or not the site should be investigated. A recent report done on Panorama has prompted the Kimberly Process to investigate supposed torture camps in Zimbabwe. Continue reading »

The overall consensus is that many who had been able to afford luxury items at one time are tightening their belts and choosing to save their money. In most cases, the people who are saving are simply not in the position to afford luxury items and are choosing the many alternatives out there to save some money. On the jewelry front, they are choosing less-expensive palladium and silver for their jewelry needs as well as other precious stones that cost less than diamonds. The prices of diamonds have been going up steadily, but the trend seems to be taking a slight detour as recent numbers are showing a slight decline in diamond prices. This is to be expected, just as the housing prices eventually came down in 2007, the diamond prices needed to make a slight correction as it has seemed too good to be true. How could a diamond continue to go up even when many of the world’s economies are so bad? There has to be some point where the price goes down or holds steady, and that time seems to be now. Continue reading »

The jewelry retail business has been one of the few that have been successful in the past few months as the prices for diamonds and gold have been going up. There is always a flip side to the story as when the companies buy these items to resell; they also have to pay more than they have ever before. Luckily for them, overall demand has been high from jewelry collectors, the general public and investors. The money that they can make may be enticing, but there are risks as there are with any other type of retail business. If the customers stop coming, their overhead costs can overwhelm them right into bankruptcy. It is essential to allocate some money for the marketing side of retail and continuous advertising is the only reliable way to get people through the door, whether it is a real door or simply a web portal. Online businesses need to advertise as well, but their overhead costs are often less, so they can pass those lower costs to customers in a less intrusive manner. Online reselling is one of the best ways to make money in a down economy. Continue reading »

Finding a diamond that you like is not always the easiest task, but there are ways to increase the power you have in your search. Online loose diamond retailers often have thousands of diamonds available from very small pieces to some that are so big, they are simply unattainable. It is not easy to keep track of the diamonds that you find that will suit your needs. You may be looking for a particular cut or size and you must make note of the diamonds that you find that suit you. There is one website that helps you do this and it is called Verichannel. They are like the Google of the loose diamond world and allow you to search their database in one shot to find the diamond that you have been looking for in a few easy steps. What sets Verichannel apart from other diamond sites is that you only have to go to their site to find what you need.  They started to include search for new diamonds including price this year and have already hit 100,000 diamonds, which is great feat considering the shirt time frame for the site. Continue reading »

When tragedy falls on a neighborhood, the residents ban together to try their best to make things rights, comforting each other and letting the victims know that they are there for them. There are many ways to do this from forming a support group to simply comforting those who have been affected by the tragedy. The business world is not always like this, but there are instances that have businesses coming together to help one another. Every business owner knows how difficult it can be to face tragedy and come through it with flying colors, a stronger unit is often formed and bonds become lifelong. Tragedy is something that can bond people and in some cases it can lead to good as most want to make a bad memory a good one in the end. The recent events in Mumbai are turning out to be positive as some of the diamonds that were found in the streets may be auctioned off to help those who had been injured in the blasts. This would turn a tragic event into a something that shows that people really do care about each and only want them to be respected in the end. Continue reading »