Page 4 - Diamonds

NMDC conducts e-auction of 8,337 carats rough diamonds from Panna mines

State-owned NMDC on Thursday said it has conducted an e-auction of 8,337 carats rough diamonds produced at its Panna diamond mines in Madhya Pradesh.

'The Enigma': Mystery black diamond up for auction; crypto accepted

Also known as a carbonado diamond, it is possible the black diamond came from outer space

Out of this world: 555.55-carat black diamond lands in Dubai

The rare gem was shown off on Monday to journalists as part of a tour in Dubai and Los Angeles

A silver lining in Surat's diamond industry amid production crisis

Lower output has let the industry hold on to bargaining power over polished gems

MP: 139 diamonds worth over Rs 1 crore to be auctioned in Panna

A total of 139 rough diamonds with an estimated value of Rs 1.06 crore will be auctioned in Madhya Pradesh's Panna district from September 21, an official said on Sunday. The diamonds, collectively weighing 156.46 carats, were quarried from mines in the district, Panna's diamond officer Ravi Patel told reporters. These precious stones also include a 14.09 carat diamond, which was found by a labourer in Februrary this year and remained unsold in the previous auction, he said. It is expected to be the main attraction and may fetch about Rs 70 lakh, officials said, adding that it will be the biggest gem to be put up for the auction this time. Traders from Gujarat, Delhi, Mumbai, Hyderabad and other parts of the country are likely to participate in the auction, Patel said. According to officials, the proceeds from the auction of the raw diamonds would be given to the respective miners after deduction of government royalty and taxes. In February, a labourer and his partners found the

A booming market for artificial diamonds yet no match for the real thing

Don't expect the synthetic stones to surpass natural ones anytime soon because the world's biggest miners of diamonds aren't looking to get into man-made diamonds

De Beers implements biggest diamonds price increase of 5% in years

The diamond industry has surprised many by the speed of its recovery after being brought to a complete standstill in the first half of last year

Barred from diamond bids, jewellery exporters seek equalisation levy relief

The request features in GJEPC's representation made to finance ministry for union budget 2021-22

Dueling over diamonds: LVMH says Tiffany not worth buyout as spat gets ugly

It's an ugly spat for such a glamorous industry: French luxury powerhouse LVMH and US jeweler Tiffany & Co. are blaming each other for the collapse of what would have been the sector's biggest-ever buyout deal. Paris-based LVMH had announced Wednesday it was abandoning the USD 14.5 billion takeover plan because the French government had requested a delay to assess the impact of proposed U.S. tariffs. Tiffany sued to enforce the deal, and on Thursday LVMH lashed back. The Paris-based conglomerate whose holdings including Christian Dior, Louis Vuitton, Moet & Chandon, Bulgari and Sephora issued a statement threatening legal action of its own, accusing Tiffany of mismanaging the financial crisis prompted by virus lockdowns. LVMH criticised Tiffany for issuing dividends even as it was losing money, and Tiffany's performance in the first half of this year was significantly worse than that of other LVMH brands during the period. "LVMH confirms that the conditions are not met" to ..

Cheaper diamonds bring life into the hidden world of gem trading

After refusing to budge on diamond prices during much of the pandemic, De Beers and Alrosa PJSC cut prices by 10%

De Beers likely to cut jobs on Covid-19 hit, outlines plans for overhaul

Diamond mining giant De Beers is likely to have to cut jobs, its chief executive said on Thursday, as it outlined plans for an overhaul of its business after the coronavirus hit jewellery demand.

Surat diamond polishing units shut till July 13; trading mkts till July 9

In another notification, Pani said a textile making unit or textile market will be shut for seven days if one or more cases emerge from them

Covid-19 scare: Surat diamond hub calls for voluntary closure for a week

Most of the diamond polishing units are largely situated in and around the areas of Katargam and Varachha in Surat which have seen a spike in Covid cases

Surat's diamond and textile units to remain open amid coronavirus, slowdown

Industry stakeholders say closure would not only impact the health of the two sectors but would also lead to massive unemployment

Jewellery exporters contact mines to directly supply rough diamonds to SMEs

Leading global diamond miner De Beers, which contributes nearly 20% of global rough diamond supply, normally, allocates rough diamonds to pre-selected large processors across the world

Coronavirus impact: Surat diamond hub stares at Rs 8,000 crore loss

Hong Kong has one of the world's busiest airports and is a major transit point for China

Budget 2020: Diamond exporters want relief as export slump continues

Data from the Gem and Jewellery Export Promotion Council shows a 1.9 per cent fall in the country's gross shipment last month, from a year before, to $2,435.9 million (Rs 17,300 crore).That brings the overall fall in the current financial year's first nine months to 5.3 per cent in the segment, to $27.7 billion (nearly Rs 2 trillion). The sector says this will be another dismal year for export. Colin Shah, vice-chairman at the Council, says they hope the central government is noting this fall in a sector which generates and sustains a large number of jobs. "With the Union Budget round the corner, we hope the government will give us some respite on our long-standing requests for duty reduction on gold, platinum and diamonds. Also, ease of doing business on Customs issues, resolution on GST (goods and servis tax) input credit and a progressive SEZ (Special Economic Zones) policy."Apart from a working capital crunch over the past two years, from a sharp cutback in bank lending, the ...

Diamond exports fall sharply on Customs' approach; changing preferences

Polished diamonds and coloured gemstones were big underperformers in this basket. But gold and silver jewellery as well as synthetic gemstones have shown positive trends

Bharat Diamond Bourse may allow trade in lab-grown stones in three months

Bourse has to ensure lab-grown and natural diamonds don't mix and a proper process of segregating the two varieites using firewalls is established

India-mined rough diamonds garner Rs 7.38 crore worth tenders in Surat

In a first since 1998, the rough diamonds mined in India were up for display for auction by state-run NMDC in association with GJEPC