Zimbabwe wants to merge all diamond mining firms in the country, including the local unit of Rio Tinto, into one company in which the state will own just over half of the shares, the country’s minister of mines said in parliament.
The government announced previously that it aims to merge some of the diamond companies operating in the Marange area, in which it already owns 50 percent of the shares, to improve transparency.
Russian diamond mining giant Alrosa has recovered a 78.02-carat diamond from its Mir kimberlite pipe.
The miner, which produces a quarter of global output, said in a statement that the diamond measures 28.5mm by 28.4mm by 24.2mm.
The stone has some small inclusions, and is transparent with yellowish and greenish hues, the firm said.
Andrey Zharkov, the newly appointed President of the Russian mining company ALROSA, the world's largest diamond producer by volume, confirmed that he will be heading an ALROSA delegation to attend the 2015 Presidents' Meeting in Tel Aviv next week.
Russia's Kommersant daily newspaper reported that four large rough diamonds disappeared while being held at the Gokhran, the State Precious Metals and Gems Repository, for sorting.
The precious stones were part of a bigger batch of diamonds submitted to Gokhran by the Severalmaz mining company that extracts diamonds at a large mine in the northern Arkhangelsk region.
India's exports of cut and polished diamonds during the second half of fiscal year 2016 fell by 13.8% to $10.4 billion from $12.1 billion last year.
Meanwhile, imports of rough plunged by 26% to $6.95 billion from $9.4 billion last year, indicating the decision by Indian manufacturers to slash production due to the high price of rough goods.
Reflecting the serious slowdown in the global trade for diamonds, India’s polished exports were down 18.34% and rough imports down 42.9% in July 2015 when compared to the corresponding figures of a year earlier, according to information released by The Gem & Jewellery Export Promotion Council (GJEPC).
Botswana will employ some of its $8.5 billion in foreign exchange reserves to stimulate its economy after a fall in diamond prices hit growth in the world's second-biggest producer, President Ian Khama said.
Tzoffey's 1818, the Israeli-French auction house, will be tendering a rough diamond of almost 100 carats during its upcoming rough diamond tender that will be held August 30- September 3, at the company's new premises in the lobby of the Diamond Tower of the Israel Diamond Exchange complex in Ramat Gan.