In the spotlight
Israeli billionaire Dan Gertler has been placed on the US Treasury's Office of Foreign Assets Control (OFAC) sanctioned individuals list due to his business ties with President Joseph Kabila of the Democratic Republic of Congo (DRC).
De Beers and the Antwerp World Diamond Centre (AWDC) are holding talks about potential cooperationin De Beers’ recently announced blockchain platform.
A new initiative to encourage the involvement of younger diamantaires in the industry is moving ahead, with its first major networking event to take place on September 15 during the Hong Kong Gems and Jewellery Fair.
Rio Tinto’s 2015 Pink Diamonds Tender collection of 65 rare pink and red diamonds from its Argyle diamond mine produced excellent results "reflecting global demand and sustained price growth," the firm said.
Achieving the highest average price per carat since the tender began in 1984, the tender continued its double-digit price growth trajectory.
The World Federation of Diamond Bourses' (WFDB) Executive Committee meeting, which will take place next week in Idar-Oberstein, Germany, will enable the organization to hold discussions on the global diamond industry and a new strategy going forward.
In 2014, the Israeli diamond industry maintained its export achievements of 2013, with a slight rise of $160 million in total polished and rough exports, according to figures published by the Ministry of Economy’s Diamond Controller Shmuel Mordechai.
Israel’s total combined exports of polished and rough diamonds stood at $9.324 billion in 2014, compared to $9.166 billion in 2013.
At a meeting at the Israel Diamond Exchange (IDE), bourse president Shmuel Schnitzer and IDE management discussed the creation of a code of ethics for exchange members to operate by with Israel Prize winner Professor Asa Kasher and other Israeli experts.
Petra Diamonds Ltd reported the discovery of a 122.52-carat blue diamond at its Cullinan mine in South Africa.
"The stone will require further analysis in order to assess its potential value and upon completion of this process, Petra will be in a position to evaluate its optimal route to market.
"The diamond will therefore not be sold before the end of the company's current financial year (30 June 2014).