News of the day

Lucapa Announces 68-Ct Diamond Find From Trial Mining Operation at Lulo Mine

The Lucapa Diamond Company has announced yet another discovery of an exceptional diamond.

This time, it is a 68.1 carat Type IIa D color diamond from a trial mining exercise at a new area at its Lulo operation in Angola.

The gem was one of eight special diamonds recovered during a trial mining operation at the E46 alluvial terraces, around 10 km upstream from the alluvial Mining Block 8 and 6, from which Lucapa has been producing large diamonds, the mining firm said.

Blue Nile Opening Fourth 'Webroom' in Oregon

Online diamond and jewelry retailer Blue Nile is opening another bricks-and-mortar location as it seeks to unite Internet sales with a brick-and-mortar presence.

The new 'Webroom' will be opened this summer at the Washington Square Mall in Portland, Oregon.

Earlier this month, Blue Nile announced its third such online/offline hybrid retail model would be opened near Washington D.C. following two such stores being opened in New York.

Stop Defending Diamonds and go on the Offence, Says Diamantaire

Melvin Moss, President of Regal Imports, says there is no justification for the rough supply to the market in the first quarter of 2016 of around $3 billion as there is no huge demand at the retail level for polished goods as seen by the "lackluster diamond sales in Hong Kong and the disappointing results at the BaselWorld Fair".

WFDB Expresses Shock at Terror Attacks in Brussels

The World Federation of Diamond Bourses (WFDB) has expressed its horror at the bomb attacks carried out in Brussels, and sends its best wishes to the families of the people killed in the bombings and a speedy recovery for those injured.

Swiss Watch Exports Down For Eighth Straight Month in February

Watch exports from Switzerland were down for the eighth consecutive month last month, with a value of $1.75 billion, a decrease of 3.3% on the year, the Federation of the Swiss Watch Industry said in a statement.

The export figures were greatly impacted by developments in the Hong Kong market, the Federation said.

DiaCam360 Launches New Software

After three months of development, DiaCam360 has released a software upgrade, putting its customers at the forefront of diamond imaging technology.

Indian Jewelers Call Off Strike, Agree on Panel to Look Into Tax Proposal

India's gold and jewelry markets began re-opening on Monday after traders ended an almost three-week strike.

The industrial action caused huge revenue losses for businesses, while the government lost taxes of hundreds of millions of dollars.

The strike aimed to lead the government to repeal a 1% excise duty on gold and diamond jewelry that was proposed in the 2016-17 budget.

Lucapa Looking For Source of Large Angolan Diamonds

The Lucapa Diamond Company said it will allocate a portion of the money raised from the large diamonds it has found in alluvial mining in Angola to finance the hunt for the kimberlite pipes from which the gems have originated, the firm said.

The diamond explorer is using its part of the $16.7 million from the sale of a 404-carat diamond sold in February and found the month before to find the source of the discoveries.

Amnesty International: 'Angola Must Give Journalist Free Trial'

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Amnesty International in Portugal has is calling on Angola to ensure a free trial for Angolan activist and journalist Rafael Marques.

The local branch of Amnesty International gave in a petition to the Angolan embassy in Lisbon with the signatures of more than 38,000 people calling on Angola to give “all the guarantees of a fair trial”.

Jewelers Strike Estimated to be Costing India $150 Million a Day in Lost Revenues

The All India Gems & Jewellery Trade Federation told Bloomberg that Indian jewelers are believed to be losing around 150 million a day in income from a shutdown in protest at a proposed 1% tax which has entered its second week.  

The strike organizers says that stores will remain shuttered until the government assures jewelers that a 1% duty proposal is withdrawn, said Bachhraj Bamalwa, a director at the federation, which represents 300,000 jewelers and bullion dealers across the country.

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