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De Beers Reports 12% Rise In Output To 16 Million Carats In First Half

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De Beers said that output in the first half of this year rose 12 percent on the same period last year to 16 million carats.

The miner said that the rise was mostly a result of improvements at the Debswana operations in Botswana and De Beers Consolidated Mines in South Africa.

De Beers guidance for output in 2014 was increased to 31-32 million carats from 30-32 million carats previously.

Overall, sales rose by 15 percent to $3.8 billion, of which rough diamond sales were also 15 percent higher at $3.5 billion.

De Beers Awards Contract For Development Of Venetia Underground Mine

South Africa’s Murray & Roberts Cementation has won a $245 million (2.6 billion rand) contract to develop an underground mine beneath De Beers’ open pit Venetia mine in Limpopo, IDEX Online reported.

The contract involves the development of the entire underground mine and will include the sinking, equipping and commissioning of a decline shaft and two vertical shafts, Murray & Roberts said.

Alrosa Reports 7% Drop In Production In First Half

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Russian diamond miner Alrosa posted a 7 percent drop on the year in diamond production in the first half of 2014 to 15.9 million carats.

The firm said the output fall was largely due to planned annual maintenance operations at Processing Plants No. 8 of Aikhal Division and No.12 of Udachny Division.

The miner said production rose by 2.3 times in H1 2014 at the Severalmaz mine following the launch of the second part of the site’s processing plant and “confirms the previously announced mining guidance of 36 million carats for Alrosa in 2014”.

Botswana Diamonds To Receive Cash For Interest In DRC Concession

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Botswana Diamonds will receive approximately $340,000 from the liquidation of its interest in Bugeco, a private Belgian company which held an interest in an exploration concession in the Democratic Republic of Congo (DRC).

The funds will be used to help finance the firm’s exploration program in the Orapa area of Botswana in a joint venture with its partner Alrosa, the Russian diamond company.

Botswana Diamonds reported last week that it received five new prospecting licenses (PLs) in the Orapa region.

Rio Tinto Diamonds To Give Interactive Mine Tour With New Technology

Rio Tinto Diamonds is using innovative Oculus Rift technology to bring the mine to the marketplace with an interactive virtual journey into its Diavik diamond mine in the remote Northwest Territories of Canada.

The Oculus Rift will debut at the Rio Tinto booth at the JCK Luxury Show in Las Vegas on May 27.

De Beers Sight Value Estimate: $560 Million

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The De Beers May sight had an estimated value of $560 million as the rough diamond market remains steady, according to market sources.

Sightholders said that prices of some boxes of goods were adjusted somewhat; but  that prices and assortments were for the most part stable.

Panama Diamond Exchange President Erez Akerman Visiting Israel, India

Panama Diamond Exchange President Erez Akerman is visiting Israel and India over the next two weeks to meet members of the diamond trades to discuss  opportunities available in the Panama Gem & Jewelry Center, Latin America's first dedicated diamond, colored gemstone and jewelry trading complex, which currently is under construction in Panama City.

He will be holding meetings in the Ramat Gan/Tel Aviv area from May 11 to 16, and in the Mumbai area from May 19 to 23. 

De Beers To Increase Rough Diamond Prices By 5% Every Year

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De Beers will increase the prices of its rough goods by 5 percent per annum, confident that global demand will continue to rise.

The rise in prices will enable the miner to meet the 15 percent return on capital target set by parent company Anglo American Plc, which owns 85 percent of the diamond miner.

“We know the long-term trend, we know demand is going to be bigger than supply,” De Beers CEO Philippe Mellier told Bloomberg News. “One of the objectives is more stable prices and to drive volatility out.”

Indian Officials Raid Mumbai Diamond Bourse Offices

(Global Diamond Portal News) - Officers from India's Income Tax Department have raided the offices of diamond companies at the Bharat Diamond Bourse (BDB) at Mumbai's Bandra Kurla Complex (BKC) in a major operation, according to a report.

The officers entered the offices of around 20 diamond companies located at BDB, according to The Times of India.

The operation was extended to Mahidharpura diamond market in Surat as some of the Mumbai diamond firms have their offices and units there, the report said.

India Exports of Gems And Jewelry In Fiscal 2013-14 Amount To $34.8B

Indian gem and jewelry exports amounted to $34.8 billion in the 2013-14 fiscal year, a decline of 11 percent from the previous year, according to a statement from the Gem & Jewellery Export Promotion Council (GJEPC).

There was an increase of 12.65 percent in exports of cut and polished diamonds totaling $19.6 billion, and an increase of 12.0 percent in imports of rough diamonds to $16.7 billion, indicating an increase in cutting, polishing and other manufacturing activities in India, the GJEPC reported.

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