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ALROSA reports financial results for Q3 and 9M 2017

The company’s revenue in 9M 2017 amounted to RUB 214.5 bn, EBITDA to RUB 100.0 bn, net profit to RUB 61.9 bn, and free cash flow to RUB 61.8 bn.

Yesterday

President of ALROSA ordered disciplinary sanctions following the accident at Mir

Sergey Ivanov, President of ALROSA signed an order on disciplinary sanctions against the company's executives who violated the requirements of industrial safety, which contributed to the accident at the Mir mine on August 4, 2017.

Yesterday

India's polished diamond exports down 23% in October

Exports of cut and polished diamonds from India during October reduced from $ 2.52 bn last year to $ 1.93 bn this year, a decline year-on-year of 23.33%, according to provisional data released by The Gem & Jewellery Export Promotion Council (GJEPC)...

Yesterday

Lucapa’s Lulo on track to break production target

Lucapa Diamond, which has a 40 percent stake in the Lulo diamond project in Angola, said it is on track to break its record 2017 annual production target.

Yesterday

H.H. King Philippe graces roundtable on sustainability in Mumbai

H.H. King Philippe of Belgium who was in India on an official visit, graced a Round Table on “Best Practices from the Diamond Business to Foster Socio-Economic Development” organized in Mumbai jointly by The Gem & Jewellery Export Promotion Council (GJEPC)...

Yesterday

Mercury Polished Diamond Prices: Price Stability Maintained

Yesterday

(ehudlaniado.com) - Polished diamond prices remained flat overall in October for the third consecutive month, according to the Mercury Diamond Global Tracker™ (MDGT™) , an index of polished diamond transaction prices. The steady prices, following an extended period of price declines, are a welcome sign of stability for the global diamond industry. The MDGT™ stood at 114.79 in October, a negligible decline from its 114.80 during September. Polished diamond prices peaked in May 2014, when the index reached 142.3, and have been steadily declining since July 2014, a 40-month stretch. On a year-over-year basis, overall polished diamond prices have been declining for 35 months. The last time the index showed an upward year-over-year trend was in November 2014. During the 40-month period of declining polished diamond prices, the MDGT™ index fell 19.3%. MDGT™ is based on the transaction prices of diamonds weighing 1-30 carats, collected and used for the Mercury Diamond™ Price List. It provides wholesale polished diamond prices based on transaction prices in the wholesale market, and is aimed at serving the wholesale market first and foremost. In October, polished diamond prices declined by 2.7% year-over-year, the same as in September. Although we have seen stability in prices in the last three months, the year-over-year rate of decline shows just how deeply prices fell during the past year before stabilizing.

Rough Trade Cautious at $455M De Beers Sale

16 november 2017

(diamonds.net) - Dealers reported a difficult but stable rough market as De Beers’ November sight closed with a value of $455 million — 4% lower than the same period a year ago.

Global personal luxury goods market returns to healthy growth, reaching a fresh high of €262 billion in 2017

16 november 2017

(bain.com) - Luxury is back in fashion. The overall luxury market – encompassing both goods and luxury experiences – grew by 5 percent to an estimated €1.2 trillion globally in 2017. Sales of luxury cars continued to drive the market, growing at 6 percent to reach €489 billion in total. These are the top-line findings from the 16th edition of the "Bain & Company Luxury Study," released today in Milan in collaboration with Fondazione Altagamma, the Italian luxury goods manufacturers' industry foundation.

Diamond Portraits - Cecil Rhodes

15 november 2017

(ehudlaniado.com) - The diamond industry has a storied history. It has been built by influential people, both past and present, who have left their indelible marks on a business that captivates consumers around the world. Over the next several weeks, I want to highlight some of the achievements of these people, people from all walks of life, who have helped to lay a foundation for all of us. Perhaps we might learn something from their accomplishments that might help others to shape the industry moving forward. For an introduction to our list of famous people in diamonds, I will start with Cecil Rhodes, the founding chairman of De Beers.

The best diamonds in the world are buried at the bottom of the Atlantic Ocean

14 november 2017

(qz.com) - The best diamonds in the world come from the sea. Swept up from riverbeds by the mighty Orange River in southern Africa back when dinosaurs still roamed the earth, their bumpy journey to the Atlantic polished them and broke up any stones with flaws, ensuring only the strongest and best survived. Those diamonds landed off the coast of what is now Namibia, creating the world’s richest marine-diamond deposit. The country’s territorial waters are now estimated to hold 80 million carats, and the world’s biggest diamond miner, De Beers, has quietly built up an armada off the coast to vacuum up those precious gems.

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