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There’s been a lot of talk about how current sanctions language allows for Russian diamonds “substantially transformed” (i.e., cut and polished) elsewhere to enter the United States—which, some say, makes current regulations “worthless.”
Prices of fancy-color diamonds grew 1% in the first quarter compared with the previous three months amid strong market for pinks, according to the Fancy Color Research Foundation (FCRF).
The current sanctions on Russian diamonds have created a “murky situation” for the industry, Jewelers Vigilance Committee (JVC) president and CEO Tiffany Stevens and deputy general counsel Sara Yood said during an April 26 seminar at the American Gem Society Conclave in Oklahoma City.
At [the sight of May 2nd’s week] in Botswana, De Beers offered all its sightholders diamonds whose origins can be tracked through the pipeline, through its blockchain-based Tracr platform.
Diamond sanctions are beginning to bite in India, as US buyers demand guarantees that polished stones were not mined in Russia, according to news reports.
Press release – Moments ago at Sotheby’s Hong Kong, a significant new benchmark for the diamond market was set, as the extraordinary ‘De Beers Blue’ – a 15.10 step-cut Fancy Vivid Blue diamond, the largest of its kind ever to appear at auction – sold for HK$451 million / US$57.5 million – among the highest […]
Burgundy Diamond Mines has discovered a “significant” area bearing fancy-color orange and yellow diamonds at its Naujaat diamond project in Canada.
Petra Diamonds is exploring options for exiting its Koffiefontein mine in South Africa, noting that another company could extend the site’s operations beyond the scheduled closure date of 2025.
The UK has imposed heavy tariffs on Russian diamonds as it attempts to up the pressure on President Vladimir Putin following the country’s invasion of Ukraine.
Strength in rough diamond sales continues, but the war in Ukraine and COVID lockdowns in China have companies on alert.
The Fuchsia Rose diamond surpassed its presale estimate at Christie’s New York on Wednesday [April13], achieving just under $7 million in the Magnificent Jewels auction.
Press release – De Beers Group [announced April 13] the value of rough diamond sales (Global Sightholder Sales and Auctions) for the third sales cycle of 2022.
