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Last year was an excellent year for us,” said the outgoing De Beers chairman Nicky Oppenheimer at a party with clients. “If you didn’t make money, then you are obviously in the wrong business,” he semi-quipped before a stunned audience.
A small number of investment professionals around the world are competing behind the scenes to turn the gem into a commodity that would be available to investors in the way that gold has been traded through funds on exchanges.
The diamond industry ended the first quarter of 2012 with a sense of relief. Trading has been steady but cautious and prices in March were relatively firm. While business has not been booming, it could have been worse. The preceding third and fourth quarter of 2011 certainly were.
April 2012 marks the beginning of a new era for Rubel & Ménasché. Welcome to www.rubel-menasche.com, the Parisian diamond specialist’s brand new website, which is designed not only to introduce the company and reflect its image, but also as a source of information for industry professionals.
Winter is over and spring is in full bloom. It’s a time of renewed growth, fresh beginnings and many changes. In London last week, DTC held the last Sight of the previous contract period. A new Sightholder roster is out, and with it a change in venue is around the corner. Most of the Sightholders […]
Is the diamond mining sector disintegrating? As the BHP Billiton diamond division goes through another round of bidding, Rio Tinto has announced that it too may offload its diamond division. The two are the second- and third-largest diamond miners, and the possible ownership change raises many questions, and concerns, in the diamond industry. First, how will […]
De Beers Raises Prices Slightly… De Beers raised prices slightly at the Diamond Trading Company (DTC) sight this week as the mining company has curbed its rough supply in the first quarter of 2012. The March sight had an estimated value of $520 million with prices up an average 2 percent to 3 percent.
Kimberley Process (KP) certificates supposedly issued by Cameroon are in the market, though Cameroon is not a KP Participant and therefore cannot issue KP certificates.
I’ve become used to seeing inaccuracies about the diamond industry in articles in the general press. While someone who writes about a wide range of topics might misunderstand a fact or two that is not what you expect from analysts who opine on the merits of a Wall Street product, for a living, for example. […]
The transfer of De Beers Diamond Trading Company (DTC) from London to Gaborone is well under way and couldn’t come sooner for Botswana. The move marks exciting times for the southern African nation and is set to be a catalyst for much-needed economic diversification and, hopefully, significant job creation.
The calls for greater transparency by the Kimberley Process were heard. A wealth of decisions, background information, data about the working groups and more are now available on the KP website.
A report just published by the U.S. State Department’s Bureau for International Narcotics and Law Enforcement Affairs states: “Existing safeguards do not address the issue of the laundering of diamonds and value transfer through Lebanon directly or by Lebanese buying agents in Africa.” The International Narcotics Control Strategy Report Volume II Money Laundering and Financial Crimes report states that “Lebanon faces significant […]