Scientists produce diamonds in minutes at room temperature

President Vladimir Putin, who attended the opening ceremony, said the new operation reinforced the state-controlled firm's position as a diamond world leader.

If a community or government wants a bigger share of the pie, they may need to be willing to take on more of the risk.

Alrosa has joined rival De Beers' Tracr industry blockchain traceability platform, aimed at clearing the supply chain of imposters and conflict diamonds.

The Africa-focused miner sold a 68-carats white diamond for just under $1 million, which became its third most valuable stone to date.

Villagers living around the Marange diamond fields would benefit.

Rules threaten the diamond and uranium producer's ability to attract investment.

The preliminary economic assessment of the mine estimates that 66 million carats of diamonds could be recovered over a 38-year project life.

First commercial diamonds from the company's 70%-owned Mothae mine expected in early November.

De Beers acquired Peregrine and all its Canadian projects in a friendly deal in September for 24 cents a share or $107 million.