Alrosa points to weak demand for 21% revenue drop

The Singapore Diamond Investment Exchange (SDIX) has launched a new investment-grade, standardized diamond product to rival gold as a safe-haven asset.

The company says that labour disruptions in South Africa and the confiscation of a parcel of diamonds by the Tanzanian government are to blame.

The 709-carat rock is the second-largest ever found in the West African nation.

It's a 134 carat gem-quality light yellow diamond recovered at the company's its Liqhobong mine.

Sampling work at Ontevreden, part of the Vutomi joint venture, seems to prove the presence of high-grade kimberlite pipes.

Company reached wage agreement with the main union at two of its mines in South Africa. Workers will return to work on Friday.

Discovered in February last year in eastern Angola, the 404.20-carat rough diamond was also the largest found so far in the southern African country.

Scientists say that under the peculiar conditions present deep in the Earth's mantle, iron carbonates can play a role in forming diamonds.

Stock closed 12.2% higher at 64.80p, after it had fallen on Tuesday to its lowest since late 2015.