Russia’s comeback in Africa favours profit over long-term influence — analyst

Patrick Evans will become the new CEO once a deal to purchase the Canadian diamond company closes later this year

The crystal had a 30-centimetre diameter and was a city icon

Chalkstone was born out of counter-insurgency tactics used by troops in Afghanistan, but its unique methodology is now being used by miners, which can map-out power structures and counter the potentially crippling risk of strikes and political opposition.

The company that unearthed the world's second-largest diamond but has so far failed to sell it, is mulling a partnership to sell the giant stone if a buyers is not found within the next six to eight weeks.

The Canadian diamond miner now expects to produce between 265,000 carats and 285,000 carats, compared with the previously targeted 290,000-310,000 carats.

A total of 102 miners have been brought to the surface and another 33 miners have been located in the mine in Yakutia in eastern Siberia and are being evacuated.

De Beers says it sets the bar very high for its technology and expects that each instrument it releases is tested to the highest possible standards, while also being fast, efficient and affordable.

The company will return a total of $3 billion to shareholders: $2 billion on the dividend side and $1 billion of share buybacks.

Here we are little more than half way through 2017, and industry fundamentals are not necessarily negative, but signals are mixed with a subdued tone.