The elite De Beers diamond buyers club may get even smaller
The world’s biggest producer is wrestling with the way it sells diamonds after a disastrous year for the companies that cut, polish and trade the world’s gems.
Much of the world’s uranium comes from Saskatchewan, while Alberta is known for its bitumen and various forms of coal. But the West is earning a reputation as a major source of gems and precious metals, especially those high in demand in Asia-Pacific markets.
Tungsten, tin, tantalum and gold are now also being illegally extracted and traded at sites under the control of armed groups in countries including Myanmar and Colombia.
The stock shot up 13% in London Wednesday after Firestone announced it had unearthed an 110-carat yellow diamond, it’s biggest find so far at its Liqhobong mine.