Diamond prices sliding – report

"Blue Moon" is expected to fetch up to $55 million when it goes under Sotheby's hammer on Nov. 11, in Geneva.

Shares in the Africa-focused diamond miner climbed almost 6% after it revealed the Mothae kimberlite project in Lesotho may be more profitable than previously assumed.

The company hopes to begin mining from the Jay pit before Ekati's existing reserves run out in 2020, and so avoid laying off workers.

The company, a joint venture between Botswana and De Beers, said the measure follows a downturn in the global diamond market.

A few legendary influencers are making huge bets right now on commodities, an area that’s faced—and continues to face—some pretty strong headwinds.

The London-listed precious stones miner plans to buy two emerald projects in Colombia.

Since the recovery of the first large diamond from the Karowe mine in 2013, Lucara has found 216 gems, which it has sold for more than $250,000 each.

CHART: The commodity slump has slashed major miners' market valuations to 60–88% below 2011 highs.

The finding is more than double the age of the previous oldest known occurrence of reidite, believed to have formed about 450 million years ago.