ALROSA extracts rare fancy intense yellow diamond

The World Diamond Council (WDC) has named Patricia Syvrud, founder and president of Joia Consulting, LLC, as its first Executive Director, effective October 31, 2014.

The move is seen by analysts as an attempt to strengthen the firm’s image.

"In practical terms, this means that the WDM's first pilot programme for accredited retail members, i.e. Authorized Diamond Dealers (ADDs) will begin in Turkey, one of the most exciting, and rapidly growing luxury product consumer markets..

He has also insured 280 employees who have been with the company for more than a decade to the tune of $160,000 each.

The miner's total diamond production for the quarter reached 9.7 million carats, slightly down from 9.9 million carats in the same period last year.

The country is fine-tuning details of a new mining law that will make it easier for foreigners to tap the nation’s riches.

The former Xstrata boss' new venture, X2 Resources, is "currently reviewing a number of opportunities in the metals and mining sector."

The value of diamonds seems to have transcended our physical world and taken a privileged place in the universe of Minecraft, an increasingly popular Lego style adventure game.

It has set a world auction record on a per-carat basis for a gem of this colour.