Petra shares drop after it cuts 2019 diamond production forecast

But If recent auctions in Geneva are any indication, “The Blue” could go for $50 million or more.

Platinum output fell by nearly 40% as a consequence of a more than three-month strike over pay in the sector South Africa.

Canada’s newest diamond exploration company, Margaret Lake Diamonds Inc. commenced trading this morning on the TSX-Venture Exchange under the symbol DIA.

Diamond production went up by 6% in the first quarter of the year.

Despite billions spent on exploration, only around 30 significant diamond mines are currently in production.

The 14-year-old found the unique a 3.85-carat jellybean-size piece in an Arkansas state park last year.

De Beers' explored for diamonds in the Southern African nation between 2005 and 2012, but relinquished its concession after finding no economically viable project.

While diamonds are the most strictly checked raw materials in the world, there is a certain amount of illegally traded gems that make it into the market.

The agreement with three parties lays out a series of proposed financing transactions for the mine, the world’s biggest undeveloped source of diamonds.