Top diamond miner’s 36-year-old chief to prove himself with cuts

Stornoway Diamond Corp will spend $28.4 million to advance its Renard diamond project in northern Quebec, the Vancouver-based company (TSX:SWY) announced yesterday.

De Beers on Wednesday launched rescue efforts for diggers who have been trapped after an illegally excavated tunnel collapsed in the diamond giant's abandoned Namaqualand mining area.

The Montreal Gazette interviews Gevorg Mkhitaryan, owner of a small diamond polishing operation, who was part of a group of about 60 Armenian diamond cutters and polishers brought to the Northwest Territories to work in Canada's Yellowknife’s nascent diamond processing industry.

African DiamondCorp (LON:DCP) said its 74% owned Lace Diamond Mines, the company's primary asset in South Africa, has entered into a loan funding term sheet with the Industrial Development Corporation of South Africa Limited (IDC), the company announced Monday.

London-based diversified miner Rio Tinto (LON & NYSE:RIO) is donating the biggest pink rough diamond ever discovered, found earlier this year at its Argyle mine, to an Australian museum in Melbourne, reports The West.

Charles Taylor, was convicted in April of war crimes for arming Sierra Leone's rebels in return for blood diamonds. Taylor is now awaiting sentencing and the BBC tries to find out if mining in the country is now “clean”.

Rick Rule's presentation at the New York Hard Assets Conference earlier this week sees some light for the informed junior resource investor despite current patterns which have mostly been Bad or Ugly!

Laurence Graff, the undisputed king of uber-expensive diamonds, will earn a tidy $290 million windfall when he restructures his Mayfair-based company and will vastly boost his paper wealth when Graff Diamonds lists in Hong Kong for as much as $4 billion.

A 52-year-old man detained in a dry cell at a police station in Windsor, Ont., while they wait for him to give up a $20,000 diamond, has finally passed the stone. He is accused of swallowing the diamond last week.