De Beers to make largest investment in diamond marketing since 2008

As premier sponsor of the Jewellery News Asia (JNA) Awards, Rio Tinto congratulated the shortlisted finalists announced at a press conference in Hong Kong last Thursday.

The company's supervisory board, which met in the wake of Russia's announcement to sell its in 51% stake in Alrosa, outlined intentions to reduce open-pit mining, increase diamond reserves to over 1.1 billion carats and invest in iron ore.

Zimbabwe’s Deputy Mines Minister, Gift Chimanikire, confirmed an army-owned company owns 40% of Anjin, one of the most lucrative diamond concessions in the country.

Gem Diamonds said initial production at its Ghaghoo underground mine project in Botswana would be delayed until the first half of 2014 after an accident yesterday resulted in the death of two workers.

Indian firms that have borrowed funds from overseas banks would now have bear a higher burden for discharging their debts. Moreover, the diamond industry is dependent on import of rough diamonds and depreciation of rupee would push up the import cost even when prospects for exports of polished diamond might remain uncertain.

Antwerp's diamond polishers are aging and in order to recruit new talent, the the local diamond industry is offering free education under its 'Antwerp Diamond Masterplan – Project 2020’

The Democratic Republic of Congo’s Ministry of Mines went on the defensive on Monday about allegedly granting mining licenses to companies with close connections to the government. It qualified those accusations as uninformed and a “double standard."

"Natural resources companies with a pipeline of, say, five projects in five different countries are now likely to build just two or three of those. Thus, executives have the power to cherry pick which combination of country and project offers the best returns."

De Beers considered a bid for BHP Billiton's 80% stake in Canadian diamond mine Ekati, but has now become the latest interested party not to submit an offer, perhaps leaving the door open for jewellery retailer Harry Winston to pick up the massive producer for a bargain price.