Dominion Diamond stock goes gangbuster on $1.1bn takeover bid

The owner of what was once Nunavut’s first and only diamond mine, Shear Diamonds Ltd., on Dec. 8 struck a deal with a Belgian diamond dealer that will give Shear the cash it needs to recover and sell diamonds from the mothballed site’s existing stockpiles.

Poor diamond sales have bitten into diamond retailer and miner Harry Winston Diamond Corp.

Eric Friedland reports that he has exercised rights under the rights offering of Peregrine Diamonds Ltd. ("Peregrine") completed on December 6, 2011 to acquire deemed beneficial ownership of a total of 2,818,465 common shares of Peregrine, representing 2.5% of the deemed outstanding common shares of Peregrine.

Giant terrestrial planets also know as “Carbon super-Earths” that contain up to 50 per cent diamond may possibly be in the Earth's galaxy, a new study suggests. But if they exist, those planets are unlikely to have any sort of life and incapable of supporting it.

Latest report from Bain & Company says that diamond industry will grow more than 6 percent a year over the next decade, which will hold up prices even through periods of volatility.

The human rights organization – co-nominated for the 2003 Nobel Peace Prize for its work on conflict diamonds – said the decision to allow diamonds from Zimbabwe's rich Marange fields means the money that flows from there ends up in the pockets of the Robert Mugabe-aligned military's top brass who could use it to organize support to intimidate the opposition in the run-up to elections. Hundreds were killed and thousands of local miners were driven off claims when the Zimbabwe army seized control of the Marange area in 2008.

Nature reports that quantum entanglement, odd behaviour at the subatomic level coined 'spooky action at a distance' by Albert Einstein, has been scaled up to the level of two macroscopic diamonds.

The environmental impacts of what would be the Northwest Territories' fourth diamond mine are being studied in Yellowknife, the capital.

De Beers' second mainland China standalone was opened earlier this week. De Beers Diamond Jewellers has opened a second store in China, in The Friendship Mall in Tianjin, its second standalone in six months.