Firestone soars after finding massive diamond at new Lesotho mine

Peregrine Diamonds Ltd. ("Peregrine" or "the Company") is pleased to report that it has entered into a binding agreement with BHP Billiton to purchase BHP Billiton's 51 percent participating interest in the 8,580 square kilometre Chidliak diamond project ("Chidliak" or "the Project"), Baffin Island, Nunavut, Canada.

The United States on Monday sanctioned two diamond mines located in Zimbabwe's Marange region, the scene of serious human rights abuses in 2008.

A total of US$6.4 million obtained Lucara Diamond Corp. for the sale rough diamonds at its second tender of gems recovered from the Mothae mine in Lesotho. The company reported that all 28 lots offered received multiple bids with 7,190 carats garnering an average price of $893 per carat.

Announcing its third quarter on Thursday, Harry Winston (TSX:HW) reported a $4.7 million loss and said it is keeping some of its diamonds on ice.

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.