Nazi ‘gold train’ hunt in Poland is back on

Botswana exported $462.5 million worth of polished diamonds in March, a 50.7% year-over-year increase in exports, based on figures released by the Bank of Botswana. This brings the country’s first quarter diamond exports to $1.019 billion, the highest value ever in the first quarter. The exceptional level of exports, which include rough and polished diamonds, gained 34% over the first quarter of 2010 and is 0.2% above exports in the first quarter of 2008.

A Conference Board of Canada report says high energy and metals prices "are prompting resource companies to invest billions in iron ore projects, nickel processing and offshore oil developments" in Newfoundland and Labrador, generating the largest growth in real GDP this year of all the Canadian provinces." The board's Provincial Outlook - Spring 2011 report issued Wednesday also forecasts that Saskatchewan "will benefit from tax breaks and a hot mining industry."

The secretive Russian diamond giant Alrosa on Thursday provided a rare glimpse into its finances and operations ahead of a possible public offering. The state-owned company supplies about a quarter of the world’s diamonds and in 2010 produced more of the precious stones than De Beers, historically the dominant miner and marketer of the gems. Alrosa's president Fyodor Andreyev said an internal audit showed its diamond reserves at 1.28bn carats, making the company the world's biggest holder: “At current extraction rates, the company's reserves will last more than 40 years.”

Reuters reports on Tuesday Russian diamond monopoly Alrosa may use the spoils of high diamond prices to develop an asset in northwest Russia rather than let a foreign miner such as Rio Tinto onto its territory, a source close to the company said. The source said on Tuesday high diamond prices meant Alrosa had enough cash to finance development of the Sevalmaz project by itself. Russian business daily Vedomosti reported in December that it could sell a 49% stake to the global miner for almost $400 million.

The Israeli Diamond Industry website reports the governor of Zimababwe's central bank is proposing that the country sell its diamonds to fund a gold-backed currency to replace the defunct Zimbabwean dollar, which was suspended due to hyperinflation. The Antwerp-based Diamond High Council estimates that Zimbabwe will become the largest producer of diamond in the world by 2013, with an expected volume of 40m carats per year worth some $2bn annually from the rich deposits in Marange. Zimbabwe is currently the subject of an international ban on the export of its diamonds.

Harry Winston Diamond Corporation (TSX:HW) (NYSE:HWD) (the "Company") is pleased to announce that it has entered into a business relationship with Diamond Asset Advisors AG ("DAA") who are in the process of establishing a polished diamond investment fund. The fund will be structured as a limited partnership, of up to US$250 million, offering institutional investors direct exposure to the wholesale market price of polished diamonds. Under the terms of the Company's arrangements with the fund, the Company's expert diamond team will source diamonds that have the same high quality characteristics that Harry Winston uses in its jewelry and timepieces, with a portion coming from the Company's existing inventory.

Oraco Resources, Inc. (“Oraco”) announced today that it has acquired the contractual rights for the disposition of diamonds, gold, and any other minerals recovered in both the Zimmi Town, Pujehun District and the Gbense Tailings No. 5 reserve in the Koidu Town, Kono District of Sierra Leone through the acquisition of 100% of the ownership of Oraco Resources, Inc., a Canadian corporation (“ORI”), and Jyork Industries, Inc., a Sierra Leone company (“Jyork”). “Oraco’s main focus in Sierra Leone is to locate, prospect, and mine for diamonds, gold and other natural resources, while at the same time purchasing and exporting rough gem quality diamonds for sorting, polishing, cutting and sale”

Fast-growing Danish jewellery maker Pandora (PNDORA.CO: Quote) missed forecasts with a 55 percent rise in first-quarter profit as price rises failed to […]

Gross exports of polished diamonds from India continue to grow, rising 5.5% year over year. In April the country exported nearly 5 million carats worth $2.05 billion, according to the latest figures published by the GJEPC.