Rough

De Beers has raised prices of its rough diamonds for the first time in more than a year due to rising demand.

The mining firm put up prices by up to 2% at its latest sight taking place this week in Botswana according to three people familiar with the process Bloomberg Business reported.

The value of the goods sold is similar to that at De Beers’ February sight in which it sold $610 million of rough diamonds, the report said.

In January, De Beers sold $545 million of rough diamonds at its first sight of 2016.

The Lucapa Diamond Company has announced yet another discovery of an exceptional diamond.

This time, it is a 68.1 carat Type IIa D color diamond from a trial mining exercise at a new area at its Lulo operation in Angola.

The gem was one of eight special diamonds recovered during a trial mining operation at the E46 alluvial terraces, around 10 km upstream from the alluvial Mining Block 8 and 6, from which Lucapa has been producing large diamonds, the mining firm said.

After three months of development, DiaCam360 has released a software upgrade, putting its customers at the forefront of diamond imaging technology.

Zimbabwe plans to make the Chinese yuan legal tender in the African country in return for Beijing agreeing to cancel $40 million in debts.

Finance Minister Patrick Chinamasa said the decision follows Zimbabwe's move to increase trade with China.

It's not clear yet how the decision will be implemented, although Chinamasa said use of the yuan “will be a function of trade between China and Zimbabwe and acceptability with customers in Zimbabwe."

The Russian diamond monopoly's Supervisory Board has approved the mining group's budget for 2016.

The firm expects diamond output to come in at up to 39 million carats.

The mining giant said in a statement that its key objectives for its production program next year are to reach the design capacity of the Mir underground mine and put the second start-up complex of the Udachny underground mine into operation in the second half-year.

Botswana has been in the diamond industry news a great deal in recent weeks with discoveries of diamonds, capped by the huge media coverage of a 1,111-carat diamond uncovered by Lucara Diamonds.

However, the country's diamond income looks somewhat uncertain since predictions by analysts suggest the gems will have depleted in 15 years time. 

That would be a considerable blow to the Southern African nation which has financed national development since achieving independence in 1966.

Botswana posted a 41 percent fall in exports of rough diamonds to $531.9 million in the third quarter of 2015 due to low sales at De Beers sights in recent months.

With zero exports in July, the figure for August was $358.5 million and September exports were $173.4 million, according to the Bank of Botswana.

In the first nine months of this year, exports dropped 23 percent on the year to $2.3 billion.

The Gemological Institute of America (GIA) will be holding seminars at the Israel Diamond Exchange next week.

They are aimed at increasing understanding and knowledge about treatments and synthetics. The speakers at the seminars will be Dr. James Shigley and Brenda Harwick.

'Identifying Diamond Treatments' is the title of the first seminar, and will presents information on the nature and treatment of diamonds including laser drilled, fracture filled, HPHT, irradiation, and multiple treatment processes.

Sarine Technologies Ltd, a worldwide leader in the development, manufacture and sale of precision technology products for the evaluation, planning, processing, finishing, grading and trade of diamonds and gemstones, is opening its first Allegro™ service center providing automated gemstone planning and shaping services.

The service center is located in the city of Jaipur, a worldwide hub for gemstone production, and will be operated by Sarine Group's Indian subsidiary.

Israeli natural colored diamond firm Leibish & Co. has secured 26 of the 65 diamonds offered for sale at the Argyle Pink Diamond Tender.

The winning bids were made in a strategic partnership with Kunming Trading Co, Leibish said on its web site.

Leibish & Co. won two stones at the tender in 2014, seven at the 2013 tender, 17 in 2012, six in 2011 and 2010, and one in 2009.