Angolan Mining Oil & Gas

A  fancy-vivid-blue diamond with a high estimate of $50 million will be the star of an upcoming Geneva jewelry auction at Christie’s. The pear-shaped, 17.61-carat Bleu Royal diamond is the largest internally flawless gem of its color ever to appear at auction, Christie’s said Monday. It will headline the November 7 Magnificent Jewels sale. The stone has spent the past 50 years in a private collection. Now set in a ring, it is entering the

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Petra Diamonds gave a downbeat outlook after weak rough demand drove the company into the red in the most recent financial year. Revenue slid 42% to $325.3 million for the 12 months that ended June 30, the miner reported Friday. Sales volume dropped 33% to 2.3 million carats, with the average price falling 14% to $139 per carat. The slump reflected decrease in production, the deferral of sales to the 2024 fiscal year due to

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Inventory in the diamond trade will remain high for the time being amid reduced retail demand, but the market will eventually rebound, De Beers has predicted. “While there have been some positive signals in some countries, with US inflation continuing to fall and the economy proving more resilient than anticipated, 2023 consumer demand for natural diamonds is expected to be below the record levels seen in 2021 and 2022,” the miner said in its annual Diamond Insight

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