“Fantomas” Makes Diamonds “Magically Disappear”

News of Alrosa & related companies being victim of a theft is going around the diamond community. Alrosa is the largest diamond producing company worldwide, by far. It is owned by the Russian Government and Private Companies.

The Gokhran Depository is holding precious metals, jewels and stones, and has fallen victim of theft before. It is reported that several large stones were stolen from a large parcel on deposit and replaced by smaller ones.

The depository holds Russia’s supplies of gold, silver, platinum, diamonds, emeralds, sapphires, pearls and other stones and precious metals, and has been robbed several times over the years.

India’s Volume of Rough Diamonds Export Down 14.4%

Exports of diamonds last month were just north of $1.5 billion, down by over 18 per cent from to $1.85 billion at the same time last year.

Volume wise, this decline was over 14 per cent, Indian trade exporting over 2.80 million carats in July this year,  against 3.26 million carats last year.

Similarly, imports of rough diamonds in July fell 42.9 per cent to $1 billion against $2 billion last year. In volume terms, 9.36 million carats of rough were imported in July, a decline of 40 per cent compared with imports of 15.6 million carats in July 2014.

However the main markets both for rough and polished diamonds remained strong in places like Holland. Sourcing from Alrosa, the largest producer of rough diamonds. Another would be to make Mumbai a more attractive market in the global diamond trade, as India already cuts over 80% of the world’s diamonds.

Sierra Leone’s Ebola Crisis Dissipating

Since early July, Sierra Leone miners have restarted their mine exploitations, and mines are now operating in full swing. Most operations were suspended for about 7 months from late last year to this summer.

These are great news for all Sierra Leonians and for their economy. The Ebola still remains a threat in Sierra Leone, but there has been no new cases this month on record, which is very positive news.

Sierra Leone to Change their Rough Diamonds Export Procedures

A meeting will be held today in Freetown at the GGDO (The Government Gold & Diamond Office) for all Rough Diamond Miners/Exporters. This month of September set to be the month of changes in Freetown.

Madnox will keep you posted in regards to these new changes and or regulations which we are being told will take effect right away.