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Keep In Touch With The Latest Developments In The Gem Industry
June 26, 2009

Monthly Newsletter


Dear

1) Sri Lanka's Gemstone Mining Industry Affected by the recession.

Most of the gemstone miners of Sri Lanka are forced to pull out of their mining jobs. According to a recent report by the Sunday Times of Sri Lanka the miners cited numerous reasons for pulling out of the industry, top on the list was the endless bureaucratic red tape and the global economic downturn. Read More

2) Launching of state of the art news website. We have launched a new news website located in the sub domain news. internet stones. com View our news website

3)Conflict Diamonds Conference to review progress

At Windhoek, Namibia over 200 delegates are meeting from Tuesday to review efforts in preventing diamonds from funding armed conflicts in developing countries.

The three day long meeting will be hosted by Namibia, which is currently heading the Kimberley Process. Read More

4)Blue Diamond sold at Christie’s Auction for US$3.6 million

On Thursday the 11th of June at New York a rare blue diamond fetched approximately $3.6 million-US$3,554,,500 or US$565,000 a carat at Christie’s Spring Jewellery Sale.

The blue diamond, a pear cut 6.29-carat fancy intense blue stone was purchased by an anonimous buyer. Read More

5) De Beers to increase diamond output.

De Beers, the worlds largest diamond group is to increase stocks of rough diamonds.

The De Beers Managing Director Gareth Penny noted that stocks of rough diamonds were down by 20-30 percent from 2008 peaks. This was disclosed in the first ever Antwerp Town Hall Meeting for diamonds.

The news was welcomed by the Antwerp diamond traders. The managing director also answered numerous questions fro the audience. Some of the questions included possible price hikes. However Gareth Penny did not disclose if the prices will be raised at its upcoming Sight (A Sight is a regular purchase of rough diamonds by sightholders). Read More

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Best Regards

Dr Shihaan M Larif
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