International News
Rio Tinto Unveils Rare 158ct Yellow Diamond from Diavik Mine in Canada
One of the largest gem-quality yellow diamonds ever discovered in Canada, the 158.20-carat gem is a remarkable find as Diavik Mine nears closure.
Rio Tinto has uncovered a rare and exceptional 158.20-carat yellow diamond at its Diavik Mine in Canada, marking one of the largest gem-quality yellow diamonds ever found in the country. This stunning discovery is also among only five yellow diamonds weighing over 100 carats to be unearthed by the company at Diavik throughout its 22-year history. Notably, Diavik is primarily known for producing white diamonds, with less than 1% of its output being yellow stones.
The Diavik Mine, which is set to close next year, is also responsible for several significant yellow diamond finds, including Canada’s largest yellow diamond, a 552.74-carat gem discovered in 2018, and the 187.7-carat Diavik Foxfire found in 2015.
With the closure of the Argyle mine in Australia in 2020, Diavik is now Rio Tinto’s sole diamond asset. Patrick Coppens, General Manager of Sales and Marketing for Rio Tinto’s diamond business, expressed excitement over the unique beauty and purity of the Diavik diamonds, eagerly anticipating the future of this extraordinary find.
International News
Sarine Posts $3.49 Mn H1Â Loss As LGDÂ Pressure Market
The Company Attributed The Latest Deficit Primarily To Higher Operating Expenses, Which Increased About 25% From A Year Earlier, Competition From Lab-Grown Diamonds and Weak Luxury Demand
Sarine Technologies Ltd. reported a net loss of $3.49 million for the first half of 2026, as competition from lab-grown diamonds and weak luxury demand in key markets continued to weigh on the diamond industry.
The Israel-based diamond-technology company said it expects market conditions to remain challenging, although anecdotal reports indicate that retail demand for natural diamonds has remained relatively stable.
Sarine’s loss for the six months ended June 30 compared with a $3.7 million loss in the second half of 2025 and a $166,000 loss in the first half of last year.
The company attributed the latest deficit primarily to higher operating expenses, which increased about 25% from a year earlier. Nearly half of that increase was linked to the impact of a weaker U.S. dollar against the Israeli shekel.
The natural-diamond polishing sector continued to face pressure from lab-grown diamonds, particularly in the U.S., while subdued luxury spending in China added to the strain. Sarine said those conditions hurt sales of capital equipment and some of its traditional services.
Some parts of the business, however, showed stronger momentum. Revenue from Sarine’s Most Valuable Plan, or MVP, more than doubled in the first half as diamond manufacturers increasingly adopted artificial-intelligence-driven planning tools to improve yields and reduce production costs.
Certification activity at GCAL, in which Sarine acquired a 70% stake in 2023, also increased more than 50%. The growth helped cushion weaker sales of capital equipment and lower volumes from the company’s Galaxy scanning business.
Revenue declined 6% year over year to $14.41 million, while the operating loss stood at about $2.2 million.
The results underscore the uneven impact of the diamond market’s structural shifts on technology providers. While traditional equipment and services remain exposed to pressure on natural-diamond manufacturing, demand for technologies that improve efficiency and reduce costs is gaining traction as manufacturers contend with tighter margins.
Sarine Posts $3.49 Mn H1Â Loss As LGDÂ Pressure Market
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Gargi By P N Gadgil & Sons Unveils Rakhi Collection 2026: Over 1,000 Silver Designs, A Kids’ Character Range and 9kt Gold Gifting For Sisters
Sarine Posts $3.49 Mn H1Â Loss As LGDÂ Pressure Market
This Raksha Bandhan, Turn A Timeless Bond Into A Keepsake With Palmonas
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International News6 hours agoSarine Posts $3.49 Mn H1Â Loss As LGDÂ Pressure Market
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