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.
Dubai Diamond Exchange (DDE) and the London Diamond Bourse (LDB) have signed a Memorandum of Understanding (MoU) aimed at strengthening cooperation between the two diamond trading centres, expanding business opportunities for members, and promoting responsible growth across the global diamond and gemstone trade. The agreement was announced on 8 July 2026.
The MoU establishes a framework for collaboration in responsible trading, commercial development, knowledge sharing, and closer engagement between members of the two bourses. It also seeks to encourage dialogue on issues affecting the international diamond industry as trading centres adapt to an increasingly interconnected global marketplace.
The agreement was signed by Ahmed Bin Sulayem, Chairman of the Dubai Diamond Exchange, and Charlotte Rose, President of the London Diamond Bourse. It marks the first formal international partnership under Rose’s presidency, which began in June.
Ahmed Bin Sulayem, Chairman, Dubai Diamond Exchange, said:
“The Dubai Diamond Exchange was built on the belief that connecting markets creates opportunity. This partnership with the London Diamond Bourse reflects that philosophy, bringing together two major diamond trading centres to strengthen collaboration and expand opportunities for our respective members. The future of our industry will not be built by individual markets acting alone. By working more closely together, we can establish a stronger network of trusted trading centres, sharing expertise, upholding recognised standards, and reinforcing confidence and growth across the global diamond trade.”
Charlotte Rose, President, London Diamond Bourse, noted:
“There is no better partner for the London Diamond Bourse to begin this new chapter with than the Dubai Diamond Exchange. As a fellow member of the World Federation of Diamond Bourses, the DDE shares our commitment to trusted, well-governed trading, and this agreement opens up real opportunities for members on both sides. I’m looking forward to seeing where this partnership takes us.”
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