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
Natural Diamonds Cut In Europe Will No Longer Face US Import Tariffs, Decision Is Expected To Benefit Antwerp
The Main Reason Was That The US Does Not Have A Domestic Diamond Mining Or Cutting Industry That Needs Protection From European imports.
Natural diamonds cut in Europe will no longer face US import tariffs after the US government removed the 10% duty that had been in place for the past six months.
The decision is expected to benefit Antwerp, Europe’s largest diamond cutting and trading hub. According to the Antwerp World Diamond Centre (AWDC), Belgium exported $2.1 billion worth of polished diamonds to the US in 2024.
The exemption was first introduced in September 2025 after discussions between the AWDC and the European Commission. The main reason was that the US does not have a domestic diamond mining or cutting industry that needs protection from European imports.
The reasons for granting the exemption remain unchanged- no diamonds are mined or cut in the US, so there is no local industry that requires tariff protection.
The earlier exemption ended in February 2026 after the US Supreme Court ruled that President Donald Trump’s reciprocal tariffs under the International Emergency Economic Powers Act (IEEPA) were unlawful. The US government then imposed a temporary 10% import surcharge under Section 122 of the Trade Act, which also applied to European polished diamonds.
After this surcharge expired on July 24, the US introduced new tariffs under Section 301 of the Trade Act. These tariffs target countries that do not have adequate measures to prevent imports linked to forced labor. However, natural diamonds cut in Europe have been exempted from these tariffs.
According to the US Trade Representative (USTR), the European Union is still strengthening its forced-labor regulations, which are expected to be fully implemented by December 2027.
-
Cover Story16 hours agoLaxmi Diamonds, Bengaluru: Built On Blessings, Driven By Passion
-
National News19 hours agoEmbrace August’s Birthstone- Discover The Timeless Charm Of Peridot With Candere By Kalyan
-
BrandBuzz14 hours agoExperience the GATSBY & RAAGINI Collections by Dassani Brothers at IIJS Premiere 2026
-
GlamBuzz14 hours agoTanishq’s Festival Of Diamonds Returns, Redefining Natural Diamond Sparkle Through Innovative Designs

