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De Beers sends mining ship to explore Namibian coast

The $157 million vessel can accommodate a crew of 80 and has a helicopter deck suitable for Sikorsky S61s.

de beers ship

De Beers, the world's No.1 diamond miner by value, unveiled last Thursday the world's largest diamond exploration vessel, which will search for the coveted stones on the seabed off the coast of Namibia.

The $157 million vessel will enable Debmarine Namibia, a 50/50 joint venture between the government of the African country and De Beers, to explore diamond deposits and secure diamond supply in the country well into the future, the Anglo American unit said in a statement.

Are American malls dead?

With All the Bankruptcies and Closings, How Will the Mall Survive?

mall GettyImages

My first retail job in 1983 was at a RadioShack store in a small Indiana town. We had no POS system or any other technology to help us outside of the calculator we used to add up the numbers on the invoices. Our best-selling item was a computer called the TRS-80 that proudly boasted a memory size of 16kb. And that was mind-blowing!

Vladimir Putin’s $1 million watch coming to auction

Vladimir Putin

Vladimir Putin, watch guy. Yup, our president's best frenemy is something of a horological connoisseur, and, as has been reported over the years, his collection includes everything from a Blancpain Aqualung that he wore while signing the treaty to annex Crimea to a range of other watches that make up six times what his declared yearly income is. Today, however, we've found the most impressive and expensive timepiece from the Putin collection, and it's coming up for sale.

Granddaughter sues jeweler, company and family for negligence in jewelry store murder

murder eA granddaughter of South Carolina jeweler Ivo Colucci has filed a lawsuit accusing him, his company, and other family members of negligence, after authorities say Colucci shot his wife to death in front of the girl inside the family’s North Chalreston store in April.

Millennials reject diamonds? Prepare to start hearing a new story


Almost exactly a year ago, The Economist tweeted a story about the Lesedi La Rona failing to sell at auction with a baiting question: "Why aren’t millennials buying diamonds?" Now, to be clear, the Lesedi La Rona, an 1,109-carat rough stone with a predicted price tag of $70 million, didn’t fail to sell because it couldn’t attract an eager millennial buyer. Diamonds that large and that rare tend to go to international collectors on the level of Laurence Graff or moneyed Middle Eastern princes – not, as that tweet might suggest, lovesick American twenty-something’s.

Jewelers Mutual lists 5 types of jewelry store thefts and how to prevent them

Jewelry theft holding jewelry

When you see a news story about jewelry crime, it usually features a brazen attack like a smash-and-grab robbery or rooftop burglary. While these crimes are newsworthy for the general public, jewelers shouldn't overlook small-scale thefts that continue to plague the jewelry industry, too.

Year after year, the number of these types of thefts reported to the Jewelers’ Security Alliance remains staggering. Each incident may represent a small dollar amount when compared to other types of crimes, but they can add up fast. If you don’t know what type of criminal behavior to be on the lookout for, these crimes will continue to nickel-and-dime (speaking extremely loosely) the industry a few pieces of jewelry at a time.