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Article:
Diamond Flashes by: Laura Ciocan Beyond magnificence and splendor, the world of diamonds evolves on stirred grounds. When the stake is so important, interests collide. But technology develops following its onward course. Here are some interesting off-stage events in the diamond industry and innovations in technology. De Beers sued by head of the Diamond Bourse Derek Parsons, the president of the Diamond Bourse of the Southeast United States has filed a lawsuit against De Beers, on the charge of the company's disregard of American competition law. Their Supplier of Choice policy puts the American dealers at a disadvantage. The suit was not launched on behalf of the Miami bourse but on behalf of diamond dealers in America, condemning the criteria on which De Beers makes the sales '“ they would sell only to their sightholders, discouraging the non-sightholders and keeping prices artificially high at a non-competitive level. Diamond mining expands De Beers holds control of only 50% of the roughs market Diamond rising prices have stimulated the exploration and mining in more countries such as Canada, Russia, Angola, India, Brazil. Nevertheless, about 40% of diamonds still come from Botswana and South Africa. De Beers' control on the rough diamond market was declared to have decreased from 70% to about 50%. Canada, Russia and West and Central Africa are considered by specialists an important potential diamond source. India and Brazil are prospected by geologists also due to the fact that they are known to have been a diamond source in the past. The largest diamond reserve of Africa lives in extreme poverty Although the fourth largest producer in the world by value and the holder of the largest diamond reserves in Africa. Angola's per capita gross national income GNI is estimated at $650 per annum. People' s main means of subsistence is agriculture. The diamond sector has been seriously affected by the long war and by gem smuggling. Yet it still represents a very important potential driver of economic development. Since '2002
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