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How Russia-Ukraine war served as a wake-up call for Surat’s diamond industry

Last week, around 350 of the thousands of workers at Laxmi Diamonds, a cutting and polishing factory in Surat’s Varachha, called a protest demanding a salary hike and pay vacation. Owned by the Gajera brothers, the factory had declared a summer vacation from May 5 to May 28. But the workers were called back, and

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Botswana partners gem trader HB Antwerp, seeks to loosen De Beers’ grip

GABORONE (Reuters) – Botswana will take a 24% stake in Belgian gem processing firm HB Antwerp as it seeks to gain more value from its diamonds, President Mokgweetsi Masisi said Monday, a move which might start to loosen De Beers’ grip on the country’s diamond industry. Botswana’s state-owned diamond trading company, Okavango Diamond Company (ODC),

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