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The Momoh or "Peace" diamond - the Story of 2017


Posted by: Editor
Date: 1/4/2018
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When we want to sum up 2017 for the diamond industry, there is no better way of telling it through the story of the Momoh diamond.

The Momoh diamond, or as it was later renamed, the "Peace Diamond" was found by a Pastor named Emmanuel Momoh in Sierra Leone. This truly enormous diamond, 709 carats to be exact, brought a lot of hope to the people of Sierra Leone, a very poor African country.  Such a rare find could bring diamond mining companies back to this country now the bloody civil war is over and normalization is underway. 

Our story of 2017 is a story of the revival of the diamond industry, hoping for bringing back prosperity to the industry and the hundreds of thousands of people working in this. But after many positive signals, the industry moved forwards cautiously with many bumbs and disappointments. 

Initially, the government of Sierra Leone had refused an offer to sell the Momoh diamond for $7.8 million, only to be later sold at an auction for 'only' $6.5 million. 

The diamond industry did recover to some extent, just not to the prestigious size it had been before. We have to work harder and smarter to make a profit. We have to focus on what is important to our customers, bringing them the best value for their money. 

Happy 2018!

 

 

 



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