Market News
Key Development
Several key players in the global industrial diamonds market are engaged in developing growth strategies such as merger and acquisition in order to maintain their global position.
- For instance, in October 2011, Scio Diamond Technology Corporation, one of the leading player in industrial diamonds market, established its manufacturing operations in Greenville County, to produce high quality, single-crystal diamonds.
- In March 2013, Schlumberger Limited, introduced Stinger conical diamond technology, for improved drilling performance.
- In April 2015, Scio Diamond Technology Corporation, increased its lab grown diamonds manufacturing capacity. The company is refitted its diamond growing reactors with larger growing platforms. They also added new reactors for diamond.
- In 2015, Schlumberger Limited, leading oil and gas service provider, acquired Novatek Inc., a U.S.-based company that is specialized in synthetic diamond cutting technologies. This acquisition helped in boosting the drill bits product portfolio of Schlumberger Limited. Schlumberger also acquired Novatek’s R&D center as part of the acquisition, which will boost the company’s technology capabilities through innovations and product developments.
- In December 2019, Alrosa, a diamond mining companies, planned to start trial mining at a new section of its Luaxe deposits in Angola by mid-2020.
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