Angola's Catoca lost almost $500 million as a result of underpricing due to the government's marketing system.
Mountain Province Diamonds discovers "white octahedron," a 95-carat diamond unearthed from the Gahcho Kue mine in Canada.
Africa, even with its abundance of natural resources, has not risen to the top because of the lack of regulation in the mining industry.
Adding pressure to Israel's diamond industry is the fact that India has taken its spot in the global market.
The Israel Diamond Exchange also launched the Carats.IO Diamond Currency during the event.
Strong Chinese and Indian demand may propel diamond prices to new heights in 2018.
Support for synthetic, ethical and lab-grown diamond is growing amid issues on traditional diamond extraction.
Sales of rough diamonds in Belgium, Brazil and Botswana have not been impressive so far this year.