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Antwerp Diamond Centre is to release a stalled shipment of gems worth $200 million.

Some $200 million (£128.5 million) worth of diamonds has been released by a regulatory body in Belgium after a trading organisation lost its license.

According to Israeli Diamond Industry, the shipment of rough diamonds was seized because Brink, the organisation managing the transfer, had to commence bankruptcy proceedings for its Cash in Transit company earlier in November, with its license to trade revoked as a result.

The stones were held at Zaventem Airport under the authority of the Antwerp Diamond Centre (AWDC), an international regulatory body for the industry, after it raised financial concerns over the issue.

An open letter from the AWDC stated that the stalled shipment paralysed the distribution chain of rough gems, causing a great deal of damage to the sector, adding "Antwerp cannot be held hostage in this conflict any longer."

Last week, two rough diamonds mined in Lesotho, southern Africa were sold for $22.7 million, while a 4.68-carat rough blue diamond went for $4155,000 per carat – a record value for a gemstone from that site.

Bosses at diamonds firms expect sales of the precious stones to be stronger this Christmas than they were in 2009.

Sales of diamonds in European countries and the US are likely to be strong this Christmas, it has been suggested.

Paresh Sanghvi, chief executive of Diambel NV – a diamond manufacturer that has an office in Antwerp – was quoted by Daily News and Analysis as saying he is confident "consumers will be willing to spend more on diamonds in the coming holiday season".

Mr Sanghvi stated he is hopeful sales will begin to rise after consumers across western countries curbed their spending on luxury items like diamond jewellery over the past two years due to the global economic downturn.

His firm specialises in the sale of rough and polished precious stones and employs over 6,800 people at its units in the Belgium city and Palanpur, India.

Director of Arjav Diamonds Ashit Mehta was also upbeat, noting sales to developing countries such as China and India have been strong.

"We are hopeful the flow of orders will pick up as Christmas nears," he remarked.

The Bharat Diamond Bourse - the largest of its kind in the world - has opened in India.

The world's biggest diamond trade centre has opened in India, approximately two decades after plans were first put forward.

The Bharat Diamond Bourse (BDB), located in Mumbai, is part of the country's bid to rival places such as Antwerp as a major trading hub for diamonds.

President of the BDB Anoop Mehata said traders will have finished moving in to the new site by December and one highlighted the numerous benefits over the previous offices, which were spread across three buildings in the south of the city.

"All segments of the diamond business will get streamlined by coming under one roof, ensuring economy of trade and better work conditions," remarked Darshan Lakhani of Mahima Gems.

Traders, banks, investors and a customs department will all be housed in the new facility, which features a secure room for storing diamonds that are due to be exported.

Elsewhere in the country, it recently emerged Alrosa, the Russian diamond mining firm intends to open an office in India and sign supply deals with three companies.

South African president Jacob Zuma has called on diamond firms to consider expanding their operations into the country.
During a speech at a dinner organised by the Antwerp World Diamond Center, Mr Zuma outlined the benefits of South Africa as an investment destination.

"Despite considerable diversification of our economy in the recent past, the mining sector remains a key variable in our economic growth equation," he told attendees, adding mining in South Africa has been "the foundation of economic development" in the country for over half a century.

The president pointed to the recent success of the 2010 Fifa World Cup held by the nation, stating it shows South Africa is able to "deliver on its undertakings".

And he noted there may be long-term benefits for diamond companies that choose South Africa, as estimates indicate its mineral resources can be exploited for at least another century.

Also speaking at the event was president of the AWDC Nishit Parikh, who noted Antwerp and South Africa share an annual bilateral diamond trade volume valued at over £600 million.