Image credit: Gerd Altmann (Pixabay)
(paulzimnisky.com) - In mid-January the diamond industry was first directly impacted by the coronavirus labeled COVID-19 when quarantine measures were taken in China to control the viral outbreak including the temporary closure of shopping centers. An estimated 75% of jewelry stores in Mainland China, and the surrounding regions encompassing Greater China, were shut for an estimated 40-50 days through the first week of March. In addition, the measures taken in China halted diamond trade and other industry-related B2B (business-to-business) activity in industry important regional trade hubs. Global industry conclave, the Hong Kong International Diamond, Gem & Pearl Show, and related shows, were postponed from March until May.
News
Botswana, De Beers suitor near deal on ownership stakes – report
Botswana and a consortium leading the race to acquire De Beers are close to agreeing on their future ownership stakes, potentially clearing the way for Anglo American to exit the diamond miner, according to Bloomberg.
Yesterday
Petra Diamonds subsidiary ordered to wind up over unpaid tax
Petra Diamonds has confirmed that a winding-up order has been made against its wholly owned indirect subsidiary, Petra Diamonds UK Treasury Limited (PDUK Treasury), following a petition by HM Revenue & Customs.
Yesterday
LVMH’s watches & jewellery division revenue rose 8% in the first nine months of 2026
The Watches & Jewellery division of the French conglomerate LVMH, home to over 75 world-renowned luxury brands, recorded an 8% organic revenue growth during the first nine months of 2026 thanks to strong jewellery demand, despite a challenging economic...
Yesterday
Russian companies to increase investment in PGM exploration by 17% in 2026
In 2026, Russian companies will increase their investment in the exploration of platinum group metals (PGM) by 17%, with the total reaching nearly 2 billion rubles ($23 million), the Russian Ministry of Natural Resources and Environment...
Yesterday
Diamond jewellery sales in India set to increase 15% - 20% on sharp rise in gold prices
Indian diamond jewellery retailers anticipate a 15% - 20% increase in sales during the 2026 festive season, driven primarily by the sharp rise in gold prices which prompts consumers to consider diamond jewellery in more affordable price range...
14 october 2026
