Image credit: Petra Diamonds
(morningstar.com) - This article is being republished as part of our daily reproduction of WSJ.com articles that also appeared in the U.S. print edition of The Wall Street Journal (April 4, 2020). The diamond industry faces a reckoning, with mines and processing centers closed due to the coronavirus pandemic and demand threatened by a looming global recession. Market leader De Beers, a unit of Anglo American PLC, has canceled a diamond auction, its third planned for this year, after its second auction ended in early March with sales down 28% from last year's event. Meanwhile, smaller mining companies such as Petra Diamonds Ltd., Dominion Diamond Mines and Mountain Province Diamonds Inc. confront rising risk of financial default after virus concerns led them to close their mines.
News
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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
