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.
Today
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.
Today
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...
Today
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...
Today
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...
Yesterday
Diamond sector could take two years to recover unless De Beers can stage rescue act
(miningmx.com) - The diamond market is in a serious hole from which it could take the best part of two years to emerge, according to Goldman Sachs analyst, Jack O’Brien. According to O’Brien, however, the mid-stream market of cutters and polishers has collapsed in India owing to lack of credit leaving behind significant stockpiles. Alrosa, the large Russian diamond producer, expects to end this year with some 30 million carats of diamonds in inventory, roughly the same as a year’s production. De Beers, in which Anglo American has an 85% stake, barely made any contribution to earnings in the group’s current financial year.
