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

South Africa mining output falls 12.7% in August on weak PGMs, coal and iron ore

South Africa's mining output declined 12.7% year-on-year in August, according to Statistics South Africa, with platinum group metals, coal, and iron ore accounting for the largest negative contributions.

Yesterday

Human Rights: Industry Could do Better... and so Could Watchdogs

29 january 2021

(idexonline.com) - The jewelry industry did not get good marks in its end-of-term report from Human Rights Watch (HRW). None of the firms surveyed in the NGO's report, entitled Sparkling Jewels, Opaque Supply Chains, achieved an "excellent". Most were rated moderate, fair or weak, and a few got no score at all because they didn't bother handing in their homework - that's to say they didn't respond to HRW questions. The report, published in the end of November, is a substantial piece of research, thoroughly documented, bolstered with copious footnotes and running to almost 90 pages. It doesn't claim to be comprehensive. Rather it is a snapshot of 15 big players who collectively generate over $40bn a year to give an overall indication of how the industry is tackling then problems of exploitation, poor traceability, dangerous working conditions.