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
Rapaport Weekly Market Comment
11 january 2021
(diamonds.net) - Diamond trade ends challenging 2020 with 1 ct. RAPI +5.8%. Firm polished prices reflect inventory decline after significant drop in manufacturing and rough sales. Optimism for 1Q as jewelers and dealers seek goods following the holiday season. Retail outlook still cautious amid spike in global Covid-19 infections. Lockdowns may curb jewelers’ inventory replacement efforts. Rising expectations for China jewelry sales ahead of Feb. 12 lunar festival. Tiffany & Co. Nov./Dec. sales +2%, Asia Pacific +20%, Americas -5%, e-commerce up more than 80%. Titan Company jewelry sales +15% during 3Q Diwali period. Russia resumes KP chairmanship after 2020 meetings suspended.
If diamonds are a dime a dozen, why are they so valuable?
05 january 2021
(sbs.com.au) - When you hear the word diamond, do you think “blood” or “marriage”? We know that diamonds are too often caught up in deadly conflicts and human rights abuses. But now they can be made in a lab. So, does that mean no more blood diamonds? And cheaper engagement rings? Alice Matthews investigates the Case for and against diamond rings.
The final frontier
04 january 2021
(jewelleryfocus.co.uk) - The universe is infinite, and so likley are its resources. One of the earliest thinkers of the modern space-mining is John S. Lewis, the current professor emeritus of planetary science at the University of Arizona’s Lunar and Planetary Laboratory. He wrote his book, Mining the Sky, as early as 1997. According to Lewis, asteroid mining could be the “biggest game-changer in human economic history”. Our solar system is filled with asteroids. They are the left-overs of the formation of the solar system. Little bits of rock that never made it into planets or moons. They are also rich in iron, nickel, and valuable platinum-group metals such as platinum and iridium – and of course diamonds. Every year something like 200 tonnes of platinum is extracted from the Earth’s surface — to the tune of about $6bn (£4.6bn). But according to some estimates, the value of these platinum- group metals in all of the asteroids “close” to the Earth is valued at $700trn (£541trn). There is one particular mile-wide rock named 3554 Amun that is alone thought to contain $20trn (£15.7trn) worth of valuable metals and diamonds. And unlike on Earth, these precious materials are not buried under the surface, they are practically lying on top, waiting to be extracted. So it is perhaps not surprising that so many companies are scrambling to get up there. A further motivating factor is Goldman Sachs’ claim that the fortune of the first individual trillionaire is to be made in asteroid mining.
Botswana Ready to Leverage Its Diamond Supply
30 december 2020
(diamonds.net) - The December edition of the Rapaport Research Report, published on December 7, 2020, presents an in-depth analysis of how Covid-19 has impacted Botswana’s diamond industry and, by extension, its economy. As the poster child for the diamonds-do-good story, Botswana has been particularly vulnerable during the pandemic. Its heavy reliance on the diamond sector means its economy gains when the market is doing well and falters when demand slumps.
AGD DIAMONDS: Without slowing down its production rates
29 december 2020
(pravdasevera.ru) - The AGD DIAMONDS Company, one of the flagships of the Arkhangelsk Province’s economy, sums up operating results for 2020. The outgoing year has become a difficult one for the diamond industry all over the world; nevertheless, the Company managed to meet the annual production guidelines and continues upgrading its production facilities. Despite the downturn in the economy, the Company fulfilled all its social obligations to the main area where it operates. In 2020, AGD DIAMONDS’ tax contributions totaled 2.3 bn roubles to the budget of the Arkhangelsk Province and 30 mn roubles to the treasury of the Russian Federation .
