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
Engagement Rings: How Much Should You Really Spend?
15 december 2020
(wsj.com) - A little over a year ago, I embarked on the single most intimidating and exhilarating shopping quest of my youngish life: buying an engagement ring for my girlfriend. Lacking any clear guidance on how to go about this (hopefully) once-in-a-lifetime purchase, I turned, as one does, to Google. I kept coming across one confounding piece of advice: Spend about one to two month’s salary on a ring. In practice, hearing that you should invest about 15% of your yearly income on a ring just isn’t that helpful. What if you are a grad student with peanuts in your pocket? Or your future-betrothed would flinch at a crater-sized jewel? Or what if your salary doesn’t reflect your full financial picture?
Miners say COVID-19 has accelerated move to digital, automation
14 december 2020
(reuters.com) - The coronavirus lockdown is hastening digitalisation and automation in the mining industry, major firms and their partners said this week, helping to get more work done at remote mines, even if operators are far away. That trend will drive down costs quicker, leading to smaller, cleaner mines where more can be done with fewer people, industry officials said at the Imarc mining conference in the southeastern Australian city of Melbourne.
Tiffany Buyout: A Lot of Noise for a Little Discount
11 december 2020
(idexonline.com) - Coronavirus has played havoc with the production schedules for TV soap operas. The cast and crew of the USA's The Young and the Restless, Britain's Coronation Street and many other favorites have been hit by illness, self-isolation and the demands of filming at a social distance. But the most gripping show in Diamond Land has continued unabated - the day-to-day drama that is "LVMH Buys Tiffany". A marriage seemingly made in heaven turned sour when the groom (LVMH) ditched the bride (Tiffany) at the altar. Cue bitter recriminations, legal threats and counter threats, followed by last month's (surprise) reconciliation, after which they all lived happily ever after.
Five Countries Lead Diamond Supplies to the US
10 december 2020
(edahngolan.com) - Diamond supply to the US comes from all over the world. As the world’s largest diamond consumer market, the US is the country that imports the most diamonds – more than $400 billion worth of polished diamonds in the last 30 years. To be precise, between January 1989 and August 2020, US gross imports totaled a mammoth $426,142,353,096 worth of polished diamonds. By the end of 2024, there is a good chance that this number will reach a massive half trillion dollars. Where do these diamonds come from, and what does it say about diamond mining? Where Do US Diamonds Come From?
Policy Watch: Diamonds may not be safe for investors any more
09 december 2020
(freepressjournal.in) - The last couple of months have witnessed a barrage of advertisements seeking to lure jewellery buyers to diamonds. They talk about how natural diamonds are the safest items of jewellery, unique and invaluable. Really? To understand this, one needs to realise two things. Prices of diamonds are falling (see chart below). No matter what people tell you, the lustre has gone out of this gemstone. This was captured by Bloomberg in its recent reports. Moreover, prices are unlikely to climb back again because of several reasons.
