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
An Easier Way to Beat Lab-Grown Diamond Fraud
11 november 2020
(idexonline.com) - Recent advances in growing and treating diamonds has garnered much public attention, yet relatively little has been published on the subject. We have witnessed large and small companies pursuing investments in HPHT / APHT / LPHT treatments, irradiation and especially technology for growing HPHT and CVD diamonds. Many companies are already in place and ready to capitalize on these new techniques, and it is only the complexity and the sophistication of the technology that slows new investment. We will deal with the problem of identification and certification of diamonds when laboratory-grown diamonds, larger than 1ct, become common enough to sufficiently meet the needs of the market. We will also address the potential risks certifying laboratories run in losing consumer confidence, as well as the ultimate question - how can consumers and jewelers trust that mounted diamonds have been identified and certified?
De Beers will manufacture up to 400,000 ‘lab-grown’ diamonds in new Gresham factory
10 november 2020
(oregonlive.com) - Does a diamond lose its luster if it comes from a factory, in Oregon? De Beers is betting nearly $100 million on big demand for a new class of gem manufactured in a Gresham laboratory instead of emerging from millennia of natural forces under the earth. And it’s gambling the manufactured diamonds won’t undercut its core market for the far more valuable traditional variety. The Gresham gems, marketed under the Lightbox brand, sell for just $800 a carat. A comparable natural diamond might run somewhere between $3,000 and $6,000 per carat.
Petra Diamonds must restructure debt despite strong recovery
09 november 2020
(businesslive.co.za) - London-listed Petra Diamonds, which is engaged in a plan to address a $650m bond that falls due in 2022 and which would dilute existing shareholders to a mere 9% stake in the miner, reported a decline in production in the quarter to end-September, the first of its financial year. Consolidated debt was $688m at the end of September. Petra has reached an agreement in principle with the bond holders — who will take a 91% stake in the enlarged equity of Petra in exchange for $400m of their bonds — and a consortium of SA banks. The debt deal, which is subject to a shareholder vote, is expected to be finalised early in 2021.
Specialty Jewelry - The Long Decline
06 november 2020
(idexonline.com) - Few jewelers have escaped unscathed from the coronavirus pandemic. When times are hard, as they unquestionably are now, the very rich can still afford their Argyle pinks and the very poor will still spend a few bucks on cheap and cheerful costume jewelry. But the sector that suffers most is the squeezed middle - or the US specialty stores that sell high-end watches and rings, necklaces, bracelets and earrings made of precious gems and metals. Not so many years ago, back in 1987, there were just over 30,000 specialty jewelry stores. Today there are just 18,353, according to the latest figures from the JBT (Jewelers Board of Trade).
Interview With WD Lab Grown CEO Sue Rechner
05 november 2020
(jckonline.com) - Sue Rechner (pictured), who became CEO of WD Lab Grown Diamonds last year, spoke with JCK on Thursday about the pair of announcements her company made this week: It’s hired new executives and entered into patent sublicenses with two lab-grown companies, including one it had previously sued for patent infringement. She also discussed the lab-grown diamond industry in general, where prices are going, and why she feels her company is different from other players in the market.
