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
Argyle Pinks - The End of an Era
02 october 2020
(idexonline.com) - The end of an era is looming. The iconic Argyle mine, which has been selling 90 per cent of the world's pink diamonds since 1984, is expected to cease production in November. And so the supply of the world's rarest, most expensive and arguably most beautiful type of diamond will come to a virtual halt.
The last time such a desirable type of diamond was "discontinued" was way back in the 17th century, when India's Golconda mines, famed for the Koh-i-Noor and other diamonds of remarkable quality, whiteness and clarity, ceased production. It is an historic moment when something so desirable becomes unavailable, when demand remains high but supply drops to zero.
Diamond organisation launches new campaign with James Bond actress
01 october 2020
(jewellermagazine.com) - The Natural Diamond Council (NDC) – previously known as the Diamond Producers Association – has launched a new advertising campaign ‘For moments like no other’ with actress Ana de Armas, who will star in the upcoming James Bond film No Time To Die. The campaign, which will appear in the US, UK, Chinese and Indian markets, comprises a 30-second advertisement, a variety of shorter videos, a print media campaign, and digital advertising.
Tiffany-LVMH Deal May Be Saved, Say Analysts
30 september 2020
(nationaljeweler.com) - LVMH’s acquisition of Tiffany & Co. is on shaky ground after the French luxury titan announced Wednesday it would be backing out of its agreement to buy the American jeweler. Tiffany responded with a lawsuit to force LVMH to move ahead with the deal. In its official statement issued last week, LVMH cited closing date issues after Tiffany requested a second extension and, it said, the French government asked it to hold off until January 2021 because of proposed U.S. tariffs on French luxury goods. Tiffany countered that LVMH was looking for a way out of the $16.2 billion deal and breached the merger agreement by dragging its feet on securing the necessary regulatory clearances.
Stornoway shareholders invest C$ 30 mn in the Renard project
29 september 2020
The government of the Quebec province has provided a C$15 million loan to resume production at the Renard mine, the first diamond complex in the north of this Canadian region. Taking into account the allocated funds, the total amount of the state investments in the diamond project will be minimum C$225 mn.
Petra Diamonds says restructure may result “in significant level of equity dilution”
28 september 2020
(miningmx.com) - Petra Diamonds today raised the possibility of significant dilution for equity holders in order to climb out of the liquidity crisis engulfing the company. The UK-listed firm said in an update that a new capital structure may involve significant dilution to shareholders. A company spokesperson declined to comment further as discussions with shareholders were private.
