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
Diamonds Are Forever … And Sales Are Headed Online
18 september 2020
(pymnts.com) - Carat, cut, color and clarity. They’re known as the “four Cs” of diamond evaluation – and soon, this most luxurious of luxury goods could be adding a new C: commerce. Well, eCommerce, to be more exact. Diamonds are starting to find a reliable online stage as the digital shift sweeps them into the new consumer channel of preference. “The internet has evolved the sales process quite a bit,” Jeff Becker, owner of new eCommerce entry D.NEA Diamonds, told PYMNTS. “There are now quite a few reputable online vendors of diamonds. The pricing is very aggressive compared to jewelry stores, due to lower overhead and broader reach. As consumers get more sophisticated and educated, they are becoming more comfortable buying based on specifications and photos online. This is putting pressure on some physical retail stores and driving the online folks to compete aggressively for a growing slice of the business.”
U.S. Shoppers Shell Out for Diamonds Instead of Trips and Meals
17 september 2020
(bloomberg.com) - Americans fortunate enough to keep their jobs through the pandemic may find that a lack of trips and eating out is leaving extra cash in their pockets. So many are turning to a tried-and-true big-ticket purchase: jewelry. Signet Jewelers Ltd., the owner of Jared and Kay, saw sales turn positive late in the last quarter and continue to climb in August. Tiffany & Co.’s global sales did, too. Macy’s Inc., which also owns Bloomingdale’s, identified diamond jewelry has one of the top product categories at both stores in the quarter ended Aug. 1.
Despite price cuts, De Beers is forecast for second half sales rebound of $1.6bn
16 september 2020
(miningmx.com) - De Beers would experience a rebound in fortunes for the second half of its financial year with sales reaching $1.6bn, according to analysts at Morgan Stanley. The second half performance, partly prompted by the approaching year-end season which is traditionally a period of heightened sales for De Beers, would also reverse a $500m cash outflow from the first half.
Why Lucara’s New Deal Might Change the Diamond Market
15 september 2020
(jckonline.com) - On July 15, Lucara Diamond, owner of the Karowe mine in Botswana, announced it had forged a “groundbreaking” deal with Antwerp Belgium’s HB Group. The deal calls for Lucara to sell all its “special” (more than 10.8 ct.) diamonds to HB through the end of the year. That’s a big deal for HB, as Karowe has unearthed a lot of very special specials, including the 1,109 ct. Lesedi La Rona. But it’s also a big deal for Lucara, which derives 70% of its income from larger stones. But the interesting thing is how this deal is structured. It calls for HB to initially pay Lucara an estimate of the diamond’s eventual polished price—determined through “state-of-the-art scanning and planning technology”—minus HB’s manufacturing costs and an unspecified commission, which it’s also called a “fee.” HB will pay Lucara that initial estimate within 60 days of receiving the stone—a rare instance of a diamond miner extending credit.
Tiffany Promises More Transparency For Diamonds Amid Greater Concern Over Social Responsibility
14 september 2020
(forbes.com) - Tiffany & Co. announced on August 18 it will share the full background of its newly sourced diamond rings, an industry first as it looks to attract customers who care about quality as well as social and environmental responsibility. As demand for lab-grown diamonds is on the rise, it is likely Tiffany and other jewelers want to assuage conflict diamond and sustainability concerns which have long plagued the diamond industry.
