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
Company insolvencies tipped to spike as firms face “different landscape”
19 august 2020
(professionaljeweller.com) - Corporate insolvencies dropped to their lowest point in four years during the second quarter – but experts have warned that it is looking like the calm before the storm. 274 companies in the UK entered administration in the second quarter of 2020, representing a 28% reduction on Q1, according to analysis by KPMG. The quarter was almost entirely a period of lockdown, with government measures having a dramatic impact as consumer spending plummeted.
Diamond sector could take two years to recover unless De Beers can stage rescue act
18 august 2020
(miningmx.com) - The diamond market is in a serious hole from which it could take the best part of two years to emerge, according to Goldman Sachs analyst, Jack O’Brien. According to O’Brien, however, the mid-stream market of cutters and polishers has collapsed in India owing to lack of credit leaving behind significant stockpiles. Alrosa, the large Russian diamond producer, expects to end this year with some 30 million carats of diamonds in inventory, roughly the same as a year’s production. De Beers, in which Anglo American has an 85% stake, barely made any contribution to earnings in the group’s current financial year.
Alexey Dyachkovsky: The market simply won't ‘digest’ the same amount of diamonds it used to consume earlier
17 august 2020
“The entire global diamond industry is now greatly affected. And we also have to make decisions to keep the company. We are working for the future, because some day, this crisis will end. ALROSA should emerge from it with the least losses, while maintaining its competitiveness,” said Aleksey Dyachkovsky, Deputy CEO for Social Policy, ALROSA, in his interview to taigapost.ru.
De Beers Turns to Tech as Layoffs Loom
14 august 2020
(diamonds.net) - De Beers is no stranger to changing strategy. Throughout its 130-plus-year history, the company has often adjusted its approach, sometimes with just a few tweaks, and on other occasions with radical consequences for the diamond market. Its next incarnation implements a bit of both as the company aims to emerge from the Covid-19 crisis a sleeker, more flexible and more tech-savvy organization that it hopes will increase the efficiency of the diamond supply chain.
Pentadiamond: more strong than natural diamond
13 august 2020
Diamond is strongly associated with eternal values being the hardest of all substances found in nature, but the new material, also composed of carbon atoms, may well outperform the king of minerals. The researchers from the University of Tsukuba, Japan, have created a configuration of carbon atoms through computer simulations that makes it as hard as diamond, but a stronger and lighter substance, l-express.ca reported.
