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
A Crucial Moment for Artisanal Miners
12 august 2020
(diamonds.net) - The question of how to tackle the hardships facing informal diamond miners is as pressing today as it was when it first arose nearly 20 years ago.
It was first touted as an issue that perhaps the Kimberley Process (KP) could incorporate into its mission. But the KP was not equipped — or mandated — to meet the challenge, even if the sector represented an Achilles heel for a body tasked with facilitating the cross-border trade of responsibly sourced rough. Instead, the Diamond Development Initiative (DDI) formed, taking a developmental approach to advancing artisanal miners. Since its inception, the DDI’s goal has been to create an infrastructure that allows these miners to sell their diamonds through legitimate means, get a fair price for them, and make a sustainable living.
Antwerp Trading Halls Shut for Second Time
12 august 2020
(diamonds.net) - The Federation of Belgian Diamond Bourses has closed all four of Antwerp’s trading floors following a spike in coronavirus cases in the city. The national government tightened social-distancing rules on Monday, July 27 to prevent a repeat of the full lockdown it instituted during the first virus wave. The province of Antwerp is responsible for more than half of the country’s new infections, and is now under home curfew between 11:30 p.m. and 6 a.m., local media reported.
EC refuses to regulate the sale of synthetic diamonds
11 august 2020
It is known that it is impossible to distinguish a natural diamond from a lab-grown one with the naked eye. Is the legislation adopted at the European Union level required to prevent a potential confusion between the two types of these precious stones? The diamond industry sees this as an urgent need, but the lobby has not succeeded in getting the European Commission to understand this.
India Urges ‘Self-Discipline’ from Rough Buyers
10 august 2020
(diamonds.net) - Indian industry leaders have renewed their calls for limits on rough imports during the Covid-19 crisis, noting that diamond demand remains uncertain. The Gem & Jewellery Export Promotion Council (GJEPC) and four other trade bodies have told members to “maintain self-discipline” and only to buy rough in line with current demand. They also urged them to “exercise great caution” and to continue reducing their inventories and debts.
Alrosa Nearing Inventory Deal with Govt.
07 august 2020
(diamonds.net) - Alrosa expects to finalize a sale of rough to Gokhran in the next two months, aiming to reduce its stockpiles while ensuring the diamond industry doesn’t receive a flood of goods. Gokhran — Russia’s state gem and precious-metal depository — will store the diamonds until the market stabilizes, Alrosa deputy CEO Evgeny Agureev said Monday. The parties are currently negotiating the sale terms. “It will be very important for our industry, because [it] will also provide the confidence to [the] midstream that [excesses of diamond stocks will be] limited,” the executive told Rapaport News. “The government will not try to sell these goods in [the] short term.” Gokhran often buys from Alrosa to help it during downturns, mostly notably in 2009, when it purchased an estimated $1 billion worth of inventory. Last year, the governor of Yakutia, which owns Alrosa shares, proposed that the miner sell $500 million to $1 billion of goods to the state. The current talks are about a transaction in that range, Agureev confirmed.
