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
No Room For Snobbery
07 august 2020
(idexonline.com) - Are you a diamond snob? I'm not asking whether you want them bigger, brighter and beautifuller. I'm asking a different question. I'm asking how you feel when you hear about precious stones being exploited far beyond the traditional world of jewelry? Two stories caught my interest in recent days. The was first was about a US rapper called Gucci Mane having porcelain veneers fitted to his teeth, encrusted with $250,000 of diamonds. The second was about an Australian goldsmith called Colin Burn, who created a chess set worth $4m out of diamonds, pearls and sapphires. You're either nodding your head in approval, or shaking it despair at this point. Diamonds thrive on the position they achieved back in the days of Cecil Rhodes, and which they've sustained until now. Wince if you want to when you see them plastered onto a gadget or fashion accessory, but remember they're fighting the PR battle for you. So there's no room for snobbery.
Diamond Foundry: S&P Global Diamond Mining Impact Study is Misleading Millions of Consumers
06 august 2020
(prnewswire.com) - An S&P Global "TruCost" study, paid for by the Natural Diamond Council, the association of diamond miners, used misleading data and math in a study meant to cast aspersions on the environmental benefits of man-made diamonds, according to Diamond Foundry. Diamond Foundry reviewed the study and found numerous egregious errors.
Junior diamond miners can again be catalysts for mining sector growth, says Sadpo
05 august 2020
(miningweekly.com) - South Africa lacks a healthy junior exploration and mining sector, when it could be a catalyst for growth and transformation in the sector, says the South African Diamond Producers Organisation (Sadpo). For example, the discovery of alluvial diamonds in the unique secondary deposits of the Middle Orange River downstream of Hopetown in 1867 was the catalyst that initiated the development of the mining industry in Southern Africa.
Sadpo representative Lyndon De Meillon says that, compared with the junior diamond mining sector’s heyday between 1990 and early 2000s, today’s sector is a shadow of its past. “In 2000, prior to South Africa’s changes to mineral policy ownership and regulation, and introduction of new ownership requirements, this key industry supported about 2 000 small and medium-sized private and listed operators.”
Arctic Star Exploration plans to resume work, increase stake in NWT diamond project
04 august 2020
() - The idled but promising Diagras project should see new activity as one joint venture partner takes over operations from the other. New manager Arctic Star Exploration TSXV:ADD, which holds the minority portion of the 60/40 JV, announced a proposed $1.6-million budget over the next 12 months to drill the Diagras property next spring. JV partner Margaret Lake Diamonds TSXV:DIA “has elected not to participate in this program and, in doing so, will dilute once the program completes and expenditures are met,” Arctic Star stated.
De Beers looks to restructure as diamond sales plummet
03 august 2020
(thenational.ae) - De Beers is considering ways to restructure mines, expand in jewellery and overhaul diamond sales, as the world’s biggest and oldest producer rethinks its entire business in an industry left paralysed by the pandemic. The company founded by British imperialist Cecil Rhodes in the late 1800s was under pressure even before the coronavirus to reform. While De Beers boasts one of the world’s most powerful luxury brands, it remains tied to traditions that in some cases have barely changed for decades. Chief executive Bruce Cleaver began a modernisation process after taking over in 2016, and those efforts will be expanded and accelerated.
