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
The New Reality Of Diamonds
26 june 2020
(forbes.com) - The $80-billion global diamond industry has been a tradition-bound business reluctant to change until recently. The advent of e-commerce and price transparency and the introduction of new products such as lab-grown diamonds are helping to transform the industry. The diamond industry’s business structure, which had worked well for mining companies, intermediaries, wholesalers and retailers, was bound to be disrupted. E-commerce was the first body blow to the status quo, as more and more consumers, especially younger ones, began buying diamonds online. Today, millennials and Gen Z customers make up the bulk of online sales, driving revenue on new e-commerce jewelry platforms.
Tug at Consumer Heartstrings This Holiday, Survey Says
25 june 2020
(jckonline.com) - As Americans cope with the ongoing toll of COVID-19, jewelers should focus on holiday marketing that resonates emotionally, De Beers said, after it surveyed U.S. consumers on how the pandemic has affected their holiday buying plans. According to Stephen Lussier, De Beers executive vice president, consumer and brands, his company has found a consistent pattern during and after recessions—self-purchase and fashion jewelry sales wane, while sales commemorating engagements, weddings, and other personal milestones gain market share. But even though the current situation is very different from past downturns—given there’s also a global pandemic involved—its market research has found that pattern is likely to hold.
The Market for Crystals Is Outshining Diamonds in the Covid Era
24 june 2020
(bloomberg.com) - I did not intend to become interested in crystals. It happened, as these things often do, during a long drive through the desert. A chance pass through Quartzite, Ariz., piqued my interest. It corresponded with an annual crystal show where thousands of “rock hounds” convene in the aptly named outpost to sell glittering pillars of rose quartz, regal amethysts, and malachite as swirled and green as the back of an ancient gilded turtle. The RVs and tents parked alongside the highway, Burning Man style, demanded investigation. I soon found myself haggling over the price of golden-colored citrine with a bolero-wearing man named Brian. Later I forked over a few bucks for a rotund couple of break-at-home geodes (dinosaur eggs, I called them as a child) that came with an oversize nutcracker that looked like it came from a construction site circa 1976. Turns out, I am late to develop an appetite for “near-gemstones,” as diamond dealers call this $1 billion-plus industry. Virtually every Los Angeles-based celebrity you’ve heard of keeps them. Today, the crystal-collecting set goes beyond the type of people who shop at health-food stores or practice reiki. The Astro Gallery of Gems on Fifth Avenue in New York attracts famous clients with its $30,000 pieces of barite and six-figure specimens of mesolite. Sotheby’s and Christie’s sell them for tens of thousands of dollars alongside meteorites and fossils. Mardani Fine Minerals reports annual gross sales of $25 million to $40 million, with profit margins varying from 20% to 70%. The market was strong before Covid-19 and remains unaffected. The coronavirus pandemic is expected to dent the $76 billion diamond industry (as of 2018) by 20% this year, but the value of near-gemstones such as quartz, amethyst, citrine, and malachite is holding steady.
Ethical Jewels with a Conscience
23 june 2020
(prestigeonline.com) - The jewellery industry has battled with supply-chain and ethical mining and production issues for decades. But many leading luxury brands have responded with increased transparency and clear ethical and environmental practices, as consumer sentiment demanded clearly conflict-free stones and strong brand values. True transparency, however, is a difficult undertaking in this globalised industry.
The Masters of the Diamond World Are Losing Control
22 june 2020
(ca.finance.yahoo.com) - For decades, shopping for uncut diamonds was a tightly scripted affair: First, persuade De Beers to add you to its list of handpicked customers. Then, 10 times a year, attend a week-long sale to buy exactly the amount De Beers offers you at whatever price it chooses. The system, which works more or less the same at Russian rival Alrosa PJSC, gave the two miners a tight grip on their market. With the coronavirus wreaking havoc through the industry, that control is now disintegrating.
