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.
Yesterday
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.
Yesterday
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...
Yesterday
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...
Yesterday
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...
14 october 2026
10 Questions with De Beers CEO Bruce Cleaver
01 june 2020
(nationaljeweler.com) - Late last month, leaders of the gem and jewelry industry in India called on their members to pause rough diamond imports for 30 days, starting today, as the world continues to grapple with COVID-19. Chaim Even-Zohar echoed those calls in a column published on IDEX April 22 in which the longtime industry analyst and journalist made the case for an even longer ban on rough imports in the world’s No. 1 cutting and polishing center. De Beers responded with an open letter from CEO Bruce Cleaver on May 1 that made clear the company’s position on a rough-diamond-buying ban while not expressly mentioning the Indian trade groups’ appeal. “We mine a valuable, finite and depleting resource,” Cleaver wrote in his letter. “We will only sell it when the demand is such that it can create sustainable value for all of us. However, just as we are not compelling our clients to purchase, we strongly believe it is counterproductive for any part of the industry to compel them not to purchase.” Last week, the De Beers boss sat down for a remote interview with National Jeweler to elaborate on the company’s position. He also talked about what consumers will expect from brands after COVID-19, marketing diamonds in a post-pandemic world, and why he thinks the U.S. will remain the No. 1 market for the stones despite the severity of the crisis here. This interview has been edited for length and clarity.
Lightbox Delays New Production Plant to 1Q 2021
29 may 2020
(diamonds.net) - Lightbox, De Beers’s lab-grown diamond jewelry brand, has delayed commissioning its new facility in Portland, Oregon, by a few months due to the COVID-19 pandemic.“The building itself and plant infrastructure [are] already complete, and we are now in a phase of installing and commissioning the deposition equipment,” Lightbox CEO Steve Coe said in an email to Rapaport News. “To ensure a safe working environment, we have had to slow down this commissioning process as we work in accordance with state and local guidelines…and believe these new working practices will delay the full ramp-up of the plant by no more than a few months.”
The global diamond market in free fall
28 may 2020
(operanewsapp.com) - The global diamond market has recorded a decline of about 50 percent since March this year compared to the same period in 2019, said Endiama Mining CEO Pedro Galiano.
Polished Diamond Prices Edge Down in April
28 may 2020
(edahngolan.com) - Conventional wisdom holds that trading in the diamond industry should have come to a complete stop in April. This is largely true, but there are some exceptions. Polished diamond trading has continued, though at a much reduced level. Prices naturally declined, down a low single digit. Month over month, polished diamond prices fell an estimated 1.7% in April. This is impressively steady compared to price changes during normal times. And much better than wheat (-4.7%), coffee (-11.9%), or oil (-7.2%). The worst of COVID-19 seems to be behind us. Stores around the world are starting to re-open, led by China and Hong Kong. Cautiously, consumers will return as well. Although unemployment is sky high, weddings will be held and bridal jewelry will be purchased.
Angola announces winners of diamond, phosphate mining concessions
27 may 2020
(macaubusiness.com) - The Angolan government announced on Friday that four national and foreign companies have been chosen to confer mining rights to prospect and exploit diamonds and phosphates, leaving out the only competitor for the iron concession. The evaluation committee decided to award the phosphate concessions to Minbos Resources, Lda, of Australian origin (Cátata, Cabinda) and Cimenfort Industrial, Lda, one of the major national cement production companies and with fertilizer production activities in Brazil (Lucunga, Zaire province). In the case of the diamond concessions, the winners were Ishangol LLC, of North American origin and present in Angola for the purchase and cutting of diamonds (Camafuca-Camazambo, Lunda Norte province) and the B&A Consortium (a company of Brazilian origin, with extensive experience in the diamond industry) and Somipa (an Angolan company already operating in diamonds) for the Tchitengo concession, which covers the provinces of Lunda Norte and Lunda Sul. The only competitor that showed interest in the iron concession did not reach the minimum required standard, according to the evaluation committee, so it will have to wait for a new tender.
