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
Rough Market Faces Its Toughest Year Yet
13 may 2020
(diamonds.net) - As the diamond market considers its options during the industry-wide lockdown, manufacturers in India are planning a freeze on rough imports. The move has precedent. Back in 2008, as financial markets collapsed, India imposed a one-month moratorium on rough buying. Ultimately, it helped the local trade realign inventory and gain market share while other manufacturing and trading centers tried to continue with business as usual. In a letter signed by various Indian trade bodies, the Gem & Jewellery Export Promotion Council (GJEPC) has called on all members to curtail rough imports for at least 30 days beginning on May 15. That would send a message to the banks that the industry was being careful not to raise its debt levels, and would also ease the financial strain placed on companies. All of this would lead to a “faster restoration of normalcy,” the letter read. With no rough coming in, manufacturers can focus on depleting existing inflated polished inventory, particularly since demand from China and Hong Kong is slowly starting to resurface. In the meantime, they are hoping to resume some polishing activity; manufacturers have a sufficient buildup of rough that they bought from December through March to fuel their factories.
Diamond mines exempt from coronavirus travel restrictions due to economic importance
12 may 2020
(cbc.ca) - A glaring exception to travel restrictions placed on those entering the Northwest Territories during the COVID-19 pandemic is the one made for workers at the territory's three diamond mines. At the mines, people from the N.W.T. work alongside those from provinces where there have been far more confirmed cases of the highly contagious respiratory disease. None of the workers from outside the N.W.T. are required to self-isolate for two weeks like most others arriving in the territory. In an email, the territories' chief public health officer said the mines are allowed to continue operating because of the huge role they play in the N.W.T.'s economy.
Technology vs monopoly. Market overview of lab-grown gem-quality diamonds. Part 1. Upstream*
11 may 2020
(njt.ru) - The world is changing. In most cases, new technologies become drivers of change. They enter the territory of eternal values and change established traditions. And today we are witnessing an interesting phenomenon - the diamond market is entering its new era, where diamonds created in the laboratory are a reality. Specially for readers of the Navigator for Jewellery Trade Magazine, the experts of Ultra C have prepared a market overview of gem-quality lab-grown diamonds. The first part is devoted to existing technologies and equipment for diamond synthesis, production capacities, as well as production profitability. Thanks to this and the following materials, you will get an idea about the new product, which means you can appreciate its strengths and weaknesses, which will help successful sales in the future.
Survival of the biggest: Coronavirus transforms retail
08 may 2020
(axios.com) - The titans of the retail industry — Amazon, Walmart, Target and Costco — are poised to come out of the coronavirus crisis even stronger and more formidable than they were before, as smaller rivals suffer and wither. Why it matters: The pandemic will permanently reshape America's retail landscape — accelerating a winner-take-all race that started taking shape before stores were forced to close. What's happening: With piles of cash, extensive delivery networks and massive physical footprints to navigate the pandemic, America’s biggest retailers are raking in sales.
Impact of COVID-19 may ring in changes for diamond industry back in the doldrums
07 may 2020
(miningmx.com) - In a world boiled down to ‘essentials’, it’s easy to see why the anguished cries of celebrities “trapped” in their multi-million dollar holiday homes has become faintly risible, deeply contemptible at worst. So, too, the need to indulge in luxuries. Even were your local jewellery store open for business, it would seem somewhat off-message to be paddling down there to participate in a bit of high-end retail therapy. That’s why the world’s diamond sector is back where it started 2019: in the doldrums.
