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
Don’t Ban Rough Buying, De Beers Urges
06 may 2020
(diamonds.net) - De Beers CEO Bruce Cleaver has called on the trade to allow rough purchases, assuring manufacturers the company won’t require them to buy in the weak market. “We will only sell [rough] when the demand is such that it can create sustainable value for all of us,” the executive wrote in a blog post Friday. “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.” Cleaver’s plea comes after the Gem & Jewellery Export Promotion Council (GJEPC) and other Indian trade organizations called on the nation’s diamond sector to pause rough-diamond imports for 30 days, beginning on May 15. The move would improve the Indian industry’s liquidity situation and deplete inflated polished inventories, the trade bodies explained. Without explicitly referencing the Indian trade groups’ appeal to their members, Cleaver argued that supply had already been significantly reduced after De Beers suspended production at most of its mines.
On Rivers and Dams/Bans
06 may 2020
(thediamondloupe.com) - Can't an overflowing river upstream, cause a lot of damage, from the midstream all the way up to the delta?
A River Runs Through It
05 may 2020
(debeersgroup.com) - Perhaps it is a result of the global lockdowns, but as I, like you, have worked to manage through the immediate crisis and plot the course forward, I have found myself longing for one of my favourite places – Botswana’s Okavango Delta. The Delta is a place of unparalleled natural beauty, a source of life and renewal for the world and a welcome reminder for me of better days ahead. In the diamond industry we often use the language of the river: upstream, midstream and downstream. When the industry is working well, we focus on the relative health of each part of the river, build partnerships across it and navigate the periodic droughts and flash floods, but we always seek a strong current that carries diamonds through the value chain, downstream. Today, however, we are faced with a challenge not to one part of the river, but to the entire river. When this crisis ultimately recedes, as it will, if the upstream is intact but there is no functioning downstream, or a midstream but a significantly depleted source upstream, then we have no functioning river system at all. While all companies, including ours, are taking rapid action to brace for the crisis, that action must be responsible and sustainable and recognise that just as the challenge is a shared one, so, too, must be the solutions. For De Beers’ part, we have already significantly reduced the flow of diamonds downstream. Most of our mines suspended production to prepare for the virus and are now operating or preparing to operate at far lower levels than normal. We mine a valuable, finite and depleting resource. 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.
How China’s Jewelry Business Changed After the COVID-19 Lockdown
30 april 2020
(jckonline.com) - At the end of March, when most of the world was going into coronavirus lockdown, China was slowly emerging from it. On March 19, the Chinese government announced that the number of new domestic COVID-19 cases had fallen to zero, and it began to lift the social-distancing restrictions that had been imposed on most of the country for more than a month. Though some worry China could still be hit by a second wave—or doubt the virus has been truly conquered—at the moment, the country seems to be stirring back to life.
Swiss Dis: Rolex, Patek, Chanel, Chopard Bolt From Baselworld
29 april 2020
(jckonline.com) - On Tuesday [April 14,2020], Rolex, Patek Philippe, Chanel, Chopard, and Rolex sister brand Tudor announced they are leaving Baselworld to create a new watch trade show in conjunction with the Swiss trade group the Fondation de la Haute Horlogerie (FHH). Rolex took the lead in organizing the new show, which will be held in early April 2021 at Palexpo in Geneva (pictured), at the same time as Watches & Wonders, the rebranded SIHH fair. The statement announcing the show did not specify dates for the new show or even a name. It’s also unclear if the new show will feature gems and jewelry—as Baselworld has—or if other big watch groups, such as LVMH and Swatch, will join the new coalition. The release said it’s possible that other watch brands may be added to the event, and that the new show “will be geared predominantly towards retailers, the press and VIP customers.”
