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
Gold Price Crashes the $1,700 Barrier
28 april 2020
(jckonline.com) - The spot prize of gold crossed the $1,700 barrier on Wednesday [April 15, 2020], and it’s now trading at its highest level in seven years. This is the second time this month that gold has crossed the $1,700 benchmark. Overall, the gold price has risen about 15% this year, and some analysts think that it will soon hit $1,800. That would be within view of its all-time record spot price of $1,923.70, which it hit in September 2011.
A Look at Rough Diamond Prices in the Midst of the Covid Crisis
27 april 2020
(paulzimnisky.com) - Much of the diamond supply chain has been virtually suspended since boarder closures and travel restrictions globally were implemented in the last two weeks of March in response to the Covid pandemic. The diamond manufacturing hub in India was officially closed on March 24 and most retail outlets that sell diamonds and jewelry throughout the world, excluding China, were mandated to shut doors in mid-to-late March. While some rough diamond trading has taken place in recent weeks, the relative volume of transactions has been minimal due the aforementioned travel restrictions, and ultimately a lack of downstream demand as closed jewelers have no need to replenish inventory. Typically, in a crisis-environment diamond trading liquidity dries up, however at the moment the circumstances are especially severe due to the unique nature of an acute concurrent demand and supply shock.
As Inflation Eases, What Will Make Chinese Consumers Spend More?
24 april 2020
(jingdaily.com) - China’s consumer goods inflation measure known as the consumer price index (CPI) went down over March with a 4.3-percent increase. This was a significant drop from its 5.2-percent rise over February, according to a Friday release from the National Bureau of Statistics. As more work in the country has resumed and travel and logistics begin to recover, product prices have started stabilizing, explained Dong Lijuan, a senior analyst at the bureau, in a statement. In the category of apparel, the price of clothing, shoes, and apparel manufacturing costs had little fluctuation from the previous month. However, when compared to the same time last year, the price of clothing and shoes were 0.2 and 0.8 percent lower, and apparel manufacturing costs went up by 2.4 percent, explaining why demand had been sluggish, and production prices were higher than usual.
India's Rough Choice: An Import Moratorium?
23 april 2020
(idexonline.com) - Stuart Brown, the ex-joint managing director of De Beers, and current CEO of Canadian miner Mountain Province Diamonds, made an amazing statement in a Financial Times article, stating the very obvious: "We need India to open up. Until the manufacturing opens up there, there will be no demand for rough diamonds." It seems as if miners have suddenly realized that they need India far more than India needs them. And if it doesn't? Then producers may literally choke on their diamonds. The government of India can assist the industry in a tremendous manner if, after the corona lockdown has been rescinded, it simply puts a three-month moratorium on rough diamond imports. Whether the moratorium would be for two, three or four months is something it could discuss with the industry. It certainly depends on how long it takes for the diamond market not just to stabilize, but also to pick up.
Ernie Blom Steps Aside as President of WFDB
22 april 2020
(jckonline.com) - Ernest “Ernie” Blom (pictured), who has served as president of the World Federation of Diamond Bourses for the last eight years, has temporarily resigned from the post. Yoram Dvash, the president of the Israel Diamond Exchange and a member of the group’s executive committee, was elected as the global group’s acting president during a Zoom meeting with the WFDB’s executive committee.
