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
Geologists find lost fragment of ancient continent in Canada’s North
31 march 2020
(science.ubc.ca) - Sifting through diamond exploration samples from Baffin Island, Canadian scientists have identified a new remnant of the North Atlantic craton—an ancient part of Earth's continental crust. A chance discovery by geologists poring over diamond exploration samples has led to a major scientific payoff.
Message from Ronnie VanderLinden, President of International Diamond Manufacturers Association
30 march 2020
Dear IDMA Member and Industry Colleagues! Some of you may have seen this message before. But I was asked to post it, with some adaptations, once again. Our industry, along with the rest of the world, is in crisis mode. Words cannot describe the global impact of the COVID-19 pandemic. Amid the turmoil around us, our membership must stay informed, remain encouraged, and have confidence that this crisis will pass. Naturally, we all worry about our businesses. We were surprised and dismayed, at the very least, by the recent actions of the Rapaport Group (RG). It is once again claiming - if not preaching to this industry - that the RG , and the RG alone, knows what is in the best interests of the industry that collectively owns the billions of dollars of diamond inventory listed and traded on the RG's various industry platforms.
Diamond mines’ production, virus safeguards ongoing
27 march 2020
(nnsl.com) - The territory’s three diamond mines are implementing precautions to guard against the spread of COVID-19 but were still operating as usual in mid-March. De Beers, which runs the Gahcho Kue mine has started a rostering system at its Calgary operational support centre where half of its staff work in the office and half from home, said spokesperson Terry Kruger. Dominion Diamond Mines has implemented several safety measures while production is ongoing at its Ekati site. Non-essential work travel for employees is restricted and visitors to Ekati and the corporate offices are also restricted, a company spokesperson told NNSL Media. Safeguards related to Rio Tinto’s Diavik mine remain in place as the mine still functions at full capacity, a spokesperson said. The company has asked all employees to re-assess their need for travel and non-essential travel has been postponed in some regions.
De Beers proceeds with Sight Three
26 march 2020
(weekendpost.co.bw) - "As the situation around the world continues to evolve rapidly, we have been speaking with our customers to understand their requirements. While this is an extraordinary situation, our customers continue to express their desire for the Sight to proceed. We are therefore focused on standing with our customers, meeting their requirements and proceeding with Sight 3." This is the most functional paragraph in a De Beers release announcing that Sight 3 will proceed amid coronavirus fears. According to American business media outlet, Bloomberg, De Beers is currently struggling with how to conduct diamond sales because key customers are blocked from travelling, let alone entre Botswana. The next sight is scheduled to start on the 30th of March. “Our intention remains to hold the sight, in line with the desire for it to go ahead as expressed by customers, but we are developing a suite of contingency plans in the event that it is not possible to hold the sight in the usual manner,” De Beers told Bloomberg this week.
Ruin to Resurrection, the Perpetual Path
25 march 2020
(edahngolan.com) - The growing stream of bad news is threatening to engulf us like a depressing cloud of darkness blocking all light. We are facing widespread infections, rising death numbers, mandated quarantines, nose-diving stock markets, dropping global trade, and above all, deep concern for loved ones. The combination of health threats and economic decline are especially worrying. In some places, political uncertainty is adding another layer of bleakness. Under these circumstances, the easiest thing to do would be to write about how terrible things are right now, and how worse it will be going forward. That would easily reflect the general market sentiment and, after all, bad news is contagious too, as it reinforces our concerns. There are plenty “celebrating” the bad, so instead, I’ll explore a different angle, and back it up with facts and numbers.
