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
Rapaport May Suspend Price List Amid New Furor
24 march 2020
(jckonline.com) - Steep diamond price drops on the March 20 Rapaport Price List has caused widespread anger in the trade—and publisher Martin Rapaport (pictured) is now asking members to vote on whether to suspend its publication until May. Last Thursday’s price list was a “sea of bold”—its method of indicating a price change. The price cuts hit almost every diamond category, with the drops ranging from 5% to 9% on both rounds and fancies. The average drop was generally estimated at about 7%. In a statement released Friday, Rapaport said that while he understands why the trade dislikes the decreases, they reflect the current market.
Botswana’s economy catches flu from corona heavily hit markets
24 march 2020
Ever since the spread of the virus intensified in February, global financial markets have been on fluctuating plummet and surge, responding to various business and investor sentiments. In Africa the virus has hit the continent‘s largest economies, including Botswana‘s neighbour and the country’s largest trading partner, South Africa, the region’s most industrialised economy. Whereas the virus has not arrived in Botswana, with only suspected cases at play, the country is already catching flu from the fast spreading pandemic in the areas of trade and business. Two of the Botswana‘s largest economic sectors and biggest industries by both contribution to GDP and foreign exchange earnings are feeling the pinch.
Exploration and diamond discovery potential in Pomorye
23 march 2020
This year, the Geological Division of AGD DIAMONDS JSC continues to search for new diamond deposits in the licence blocks around the Grib Mining and Processing Division area. In 2019, large-scale exploration was launched in the areas next to the Grib diamond field. The first stage of this project included a comprehensive airborne geophysical study to identify kimberlite-type anomalies promising for detecting kimberlite bodies. Based on the results, a number of areas were identified for verification drilling. At this stage, the company pinpointed several locations for first exploratory boreholes and laid a winter road to provide a forest-free access to the drilling sites.
Changes to Rapaport Price List
23 march 2020
Our heart goes out to the diamond community during these difficult times. We understand that the reduction of prices in the Rapaport Price List on March 20 is upsetting. The trade is invited to contact me directly at email prices@diamonds.net. We are reading and sensitive to all communications. It is vital that the Rapaport Price List reflect the realities of the market even when such realities are not pleasant or welcome. We cannot protect the market from price changes and must maintain the credibility of our price information. It is important to note that the Rapaport Price List is used by buyers and not just sellers. Buyers require and expect Rapaport to reflect the lower price realities of the market. We cannot misrepresent prices for the benefit of sellers and we must not mislead buyers. Many buyers wait for Rapaport to lower prices before buying. They want to be sure that they are trading at the correct price levels. If we do not lower prices on-time we are discouraging buying activity.
Industry alarmed at Raplist decision to drop price list by 5-8%; companies remove stocks from RapNet
20 march 2020
(diamondworld.net) - While the industry at large is trying to combat a global crisis, Raplist, the industry’s only diamond trading platform has decided to drop its price list by 5-8% for no rhyme or reason. Industry sources say that RapNet held an estate auction from 16-19 March and made profits knowing very well that it will drop its price list the next day and stakeholders are deeming this move by Rapaport unethical. On 10th March, members of RapNet also received a message from Martin Rapaport on how such challenging times should be turned into opportunities and another letter was sent on the 19th stating that it would be doing everything in its power to create liquidity at fair market prices given the scenario. However, the decision to drop price list is absolutely contradictory to both letters.
