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
Why diamond mining in Africa is a double-edged sword
14 february 2020
(spearswms.com) - When Botswana gained independence from Britain in 1966, it was one of the poorest countries on the planet. Per capita income was around $80 a year – just 15 per cent of the global average, according to World Bank figures. But the following year, the southern African nation’s fortunes began to transform. A vast diamond deposit was discovered in Orapa, a small town in the country’s Central District. It is now the largest diamond mine in the world. By 2018, Botswana’s GDP per capita had risen to $17,948. The country is now one of the wealthiest in sub-Saharan Africa. Elsewhere in Africa, the way the proceeds of the industry are used remains the subject of controversy. In 2003 the Kimberley Process Certification Scheme was established to prevent proceeds from diamonds being used to fund violence. Today, however, various groups argue that the scope of the process is too narrow, and that any sanctions are too easy to circumvent.
De Beers to Offer Lab Reports in the United States
13 february 2020
(jckonline.com) - De Beers Group Industry Services, the diamond giant’s grading lab, is entering the U.S. market for the first time through a new partnership with RDI, the Rochester, N.Y.–based diamond wholesaler. The De Beers reports will accompany all of RDI’s Rare and Forever branded diamonds. RDI will be, at least for now, the only U.S. company to offer the reports.
Alrosa Puts Lower-Value Mines on Hold
12 february 2020
(diamonds.net) - Alrosa has paused production at certain lower-value deposits as the diamond industry continues to face an inventory imbalance and external challenges, its CEO said. The Russian miner placed on care and maintenance select alluvial mines that contain diamonds priced at $50 to $60 per carat, Sergey Ivanov told members of the trade at the International Diamond Week in Israel on Monday.
Angola’s state diamond group seeks global partners to become a top 3 producer
12 february 2020
(ft.com) - Angola’s state diamond company is seeking international partners in an attempt to become a top-three world gem producer. José Manuel Ganga Junior, head of the Endiama group that controls diamond mining concessions in Angola, said it was looking for international investment and exploration as part of “radical change”, including plans for its own listing.
Grib Taps New Rough Source
11 february 2020
(diamonds.net) - Grib Diamonds has started buying rough in Angola, as a new company structure has enabled it to diversify beyond its one mine in Russia. The Antwerp-based company, which markets most of the Grib deposit’s diamonds, is looking to source goods from a broader range of locations.
