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
Russia Seeks to Lift Ban on ‘Blood Diamonds’ From African Ally
17 december 2019
(bloomberg.com) - Russia is proposing to move toward ending the ban on selling so-called blood diamonds from the Central African Republic, a former French colony that’s struck recent military and commercial ties with Moscow, amid resistance from the U.S. and Europe. The CAR, which is mired in civil conflict, should be granted a “road map” outlining the steps it needs to take to get the suspension of diamond sales lifted, Russian Deputy Finance Minister Alexei Moiseev said in an interview in Moscow.
Gujarat: Diamond merchants ditch credit, adopt ‘rokda’ system
16 december 2019
(timesofindia.indiatimes.com) - The glittering trade in diamonds no longer runs on trust or faith. The decades old practice of giving credit has come to an end as diamond merchants in the world’s largest diamond cutting and polishing centre in Surat have started insisting on ‘rokda’ (cash) and cheque system in trade of polished and rough diamonds at the Mahidharpura and Varachha diamond markets.
The Biggest Spenders This Holiday Season? Generation X
13 december 2019
() - While Generation X may have small numbers compared to baby boomers or millennials, the former “latchkey kids” will likely be the biggest spenders this holiday, according to the 2019 Holiday Purchase Intentions Survey from the NPD Group. NPD found that Gen Xers, who it defined as between the ages of 39 and 54, plan to spend an average of $817 this season, more than any other generation. They are also the most likely generation to buy clothing and accessories; some 68% plan do so. It also found that 51% of Gen Xers plan to shop mass merchants, and 77% will browse online retailers. Around one-fifth will start shopping on Black Friday.
Europe Adopts Customs Code to Differentiate Natural & Synthetic Diamonds
12 december 2019
(thediamondloupe.com) - The European Commission has adopted a new customs code to differentiate between natural and synthetic diamonds. In a communication to the members of the national associations of the European Federation of Jewellery (EFJ) and to public authorities, the association applauded the pending entry into force of the new European customs code for synthetic diamonds. This code, introduced in the European combined nomenclature (Chapter 71), will enter into force as from January 1, 2020. It will be applied until January 1, 2022, when the HS6 customs code, which was recently adopted by the World Customs Organisation (WCO), will be applied at the European level.
How Will Chinese Luxury Shoppers React to Price Increases?
11 december 2019
(jingdaily.com) - It’s no secret that luxury brands have not had it easy in the Greater China market this year — for myriad reasons — but, surprisingly, this has not necessarily translated to a major slowdown in that crucial market. Despite a dragging U.S.-China trade war, a Hong Kong luxury market that remains effectively on ice, and this summer’s yuan devaluation, mainland Chinese consumers continue to shop for luxury both at domestic stores and online.
