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
Are Chinese Consumers Moving from Spending to Saving?
26 november 2019
(jingdaily.com) - China is facing slowing economic growth, and the continued trade war with the U.S. has created a potentially tricky situation where consumer prices could shoot up while businesses’ profit margins decline. As challenges mount, the government has implemented stimulus measures (tax cuts, loans, etc.) to help increase spending, but Chinese citizens are instead becoming frugal, moving farther and farther away from the extravagant spending of years past. And while the luxury industry has recently become dependent on China’s younger, label-obsessed consumers, the high-end segment remains vulnerable to changes coming from Beijing.
Debswana to remain focused on diamond mining for now
25 november 2019
(weekendpost.co.bw) - Leading rough diamonds producer Debswana, a joint venture between Government of Botswana and De Beers Group, will in the near term to midterm remain focused on solely doing the business of mining diamonds. This was emphasized by De Beers Group Chief Executive Officer and Debswana Board Chair Mr. Bruce Cleaver and Permanent Secretary in the Ministry of Mineral Mmetla Masire at a media briefing on the sidelines of the 2019 Diamond Conference in Gaborone on November 5, 2019.
Diamond Wars; And The Winner Is Not Natural!
22 november 2019
(forbes.com) - It’s getting harder by the day to believe that synthetic diamonds are not damaging the market for natural gems despite evidence that the diamond leader, De Beers, might have kicked a very expensive own goal. The latest clue pointing to trouble in the market for natural (or mined) diamonds came recently in a Forbes story which reported a plan to sell laboratory-grown diamonds in Bloomingdale’s and Reeds Jewelers. While there is not much new about synthetic diamonds what is significant about the Bloomingdale’s and Reeds plan is that it is being promoted by De Beers via its lab-grown diamond business Lightbox. Until now Lightbox diamonds, and the man-made material can be called diamonds, have only been available via its website or pop-up promotions.
Europe-led global certification scheme for raw materials expected in 2020
21 november 2019
(mining.com) - A group of European bodies and companies have joined efforts to create the first global certification scheme ensuring consistent standards of environmental, social and economic impact throughout the entire raw materials value chain, to be launched next year. CERA (CErtification of RAw Materials), conceived in 2015 by German engineering and consulting firm DMT Group, counts with the support of the UN Economic Commission for Europe, the European Commission’s Joint Research Centre (JRC), EIT RawMaterials, Volkswagen, Fairphone and research institutions from across Europe. Companies are under pressure from consumers and investors to prove that minerals are sourced without human rights abuses but tracking raw materials throughout their journey is challenging.
As Chinese Preferences Shift, A Wakeup Call Awaits Luxury Brands
20 november 2019
(jingdaily.com) - The Wall Street Journal recently published an article by Julie Wernau on how dramatically Chinese preferences are shifting from Western brands to Chinese brands. Look at smartphone sales, where foreign brand shares have dropped by 78 percent in ten years. In China, Apple only has a market share of 8.6 percent, ranking fifth behind Huawei, Oppo, Vivo, and Xiaoimi — brands most Westerners have never heard of. Other categories aren’t dropping as radically, but the share of foreign cars has dropped by 13 percent during that span, and the share of watches by 6 percent. It’s a trend that should concern all Western companies.
