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
Synthetics vs. Natural: The Battle over Value
19 november 2019
(diamonds.net) - In a jam-packed program, the Dubai Diamond Conference set the stage well for its main bout: finally, a match-up between the lab-grown and mined diamond producers. At its core, the debate among panelists in the discussion titled “Market Disruption — the Advent of Lab-Grown Diamonds,” boiled down to one fundamental question: What makes a diamond valuable?
WFDB President Urges KP Plenary to Ensure Pro-Active Role for Proposed Permanent Secretariat
18 november 2019
(wfdb.com) - World Federation of Diamond Bourses President Ernie Blom has appealed to government representatives attending this week’s Kimberley Process Plenary session in New Delhi, India, to ensure that the new KP Permanent Secretariat that is being set up is given a pro-active role, particularly in facilitating the process of rehabilitation of countries that had previously been found to be non-compliant.
Hong Kong protests not all that dazzling for India's jewellery industry
15 november 2019
(business-standard.com) - Pro-democracy protests in Hong Kong have upset the plans of India’s gem & jewellery industry, which exports a third of its diamonds to the Chinese-controlled city. Exports had already fallen by 15.5 per cent to $4.9 billion in the first half of 2019 and the months-long unrest has proved another headache for an industry already suffering because of domestic issues like delay in goods and services tax (GST) refunds, scarce working capital and the US-China trade war.
Trans Hex calls its quits on West Coast Resources as diamond prices slump a third
15 november 2019
(miningmx.com) - Trans Hex is to put its unprofitable West Coast Resources (WCR) into liquidation following a one third decline in diamond prices this year, said BusinessLive. Citing an announcement to the Johannesburg Stock Exchange on October 18, BusinessLive said Trans Hex had applied to the High Court in Cape Town to wind up WCR. It had previously failed to sell the business or to get a third party to run it. Shares in Trans Hex were 70% down in the past five years.
Tiffany asks LVMH to raise its $14.5 billion offer: sources
14 november 2019
(reuters.com) - Tiffany & Co (TIF.N) has asked Bulgari owner LVMH (LVMH.PA) to raise its $14.5 billion acquisition offer, arguing that it significantly undervalues the U.S. jewelry chain, people familiar with the matter said in early November. Tiffany’s board decided that LVMH’s $120-per-share, all-cash bid was too low to become the basis for negotiations, the sources said. Tiffany informed LVMH it could open its books and provide confidential due diligence if the French luxury group sweetens its offer, the sources added. LVMH remains engaged and is considering a new offer, according to the sources. The exact numbers being discussed could not be learned. Sources have previously said Tiffany’s board saw a price level of $140 per share, which its shares reached last year, as key to reaching a deal.
