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
De Beers Outlines Vision for New Diamond Market
13 november 2019
(jckonline.com) - At a forum in New York City on October 28, 2019, De Beers executives spelled out their vision for the diamond industry of the future, one that is more responsive to changing societal mores and consumer desires. The presentation was built around the release of De Beers’ latest Diamond Insight Report, which included new research about how younger consumers view love and marriage.
It's Been a Terrible Week for Diamond Miners
12 november 2019
(bloomberg.com) - While the world’s biggest diamond miner surprised the market by cutting prices last week, a slew of filings from its smaller rivals show the move was inevitable. While De Beers is a price maker in the supply of rough diamonds, dictating what its customers pay, most other miners are price takers. Gem Diamonds Ltd. and Lucara Diamond Corp. -- both known for digging up the most-expensive stones -- and Mountain Province Diamonds Inc. all reported lower prices last week. Much of the industry’s current problems have focused on tumbling prices for cheaper, smaller goods, the sort of diamonds that end up in a Walmart ring, but the recent results show even the crown jewels are also feeling the pinch.
WDC to champion the need for positive change at Plenary Meeting in New Delhi, which will be a watershed moment in the Kimberley Process
11 november 2019
(worlddiamondcouncil.org) - These are whirlwind days for those involved in the buildup to the Kimberley Process (KP) Plenary Meeting in New Delhi, India, which will open on November 18 and conclude November 22. With a range of critical issues as yet unsettled, participants are sharing and promoting last-minute positions, during bilateral meetings in different parts of the world and at a number of strategically scheduled conferences, attended by many of the key players. The final minutes are on the clock for the KP’s three-year review and reform cycle, which began in 2016 and will end at the Plenary Meeting under the chairmanship of India. Some tough discussions will still be had, as difficult decisions need to be made – none more so than whether the scope of the Kimberley Process Certification Scheme will be strengthened. At the heart of the debate is the definition of what constitutes a “conflict diamond.”
Petra shares languish as diamond price malaise eclipses self-help measures
08 november 2019
(miningmx.com) - Shares in Petra Diamonds were under the pump again today as the UK-listed firm’s efforts to rein-in costs and sustained first quarter production were eclipsed by an as yet unrelenting slump in diamond prices. The company is now capitalised at £66.85m ($86.8m) which compares to net debt of $593m, having edged up slightly as of September 30. The shares were last trading at some 750 pence/share, a decline of 7.8% and taking losses on a 12-month basis to 80.5%. The company traded at an all-time low earlier last month.
Botswana wary of weak diamond sales amid tight budget
07 november 2019
(southerntimesafrica.com) - Botswana is concerned about weak diamond sales which the Southern African nation says pose a risk to its mineral revenue and the 2020/21 national budget. This was revealed in the country’s budget strategic paper discussed by a high-level delegation comprising representatives from government and the private sector in the capital Gaborone in early October.
