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
Lab-Grown Diamonds Get Ready for Their Eco Close-Up
23 october 2019
(jckonline.com) - Six lab-grown diamond companies and retailers have signed up for a pilot program that will audit their environmental, social, and governance performance against preset criteria. If they pass, their diamonds will be certified by SCS Global Services as sustainably grown, though it’s possible that label will change.
WFDB Prepares Master Plan to Boost Relevance
22 october 2019
(diamonds.net) - There was a time, though not very recent, when a gathering of the World Federation of Diamond Bourses (WFDB) was graced by royalty and high-ranking politicians, recalled industry consultant Peter Meeus at the organization’s annual Presidents’ Meeting that took place late September in Dubai. “Can we bring back the old days when kings and queens were honoring international [diamond] events with their presence?” asked Meeus, who in the past has worked in various capacities in the Antwerp and Dubai trades. He was really asking the question the WFDB had tasked him to assess: What is the organization’s role in today’s market? And why has it lost its appeal, particularly among young diamantaires?
The green vector of Russia
21 october 2019
Last week, Moscow hosted the VIIIth Ecological Forum, which discussed the responsibility of business to future generations. The forum was organized by Norilsk Nickel, the Ecological Fund of the Siberian Federal University and the Research Institute of Ecological Problems. The Ecoforum plenary sessions discussed the search for a balance between the socio-economic development of the country’s provinces and the preservation of a decent environment; analyzed the principles of sustainable development and their impact on public-private partnerships; examined the best available technologies, the need for technological modernization and modern requirements of legislation governing environmental issues.
De Beers Sales Drop in Weak Rough Market
18 october 2019
(diamonds.net) - De Beers’ sales slumped to $295 million in September as the miner continued to allow sightholders to refuse goods in the prevailing weak rough-diamond market. The company maintained firm prices and offered increased flexibility to encourage lower purchases, thereby reducing the oversupply in the polished sector, sightholders explained to Rapaport News. It continued its policy of allowing clients to reject 50% of their allocations. It also expanded its buyback program by enabling customers to sell back to De Beers up to 30% of goods in the 2- to 10-carat rough categories, and 20% of the smaller items that constitute the majority of its supply.
KYC: Bridge Over Troubled Water
17 october 2019
(wfdb.com) - The diamond and jewellery industry is an industry spanning all continents. It covers a vast array of activities, from mining of minerals, their processing, conversion into jewellery, and finally retail activities, which lead to its sale to the end consumers. It also covers trading activities at all of these stages. Precious materials change ownership multiple times before they reach their final form and are sold to the end consumer. They may even change hands multiple times at the same stage as they go through stages of aggregation and dis-aggregation. However, the combination of high values and the large spread of companies bring with it a host of challenges. Less than 20 years ago, a diamantaire could easily have bought diamonds from a supplier in one location, have them shipped to another location and perhaps a company that was distinct from his own firm, which was doing the ordering and paying. There were many variations to this.
