News
Tharisa signs PGM offtake deal with Valterra Platinum, expands chrome collaboration
South Africa’s Tharisa has entered a binding arrangement for the sale of PGM concentrate to Rustenburg Platinum Mines, a subsidiary of Valterra Platinum, effective 1 January 2027.
Today
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
BHP Approached Anglo American Chief Mark Cutifani for CEO Role
02 october 2019
(bloomberg.com) - BHP Group has talked to Anglo American Plc Chief Executive Officer Mark Cutifani about running for the top job at the company, according to people familiar with the matter. BHP made the approaches earlier this year and again more recently, said the people, who asked not to be identified as the process is confidential. Cutifani rebuffed the company’s advances so far, they said. BHP favors an internal hire, but also wants to speak with external candidates, the people said.
Why Expensive Luxury Brands are Often Priced Too Low
01 october 2019
(jingdaily.com) - Recently, an associate in Shanghai bought a Hermès handbag for about $15,000. She said she fell in love with the brand and that specific bag, and her dream was to own it (and she would have done anything to get it). Luxury is like love, and once consumers fall, prices no longer matter to some extent. Today, most luxury brands price benchmark their products with the products of their competitors, or else they use production costs as their pricing measure. This is the wrong idea, and I’ll explain why.
Hong Kong Show Reflects Slow Chinese Demand
30 september 2019
(diamonds.net) - (diamonds.net) - The timing of the September Hong Kong Jewellery & Gem Fair was unfortunate, coming amid a wave of anti-government demonstrations in the city. But for many participants, the political tensions were masking the bigger issue: Chinese demand has slowed, compounding the wider problems in the diamond industry. The trade war, the depreciation of the Chinese yuan currency, and high gold prices have reduced the buying power of companies and consumers in the country, exhibitors noted at the fair. Trade customers are mostly unwilling to buy for stock or make advance bulk orders, as they want to keep their inventory down. Some Chinese jewelers believe they can get better deals if they wait for polished prices to fall further.
Optimizing the diamond’s potential: A global movement of people using business as a force for good
27 september 2019
(worlddiamondcouncil.org) - Next week, on October 2 and 3, representatives of the members of our organization, which are associations and companies from across the diamond and jewelry industries, will gather in Antwerp for the Annual General Meeting of the World Diamond Council (WDC). It is being hosted by the Antwerp World Diamond Centre (AWDC). The subjects on the agenda of the meeting are of critical importance, relating predominantly to our industry’s push to improve the relevance and efficiency of the Kimberley Process Certification Scheme (KPCS), which is particularly pertinent given that the KP is now in the final months of a review and reform cycle. Another key issue is WDC’s own program to promote increased transparency and supply-chain due diligence from mine to retailer, as it is embodied in our new System of Warranties (SOW). Both these elements are likely to impact the way we all do business over the coming years.
Opinion: An Urgent Call to Invest in Marketing
26 september 2019
(diamonds.net) - The diamond industry must significantly increase its marketing spend to ensure the trade’s longevity. This need is highlighted by the difficult conditions the sector has endured over the past few years. Recent challenges have led to a lack of confidence in the diamond trade that resulted in a seemingly endless stream of financial misconduct carried out by a minority of ill-intended merchants. Our trade representatives need to introduce stringent measures that will combat such misconduct. More importantly, consumer appetite for our product has stagnated in this tough market, while the absence of marketing and innovation has had a further negative effect on demand. We must collectively work to restore the appeal of our product among consumers.
